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Ez Forms

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Ez Forms

Ez forms 17. Ez forms   Individual Retirement Arrangements (IRAs) Table of Contents What's New Reminders Introduction Useful Items - You may want to see: Traditional IRAsWho Can Open a Traditional IRA? When and How Can a Traditional IRA Be Opened? How Much Can Be Contributed? When Can Contributions Be Made? How Much Can You Deduct? Nondeductible Contributions Inherited IRAs Can You Move Retirement Plan Assets? When Can You Withdraw or Use IRA Assets? When Must You Withdraw IRA Assets? (Required Minimum Distributions) Are Distributions Taxable? What Acts Result in Penalties or Additional Taxes? Roth IRAsWhat Is a Roth IRA? When Can a Roth IRA Be Opened? Can You Contribute to a Roth IRA? Can You Move Amounts Into a Roth IRA? Are Distributions Taxable? What's New Traditional IRA contribution and deduction limit. Ez forms  The contribution limit to your traditional IRA for 2013 will be increased to the smaller of the following amounts: $5,500, or Your taxable compensation for the year. Ez forms If you were age 50 or older before 2014, the most that can be contributed to your traditional IRA for 2013 will be the smaller of the following amounts: $6,500, or Your taxable compensation for the year. Ez forms For more information, see How Much Can Be Contributed? later. Ez forms Roth IRA contribution limit. Ez forms  If contributions on your behalf are made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $5,500, or Your taxable compensation for the year. Ez forms If you were age 50 or older before 2014 and contributions on your behalf were made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $6,500, or Your taxable compensation for the year. Ez forms However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced. Ez forms For more information, see How Much Can Be Contributed? under Can You Contribute to a Roth IRA? later. Ez forms Modified AGI limit for traditional IRA contributions increased. Ez forms  For 2013, if you were covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $95,000 but less than $115,000 for a married couple filing a joint return or a qualifying widow(er), More than $59,000 but less than $69,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Ez forms If you either lived with your spouse or file a joint return, and your spouse was covered by a retirement plan at work, but you were not, your deduction is phased out if your modified AGI is more than $178,000 but less than $188,000. Ez forms If your modified AGI is $188,000 or more, you cannot take a deduction for contributions to a traditional IRA. Ez forms See How Much Can You Deduct , later. Ez forms Modified AGI limit for Roth IRA contributions increased. Ez forms  For 2013, your Roth IRA contribution limit is reduced (phased out) in the following situations. Ez forms Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $178,000. Ez forms You cannot make a Roth IRA contribution if your modified AGI is $188,000 or more. Ez forms Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2013 and your modified AGI is at least $112,000. Ez forms You cannot make a Roth IRA contribution if your modified AGI is $127,000 or more. Ez forms Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Ez forms You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Ez forms See Can You Contribute to a Roth IRA , later. Ez forms Net Investment Income Tax. Ez forms   For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan including IRAs (for example; 401(a), 403(a), 403(b), 408, 408A, or 457(b) plans). Ez forms However, these distributions are taken into account when determining the modified adjusted gross income threshold. Ez forms Distributions from a nonqualified retirement plan are included in net investment income. Ez forms See Form 8960, Net Investment Income Tax - Individuals, Estates, and Trusts, and its instructions for more information. Ez forms Name change. Ez forms  All spousal IRAs have been renamed Kay Bailey Hutchison Spousal IRAs. Ez forms There are no changes to the rules regarding these IRAs. Ez forms See Kay Bailey Hutchison Spousal IRA Limit , later, for more information. Ez forms Reminders 2014 limits. Ez forms   You can find information about the 2014 contribution and AGI limits in Publication 590. Ez forms Contributions to both traditional and Roth IRAs. Ez forms   For information on your combined contribution limit if you contribute to both traditional and Roth IRAs, see Roth IRAs and traditional IRAs under How Much Can Be Contributed? in Roth IRAs, later. Ez forms Statement of required minimum distribution. Ez forms  If a minimum distribution from your IRA is required, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the required minimum distribution to you, or offer to calculate it for you. Ez forms The report or offer must include the date by which the amount must be distributed. Ez forms The report is due January 31 of the year in which the minimum distribution is required. Ez forms It can be provided with the year-end fair market value statement that you normally get each year. Ez forms No report is required for IRAs of owners who have died. Ez forms IRA interest. Ez forms  Although interest earned from your IRA is generally not taxed in the year earned, it is not tax-exempt interest. Ez forms Tax on your traditional IRA is generally deferred until you take a distribution. Ez forms Do not report this interest on your tax return as tax-exempt interest. Ez forms Form 8606. Ez forms   To designate contributions as nondeductible, you must file Form 8606, Nondeductible IRAs. Ez forms The term “50 or older” is used several times in this chapter. Ez forms It refers to an IRA owner who is age 50 or older by the end of the tax year. Ez forms Introduction An individual retirement arrangement (IRA) is a personal savings plan that gives you tax advantages for setting aside money for your retirement. Ez forms This chapter discusses the following topics. Ez forms The rules for a traditional IRA (any IRA that is not a Roth or SIMPLE IRA). Ez forms The Roth IRA, which features nondeductible contributions and tax-free distributions. Ez forms Simplified Employee Pensions (SEPs) and Savings Incentive Match Plans for Employees (SIMPLEs) are not discussed in this chapter. Ez forms For more information on these plans and employees' SEP IRAs and SIMPLE IRAs that are part of these plans, see Publications 560 and 590. Ez forms For information about contributions, deductions, withdrawals, transfers, rollovers, and other transactions, see Publication 590. Ez forms Useful Items - You may want to see: Publication 560 Retirement Plans for Small Business 590 Individual Retirement Arrangements (IRAs) Form (and Instructions) 5329 Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts 8606 Nondeductible IRAs Traditional IRAs In this chapter, the original IRA (sometimes called an ordinary or regular IRA) is referred to as a “traditional IRA. Ez forms ” A traditional IRA is any IRA that is not a Roth IRA or a SIMPLE IRA. Ez forms Two advantages of a traditional IRA are: You may be able to deduct some or all of your contributions to it, depending on your circumstances, and Generally, amounts in your IRA, including earnings and gains, are not taxed until they are distributed. Ez forms Who Can Open a Traditional IRA? You can open and make contributions to a traditional IRA if: You (or, if you file a joint return, your spouse) received taxable compensation during the year, and You were not age 70½ by the end of the year. Ez forms What is compensation?   Generally, compensation is what you earn from working. Ez forms Compensation includes wages, salaries, tips, professional fees, bonuses, and other amounts you receive for providing personal services. Ez forms The IRS treats as compensation any amount properly shown in box 1 (Wages, tips, other compensation) of Form W-2, Wage and Tax Statement, provided that amount is reduced by any amount properly shown in box 11 (Nonqualified plans). Ez forms   Scholarship and fellowship payments are compensation for this purpose only if shown in box 1 of Form W-2. Ez forms   Compensation also includes commissions and taxable alimony and separate maintenance payments. Ez forms Self-employment income. Ez forms   If you are self-employed (a sole proprietor or a partner), compensation is the net earnings from your trade or business (provided your personal services are a material income-producing factor) reduced by the total of: The deduction for contributions made on your behalf to retirement plans, and The deductible part of your self-employment tax. Ez forms   Compensation includes earnings from self-employment even if they are not subject to self-employment tax because of your religious beliefs. Ez forms Nontaxable combat pay. Ez forms   For IRA purposes, if you were a member of the U. Ez forms S. Ez forms Armed Forces, your compensation includes any nontaxable combat pay you receive. Ez forms What is not compensation?   Compensation does not include any of the following items. Ez forms Earnings and profits from property, such as rental income, interest income, and dividend income. Ez forms Pension or annuity income. Ez forms Deferred compensation received (compensation payments postponed from a past year). Ez forms Income from a partnership for which you do not provide services that are a material income-producing factor. Ez forms Conservation Reserve Program (CRP) payments reported on Schedule SE (Form 1040), line 1b. Ez forms Any amounts (other than combat pay) you exclude from income, such as foreign earned income and housing costs. Ez forms When and How Can a Traditional IRA Be Opened? You can open a traditional IRA at any time. Ez forms However, the time for making contributions for any year is limited. Ez forms See When Can Contributions Be Made , later. Ez forms You can open different kinds of IRAs with a variety of organizations. Ez forms You can open an IRA at a bank or other financial institution or with a mutual fund or life insurance company. Ez forms You can also open an IRA through your stockbroker. Ez forms Any IRA must meet Internal Revenue Code requirements. Ez forms Kinds of traditional IRAs. Ez forms   Your traditional IRA can be an individual retirement account or annuity. Ez forms It can be part of either a simplified employee pension (SEP) or an employer or employee association trust account. Ez forms How Much Can Be Contributed? There are limits and other rules that affect the amount that can be contributed to a traditional IRA. Ez forms These limits and other rules are explained below. Ez forms Community property laws. Ez forms   Except as discussed later under Kay Bailey Hutchison Spousal IRA limit , each spouse figures his or her limit separately, using his or her own compensation. Ez forms This is the rule even in states with community property laws. Ez forms Brokers' commissions. Ez forms   Brokers' commissions paid in connection with your traditional IRA are subject to the contribution limit. Ez forms Trustees' fees. Ez forms   Trustees' administrative fees are not subject to the contribution limit. Ez forms Qualified reservist repayments. Ez forms   If you are (or were) a member of a reserve component and you were ordered or called to active duty after September 11, 2001, you may be able to contribute (repay) to an IRA amounts equal to any qualified reservist distributions you received. Ez forms You can make these repayment contributions even if they would cause your total contributions to the IRA to be more than the general limit on contributions. Ez forms To be eligible to make these repayment contributions, you must have received a qualified reservist distribution from an IRA or from a section 401(k) or 403(b) plan or similar arrangement. Ez forms   For more information, see Qualified reservist repayments under How Much Can Be Contributed? in chapter 1 of Publication 590. Ez forms Contributions on your behalf to a traditional IRA reduce your limit for contributions to a Roth IRA. Ez forms (See Roth IRAs, later. Ez forms ) General limit. Ez forms   For 2013, the most that can be contributed to your traditional IRA generally is the smaller of the following amounts. Ez forms $5,500 ($6,500 if you are 50 or older). Ez forms Your taxable compensation (defined earlier) for the year. Ez forms This is the most that can be contributed regardless of whether the contributions are to one or more traditional IRAs or whether all or part of the contributions are nondeductible. Ez forms (See Nondeductible Contributions , later. Ez forms ) Qualified reservist repayments do not affect this limit. Ez forms Example 1. Ez forms Betty, who is 34 years old and single, earned $24,000 in 2013. Ez forms Her IRA contributions for 2013 are limited to $5,500. Ez forms Example 2. Ez forms John, an unmarried college student working part time, earned $3,500 in 2013. Ez forms His IRA contributions for 2013 are limited to $3,500, the amount of his compensation. Ez forms Kay Bailey Hutchison Spousal IRA limit. Ez forms   For 2013, if you file a joint return and your taxable compensation is less than that of your spouse, the most that can be contributed for the year to your IRA is the smaller of the following amounts. Ez forms $5,500 ($6,500 if you are 50 or older). Ez forms The total compensation includible in the gross income of both you and your spouse for the year, reduced by the following two amounts. Ez forms Your spouse's IRA contribution for the year to a traditional IRA. Ez forms Any contribution for the year to a Roth IRA on behalf of your spouse. Ez forms This means that the total combined contributions that can be made for the year to your IRA and your spouse's IRA can be as much as $11,000 ($12,000 if only one of you is 50 or older, or $13,000 if both of you are 50 or older). Ez forms When Can Contributions Be Made? As soon as you open your traditional IRA, contributions can be made to it through your chosen sponsor (trustee or other administrator). Ez forms Contributions must be in the form of money (cash, check, or money order). Ez forms Property cannot be contributed. Ez forms Contributions must be made by due date. Ez forms   Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your return for that year, not including extensions. Ez forms Age 70½ rule. Ez forms   Contributions cannot be made to your traditional IRA for the year in which you reach age 70½ or for any later year. Ez forms   You attain age 70½ on the date that is 6 calendar months after the 70th anniversary of your birth. Ez forms If you were born on or before June 30, 1943, you cannot contribute for 2013 or any later year. Ez forms Designating year for which contribution is made. Ez forms   If an amount is contributed to your traditional IRA between January 1 and April 15, you should tell the sponsor which year (the current year or the previous year) the contribution is for. Ez forms If you do not tell the sponsor which year it is for, the sponsor can assume, and report to the IRS, that the contribution is for the current year (the year the sponsor received it). Ez forms Filing before a contribution is made. Ez forms   You can file your return claiming a traditional IRA contribution before the contribution is actually made. Ez forms Generally, the contribution must be made by the due date of your return, not including extensions. Ez forms Contributions not required. Ez forms   You do not have to contribute to your traditional IRA for every tax year, even if you can. Ez forms How Much Can You Deduct? Generally, you can deduct the lesser of: The contributions to your traditional IRA for the year, or The general limit (or the Kay Bailey Hutchison Spousal IRA limit, if it applies). Ez forms However, if you or your spouse was covered by an employer retirement plan, you may not be able to deduct this amount. Ez forms See Limit If Covered by Employer Plan , later. Ez forms You may be able to claim a credit for contributions to your traditional IRA. Ez forms For more information, see chapter 37. Ez forms Trustees' fees. Ez forms   Trustees' administrative fees that are billed separately and paid in connection with your traditional IRA are not deductible as IRA contributions. Ez forms However, they may be deductible as a miscellaneous itemized deduction on Schedule A (Form 1040). Ez forms See chapter 28. Ez forms Brokers' commissions. Ez forms   Brokers' commissions are part of your IRA contribution and, as such, are deductible subject to the limits. Ez forms Full deduction. Ez forms   If neither you nor your spouse was covered for any part of the year by an employer retirement plan, you can take a deduction for total contributions to one or more traditional IRAs of up to the lesser of: $5,500 ($6,500 if you are age 50 or older in 2013). Ez forms 100% of your compensation. Ez forms This limit is reduced by any contributions made to a 501(c)(18) plan on your behalf. Ez forms Kay Bailey Hutchison Spousal IRA. Ez forms   In the case of a married couple with unequal compensation who file a joint return, the deduction for contributions to the traditional IRA of the spouse with less compensation is limited to the lesser of the following amounts. Ez forms $5,500 ($6,500 if the spouse with the lower compensation is age 50 or older in 2013). Ez forms The total compensation includible in the gross income of both spouses for the year reduced by the following three amounts. Ez forms The IRA deduction for the year of the spouse with the greater compensation. Ez forms Any designated nondeductible contribution for the year made on behalf of the spouse with the greater compensation. Ez forms Any contributions for the year to a Roth IRA on behalf of the spouse with the greater compensation. Ez forms This limit is reduced by any contributions to a 501(c)(18) plan on behalf of the spouse with the lesser compensation. Ez forms Note. Ez forms If you were divorced or legally separated (and did not remarry) before the end of the year, you cannot deduct any contributions to your spouse's IRA. Ez forms After a divorce or legal separation, you can deduct only contributions to your own IRA. Ez forms Your deductions are subject to the rules for single individuals. Ez forms Covered by an employer retirement plan. Ez forms   If you or your spouse was covered by an employer retirement plan at any time during the year for which contributions were made, your deduction may be further limited. Ez forms This is discussed later under Limit If Covered by Employer Plan . Ez forms Limits on the amount you can deduct do not affect the amount that can be contributed. Ez forms See Nondeductible Contributions , later. Ez forms Are You Covered by an Employer Plan? The Form W-2 you receive from your employer has a box used to indicate whether you were covered for the year. Ez forms The “Retirement plan” box should be checked if you were covered. Ez forms Reservists and volunteer firefighters should also see Situations in Which You Are Not Covered by an Employer Plan , later. Ez forms If you are not certain whether you were covered by your employer's retirement plan, you should ask your employer. Ez forms Federal judges. Ez forms   For purposes of the IRA deduction, federal judges are covered by an employer retirement plan. Ez forms For Which Year(s) Are You Covered by an Employer Plan? Special rules apply to determine the tax years for which you are covered by an employer plan. Ez forms These rules differ depending on whether the plan is a defined contribution plan or a defined benefit plan. Ez forms Tax year. Ez forms   Your tax year is the annual accounting period you use to keep records and report income and expenses on your income tax return. Ez forms For almost all people, the tax year is the calendar year. Ez forms Defined contribution plan. Ez forms   Generally, you are covered by a defined contribution plan for a tax year if amounts are contributed or allocated to your account for the plan year that ends with or within that tax year. Ez forms   A defined contribution plan is a plan that provides for a separate account for each person covered by the plan. Ez forms Types of defined contribution plans include profit-sharing plans, stock bonus plans, and money purchase pension plans. Ez forms Defined benefit plan. Ez forms   If you are eligible to participate in your employer's defined benefit plan for the plan year that ends within your tax year, you are covered by the plan. Ez forms This rule applies even if you: Declined to participate in the plan, Did not make a required contribution, or Did not perform the minimum service required to accrue a benefit for the year. Ez forms   A defined benefit plan is any plan that is not a defined contribution plan. Ez forms Defined benefit plans include pension plans and annuity plans. Ez forms No vested interest. Ez forms   If you accrue a benefit for a plan year, you are covered by that plan even if you have no vested interest in (legal right to) the accrual. Ez forms Situations in Which You Are Not Covered by an Employer Plan Unless you are covered under another employer plan, you are not covered by an employer plan if you are in one of the situations described below. Ez forms Social security or railroad retirement. Ez forms   Coverage under social security or railroad retirement is not coverage under an employer retirement plan. Ez forms Benefits from a previous employer's plan. Ez forms   If you receive retirement benefits from a previous employer's plan, you are not covered by that plan. Ez forms Reservists. Ez forms   If the only reason you participate in a plan is because you are a member of a reserve unit of the armed forces, you may not be covered by the plan. Ez forms You are not covered by the plan if both of the following conditions are met. Ez forms The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Ez forms You did not serve more than 90 days on active duty during the year (not counting duty for training). Ez forms Volunteer firefighters. Ez forms   If the only reason you participate in a plan is because you are a volunteer firefighter, you may not be covered by the plan. Ez forms You are not covered by the plan if both of the following conditions are met. Ez forms The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Ez forms Your accrued retirement benefits at the beginning of the year will not provide more than $1,800 per year at retirement. Ez forms Limit If Covered by Employer Plan If either you or your spouse was covered by an employer retirement plan, you may be entitled to only a partial (reduced) deduction or no deduction at all, depending on your income and your filing status. Ez forms Your deduction begins to decrease (phase out) when your income rises above a certain amount and is eliminated altogether when it reaches a higher amount. Ez forms These amounts vary depending on your filing status. Ez forms To determine if your deduction is subject to phaseout, you must determine your modified adjusted gross income (AGI) and your filing status. Ez forms See Filing status and Modified adjusted gross income (AGI) , later. Ez forms Then use Table 17-1 or 17-2 to determine if the phaseout applies. Ez forms Social security recipients. Ez forms   Instead of using Table 17-1 or Table 17-2, use the worksheets in Appendix B of Publication 590 if, for the year, all of the following apply. Ez forms You received social security benefits. Ez forms You received taxable compensation. Ez forms Contributions were made to your traditional IRA. Ez forms You or your spouse was covered by an employer retirement plan. Ez forms Use those worksheets to figure your IRA deduction, your nondeductible contribution, and the taxable portion, if any, of your social security benefits. Ez forms Deduction phaseout. Ez forms   If you were covered by an employer retirement plan and you did not receive any social security retirement benefits, your IRA deduction may be reduced or eliminated depending on your filing status and modified AGI as shown in Table 17-1. Ez forms Table 17-1. Ez forms Effect of Modified AGI1 on Deduction if You Are Covered by Retirement Plan at Work If you are covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Ez forms IF your filing status is. Ez forms . Ez forms . Ez forms   AND your modified AGI is. Ez forms . Ez forms . Ez forms   THEN you can take. Ez forms . Ez forms . Ez forms single   or  head of household   $59,000 or less   a full deduction. Ez forms   more than $59,000 but less than $69,000   a partial deduction. Ez forms   $69,000 or more   no deduction. Ez forms married filing jointly   or  qualifying widow(er)   $95,000 or less   a full deduction. Ez forms   more than $95,000 but less than $115,000   a partial deduction. Ez forms   $115,000 or more   no deduction. Ez forms married filing separately2   less than $10,000   a partial deduction. Ez forms   $10,000 or more   no deduction. Ez forms 1Modified AGI (adjusted gross income). Ez forms See Modified adjusted gross income (AGI) . Ez forms 2If you did not live with your spouse at any time during the year, your filing status is considered Single for this purpose (therefore, your IRA deduction is determined under the “Single” column). Ez forms If your spouse is covered. Ez forms   If you are not covered by an employer retirement plan, but your spouse is, and you did not receive any social security benefits, your IRA deduction may be reduced or eliminated entirely depending on your filing status and modified AGI as shown in Table 17-2. Ez forms Filing status. Ez forms   Your filing status depends primarily on your marital status. Ez forms For this purpose, you need to know if your filing status is single or head of household, married filing jointly or qualifying widow(er), or married filing separately. Ez forms If you need more information on filing status, see chapter 2. Ez forms Lived apart from spouse. Ez forms   If you did not live with your spouse at any time during the year and you file a separate return, your filing status, for this purpose, is single. Ez forms Table 17-2. Ez forms Effect of Modified AGI1 on Deduction if You Are NOT Covered by Retirement Plan at Work If you are not covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Ez forms IF your filing status is. Ez forms . Ez forms . Ez forms   AND your modified AGI is. Ez forms . Ez forms . Ez forms   THEN you can take. Ez forms . Ez forms . Ez forms single, head of household, or qualifying widow(er)   any amount   a full deduction. Ez forms married filing jointly or separately with a spouse who is not covered by a plan at work   any amount   a full deduction. Ez forms married filing jointly with a spouse who is covered by a plan at work   $178,000 or less   a full deduction. Ez forms   more than $178,000 but less than $188,000   a partial deduction. Ez forms   $188,000 or more   no deduction. Ez forms married filing separately with a spouse who is covered by a plan at work2   less than $10,000   a partial deduction. Ez forms   $10,000 or more   no deduction. Ez forms 1Modified AGI (adjusted gross income). Ez forms See Modified adjusted gross income (AGI) . Ez forms 2You are entitled to the full deduction if you did not live with your spouse at any time during the year. Ez forms Modified adjusted gross income (AGI). Ez forms   How you figure your modified AGI depends on whether you are filing Form 1040 or Form 1040A. Ez forms If you made contributions to your IRA for 2013 and received a distribution from your IRA in 2013, see Publication 590. Ez forms You may be able to use Worksheet 17-1 to figure your modified AGI. Ez forms    Do not assume that your modified AGI is the same as your compensation. Ez forms Your modified AGI may include income in addition to your compensation (discussed earlier), such as interest, dividends, and income from IRA distributions. Ez forms Form 1040. Ez forms   If you file Form 1040, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following eight amounts. Ez forms IRA deduction. Ez forms Student loan interest deduction. Ez forms Tuition and fees deduction. Ez forms Domestic production activities deduction. Ez forms Foreign earned income exclusion. Ez forms Foreign housing exclusion or deduction. Ez forms Exclusion of qualified savings bond interest shown on Form 8815, Exclusion of Interest From Series EE and I U. Ez forms S. Ez forms Savings Bonds Issued After 1989. Ez forms Exclusion of employer-provided adoption benefits shown on Form 8839, Qualified Adoption Expenses. Ez forms This is your modified AGI. Ez forms Form 1040A. Ez forms   If you file Form 1040A, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following amounts. Ez forms IRA deduction. Ez forms Student loan interest deduction. Ez forms Tuition and fees deduction. Ez forms Exclusion of qualified savings bond interest shown on Form 8815. Ez forms This is your modified AGI. Ez forms Both contributions for 2013 and distributions in 2013. Ez forms   If all three of the following apply, any IRA distributions you received in 2013 may be partly tax free and partly taxable. Ez forms You received distributions in 2013 from one or more traditional IRAs. Ez forms You made contributions to a traditional IRA for 2013. Ez forms Some of those contributions may be nondeductible contributions. Ez forms If this is your situation, you must figure the taxable part of the traditional IRA distribution before you can figure your modified AGI. Ez forms To do this, you can use Worksheet 1-5, Figuring the Taxable Part of Your IRA Distribution, in Publication 590. Ez forms   If at least one of the above does not apply, figure your modified AGI using Worksheet 17-1, later. Ez forms    How to figure your reduced IRA deduction. Ez forms   You can figure your reduced IRA deduction for either Form 1040 or Form 1040A by using the worksheets in chapter 1 of Publication 590. Ez forms Also, the instructions for Form 1040 and Form 1040A include similar worksheets that you may be able to use instead. Ez forms Worksheet 17-1. Ez forms Figuring Your Modified AGI Use this worksheet to figure your modified adjusted gross income for traditional IRA purposes. Ez forms 1. Ez forms Enter your adjusted gross income (AGI) from Form 1040, line 38, or Form 1040A, line 22, figured without taking into account the amount from Form 1040, line 32, or Form 1040A, line 17 1. Ez forms   2. Ez forms Enter any student loan interest deduction from Form 1040, line 33, or Form 1040A, line 18 2. Ez forms   3. Ez forms Enter any tuition and fees deduction from Form 1040, line 34, or Form 1040A, line 19 3. Ez forms   4. Ez forms Enter any domestic production activities deduction from Form 1040, line 35 4. Ez forms   5. Ez forms Enter any foreign earned income and/or housing exclusion from Form 2555, line 45, or Form 2555-EZ, line 18 5. Ez forms   6. Ez forms Enter any foreign housing deduction from Form 2555, line 50 6. Ez forms   7. Ez forms Enter any excludable savings bond interest from Form 8815, line 14 7. Ez forms   8. Ez forms Enter any excluded employer-provided adoption benefits from Form 8839, line 28 8. Ez forms   9. Ez forms Add lines 1 through 8. Ez forms This is your Modified AGI for traditional IRA purposes 9. Ez forms   Reporting Deductible Contributions If you file Form 1040, enter your IRA deduction on line 32 of that form. Ez forms If you file Form 1040A, enter your IRA deduction on line 17. Ez forms You cannot deduct IRA contributions on Form 1040EZ. Ez forms Nondeductible Contributions Although your deduction for IRA contributions may be reduced or eliminated, contributions can be made to your IRA up to the general limit or, if it applies, the Kay Bailey Hutchison Spousal IRA limit. Ez forms The difference between your total permitted contributions and your IRA deduction, if any, is your nondeductible contribution. Ez forms Example. Ez forms Mike is 28 years old and single. Ez forms In 2013, he was covered by a retirement plan at work. Ez forms His salary was $57,312. Ez forms His modified AGI was $70,000. Ez forms Mike made a $5,500 IRA contribution for 2013. Ez forms Because he was covered by a retirement plan and his modified AGI was over $69,000, he cannot deduct his $5,500 IRA contribution. Ez forms He must designate this contribution as a nondeductible contribution by reporting it on Form 8606, as explained next. Ez forms Form 8606. Ez forms   To designate contributions as nondeductible, you must file Form 8606. Ez forms   You do not have to designate a contribution as nondeductible until you file your tax return. Ez forms When you file, you can even designate otherwise deductible contributions as nondeductible. Ez forms   You must file Form 8606 to report nondeductible contributions even if you do not have to file a tax return for the year. Ez forms A Form 8606 is not used for the year that you make a rollover from a qualified retirement plan to a traditional IRA and the rollover includes nontaxable amounts. Ez forms In those situations, a Form 8606 is completed for the year you take a distribution from that IRA. Ez forms See Form 8606 under Distributions Fully or Partly Taxable, later. Ez forms Failure to report nondeductible contributions. Ez forms   If you do not report nondeductible contributions, all of the contributions to your traditional IRA will be treated as deductible contributions when withdrawn. Ez forms All distributions from your IRA will be taxed unless you can show, with satisfactory evidence, that nondeductible contributions were made. Ez forms Penalty for overstatement. Ez forms   If you overstate the amount of nondeductible contributions on your Form 8606 for any tax year, you must pay a penalty of $100 for each overstatement, unless it was due to reasonable cause. Ez forms Penalty for failure to file Form 8606. Ez forms   You will have to pay a $50 penalty if you do not file a required Form 8606, unless you can prove that the failure was due to reasonable cause. Ez forms    Tax on earnings on nondeductible contributions. Ez forms   As long as contributions are within the contribution limits, none of the earnings or gains on contributions (deductible or nondeductible) will be taxed until they are distributed. Ez forms See When Can You Withdraw or Use IRA Assets , later. Ez forms Cost basis. Ez forms   You will have a cost basis in your traditional IRA if you made any nondeductible contributions. Ez forms Your cost basis is the sum of the nondeductible contributions to your IRA minus any withdrawals or distributions of nondeductible contributions. Ez forms Inherited IRAs If you inherit a traditional IRA, you are called a beneficiary. Ez forms A beneficiary can be any person or entity the owner chooses to receive the benefits of the IRA after he or she dies. Ez forms Beneficiaries of a traditional IRA must include in their gross income any taxable distributions they receive. Ez forms Inherited from spouse. Ez forms   If you inherit a traditional IRA from your spouse, you generally have the following three choices. Ez forms You can: Treat it as your own IRA by designating yourself as the account owner. Ez forms Treat it as your own by rolling it over into your IRA, or to the extent it is taxable, into a: Qualified employer plan, Qualified employee annuity plan (section 403(a) plan), Tax-sheltered annuity plan (section 403(b) plan), or Deferred compensation plan of a state or local government (section 457 plan). Ez forms Treat yourself as the beneficiary rather than treating the IRA as your own. Ez forms Treating it as your own. Ez forms   You will be considered to have chosen to treat the IRA as your own if: Contributions (including rollover contributions) are made to the inherited IRA, or You do not take the required minimum distribution for a year as a beneficiary of the IRA. Ez forms You will only be considered to have chosen to treat the IRA as your own if: You are the sole beneficiary of the IRA, and You have an unlimited right to withdraw amounts from it. Ez forms   However, if you receive a distribution from your deceased spouse's IRA, you can roll that distribution over into your own IRA within the 60-day time limit, as long as the distribution is not a required distribution, even if you are not the sole beneficiary of your deceased spouse's IRA. Ez forms Inherited from someone other than spouse. Ez forms   If you inherit a traditional IRA from anyone other than your deceased spouse, you cannot treat the inherited IRA as your own. Ez forms This means that you cannot make any contributions to the IRA. Ez forms It also means you cannot roll over any amounts into or out of the inherited IRA. Ez forms However, you can make a trustee-to-trustee transfer as long as the IRA into which amounts are being moved is set up and maintained in the name of the deceased IRA owner for the benefit of you as beneficiary. Ez forms For more information, see the discussion of inherited IRAs under Rollover From One IRA Into Another, later. Ez forms Can You Move Retirement Plan Assets? You can transfer, tax free, assets (money or property) from other retirement plans (including traditional IRAs) to a traditional IRA. Ez forms You can make the following kinds of transfers. Ez forms Transfers from one trustee to another. Ez forms Rollovers. Ez forms Transfers incident to a divorce. Ez forms Transfers to Roth IRAs. Ez forms   Under certain conditions, you can move assets from a traditional IRA or from a designated Roth account to a Roth IRA. Ez forms You can also move assets from a qualified retirement plan to a Roth IRA. Ez forms See Can You Move Amounts Into a Roth IRA? under Roth IRAs, later. Ez forms Trustee-to-Trustee Transfer A transfer of funds in your traditional IRA from one trustee directly to another, either at your request or at the trustee's request, is not a rollover. Ez forms Because there is no distribution to you, the transfer is tax free. Ez forms Because it is not a rollover, it is not affected by the 1-year waiting period required between rollovers, discussed later under Rollover From One IRA Into Another . Ez forms For information about direct transfers to IRAs from retirement plans other than IRAs, see Can You Move Retirement Plan Assets? in chapter 1 and Can You Move Amounts Into a Roth IRA? in chapter 2 of Publication 590. Ez forms Rollovers Generally, a rollover is a tax-free distribution to you of cash or other assets from one retirement plan that you contribute (roll over) to another retirement plan. Ez forms The contribution to the second retirement plan is called a “rollover contribution. Ez forms ” Note. Ez forms An amount rolled over tax free from one retirement plan to another is generally includible in income when it is distributed from the second plan. Ez forms Kinds of rollovers to a traditional IRA. Ez forms   You can roll over amounts from the following plans into a traditional IRA: A traditional IRA, An employer's qualified retirement plan for its employees, A deferred compensation plan of a state or local government (section 457 plan), or A tax-sheltered annuity plan (section 403(b) plan). Ez forms Treatment of rollovers. Ez forms   You cannot deduct a rollover contribution, but you must report the rollover distribution on your tax return as discussed later under Reporting rollovers from IRAs and under Reporting rollovers from employer plans . Ez forms Kinds of rollovers from a traditional IRA. Ez forms   You may be able to roll over, tax free, a distribution from your traditional IRA into a qualified plan. Ez forms These plans include the federal Thrift Savings Fund (for federal employees), deferred compensation plans of state or local governments (section 457 plans), and tax-sheltered annuity plans (section 403(b) plans). Ez forms The part of the distribution that you can roll over is the part that would otherwise be taxable (includible in your income). Ez forms Qualified plans may, but are not required to, accept such rollovers. Ez forms Time limit for making a rollover contribution. Ez forms   You generally must make the rollover contribution by the 60th day after the day you receive the distribution from your traditional IRA or your employer's plan. Ez forms The IRS may waive the 60-day requirement where the failure to do so would be against equity or good conscience, such as in the event of a casualty, disaster, or other event beyond your reasonable control. Ez forms For more information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Ez forms Extension of rollover period. Ez forms   If an amount distributed to you from a traditional IRA or a qualified employer retirement plan is a frozen deposit at any time during the 60-day period allowed for a rollover, special rules extend the rollover period. Ez forms For more information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Ez forms More information. Ez forms   For more information on rollovers, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Ez forms Rollover From One IRA Into Another You can withdraw, tax free, all or part of the assets from one traditional IRA if you reinvest them within 60 days in the same or another traditional IRA. Ez forms Because this is a rollover, you cannot deduct the amount that you reinvest in an IRA. Ez forms Waiting period between rollovers. Ez forms   Generally, if you make a tax-free rollover of any part of a distribution from a traditional IRA, you cannot, within a 1-year period, make a tax-free rollover of any later distribution from that same IRA. Ez forms You also cannot make a tax-free rollover of any amount distributed, within the same 1-year period, from the IRA into which you made the tax-free rollover. Ez forms   The 1-year period begins on the date you receive the IRA distribution, not on the date you roll it over into an IRA. Ez forms Example. Ez forms You have two traditional IRAs, IRA-1 and IRA-2. Ez forms You make a tax-free rollover of a distribution from IRA-1 into a new traditional IRA (IRA-3). Ez forms You cannot, within 1 year of the distribution from IRA-1, make a tax-free rollover of any distribution from either IRA-1 or IRA-3 into another traditional IRA. Ez forms However, the rollover from IRA-1 into IRA-3 does not prevent you from making a tax-free rollover from IRA-2 into any other traditional IRA. Ez forms This is because you have not, within the last year, rolled over, tax free, any distribution from IRA-2 or made a tax-free rollover into IRA-2. Ez forms Exception. Ez forms   For an exception for distributions from failed financial institutions, see Rollover From One IRA Into Another under Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Ez forms Partial rollovers. Ez forms   If you withdraw assets from a traditional IRA, you can roll over part of the withdrawal tax free and keep the rest of it. Ez forms The amount you keep will generally be taxable (except for the part that is a return of nondeductible contributions). Ez forms The amount you keep may be subject to the 10% additional tax on early distributions, discussed later under What Acts Result in Penalties or Additional Taxes? . Ez forms Required distributions. Ez forms   Amounts that must be distributed during a particular year under the required distribution rules (discussed later) are not eligible for rollover treatment. Ez forms Inherited IRAs. Ez forms   If you inherit a traditional IRA from your spouse, you generally can roll it over, or you can choose to make the inherited IRA your own. Ez forms See Treating it as your own , earlier. Ez forms Not inherited from spouse. Ez forms   If you inherit a traditional IRA from someone other than your spouse, you cannot roll it over or allow it to receive a rollover contribution. Ez forms You must withdraw the IRA assets within a certain period. Ez forms For more information, see When Must You Withdraw Assets? in chapter 1 of Publication 590. Ez forms Reporting rollovers from IRAs. Ez forms   Report any rollover from one traditional IRA to the same or another traditional IRA on lines 15a and 15b, Form 1040, or lines 11a and 11b, Form 1040A, as follows. Ez forms   Enter the total amount of the distribution on Form 1040, line 15a, or Form 1040A, line 11a. Ez forms If the total amount on Form 1040, line 15a, or Form 1040A, line 11a, was rolled over, enter zero on Form 1040, line 15b, or Form 1040A, line 11b. Ez forms If the total distribution was not rolled over, enter the taxable portion of the part that was not rolled over on Form 1040, line 15b, or Form 1040A, line 11b. Ez forms Put “Rollover” next to Form 1040, line 15b, or Form 1040A, line 11b. Ez forms See your tax return instructions. Ez forms   If you rolled over the distribution into a qualified plan (other than an IRA) or you make the rollover in 2014, attach a statement explaining what you did. Ez forms Rollover From Employer's Plan Into an IRA You can roll over into a traditional IRA all or part of an eligible rollover distribution you receive from your (or your deceased spouse's): Employer's qualified pension, profit-sharing, or stock bonus plan; Annuity plan; Tax-sheltered annuity plan (section 403(b) plan); or Governmental deferred compensation plan (section 457 plan). Ez forms A qualified plan is one that meets the requirements of the Internal Revenue Code. Ez forms Eligible rollover distribution. Ez forms   Generally, an eligible rollover distribution is any distribution of all or part of the balance to your credit in a qualified retirement plan except the following. Ez forms A required minimum distribution (explained later under When Must You Withdraw IRA Assets? (Required Minimum Distributions) ). Ez forms A hardship distribution. Ez forms Any of a series of substantially equal periodic distributions paid at least once a year over: Your lifetime or life expectancy, The lifetimes or life expectancies of you and your beneficiary, or A period of 10 years or more. Ez forms Corrective distributions of excess contributions or excess deferrals, and any income allocable to the excess, or of excess annual additions and any allocable gains. Ez forms A loan treated as a distribution because it does not satisfy certain requirements either when made or later (such as upon default), unless the participant's accrued benefits are reduced (offset) to repay the loan. Ez forms Dividends on employer securities. Ez forms The cost of life insurance coverage. Ez forms Any nontaxable amounts that you roll over into your traditional IRA become part of your basis (cost) in your IRAs. Ez forms To recover your basis when you take distributions from your IRA, you must complete Form 8606 for the year of the distribution. Ez forms See Form 8606 under Distributions Fully or Partly Taxable, later. Ez forms Rollover by nonspouse beneficiary. Ez forms   A direct transfer from a deceased employee's qualified pension, profit-sharing, or stock bonus plan; annuity plan; tax-sheltered annuity (section 403(b)) plan; or governmental deferred compensation (section 457) plan to an IRA set up to receive the distribution on your behalf can be treated as an eligible rollover distribution if you are the designated beneficiary of the plan and not the employee's spouse. Ez forms The IRA is treated as an inherited IRA. Ez forms For more information about inherited IRAs, see Inherited IRAs , earlier. Ez forms Reporting rollovers from employer plans. Ez forms    Enter the total distribution (before income tax or other deductions were withheld) on Form 1040, line 16a, or Form 1040A, line 12a. Ez forms This amount should be shown in box 1 of Form 1099-R. Ez forms From this amount, subtract any contributions (usually shown in box 5 of Form 1099-R) that were taxable to you when made. Ez forms From that result, subtract the amount that was rolled over either directly or within 60 days of receiving the distribution. Ez forms Enter the remaining amount, even if zero, on Form 1040, line 16b, or Form 1040A, line 12b. Ez forms Also, enter "Rollover" next to Form 1040, line 16b, or Form 1040A, line 12b. Ez forms Transfers Incident to Divorce If an interest in a traditional IRA is transferred from your spouse or former spouse to you by a divorce or separate maintenance decree or a written document related to such a decree, the interest in the IRA, starting from the date of the transfer, is treated as your IRA. Ez forms The transfer is tax free. Ez forms For detailed information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Ez forms Converting From Any Traditional IRA to a Roth IRA Allowable conversions. Ez forms   You can withdraw all or part of the assets from a traditional IRA and reinvest them (within 60 days) in a Roth IRA. Ez forms The amount that you withdraw and timely contribute (convert) to the Roth IRA is called a conversion contribution. Ez forms If properly (and timely) rolled over, the 10% additional tax on early distributions will not apply. Ez forms However, a part or all of the conversion contribution from your traditional IRA is included in your gross income. Ez forms Required distributions. Ez forms   You cannot convert amounts that must be distributed from your traditional IRA for a particular year (including the calendar year in which you reach age 70½) under the required distribution rules (discussed later). Ez forms Income. Ez forms   You must include in your gross income distributions from a traditional IRA that you would have had to include in income if you had not converted them into a Roth IRA. Ez forms These amounts are normally included in income on your return for the year that you converted them from a traditional IRA to a Roth IRA. Ez forms   You do not include in gross income any part of a distribution from a traditional IRA that is a return of your basis, as discussed later. Ez forms   You must file Form 8606 to report 2013 conversions from traditional, SEP, or SIMPLE IRAs to a Roth IRA in 2013 (unless you recharacterized the entire amount) and to figure the amount to include in income. Ez forms   If you must include any amount in your gross income, you may have to increase your withholding or make estimated tax payments. Ez forms See chapter 4. Ez forms Recharacterizations You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. Ez forms This is called recharacterizing the contribution. Ez forms See Can You Move Retirement Plan Assets? in chapter 1 of Publication 590 for more detailed information. Ez forms How to recharacterize a contribution. Ez forms   To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a trustee-to-trustee transfer. Ez forms If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. Ez forms If you recharacterize your contribution, you must do all three of the following. Ez forms Include in the transfer any net income allocable to the contribution. Ez forms If there was a loss, the net income you must transfer may be a negative amount. Ez forms Report the recharacterization on your tax return for the year during which the contribution was made. Ez forms Treat the contribution as having been made to the second IRA on the date that it was actually made to the first IRA. Ez forms No deduction allowed. Ez forms   You cannot deduct the contribution to the first IRA. Ez forms Any net income you transfer with the recharacterized contribution is treated as earned in the second IRA. Ez forms Required notifications. Ez forms   To recharacterize a contribution, you must notify both the trustee of the first IRA (the one to which the contribution was actually made) and the trustee of the second IRA (the one to which the contribution is being moved) that you have elected to treat the contribution as having been made to the second IRA rather than the first. Ez forms You must make the notifications by the date of the transfer. Ez forms Only one notification is required if both IRAs are maintained by the same trustee. Ez forms The notification(s) must include all of the following information. Ez forms The type and amount of the contribution to the first IRA that is to be recharacterized. Ez forms The date on which the contribution was made to the first IRA and the year for which it was made. Ez forms A direction to the trustee of the first IRA to transfer in a trustee-to-trustee transfer the amount of the contribution and any net income (or loss) allocable to the contribution to the trustee of the second IRA. Ez forms The name of the trustee of the first IRA and the name of the trustee of the second IRA. Ez forms Any additional information needed to make the transfer. Ez forms Reporting a recharacterization. Ez forms   If you elect to recharacterize a contribution to one IRA as a contribution to another IRA, you must report the recharacterization on your tax return as directed by Form 8606 and its instructions. Ez forms You must treat the contribution as having been made to the second IRA. Ez forms When Can You Withdraw or Use IRA Assets? There are rules limiting use of your IRA assets and distributions from it. Ez forms Violation of the rules generally results in additional taxes in the year of violation. Ez forms See What Acts Result in Penalties or Additional Taxes , later. Ez forms Contributions returned before the due date of return. Ez forms   If you made IRA contributions in 2013, you can withdraw them tax free by the due date of your return. Ez forms If you have an extension of time to file your return, you can withdraw them tax free by the extended due date. Ez forms You can do this if, for each contribution you withdraw, both of the following conditions apply. Ez forms You did not take a deduction for the contribution. Ez forms You withdraw any interest or other income earned on the contribution. Ez forms You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be withdrawn. Ez forms If there was a loss, the net income earned on the contribution may be a negative amount. Ez forms Note. Ez forms To calculate the amount you must withdraw, see Worksheet 1-4 under When Can You Withdraw or Use Assets? in chapter 1 of Publication 590. Ez forms Earnings includible in income. Ez forms   You must include in income any earnings on the contributions you withdraw. Ez forms Include the earnings in income for the year in which you made the contributions, not in the year in which you withdraw them. Ez forms Generally, except for any part of a withdrawal that is a return of nondeductible contributions (basis), any withdrawal of your contributions after the due date (or extended due date) of your return will be treated as a taxable distribution. Ez forms Excess contributions can also be recovered tax free as discussed under What Acts Result in Penalties or Additional Taxes?, later. Ez forms    Early distributions tax. Ez forms   The 10% additional tax on distributions made before you reach age 59½ does not apply to these tax-free withdrawals of your contributions. Ez forms However, the distribution of interest or other income must be reported on Form 5329 and, unless the distribution qualifies as an exception to the age 59½ rule, it will be subject to this tax. Ez forms When Must You Withdraw IRA Assets? (Required Minimum Distributions) You cannot keep funds in a traditional IRA indefinitely. Ez forms Eventually they must be distributed. Ez forms If there are no distributions, or if the distributions are not large enough, you may have to pay a 50% excise tax on the amount not distributed as required. Ez forms See Excess Accumulations (Insufficient Distributions) , later. Ez forms The requirements for distributing IRA funds differ depending on whether you are the IRA owner or the beneficiary of a decedent's IRA. Ez forms Required minimum distribution. Ez forms   The amount that must be distributed each year is referred to as the required minimum distribution. Ez forms Required distributions not eligible for rollover. Ez forms   Amounts that must be distributed (required minimum distributions) during a particular year are not eligible for rollover treatment. Ez forms IRA owners. Ez forms   If you are the owner of a traditional IRA, you must generally start receiving distributions from your IRA by April 1 of the year following the year in which you reach age 70½. Ez forms April 1 of the year following the year in which you reach age 70½ is referred to as the required beginning date. Ez forms Distributions by the required beginning date. Ez forms   You must receive at least a minimum amount for each year starting with the year you reach age 70½ (your 70½ year). Ez forms If you do not (or did not) receive that minimum amount in your 70½ year, then you must receive distributions for your 70½ year by April 1 of the next year. Ez forms   If an IRA owner dies after reaching age 70½, but before April 1 of the next year, no minimum distribution is required because death occurred before the required beginning date. Ez forms Even if you begin receiving distributions before you attain age 70½, you must begin calculating and receiving required minimum distributions by your required beginning date. Ez forms Distributions after the required beginning date. Ez forms   The required minimum distribution for any year after the year you turn 70½ must be made by December 31 of that later year. Ez forms    Beneficiaries. Ez forms   If you are the beneficiary of a decedent's traditional IRA, the requirements for distributions from that IRA generally depend on whether the IRA owner died before or after the required beginning date for distributions. Ez forms More information. Ez forms   For more information, including how to figure your minimum required distribution each year and how to figure your required distribution if you are a beneficiary of a decedent's IRA, see When Must You Withdraw Assets? in chapter 1 of Publication 590. Ez forms Are Distributions Taxable? In general, distributions from a traditional IRA are taxable in the year you receive them. Ez forms Exceptions. Ez forms   Exceptions to distributions from traditional IRAs being taxable in the year you receive them are: Rollovers, Qualified charitable distributions (QCD), discussed later, Tax-free withdrawals of contributions, discussed earlier, and The return of nondeductible contributions, discussed later under Distributions Fully or Partly Taxable . Ez forms    Although a conversion of a traditional IRA is considered a rollover for Roth IRA purposes, it is not an exception to the rule that distributions from a traditional IRA are taxable in the year you receive them. Ez forms Conversion distributions are includible in your gross income subject to this rule and the special rules for conversions explained in Converting From Any Traditional IRA Into a Roth IRA under Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Ez forms Qualified charitable distributions (QCD). Ez forms   A QCD is generally a nontaxable distribution made directly by the trustee of your IRA to an organization eligible to receive tax-deductible contributions. Ez forms Special rules apply if you made a qualified charitable distribution in January 2013 that you elected to treat as made in 2012. Ez forms See Qualified Charitable Distributions in Publication 590 for more information. Ez forms Ordinary income. Ez forms   Distributions from traditional IRAs that you include in income are taxed as ordinary income. Ez forms No special treatment. Ez forms   In figuring your tax, you cannot use the 10-year tax option or capital gain treatment that applies to lump-sum distributions from qualified retirement plans. Ez forms Distributions Fully or Partly Taxable Distributions from your traditional IRA may be fully or partly taxable, depending on whether your IRA includes any nondeductible contributions. Ez forms Fully taxable. Ez forms   If only deductible contributions were made to your traditional IRA (or IRAs, if you have more than one), you have no basis in your IRA. Ez forms Because you have no basis in your IRA, any distributions are fully taxable when received. Ez forms See Reporting taxable distributions on your return , later. Ez forms Partly taxable. Ez forms    If you made nondeductible contributions or rolled over any after-tax amounts to any of your traditional IRAs, you have a cost basis (investment in the contract) equal to the amount of those contributions. Ez forms These nondeductible contributions are not taxed when they are distributed to you. Ez forms They are a return of your investment in your IRA. Ez forms   Only the part of the distribution that represents nondeductible contributions and rolled over after-tax amounts (your cost basis) is tax free. Ez forms If nondeductible contributions have been made or after-tax amounts have been rolled over to your IRA, distributions consist partly of nondeductible contributions (basis) and partly of deductible contributions, earnings, and gains (if there are any). Ez forms Until all of your basis has been distributed, each distribution is partly nontaxable and partly taxable. Ez forms Form 8606. Ez forms   You must complete Form 8606 and attach it to your return if you receive a distribution from a traditional IRA and have ever made nondeductible contributions or rolled over after-tax amounts to any of your traditional IRAs. Ez forms Using the form, you will figure the nontaxable distributions for 2013 and your total IRA basis for 2013 and earlier years. Ez forms Note. Ez forms If you are required to file Form 8606, but you are not required to file an income tax return, you still must file Form 8606. Ez forms Send it to the IRS at the time and place you would otherwise file an income tax return. Ez forms Distributions reported on Form 1099-R. Ez forms   If you receive a distribution from your traditional IRA, you will receive Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Ez forms , or a similar statement. Ez forms IRA distributions are shown in boxes 1 and 2a of Form 1099-R. Ez forms A number or letter code in box 7 tells you what type of distribution you received from your IRA. Ez forms Withholding. Ez forms   Federal income tax is withheld from distributions from traditional IRAs unless you choose not to have tax withheld. Ez forms See chapter 4. Ez forms IRA distributions delivered outside the United States. Ez forms   In general, if you are a U. Ez forms S. Ez forms citizen or resident alien and your home address is outside the United States or its possessions, you cannot choose exemption from withholding on distributions from your traditional IRA. Ez forms Reporting taxable distributions on your return. Ez forms    Report fully taxable distributions, including early distributions on Form 1040, line 15b, or Form 1040A, line 11b (no entry is required on Form 1040, line 15a, or Form 1040A, line 11a). Ez forms If only part of the distribution is taxable, enter the total amount on Form 1040, line 15a, or Form 1040A, line 11a, and the taxable part on Form 1040, line 15b, or Form 1040A, line 11b. Ez forms You cannot report distributions on Form 1040EZ. Ez forms What Acts Result in Penalties or Additional Taxes? The tax advantages of using traditional IRAs for retirement savings can be offset by additional taxes and penalties if you do not follow the rules. Ez forms There are additions to the regular tax for using your IRA funds in prohibited transactions. Ez forms There are also additional taxes for the following activities. Ez forms Investing in collectibles. Ez forms Making excess contributions. Ez forms Taking early distributions. Ez forms Allowing excess amounts to accumulate (failing to take required distributions). Ez forms There are penalties for overstating the amount of nondeductible contributions and for failure to file a Form 8606, if required. Ez forms Prohibited Transactions Generally, a prohibited transaction is any improper use of your traditional IRA by you, your beneficiary, or any disqualified person. Ez forms Disqualified persons include your fiduciary and members of your family (spouse, ancestor, lineal descendent, and any spouse of a lineal descendent). Ez forms The following are examples of prohibited transactions with a traditional IRA. Ez forms Borrowing money from it. Ez forms Selling property to it. Ez forms Receiving unreasonable compensation for managing it. Ez forms Using it as security for a loan. Ez forms Buying property for personal use (present or future) with IRA funds. Ez forms Effect on an IRA account. Ez forms   Generally, if you or your beneficiary engages in a prohibited transaction in connection with your traditional IRA account at any time during the year, the account stops being an IRA as of the first day of that year. Ez forms Effect on you or your beneficiary. Ez forms   If your account stops being an IRA because you or your beneficiary engaged in a prohibited transaction, the account is treated as distributing all its assets to you at their fair market values on the first day of the year. Ez forms If the total of those values is more than your basis in the IRA, you will have a taxable gain that is includible in your income. Ez forms For information on figuring your gain and reporting it in income, see Are Distributions Taxable , earlier. Ez forms The distribution may be subject to additional taxes or penalties. Ez forms Taxes on prohibited transactions. Ez forms   If someone other than the owner or beneficiary of a traditional IRA engages in a prohibited transaction, that person may be liable for certain taxes. Ez forms In general, there is a 15% tax on the amount of the prohibited transaction and a 100% additional tax if the transaction is not corrected. Ez forms More information. Ez forms   For more information on prohibited transactions, see What Acts Result in Penalties or Additional Taxes? in chapter 1 of Publication 590. Ez forms Investment in Collectibles If your traditional IRA invests in collectibles, the amount invested is considered distributed to you in the year invested. Ez forms You may have to pay the 10% additional tax on early distributions, discussed later. Ez forms Collectibles. Ez forms   These include: Artworks, Rugs, Antiques, Metals, Gems, Stamps, Coins, Alcoholic beverages, and Certain other tangible personal property. Ez forms Exception. Ez forms    Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U. Ez forms S. Ez forms gold coins, or one-ounce silver coins minted by the Treasury Department. Ez forms It can also invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion. Ez forms Excess Contributions Generally, an excess contribution is the amount contributed to your traditional IRA(s) for the year that is more than the smaller of: The maximum deductible amount for the year. Ez forms For 2013, this is $5,500 ($6,500 if you are 50 or older), or Your taxable compensation for the year. Ez forms Tax on excess contributions. Ez forms   In general, if the excess contributions for a year are not withdrawn by the date your return for the year is due (including extensions), you are subject to a 6% tax. Ez forms You must pay the 6% tax each year on excess amounts that remain in your traditional IRA at the end of your tax year. Ez forms The tax cannot be more than 6% of the combined value of all your IRAs as of the end of your tax year. Ez forms Excess contributions withdrawn by due date of return. Ez forms   You will not have to pay the 6% tax if you withdraw an excess contribution made during a tax year and you also withdraw interest or other income earned on the excess contribution. Ez forms You must complete your withdrawal by the date your tax return for that year is due, including extensions. Ez forms How to treat withdrawn contributions. Ez forms   Do not include in your gross income an excess contribution that you withdraw from your traditional IRA before your tax return is due if both the following conditions are met. Ez forms No deduction was allowed for the excess contribution. Ez forms You withdraw the interest or other income earned on the excess contribution. Ez forms You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be withdrawn. Ez forms If there was a loss, the net income you must withdraw may be a negative amount. Ez forms How to treat withdrawn interest or other income. Ez forms   You must include in your gross income the interest or other income that was earned on the excess contribution. Ez forms Report it on your return for the year in which the excess contribution was made. Ez forms Your withdrawal of interest or other income may be subject to an additional 10% tax on early distributions, discus
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Understanding Your CP01S Notice

We received your Form 14039 or similar statement for your identity theft claim. We'll contact you when we finish processing your case or if we need additional information.


What you need to do

  • Continue to file your federal income tax returns as required by law.

You may want to


Answers to Common Questions

Q. Who should I contact if I have more questions about my account related to identity theft?

A. The Identity Protection Specialized Unit can assist you with questions regarding identity theft related to your account. You can call them at 1-800-908-4490. The number can also be found on your notice. For all other tax account related questions, contact the IRS help desk at 1-800-829-1040.

Where can I find more information on preventing identity theft?


Tips for next year

File your return as you normally would. If we find that someone is attempting to use your SSN for filing a tax return we will notify you and provide you with a PIN to use when filing your return.

 

 

 

Page Last Reviewed or Updated: 21-Jan-2014

Printable samples of this notice (PDF)

 

 

How to get help

  • Call the 1-800 number listed on the top right corner of your notice.
  • Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
     

The Ez Forms

Ez forms 30. Ez forms   Cómo Calcular los Impuestos Table of Contents Introduction Cómo Calcular los Impuestos Impuesto Mínimo Alternativo (AMT) Impuestos Calculados por el IRS Cómo Presentar la Declaración Introduction Una vez que haya calculado los ingresos y deducciones según se explica en las Partes Uno a Cinco, calcule los impuestos. Ez forms Este capítulo trata sobre los temas siguientes: Los pasos a seguir para calcular los impuestos, Un impuesto adicional que podría verse obligado a pagar, el cual se denomina “impuesto mínimo alternativo” (AMT, por sus siglas en inglés) y Las condiciones que tiene que cumplir si desea que el IRS le calcule los impuestos. Ez forms Cómo Calcular los Impuestos El impuesto sobre los ingresos se basa en los ingresos tributables. Ez forms Después de haber calculado el impuesto sobre los ingresos y el impuesto mínimo alternativo, si lo hubiera, reste los créditos tributarios y sume cualquier otro impuesto adeudado. Ez forms El resultado es el total de los impuestos. Ez forms Compare el total de los impuestos con el total de los pagos que ha efectuado para saber si tiene derecho a un reembolso o si tiene que efectuar un pago. Ez forms Esta sección expone los puntos generales para calcular el impuesto. Ez forms Puede encontrar instrucciones detalladas en las Instrucciones de los Formularios 1040EZ, 1040A y 1040. Ez forms Si no está seguro de qué formulario tributario debe presentar, vea ¿Qué Formulario Debo Usar? , en el capítulo 1. Ez forms Impuestos. Ez forms   La mayor parte de los contribuyentes utiliza la Tabla de Impuestos o la Hoja de Trabajo para el Cálculo del Impuesto para calcular el impuesto sobre el ingreso. Ez forms No obstante, existen métodos especiales si los ingresos incluyen cualquiera de los siguientes puntos: Una ganancia neta de capital. Ez forms (Vea el capítulo 16). Ez forms Dividendos calificados gravados a la misma tasa que una ganancia neta de capital. Ez forms (Vea los capítulos 8 y 16). Ez forms Distribuciones de suma global. Ez forms (Vea el capítulo 10). Ez forms Ingresos procedentes de la agricultura o pesca. Ez forms (Vea el Anexo J del Formulario 1040, Income Averaging for Farmers and Fishermen (Cómo calcular el promedio de ingresos para los agricultores y pescadores), en inglés. Ez forms Ingresos de inversiones de más de $2,000 para determinados hijos. Ez forms (Vea el capítulo 31). Ez forms Elección del padre o de la madre de declarar los intereses y dividendos de un hijo. Ez forms (Vea el capítulo 31). Ez forms Exclusión de ingresos devengados en el extranjero o exclusión por concepto de vivienda en el extranjero. Ez forms (Vea el Formulario 2555, Foreign Earned Income (Ingresos devengados en el extranjero) o el Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingresos devengados en el extranjero) y el Foreign Earned Income Tax Worksheet (Hoja de trabajo para los impuestos sobre ingresos devengados en el extranjero) de las Instrucciones del Formulario 1040), todos en inglés. Ez forms Créditos. Ez forms   Luego de haber calculado el impuesto sobre los ingresos y todo impuesto mínimo alternativo (explicado más adelante), verifique si tiene derecho a algún crédito tributario. Ez forms Puede encontrar información para saber si tiene derecho a estos créditos tributarios en los capítulos 32 al 37 y en las instrucciones de los formularios de impuestos. Ez forms La tabla a continuación muestra los créditos que tal vez pueda restar del impuesto y le indica en dónde puede encontrar más información sobre cada crédito. Ez forms CRÉDITOS Para información sobre: Vea el   capítulo: Adopción 37 Vehículo motorizado alternativo 37 Propiedad para reabastecimiento de vehículos con combustible alternativo 37 Cuidado de menores y dependientes 32 Crédito tributario por hijos 34 Crédito para titulares de bonos de crédito tributario 37 Estudios 35 Ancianos o personas incapacitadas 33 Crédito por vehículos eléctricos 37 Impuestos del extranjero 37 Intereses hipotecarios 37 Impuesto mínimo de años anteriores 37 Energía residencial 37 Aportaciones a arreglos de ahorros para la jubilación 37   Hay algunos créditos (como el crédito por ingreso del trabajo) que no aparecen en la lista porque se consideran pagos. Ez forms Vea Pagos , más adelante. Ez forms   Existen otros créditos no abordados en esta publicación. Ez forms Éstos abarcan los siguientes créditos: Crédito general para negocios, el cual se compone de distintos créditos relacionados con los negocios. Ez forms Éstos suelen declararse en el Formulario 3800, General Business Credit (Crédito general para negocios) y se explican en el capítulo 4 de la Publicación 334, Tax Guide for Small Business (Guía tributaria para pequeños negocios), ambos en inglés. Ez forms Crédito por producción de electricidad renovable, carbón refinado y carbón de yacimientos en tierras pertenecientes a indios para electricidad y carbón refinado producidos en instalaciones puestas en funcionamiento después del 22 de octubre de 2004 (después del 2 de octubre de 2008, para la electricidad producida mediante la energía hidrocinética renovable y la energía marina renovable) y carbón de yacimientos en tierras pertenecientes a indios producido en instalaciones puestas en funcionamiento después del 8 de agosto de 2005. Ez forms Vea la Parte II del Formulario 8835, Renewable Electricity, Refined Coal, and Indian Coal Production Credit (Crédito por producción de electricidad renovable, carbón refinado y carbón de yacimientos en tierras pertenecientes a indios), en inglés. Ez forms Crédito de oportunidad laboral. Ez forms Vea el Formulario 5884, Work Opportunity Credit (Crédito de oportunidad laboral), en inglés. Ez forms Crédito por impuestos del Seguro Social y Medicare del empleador pagados sobre ciertas propinas del empleado. Ez forms Vea el Formulario 8846, Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips (Crédito por impuestos del Seguro Social y del Medicare pagados por el empleador sobre ciertas propinas del empleado), en inglés. Ez forms Otros impuestos. Ez forms   Después de haber restado los créditos tributarios, determine si tiene que pagar impuestos adicionales. Ez forms Este capítulo no explica dichos impuestos adicionales. Ez forms Esa información aparece en otros capítulos de esta publicación y en las instrucciones de los formularios. Ez forms Consulte la tabla siguiente para ver otros impuestos que tal vez necesite sumar al impuesto sobre los ingresos. Ez forms OTROS IMPUESTOS Para información sobre: Vea el   capítulo: Impuestos adicionales sobre planes de jubilación y arreglos IRA calificados 10, 17 Impuestos sobre el empleo de empleados domésticos 32 Recuperación de un crédito para estudios 35 Impuesto del Seguro Social y Medicare sobre el salario 5 Impuesto del Seguro Social y Medicare sobre las propinas 6 Impuestos no retenidos del Seguro Social y Medicare sobre propinas 6   Usted quizás podría verse obligado a pagar el impuesto mínimo alternativo (el cual se explica más adelante en este capítulo). Ez forms   Existen impuestos adicionales que no se explican en esta publicación. Ez forms Éstos abarcan lo siguiente: Impuesto sobre el trabajo por cuenta propia. Ez forms Tiene que calcular este impuesto si cualquiera de las dos condiciones siguientes le corresponde (o a su cónyuge, si usted presenta una declaración conjunta). Ez forms Tiene ganancias netas provenientes del trabajo por cuenta propia de $400 o más, salvo ingresos de un empleado de una iglesia. Ez forms El término “ganancias netas provenientes del trabajo por cuenta propia” puede incluir determinada remuneración que no recibió como empleado y otras cantidades detalladas en el Formulario 1099-MISC, Miscellaneous Income (Ingresos misceláneos), en inglés. Ez forms Si recibió el Formulario 1099-MISC, vea las Instructions for Recipient (Instrucciones para el destinatario), al dorso del mismo. Ez forms Asimismo, vea las instrucciones del Anexo SE del Formulario 1040, Self-Employment Tax (Impuesto sobre el trabajo por cuenta propia) y la Publicación 334, Tax Guide for Small Business (Guía tributaria para pequeños negocios), ambas en inglés. Ez forms Recibió ingresos de $108. Ez forms 28 o más como empleado de una iglesia. Ez forms Impuesto Adicional del Medicare. Ez forms Comenzando en el año 2013, usted quizás podría estar sujeto a un Impuesto Adicional del Medicare de 0. Ez forms 9%, que se le aplica a los salarios sujetos al impuesto Medicare, la remuneración recibida conforme a la Railroad Retirement Act (Ley de Jubilación Ferroviaria) y el ingreso sobre el trabajo por cuenta propia que esté sobre cierta cantidad según su estado civil para efectos de la declaración. Ez forms Si desea más información, vea las instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8959, ambas disponibles en inglés. Ez forms Impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). Ez forms Comenzando en el año 2013, usted quizás podría estar sujeto al impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). Ez forms El NIIT es un impuesto de 3. Ez forms 8% sobre la cantidad menor entre el ingreso neto de inversión o la cantidad en exceso de su ingreso bruto ajustado modificado sobre una cantidad límite. Ez forms Si desea más información, vea las instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8960, ambas disponibles en inglés. Ez forms Impuestos sobre recuperaciones. Ez forms Podría verse obligado a pagar estos impuestos si antes ha reclamado un crédito por inversiones, crédito de vivienda para personas de bajos recursos, crédito por mercados nuevos, crédito por vehículos enchufables con motor de dirección eléctrica que reúnen los requisitos, crédito por vehículo motorizado alternativo, crédito por instalaciones para proveer cuidado de niños provistas por el empleador, crédito por empleo de indios estadounidenses u otros créditos enumerados en las instrucciones para la línea 60 del Formulario 1040. Ez forms Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Ez forms Impuesto sobre beneficios en exceso de la sección 72(m)(5). Ez forms Si usted es (o fue) propietario del 5% de un negocio y recibió una distribución superior a los beneficios que se le ofrecen conforme a la fórmula para planes de pensiones o de anualidades calificados, tal vez tenga que pagar este impuesto adicional. Ez forms Vea Tax on Excess Benefits (Impuesto sobre beneficios en exceso), en el capítulo 4 de la Publicación 560, Retirement Plans for Small Business (Planes de jubilación para pequeños negocios), en inglés. Ez forms Impuesto del Seguro Social y Medicare sobre el seguro de vida colectivo a término fijo que no fue recaudado. Ez forms Si su antiguo empleador proveyó más de $50,000 en cobertura de seguro de vida colectivo a término fijo, usted tiene que pagar la parte correspondiente al empleado de los impuestos del Seguro Social y Medicare sobre esas primas. Ez forms La cantidad debe aparecer en el recuadro 12 del Formulario W-2 con los códigos M y N. Ez forms Impuestos sobre pagos de contrato blindado. Ez forms Este impuesto le corresponde si recibió un “pago de contrato blindado en exceso” ( “excess parachute payment” o EPP, por sus siglas en inglés) debido a un cambio de propietario o administración de la empresa. Ez forms La cantidad de este impuesto debe estar indicada en el recuadro 12 del Formulario W-2 con el código K. Ez forms Vea las instrucciones para la línea 60 del Formulario 1040. Ez forms Impuestos sobre distribuciones acumuladas de fideicomisos. Ez forms Esto le corresponde si es el beneficiario de un fideicomiso que haya acumulado ingresos, en vez de haberlos distribuido a intervalos regulares. Ez forms Vea el Formulario 4970, Tax on Accumulation Distribution of Trusts (Impuestos sobre distribuciones acumuladas de fideicomisos), y sus instrucciones, en inglés. Ez forms Impuestos adicionales sobre las cuentas HSA o MSA. Ez forms Puede que tenga que pagar impuestos adicionales si las cantidades que se han aportado a su cuenta de ahorros para la salud (HSA, por sus siglas en inglés) o su cuenta de ahorros para gastos médicos (MSA, por sus siglas en inglés) o las cantidades que se han distribuido de éstas no cumplen los requisitos correspondientes a dichas cuentas. Ez forms Vea la Publicación 969, Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para la salud y otros planes para la salud con beneficios tributarios); el Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Cuentas Archer MSA de ahorros médicos y contratos del seguro de cuidado a largo plazo); Formulario 8889, Health Savings Accounts (HSAs) (Cuentas de ahorros médicos (HSA, por sus siglas en inglés)) y el Formulario 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts (Impuestos adicionales sobre planes calificados (incluidos los arreglos IRA) y otras cuentas con beneficios tributarios), todos en inglés. Ez forms Impuestos adicionales en cuentas Coverdell ESA para estudios. Ez forms Esto es aplicable si las cantidades que se han aportado a su cuenta Coverdell ESA para estudios o que se han distribuido de la misma no satisfacen los requisitos correspondientes a dichas cuentas. Ez forms Vea la Publicación 970, Tax Benefits for Education (Prestaciones tributarias para estudios) y el Formulario 5329, ambos en inglés. Ez forms Impuestos adicionales sobre programas de matrícula calificada. Ez forms Esto corresponde a cantidades distribuidas de programas de matrícula calificada generales pero que no cumplan los requisitos de dichas cuentas. Ez forms Vea la Publicación 970 y el Formulario 5329, ambos en inglés. Ez forms Impuestos sobre artículos de uso y consumo gravados sobre remuneraciones de acciones internas de una empresa expatriada. Ez forms Tal vez adeude un impuesto sobre artículos de uso y consumo del 15% sobre el valor de opciones de acciones no estatutarias y sobre otra remuneración determinada procedente de las acciones, de las cuales usted o un miembro de su familia es dueño, que es de una empresa expatriada o su grupo ampliado de filiales en las que usted fue ejecutivo, directivo o propietario de más del 10%. Ez forms Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Ez forms Impuestos adicionales sobre ingresos recibidos de un plan de remuneración diferida no calificado que no reúna determinados requisitos adicionales. Ez forms Estos ingresos tienen que aparecer en el recuadro 12 del Formulario W-2, con el código Z o en el recuadro 15b del Formulario 1099-MISC. Ez forms Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Ez forms Intereses sobre los impuestos adeudados sobre ingresos de pagos a plazo procedentes de la venta de ciertos terrenos residenciales y multipropiedades. Ez forms Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Ez forms Intereses sobre los impuestos diferidos sobre ganancias de ciertas ventas a plazos con precio de venta superior a $150,000. Ez forms Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. Ez forms Devolución del crédito tributario para comprador de primera vivienda. Ez forms Si desea más información, vea el Formulario 5405, Repayment of the First-Time Homebuyer Credit (Devolución del crédito tributario para comprador de primera vivienda) y sus instrucciones, disponibles en inglés. Ez forms Además, vea las instrucciones para la línea 59b del Formulario 1040, en inglés. Ez forms Pagos. Ez forms   Después de calcular el impuesto total, calcule el total de los pagos que ya haya efectuado para el año. Ez forms Incluya los créditos que se tratan como pagos. Ez forms Este capítulo no explica dichos pagos ni créditos. Ez forms Esa información aparece en otros capítulos de esta publicación y en las instrucciones de los formularios. Ez forms Vea la siguiente tabla para saber qué cantidades se pueden incluir en el total de sus pagos. Ez forms PAGOS Para información sobre: Vea el   capítulo: Crédito tributario por hijos (adicional) 34 Crédito por ingreso del trabajo 36 Impuestos estimados pagados 4 Impuestos de Seguro Social o impuestos de la jubilación ferroviaria retenidos en exceso 37 Retención del impuesto federal sobre los ingresos 4 Crédito tributario por cobertura del seguro médico 37 Crédito por sociedad inversionista reglamentada 37 Impuesto pagado a través de prórroga 1   Otro crédito que se considera un pago es el crédito por concepto del impuesto federal sobre artículos de uso y consumo pagado sobre combustibles. Ez forms Este crédito es para personas que hagan uso no tributable de determinados combustibles, tales como diésel y keroseno. Ez forms Se declara en la línea 70 del Formulario 1040. Ez forms Vea el Formulario 4136, Credit for Federal Tax Paid on Fuels (Crédito por impuestos federales pagados sobre combustibles), en inglés. Ez forms Reembolso o saldo adeudado. Ez forms   Para saber si tiene derecho a recibir un reembolso o si tiene que efectuar algún pago, compare el total de los pagos con el total del impuesto. Ez forms Si tiene derecho a un reembolso, vea las instrucciones del formulario que presentará para saber cómo puede depositar dicho reembolso directamente en una o más de sus cuentas o para comprar bonos de ahorros de los Estados Unidos en vez de recibir un cheque en papel. Ez forms Impuesto Mínimo Alternativo (AMT) Esta sección explica brevemente el impuesto adicional que podría verse obligado a pagar. Ez forms La ley tributaria les da un trato especial a determinados tipos de ingresos y permite deducciones y créditos especiales para algunos tipos de gastos. Ez forms Los contribuyentes que se vean beneficiados por este trato particular podrían estar obligados a pagar al menos una cantidad mínima de impuestos mediante otro impuesto adicional denominado “impuesto mínimo alternativo” (AMT, por sus siglas en inglés). Ez forms Tal vez tenga que pagar el impuesto mínimo alternativo si sus ingresos tributables para fines tributarios normales, sumados a determinados ajustes y elementos de preferencia tributaria, superan una determinada cantidad. Ez forms Vea el Formulario 6251, Alternative Minimum Tax — Individuals (Impuesto mínimo alternativo — personas físicas), en inglés. Ez forms Ajustes y elementos de preferencia tributaria. Ez forms   Los ajustes más comunes y elementos de preferencia tributaria abarcan los siguientes casos: Inclusión de exenciones personales, Inclusión de la deducción estándar (si ésta se reclamó), Inclusión de deducciones detalladas por concepto de impuestos estatales y locales, determinados intereses, la mayor parte de las deducciones misceláneas y parte de los gastos médicos, Exclusión de todo reembolso de impuestos estatales y locales que se haya incluido en los ingresos brutos, Cambios en la depreciación acelerada de determinados bienes, La diferencia entre ganancias y pérdidas sobre la venta de bienes declarada para fines tributarios normales y del impuesto mínimo alternativo, Inclusión de determinados ingresos procedentes de opciones de compra de acciones con incentivo, Cambio en ciertas deducciones por pérdidas de actividades pasivas, Inclusión de algún valor de agotamiento que sea superior a la base ajustada de los bienes, Inclusión de una parte de la deducción por ciertos gastos de perforación intangibles e Inclusión de intereses exentos de impuestos sobre determinados bonos de una actividad privada. Ez forms Información adicional. Ez forms   Para más información acerca del impuesto mínimo alternativo, vea las Instrucciones para el Formulario 6251, en inglés. Ez forms Impuestos Calculados por el IRS Si presenta la declaración para el 15 de abril de 2014, puede pedir que el IRS le calcule los impuestos en el Formulario 1040EZ, el Formulario 1040A o el Formulario 1040. Ez forms Si el IRS le calcula los impuestos y usted pagó demasiado, recibirá un reembolso. Ez forms Si no pagó lo suficiente, recibirá una factura que indique el saldo adeudado. Ez forms Para no tener que pagar intereses o una multa por pagos morosos, tiene que pagar la factura dentro de 30 días a partir de la fecha de la factura o para la fecha de vencimiento para la presentación de la declaración, la que ocurra más tarde. Ez forms El IRS también le calcula el crédito para ancianos o personas incapacitadas además del crédito por ingreso del trabajo. Ez forms Cuándo el IRS no puede calcularle los impuestos. Ez forms   El IRS no puede calcularle los impuestos si se da alguna de las siguientes condiciones: Desea que el reembolso se deposite directamente en sus cuentas. Ez forms Desea que alguna parte del reembolso se aplique al impuesto estimado de 2014. Ez forms Recibió ingresos para el año de fuentes que no sean salarios, sueldos, propinas, intereses, dividendos, beneficios de Seguro Social sujetos a impuestos, compensación por desempleo, distribuciones de un arreglo IRA, pensiones y anualidades. Ez forms Su ingreso tributable es $100,000 o más. Ez forms Detalla las deducciones. Ez forms Presenta cualquiera de los siguientes formularios: Formulario 2555, Foreign Earned Income (Ingresos devengados en el extranjero), en inglés. Ez forms Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingresos devengados en el extranjero), en inglés. Ez forms Formulario 4137, Social Security and Medicare Tax on Unreported Tip Income (Impuestos del Seguro Social y Medicare sobre el ingreso de propinas no declaradas), en inglés. Ez forms Formulario 4970, Tax on Accumulation Distribution of Trusts (Impuesto sobre distribuciones acumuladas de un fideicomiso), en inglés. Ez forms Formulario 4972, Tax on Lump-Sum Distributions (Impuesto sobre distribuciones de sumas globales), en inglés. Ez forms Formulario 6198, At-Risk Limitations (Límites sobre el monto en riesgo), en inglés. Ez forms Formulario 6251, Alternative Minimum Tax—Individuals (Impuesto mínimo alternativo—personas físicas), en inglés. Ez forms Formulario 8606, Nondeductible IRAs (Arreglos IRA no deducibles), en inglés. Ez forms Formulario 8615, Tax for Certain Children Who Have Unearned Income (Impuesto para determinados hijos con ingresos no derivados del trabajo), en inglés. Ez forms Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Decisión de los padres de declarar los intereses y dividendos del hijo), en inglés. Ez forms Formulario 8839, Qualified Adoption Expenses (Gastos de adopción calificados), en inglés. Ez forms Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Planes de ahorros para gastos médicos Archer y contratos de seguro para cuidados a largo plazo), en inglés. Ez forms Formulario 8889, Health Savings Accounts (HSAs) (Cuentas de ahorro para gastos médicos (HSA)), en inglés. Ez forms Formulario 8919, Uncollected Social Security and Medicare Tax on Wages (Impuestos sobre salarios sujetos al Seguro Social y al Medicare no recaudados), en inglés. Ez forms Cómo Presentar la Declaración Después de haber completado las líneas del formulario de impuestos que va a presentar, escriba su nombre y dirección. Ez forms En el espacio provisto, anote su número de Seguro Social. Ez forms Si es casado, escriba los números de Seguro Social de usted y su cónyuge aun si presenta una declaración por separado. Ez forms Firme y feche la declaración y escriba su(s) oficio(s). Ez forms Si presenta una declaración conjunta, usted y su cónyuge tienen que firmarla. Ez forms En el espacio provisto, anote un número telefónico con su código de área donde ubicarlo durante el día. Ez forms Esto agilizará la tramitación de su declaración si el IRS tiene una pregunta que puede ser resuelta por teléfono. Ez forms Si presenta una declaración conjunta de impuestos, anote el número de teléfono donde usted o su cónyuge pueden ser localizados durante el día. Ez forms Si desea autorizar al IRS para que hable sobre su declaración de impuestos del año 2013 con su amigo, con un miembro de su familia o con cualquier persona que usted elija, marque el recuadro “ Yes ” (Sí) en el área titulada “ Third Party Designee ” (Designación de un tercero) de su declaración de impuestos. Ez forms También, escriba el nombre del designado, número de teléfono y cualesquier 5 dígitos que el designado elija como su número de identificación personal (PIN, por sus siglas en inglés). Ez forms Si marca el recuadro “ Yes ” (Sí), usted y su cónyuge, si presentan una declaración conjunta, autoriza(n) a los empleados del IRS a llamar al designado para que éste conteste toda pregunta que surja durante el trámite de su declaración de impuestos. Ez forms Complete y adjunte a su declaración en papel cualesquier anexo y formulario solicitado en las líneas que usted completó. Ez forms Adjunte una copia de cada uno de los Formularios W-2 a la declaración en papel. Ez forms Además, adjunte a su declaración en papel todo Formulario 1099-R recibido que indique retención de impuestos en el recuadro 4. Ez forms Envíe la declaración al Internal Revenue Service Center (Centro de Servicio del IRS) que corresponda al área donde vive. Ez forms Una lista de direcciones de Centros de Servicio se halla al final de la publicación y en las instrucciones de su declaración de impuestos. Ez forms Datos a Incluir en el Formulario 1040EZ Lea las líneas 1 a 8b y llene las líneas que le correspondan. Ez forms No llene las líneas 9 a 12. Ez forms Si presenta una declaración conjunta, utilice el espacio a la izquierda de la línea 6 para indicar por separado los ingresos tributables suyos y los de su cónyuge. Ez forms Pagos. Ez forms   Anote en la línea 7 todo impuesto federal sobre los ingresos que se le haya retenido. Ez forms El impuesto federal sobre los ingresos retenido aparece en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099. Ez forms Crédito por ingreso del trabajo. Ez forms   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo puede calcular. Ez forms Escriba “EIC” en el espacio a la izquierda de la línea 8a. Ez forms Anote en la línea 8b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. Ez forms   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, quizás tenga que presentar junto con la declaración el Formulario 8862(SP), Información Para Reclamar el Crédito Por Ingreso del Trabajo Después de Haber Sido Denegado (o el Formulario 8862, Information To Claim Earned Income Credit After Disallowance, en inglés). Ez forms Para detalles adicionales, vea las Instrucciones para el Formulario 1040EZ, en inglés. Ez forms Datos a Incluir en el Formulario 1040A Lea las líneas 1 a 27 y llene las líneas que le correspondan. Ez forms Si presenta una declaración conjunta, utilice el espacio a la izquierda de la línea 27 para indicar por separado los ingresos tributables suyos y los de su cónyuge. Ez forms No llene la línea 28. Ez forms Llene las líneas 29 a 33 y 36 a 40 si le corresponden. Ez forms Sin embargo, no llene las líneas 30 ni 38a si desea que el IRS le calcule los créditos indicados en dichas líneas. Ez forms Además, escriba toda información adicional que le corresponda en el espacio a la izquierda de la línea 41. Ez forms No llene las líneas 34, 35 ni 42 a la 46. Ez forms Pagos. Ez forms   Anote todo impuesto federal retenido sobre los ingresos que se indique en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099, en la línea 36. Ez forms Anote en la línea 37 todo pago de impuesto estimado que haya efectuado. Ez forms Crédito por gastos del cuidado de menores y dependientes. Ez forms   Si puede reclamar este crédito, según se explica en el capítulo 32 , complete el Formulario 2441, Child and Dependent Care Expenses (Gastos del cuidado de menores y dependientes), en inglés, y adjúntelo a su declaración. Ez forms Anote la cantidad del crédito en la línea 29. Ez forms El IRS no le calculará este crédito. Ez forms Crédito para ancianos o personas incapacitadas. Ez forms   Si puede reclamar este crédito, según se explica en el capítulo 33 , el IRS le calculará este crédito. Ez forms Escriba “ CFE ” en el espacio a la izquierda de la línea 30 y adjunte el Anexo R del Formulario 1040, Credit for the Elderly or the Disabled (Crédito para ancianos o personas incapacitadas), en inglés, a su declaración de impuestos en papel. Ez forms En el Anexo R, marque el recuadro de la Parte I correspondiente a su estado civil para efectos de la declaración y edad. Ez forms Complete la Parte II y las líneas 11 y 13 de la Parte III, si le corresponden. Ez forms Crédito por ingreso del trabajo. Ez forms   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo calculará. Ez forms Anote “EIC” a la izquierda del espacio de la línea 38a. Ez forms Anote en la línea 38b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. Ez forms   Si tiene un hijo que le da derecho a este crédito, tiene que llenar el Anexo EIC (Formulario 1040 ó 1040A), Earned Income Credit (Crédito por ingreso del trabajo), en inglés, y adjuntarlo a su declaración en papel. Ez forms Si no provee el número de Seguro Social de su hijo en la línea 2 del Anexo EIC, el crédito será reducido o denegado a menos que el hijo haya nacido y fallecido en el año 2013. Ez forms   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, tal vez tenga que presentar junto con la declaración el Formulario 8862(SP) (o el Formulario 8862, en inglés). Ez forms Para detalles adicionales, vea las Instrucciones para el Formulario 1040A. Ez forms Datos a Incluir en el Formulario 1040 Lea las líneas 1 a 43 y llene las líneas que le correspondan. Ez forms No llene la línea 44. Ez forms Si presenta una declaración conjunta, utilice el espacio bajo las palabras “ Adjusted Gross Income ” (Ingresos brutos ajustados), en la primera página de la declaración para indicar por separado los ingresos tributables suyos y los de su cónyuge. Ez forms Lea las líneas 45 a la 71. Ez forms Llene las líneas que le correspondan, pero no llene las líneas 54, 61 ni 72. Ez forms Además, no complete la línea 55 ni las líneas 73 a 77. Ez forms No llene el recuadro “ c ” de la línea 53 si completa el Anexo R del Formulario 1040A o 1040, ni la línea 64a si desea que el IRS le calcule los créditos indicados en dichas líneas. Ez forms Pagos. Ez forms   Anote todo impuesto federal retenido sobre los ingresos que se indique en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099, en la línea 62. Ez forms Anote en la línea 63 todo pago de impuesto estimado que haya efectuado. Ez forms Crédito por gastos del cuidado de menores y dependientes. Ez forms   Si puede reclamar este crédito, según se explica en el capítulo 32 , complete el Formulario 2441, en inglés, y adjúntelo a su declaración en papel. Ez forms Anote la cantidad del crédito en la línea 48. Ez forms El IRS no le calculará este crédito. Ez forms Crédito para ancianos o personas incapacitadas. Ez forms   Si puede reclamar este crédito, según se explica en el capítulo 33 , el IRS puede calcularle este crédito. Ez forms Escriba “CFE” al lado de la línea 53 y marque el recuadro “ c ” y adjunte el Anexo R del Formulario 1040A o 1040 a su declaración en papel. Ez forms En el Anexo R del Formulario 1040A o 1040, marque el recuadro de la Parte I correspondiente a su estado civil para efectos de la declaración y edad. Ez forms Complete la Parte II y las líneas 11 y 13 de la Parte III, si le corresponden. Ez forms Crédito por ingreso del trabajo. Ez forms   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo calculará. Ez forms Anote “EIC” en la línea de puntos al lado de la línea 64a del Formulario 1040. Ez forms Anote en la línea 64b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. Ez forms   Si tiene un hijo que le dé derecho a este crédito, tiene que llenar el Anexo EIC, Earned Income Credit (Crédito por ingreso del trabajo), en inglés, y adjuntarlo a su declaración en papel. Ez forms Si no provee el número de Seguro Social de su hijo en la línea 2 del Anexo EIC (Formulario 1040 ó 1040A), el crédito será reducido o denegado a menos que su hijo haya nacido y fallecido en el año 2013. Ez forms   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, tal vez tenga que presentar junto con la declaración el Formulario 8862(SP), (o el Formulario 8862, en inglés). Ez forms Para detalles adicionales, vea las Instrucciones para el Formulario 1040, en inglés. Ez forms Prev  Up  Next   Home   More Online Publications