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Federal Income Tax Forms 2011

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Federal Income Tax Forms 2011

Federal income tax forms 2011 Publication 969 - Main Content Table of Contents Health Savings Accounts (HSAs)Qualifying for an HSA Contributions to an HSA Distributions From an HSA Balance in an HSA Death of HSA Holder Filing Form 8889 Employer Participation Medical Savings Accounts (MSAs)Archer MSAs Contributions to an MSA Distributions From an MSA Balance in an Archer MSA Death of the Archer MSA Holder Filing Form 8853 Employer Participation Medicare Advantage MSAs Flexible Spending Arrangements (FSAs)Qualifying for an FSA Contributions to an FSA Distributions From an FSA Balance in an FSA Employer Participation Health Reimbursement Arrangements (HRAs)Qualifying for an HRA Contributions to an HRA Distributions From an HRA Balance in an HRA Employer Participation How To Get Tax HelpLow Income Taxpayer Clinics Health Savings Accounts (HSAs) A health savings account (HSA) is a tax-exempt trust or custodial account you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur. Federal income tax forms 2011 You must be an eligible individual to qualify for an HSA. Federal income tax forms 2011 No permission or authorization from the IRS is necessary to establish an HSA. Federal income tax forms 2011 You set up an HSA with a trustee. Federal income tax forms 2011 A qualified HSA trustee can be a bank, an insurance company, or anyone already approved by the IRS to be a trustee of individual retirement arrangements (IRAs) or Archer MSAs. Federal income tax forms 2011 The HSA can be established through a trustee that is different from your health plan provider. Federal income tax forms 2011 Your employer may already have some information on HSA trustees in your area. Federal income tax forms 2011 If you have an Archer MSA, you can generally roll it over into an HSA tax free. Federal income tax forms 2011 See Rollovers, later. Federal income tax forms 2011 What are the benefits of an HSA?   You may enjoy several benefits from having an HSA. Federal income tax forms 2011 You can claim a tax deduction for contributions you, or someone other than your employer, make to your HSA even if you do not itemize your deductions on Form 1040. Federal income tax forms 2011 Contributions to your HSA made by your employer (including contributions made through a cafeteria plan) may be excluded from your gross income. Federal income tax forms 2011 The contributions remain in your account until you use them. Federal income tax forms 2011 The interest or other earnings on the assets in the account are tax free. Federal income tax forms 2011 Distributions may be tax free if you pay qualified medical expenses. Federal income tax forms 2011 See Qualified medical expenses , later. Federal income tax forms 2011 An HSA is “portable. Federal income tax forms 2011 ” It stays with you if you change employers or leave the work force. Federal income tax forms 2011 Qualifying for an HSA To be an eligible individual and qualify for an HSA, you must meet the following requirements. Federal income tax forms 2011 You must be covered under a high deductible health plan (HDHP), described later, on the first day of the month. Federal income tax forms 2011 You have no other health coverage except what is permitted under Other health coverage , later. Federal income tax forms 2011 You are not enrolled in Medicare. Federal income tax forms 2011 You cannot be claimed as a dependent on someone else's 2013 tax return. Federal income tax forms 2011 Under the last-month rule, you are considered to be an eligible individual for the entire year if you are an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers). Federal income tax forms 2011 If you meet these requirements, you are an eligible individual even if your spouse has non-HDHP family coverage, provided your spouse's coverage does not cover you. Federal income tax forms 2011 If another taxpayer is entitled to claim an exemption for you, you cannot claim a deduction for an HSA contribution. Federal income tax forms 2011 This is true even if the other person does not actually claim your exemption. Federal income tax forms 2011 Each spouse who is an eligible individual who wants an HSA must open a separate HSA. Federal income tax forms 2011 You cannot have a joint HSA. Federal income tax forms 2011 High deductible health plan (HDHP). Federal income tax forms 2011   An HDHP has: A higher annual deductible than typical health plans, and A maximum limit on the sum of the annual deductible and out-of-pocket medical expenses that you must pay for covered expenses. Federal income tax forms 2011 Out-of-pocket expenses include copayments and other amounts, but do not include premiums. Federal income tax forms 2011   An HDHP may provide preventive care benefits without a deductible or with a deductible less than the minimum annual deductible. Federal income tax forms 2011 Preventive care includes, but is not limited to, the following. Federal income tax forms 2011 Periodic health evaluations, including tests and diagnostic procedures ordered in connection with routine examinations, such as annual physicals. Federal income tax forms 2011 Routine prenatal and well-child care. Federal income tax forms 2011 Child and adult immunizations. Federal income tax forms 2011 Tobacco cessation programs. Federal income tax forms 2011 Obesity weight-loss programs. Federal income tax forms 2011 Screening services. Federal income tax forms 2011 This includes screening services for the following: Cancer. Federal income tax forms 2011 Heart and vascular diseases. Federal income tax forms 2011 Infectious diseases. Federal income tax forms 2011 Mental health conditions. Federal income tax forms 2011 Substance abuse. Federal income tax forms 2011 Metabolic, nutritional, and endocrine conditions. Federal income tax forms 2011 Musculoskeletal disorders. Federal income tax forms 2011 Obstetric and gynecological conditions. Federal income tax forms 2011 Pediatric conditions. Federal income tax forms 2011 Vision and hearing disorders. Federal income tax forms 2011 For more information on screening services, see Notice 2004-23, 2004-15 I. Federal income tax forms 2011 R. Federal income tax forms 2011 B. Federal income tax forms 2011 725 available at www. Federal income tax forms 2011 irs. Federal income tax forms 2011 gov/irb/2004-15_IRB/ar10. Federal income tax forms 2011 html. Federal income tax forms 2011     The following table shows the minimum annual deductible and maximum annual deductible and other out-of-pocket expenses for HDHPs for 2013. Federal income tax forms 2011      Self-only coverage Family coverage Minimum annual deductible $1,250 $2,500 Maximum annual deductible and other out-of-pocket expenses* $6,250 $12,500 * This limit does not apply to deductibles and expenses for out-of-network services if the plan uses a network of providers. Federal income tax forms 2011 Instead, only deductibles and out-of-pocket expenses for services within the network should be used to figure whether the limit applies. Federal income tax forms 2011    The following table shows the minimum annual deductible and maximum annual deductible and other out-of-pocket expenses for HDHPs for 2014. Federal income tax forms 2011      Self-only coverage Family coverage Minimum annual deductible $1,250 $2,500 Maximum annual deductible and other out-of-pocket expenses* $6,350 $12,700 * This limit does not apply to deductibles and expenses for out-of-network services if the plan uses a network of providers. Federal income tax forms 2011 Instead, only deductibles and out-of-pocket expenses for services within the network should be used to figure whether the limit applies. Federal income tax forms 2011   Self-only HDHP coverage is an HDHP covering only an eligible individual. Federal income tax forms 2011 Family HDHP coverage is an HDHP covering an eligible individual and at least one other individual (whether or not that individual is an eligible individual). Federal income tax forms 2011 Example. Federal income tax forms 2011 An eligible individual and his dependent child are covered under an “employee plus one” HDHP offered by the individual's employer. Federal income tax forms 2011 This is family HDHP coverage. Federal income tax forms 2011 Family plans that do not meet the high deductible rules. Federal income tax forms 2011   There are some family plans that have deductibles for both the family as a whole and for individual family members. Federal income tax forms 2011 Under these plans, if you meet the individual deductible for one family member, you do not have to meet the higher annual deductible amount for the family. Federal income tax forms 2011 If either the deductible for the family as a whole or the deductible for an individual family member is less than the minimum annual deductible for family coverage, the plan does not qualify as an HDHP. Federal income tax forms 2011 Example. Federal income tax forms 2011 You have family health insurance coverage in 2013. Federal income tax forms 2011 The annual deductible for the family plan is $3,500. Federal income tax forms 2011 This plan also has an individual deductible of $1,500 for each family member. Federal income tax forms 2011 The plan does not qualify as an HDHP because the deductible for an individual family member is less than the minimum annual deductible ($2,500) for family coverage. Federal income tax forms 2011 Other health coverage. Federal income tax forms 2011   You (and your spouse, if you have family coverage) generally cannot have any other health coverage that is not an HDHP. Federal income tax forms 2011 However, you can still be an eligible individual even if your spouse has non-HDHP coverage provided you are not covered by that plan. Federal income tax forms 2011    You can have additional insurance that provides benefits only for the following items. Federal income tax forms 2011 Liabilities incurred under workers' compensation laws, tort liabilities, or liabilities related to ownership or use of property. Federal income tax forms 2011 A specific disease or illness. Federal income tax forms 2011 A fixed amount per day (or other period) of hospitalization. Federal income tax forms 2011   You can also have coverage (whether provided through insurance or otherwise) for the following items. Federal income tax forms 2011 Accidents. Federal income tax forms 2011 Disability. Federal income tax forms 2011 Dental care. Federal income tax forms 2011 Vision care. Federal income tax forms 2011 Long-term care. Federal income tax forms 2011    Plans in which substantially all of the coverage is through the items listed earlier are not HDHPs. Federal income tax forms 2011 For example, if your plan provides coverage substantially all of which is for a specific disease or illness, the plan is not an HDHP for purposes of establishing an HSA. Federal income tax forms 2011 Prescription drug plans. Federal income tax forms 2011   You can have a prescription drug plan, either as part of your HDHP or a separate plan (or rider), and qualify as an eligible individual if the plan does not provide benefits until the minimum annual deductible of the HDHP has been met. Federal income tax forms 2011 If you can receive benefits before that deductible is met, you are not an eligible individual. Federal income tax forms 2011 Other employee health plans. Federal income tax forms 2011   An employee covered by an HDHP and a health FSA or an HRA that pays or reimburses qualified medical expenses generally cannot make contributions to an HSA. Federal income tax forms 2011 Health FSAs and HRAs are discussed later. Federal income tax forms 2011   However, an employee can make contributions to an HSA while covered under an HDHP and one or more of the following arrangements. Federal income tax forms 2011 Limited-purpose health FSA or HRA. Federal income tax forms 2011 These arrangements can pay or reimburse the items listed earlier under Other health coverage except long-term care. Federal income tax forms 2011 Also, these arrangements can pay or reimburse preventive care expenses because they can be paid without having to satisfy the deductible. Federal income tax forms 2011 Suspended HRA. Federal income tax forms 2011 Before the beginning of an HRA coverage period, you can elect to suspend the HRA. Federal income tax forms 2011 The HRA does not pay or reimburse, at any time, the medical expenses incurred during the suspension period except preventive care and items listed under Other health coverage. Federal income tax forms 2011 When the suspension period ends, you are no longer eligible to make contributions to an HSA. Federal income tax forms 2011 Post-deductible health FSA or HRA. Federal income tax forms 2011 These arrangements do not pay or reimburse any medical expenses incurred before the minimum annual deductible amount is met. Federal income tax forms 2011 The deductible for these arrangements does not have to be the same as the deductible for the HDHP, but benefits may not be provided before the minimum annual deductible amount is met. Federal income tax forms 2011 Retirement HRA. Federal income tax forms 2011 This arrangement pays or reimburses only those medical expenses incurred after retirement. Federal income tax forms 2011 After retirement you are no longer eligible to make contributions to an HSA. Federal income tax forms 2011 Health FSA – grace period. Federal income tax forms 2011   Coverage during a grace period by a general purpose health FSA is allowed if the balance in the health FSA at the end of its prior year plan is zero. Federal income tax forms 2011 See Flexible Spending Arrangements (FSAs) , later. Federal income tax forms 2011 Contributions to an HSA Any eligible individual can contribute to an HSA. Federal income tax forms 2011 For an employee's HSA, the employee, the employee's employer, or both may contribute to the employee's HSA in the same year. Federal income tax forms 2011 For an HSA established by a self-employed (or unemployed) individual, the individual can contribute. Federal income tax forms 2011 Family members or any other person may also make contributions on behalf of an eligible individual. Federal income tax forms 2011 Contributions to an HSA must be made in cash. Federal income tax forms 2011 Contributions of stock or property are not allowed. Federal income tax forms 2011 Limit on Contributions The amount you or any other person can contribute to your HSA depends on the type of HDHP coverage you have, your age, the date you become an eligible individual, and the date you cease to be an eligible individual. Federal income tax forms 2011 For 2013, if you have self-only HDHP coverage, you can contribute up to $3,250. Federal income tax forms 2011 If you have family HDHP coverage, you can contribute up to $6,450. Federal income tax forms 2011 For 2014, if you have self-only HDHP coverage, you can contribute up to $3,300. Federal income tax forms 2011 If you have family HDHP coverage you can contribute up to $6,550. Federal income tax forms 2011 If you were, or were considered (under the last-month rule, discussed later), an eligible individual for the entire year and did not change your type of coverage, you can contribute the full amount based on your type of coverage. Federal income tax forms 2011 However, if you were not an eligible individual for the entire year or changed your coverage during the year, your contribution limit is the greater of: The limitation shown on the Line 3 Limitation Chart and Worksheetin the Instructions for Form 8889, Health Savings Accounts (HSAs), or The maximum annual HSA contribution based on your HDHP coverage (self-only or family) on the first day of the last month of your tax year. Federal income tax forms 2011 If you had family HDHP coverage on the first day of the last month of your tax year, your contribution limit for 2013 is $6,450 even if you changed coverage during the year. Federal income tax forms 2011 Last-month rule. Federal income tax forms 2011   Under the last-month rule, if you are an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers), you are considered an eligible individual for the entire year. Federal income tax forms 2011 You are treated as having the same HDHP coverage for the entire year as you had on the first day of the last month. Federal income tax forms 2011 Testing period. Federal income tax forms 2011   If contributions were made to your HSA based on you being an eligible individual for the entire year under the last-month rule, you must remain an eligible individual during the testing period. Federal income tax forms 2011 For the last-month rule, the testing period begins with the last month of your tax year and ends on the last day of the 12th month following that month. Federal income tax forms 2011 For example, December 1, 2013, through December 31, 2014. Federal income tax forms 2011   If you fail to remain an eligible individual during the testing period, other than because of death or becoming disabled, you will have to include in income the total contributions made to your HSA that would not have been made except for the last-month rule. Federal income tax forms 2011 You include this amount in your income in the year in which you fail to be an eligible individual. Federal income tax forms 2011 This amount is also subject to a 10% additional tax. Federal income tax forms 2011 The income and additional tax are shown on Form 8889, Part III. Federal income tax forms 2011 Example 1. Federal income tax forms 2011 Chris, age 53, becomes an eligible individual on December 1, 2013. Federal income tax forms 2011 He has family HDHP coverage on that date. Federal income tax forms 2011 Under the last-month rule, he contributes $6,450 to his HSA. Federal income tax forms 2011 Chris fails to be an eligible individual in June 2014. Federal income tax forms 2011 Because Chris did not remain an eligible individual during the testing period (December 1, 2013, through December 31, 2014), he must include in his 2014 income the contributions made in 2013 that would not have been made except for the last-month rule. Federal income tax forms 2011 Chris uses the worksheet in the Form 8889 instructions to determine this amount. Federal income tax forms 2011 January -0- February -0- March -0- April -0- May -0- June -0- July -0- August -0- September -0- October -0- November -0- December $6,450. Federal income tax forms 2011 00 Total for all months $6,450. Federal income tax forms 2011 00 Limitation. Federal income tax forms 2011 Divide the total by 12 $537. Federal income tax forms 2011 50 Chris would include $5,912. Federal income tax forms 2011 50 ($6,450. Federal income tax forms 2011 00 – $537. Federal income tax forms 2011 50) in his gross income on his 2014 tax return. Federal income tax forms 2011 Also, a 10% additional tax applies to this amount. Federal income tax forms 2011 Example 2. Federal income tax forms 2011 Erika, age 39, has self-only HDHP coverage on January 1, 2013. Federal income tax forms 2011 Erika changes to family HDHP coverage on November 1, 2013. Federal income tax forms 2011 Because Erika has family HDHP coverage on December 1, 2013, she contributes $6,450 for 2013. Federal income tax forms 2011 Erika fails to be an eligible individual in March 2014. Federal income tax forms 2011 Because she did not remain an eligible individual during the testing period (December 1, 2013, through December 31, 2014), she must include in income the contribution made that would not have been made except for the last-month rule. Federal income tax forms 2011 Erika uses the worksheet in the Form 8889 instructions to determine this amount. Federal income tax forms 2011 January $3,250. Federal income tax forms 2011 00 February $3,250. Federal income tax forms 2011 00 March $3,250. Federal income tax forms 2011 00 April $3,250. Federal income tax forms 2011 00 May $3,250. Federal income tax forms 2011 00 June $3,250. Federal income tax forms 2011 00 July $3,250. Federal income tax forms 2011 00 August $3,250. Federal income tax forms 2011 00 September $3,250. Federal income tax forms 2011 00 October $3,250. Federal income tax forms 2011 00 November $6,450. Federal income tax forms 2011 00 December $6,450. Federal income tax forms 2011 00 Total for all months $45,400. Federal income tax forms 2011 00 Limitation. Federal income tax forms 2011 Divide the total by 12 $3,783. Federal income tax forms 2011 34 Erika would include $2,666. Federal income tax forms 2011 67 ($6,450 – $3,783. Federal income tax forms 2011 34) in her gross income on her 2014 tax return. Federal income tax forms 2011 Also, a 10% additional tax applies to this amount. Federal income tax forms 2011 Additional contribution. Federal income tax forms 2011   If you are an eligible individual who is age 55 or older at the end of your tax year, your contribution limit is increased by $1,000. Federal income tax forms 2011 For example, if you have self-only coverage, you can contribute up to $4,250 (the contribution limit for self-only coverage ($3,250) plus the additional contribution of $1,000). Federal income tax forms 2011 However, see Enrolled in Medicare , later. Federal income tax forms 2011 If you have more than one HSA in 2013, your total contributions to all the HSAs cannot be more than the limits discussed earlier. Federal income tax forms 2011 Reduction of contribution limit. Federal income tax forms 2011   You must reduce the amount that can be contributed (including any additional contribution) to your HSA by the amount of any contribution made to your Archer MSA (including employer contributions) for the year. Federal income tax forms 2011 A special rule applies to married people, discussed next, if each spouse has family coverage under an HDHP. Federal income tax forms 2011 Rules for married people. Federal income tax forms 2011   If either spouse has family HDHP coverage, both spouses are treated as having family HDHP coverage. Federal income tax forms 2011 If each spouse has family coverage under a separate plan, the contribution limit for 2013 is $6,450. Federal income tax forms 2011 You must reduce the limit on contributions, before taking into account any additional contributions, by the amount contributed to both spouses' Archer MSAs. Federal income tax forms 2011 After that reduction, the contribution limit is split equally between the spouses unless you agree on a different division. Federal income tax forms 2011 The rules for married people apply only if both spouses are eligible individuals. Federal income tax forms 2011 If both spouses are 55 or older and not enrolled in Medicare, each spouse's contribution limit is increased by the additional contribution. Federal income tax forms 2011 If both spouses meet the age requirement, the total contributions under family coverage cannot be more than $8,450. Federal income tax forms 2011 Each spouse must make the additional contribution to his or her own HSA. Federal income tax forms 2011 Example. Federal income tax forms 2011 For 2013, Mr. Federal income tax forms 2011 Auburn and his wife are both eligible individuals. Federal income tax forms 2011 They each have family coverage under separate HDHPs. Federal income tax forms 2011 Mr. Federal income tax forms 2011 Auburn is 58 years old and Mrs. Federal income tax forms 2011 Auburn is 53. Federal income tax forms 2011 Mr. Federal income tax forms 2011 and Mrs. Federal income tax forms 2011 Auburn can split the family contribution limit ($6,450) equally or they can agree on a different division. Federal income tax forms 2011 If they split it equally, Mr. Federal income tax forms 2011 Auburn can contribute $4,225 to an HSA (one-half the maximum contribution for family coverage ($3,225) + $1,000 additional contribution) and Mrs. Federal income tax forms 2011 Auburn can contribute $3,225 to an HSA. Federal income tax forms 2011 Employer contributions. Federal income tax forms 2011   You must reduce the amount you, or any other person, can contribute to your HSA by the amount of any contributions made by your employer that are excludable from your income. Federal income tax forms 2011 This includes amounts contributed to your account by your employer through a cafeteria plan. Federal income tax forms 2011 Enrolled in Medicare. Federal income tax forms 2011   Beginning with the first month you are enrolled in Medicare, your contribution limit is zero. Federal income tax forms 2011 Example. Federal income tax forms 2011 You turned age 65 in July 2013 and enrolled in Medicare. Federal income tax forms 2011 You had an HDHP with self-only coverage and are eligible for an additional contribution of $1,000. Federal income tax forms 2011 Your contribution limit is $2,125 ($4,250 × 6 ÷ 12). Federal income tax forms 2011 Qualified HSA funding distribution. Federal income tax forms 2011   A qualified HSA funding distribution may be made from your traditional IRA or Roth IRA to your HSA. Federal income tax forms 2011 This distribution cannot be made from an ongoing SEP IRA or SIMPLE IRA. Federal income tax forms 2011 For this purpose, a SEP IRA or SIMPLE IRA is ongoing if an employer contribution is made for the plan year ending with or within your tax year in which the distribution would be made. Federal income tax forms 2011   The maximum qualified HSA funding distribution depends on the HDHP coverage (self-only or family) you have on the first day of the month in which the contribution is made and your age as of the end of the tax year. Federal income tax forms 2011 The distribution must be made directly by the trustee of the IRA to the trustee of the HSA. Federal income tax forms 2011 The distribution is not included in your income, is not deductible, and reduces the amount that can be contributed to your HSA. Federal income tax forms 2011 The qualified HSA funding distribution is shown on Form 8889 for the year in which the distribution is made. Federal income tax forms 2011   You can make only one qualified HSA funding distribution during your lifetime. Federal income tax forms 2011 However, if you make a distribution during a month when you have self-only HDHP coverage, you can make another qualified HSA funding distribution in a later month in that tax year if you change to family HDHP coverage. Federal income tax forms 2011 The total qualified HSA funding distribution cannot be more than the contribution limit for family HDHP coverage plus any additional contribution to which you are entitled. Federal income tax forms 2011 Example. Federal income tax forms 2011 In 2013, you are an eligible individual, age 57, with self-only HDHP coverage. Federal income tax forms 2011 You can make a qualified HSA funding distribution of $4,250 ($3,250 plus $1,000 additional contribution). Federal income tax forms 2011 Funding distribution – testing period. Federal income tax forms 2011   You must remain an eligible individual during the testing period. Federal income tax forms 2011 For a qualified HSA funding distribution, the testing period begins with the month in which the qualified HSA funding distribution is contributed and ends on the last day of the 12th month following that month. Federal income tax forms 2011 For example, if a qualified HSA funding distribution is contributed to your HSA on August 10, 2013, your testing period begins in August 2013, and ends on August 31, 2014. Federal income tax forms 2011   If you fail to remain an eligible individual during the testing period, other than because of death or becoming disabled, you will have to include in income the qualified HSA funding distribution. Federal income tax forms 2011 You include this amount in income in the year in which you fail to be an eligible individual. Federal income tax forms 2011 This amount is also subject to a 10% additional tax. Federal income tax forms 2011 The income and the additional tax are shown on Form 8889, Part III. Federal income tax forms 2011   Each qualified HSA funding distribution allowed has its own testing period. Federal income tax forms 2011 For example, you are an eligible individual, age 45, with self-only HDHP coverage. Federal income tax forms 2011 On June 18, 2013, you make a qualified HSA funding distribution of $3,250. Federal income tax forms 2011 On July 27, 2013, you enroll in family HDHP coverage and on August 17, 2013, you make a qualified HSA funding distribution of $3,200. Federal income tax forms 2011 Your testing period for the first distribution begins in June 2013 and ends on June 30, 2014. Federal income tax forms 2011 Your testing period for the second distribution begins in August 2013 and ends on August 31, 2014. Federal income tax forms 2011   The testing period rule that applies under the last-month rule (discussed earlier) does not apply to amounts contributed to an HSA through a qualified HSA funding distribution. Federal income tax forms 2011 If you remain an eligible individual during the entire funding distribution testing period, then no amount of that distribution is included in income and will not be subject to the additional tax for failing to meet the last-month rule testing period. Federal income tax forms 2011 Rollovers A rollover contribution is not included in your income, is not deductible, and does not reduce your contribution limit. Federal income tax forms 2011 Archer MSAs and other HSAs. Federal income tax forms 2011   You can roll over amounts from Archer MSAs and other HSAs into an HSA. Federal income tax forms 2011 You do not have to be an eligible individual to make a rollover contribution from your existing HSA to a new HSA. Federal income tax forms 2011 Rollover contributions do not need to be in cash. Federal income tax forms 2011 Rollovers are not subject to the annual contribution limits. Federal income tax forms 2011   You must roll over the amount within 60 days after the date of receipt. Federal income tax forms 2011 You can make only one rollover contribution to an HSA during a 1-year period. Federal income tax forms 2011 Note. Federal income tax forms 2011 If you instruct the trustee of your HSA to transfer funds directly to the trustee of another of your HSAs, the transfer is not considered a rollover. Federal income tax forms 2011 There is no limit on the number of these transfers. Federal income tax forms 2011 Do not include the amount transferred in income, deduct it as a contribution, or include it as a distribution on Form 8889. Federal income tax forms 2011 When To Contribute You can make contributions to your HSA for 2013 until April 15, 2014. Federal income tax forms 2011 If you fail to be an eligible individual during 2013, you can still make contributions, up until April 15, 2014, for the months you were an eligible individual. Federal income tax forms 2011 Your employer can make contributions to your HSA between January 1, 2014, and April 15, 2014, that are allocated to 2013. Federal income tax forms 2011 Your employer must notify you and the trustee of your HSA that the contribution is for 2013. Federal income tax forms 2011 The contribution will be reported on your 2014 Form W-2. Federal income tax forms 2011 Reporting Contributions on Your Return Contributions made by your employer are not included in your income. Federal income tax forms 2011 Contributions to an employee's account by an employer using the amount of an employee's salary reduction through a cafeteria plan are treated as employer contributions. Federal income tax forms 2011 Generally, you can claim contributions you made and contributions made by any other person, other than your employer, on your behalf, as an adjustment to income. Federal income tax forms 2011 Contributions by a partnership to a bona fide partner's HSA are not contributions by an employer. Federal income tax forms 2011 The contributions are treated as a distribution of money and are not included in the partner's gross income. Federal income tax forms 2011 Contributions by a partnership to a partner's HSA for services rendered are treated as guaranteed payments that are deductible by the partnership and includible in the partner's gross income. Federal income tax forms 2011 In both situations, the partner can deduct the contribution made to the partner's HSA. Federal income tax forms 2011 Contributions by an S corporation to a 2% shareholder-employee's HSA for services rendered are treated as guaranteed payments and are deductible by the S corporation and includible in the shareholder-employee's gross income. Federal income tax forms 2011 The shareholder-employee can deduct the contribution made to the shareholder-employee's HSA. Federal income tax forms 2011 Form 8889. Federal income tax forms 2011   Report all contributions to your HSA on Form 8889 and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 You should include all contributions made for 2013, including those made by April 15, 2014, that are designated for 2013. Federal income tax forms 2011 Contributions made by your employer and qualified HSA funding distributions are also shown on the form. Federal income tax forms 2011   You should receive Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information, from the trustee showing the amount contributed to your HSA during the year. Federal income tax forms 2011 Your employer's contributions also will be shown in box 12 of Form W-2, Wage and Tax Statement, with code W. Federal income tax forms 2011 Follow the instructions for Form 8889. Federal income tax forms 2011 Report your HSA deduction on Form 1040 or Form 1040NR. Federal income tax forms 2011 Excess contributions. Federal income tax forms 2011   You will have excess contributions if the contributions to your HSA for the year are greater than the limits discussed earlier. Federal income tax forms 2011 Excess contributions are not deductible. Federal income tax forms 2011 Excess contributions made by your employer are included in your gross income. Federal income tax forms 2011 If the excess contribution is not included in box 1 of Form W-2, you must report the excess as “Other income” on your tax return. Federal income tax forms 2011   Generally, you must pay a 6% excise tax on excess contributions. Federal income tax forms 2011 See Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, to figure the excise tax. Federal income tax forms 2011 The excise tax applies to each tax year the excess contribution remains in the account. Federal income tax forms 2011   You may withdraw some or all of the excess contributions and not pay the excise tax on the amount withdrawn if you meet the following conditions. Federal income tax forms 2011 You withdraw the excess contributions by the due date, including extensions, of your tax return for the year the contributions were made. Federal income tax forms 2011 You withdraw any income earned on the withdrawn contributions and include the earnings in “Other income” on your tax return for the year you withdraw the contributions and earnings. Federal income tax forms 2011 If you fail to remain an eligible individual during any of the testing periods, discussed earlier, the amount you have to include in income is not an excess contribution. Federal income tax forms 2011 If you withdraw any of those amounts, the amount is treated the same as any other distribution from an HSA, discussed later. Federal income tax forms 2011 Deducting an excess contribution in a later year. Federal income tax forms 2011   You may be able to deduct excess contributions for previous years that are still in your HSA. Federal income tax forms 2011 The excess contribution you can deduct for the current year is the lesser of the following two amounts. Federal income tax forms 2011 Your maximum HSA contribution limit for the year minus any amounts contributed to your HSA for the year. Federal income tax forms 2011 The total excess contributions in your HSA at the beginning of the year. Federal income tax forms 2011   Amounts contributed for the year include contributions by you, your employer, and any other person. Federal income tax forms 2011 They also include any qualified HSA funding distribution made to your HSA. Federal income tax forms 2011 Any excess contribution remaining at the end of a tax year is subject to the excise tax. Federal income tax forms 2011 See Form 5329. Federal income tax forms 2011 Distributions From an HSA You will generally pay medical expenses during the year without being reimbursed by your HDHP until you reach the annual deductible for the plan. Federal income tax forms 2011 When you pay medical expenses during the year that are not reimbursed by your HDHP, you can ask the trustee of your HSA to send you a distribution from your HSA. Federal income tax forms 2011 You can receive tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you incur after you establish the HSA. Federal income tax forms 2011 If you receive distributions for other reasons, the amount you withdraw will be subject to income tax and may be subject to an additional 20% tax. Federal income tax forms 2011 You do not have to make distributions from your HSA each year. Federal income tax forms 2011 If you are no longer an eligible individual, you can still receive tax-free distributions to pay or reimburse your qualified medical expenses. Federal income tax forms 2011 Generally, a distribution is money you get from your health savings account. Federal income tax forms 2011 Your total distributions include amounts paid with a debit card that restricts payments to health care and amounts withdrawn from the HSA by other individuals that you have designated. Federal income tax forms 2011 The trustee will report any distribution to you and the IRS on Form 1099-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA. Federal income tax forms 2011 Qualified medical expenses. Federal income tax forms 2011   Qualified medical expenses are those expenses that would generally qualify for the medical and dental expenses deduction. Federal income tax forms 2011 These are explained in Publication 502, Medical and Dental Expenses. Federal income tax forms 2011   Also, non-prescription medicines (other than insulin) are not considered qualified medical expenses for HSA purposes. Federal income tax forms 2011 A medicine or drug will be a qualified medical expense for HSA purposes only if the medicine or drug: Requires a prescription, Is available without a prescription (an over-the-counter medicine or drug) and you get a prescription for it, or Is insulin. Federal income tax forms 2011   For HSA purposes, expenses incurred before you establish your HSA are not qualified medical expenses. Federal income tax forms 2011 State law determines when an HSA is established. Federal income tax forms 2011 An HSA that is funded by amounts rolled over from an Archer MSA or another HSA is established on the date the prior account was established. Federal income tax forms 2011   If, under the last-month rule, you are considered to be an eligible individual for the entire year for determining the contribution amount, only those expenses incurred after you actually establish your HSA are qualified medical expenses. Federal income tax forms 2011   Qualified medical expenses are those incurred by the following persons. Federal income tax forms 2011 You and your spouse. Federal income tax forms 2011 All dependents you claim on your tax return. Federal income tax forms 2011 Any person you could have claimed as a dependent on your return except that: The person filed a joint return, The person had gross income of $3,900 or more, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Federal income tax forms 2011    For this purpose, a child of parents that are divorced, separated, or living apart for the last 6 months of the calendar year is treated as the dependent of both parents whether or not the custodial parent releases the claim to the child's exemption. Federal income tax forms 2011 You cannot deduct qualified medical expenses as an itemized deduction on Schedule A (Form 1040) that are equal to the tax-free distribution from your HSA. Federal income tax forms 2011 Insurance premiums. Federal income tax forms 2011   You cannot treat insurance premiums as qualified medical expenses unless the premiums are for: Long-term care insurance. Federal income tax forms 2011 Health care continuation coverage (such as coverage under COBRA). Federal income tax forms 2011 Health care coverage while receiving unemployment compensation under federal or state law. Federal income tax forms 2011 Medicare and other health care coverage if you were 65 or older (other than premiums for a Medicare supplemental policy, such as Medigap). Federal income tax forms 2011   The premiums for long-term care insurance (item (1)) that you can treat as qualified medical expenses are subject to limits based on age and are adjusted annually. Federal income tax forms 2011 See Limit on long-term care premiums you can deduct in the instructions for Schedule A (Form 1040). Federal income tax forms 2011   Items (2) and (3) can be for your spouse or a dependent meeting the requirement for that type of coverage. Federal income tax forms 2011 For item (4), if you, the account beneficiary, are not 65 or older, Medicare premiums for coverage of your spouse or a dependent (who is 65 or older) generally are not qualified medical expenses. Federal income tax forms 2011 Health coverage tax credit. Federal income tax forms 2011   You cannot claim this credit for premiums that you pay with a tax-free distribution from your HSA. Federal income tax forms 2011 See Publication 502 for more information on this credit. Federal income tax forms 2011 Deemed distributions from HSAs. Federal income tax forms 2011   The following situations result in deemed taxable distributions from your HSA. Federal income tax forms 2011 You engaged in any transaction prohibited by section 4975 with respect to any of your HSAs, at any time in 2013. Federal income tax forms 2011 Your account ceases to be an HSA as of January 1, 2013, and you must include the fair market value of all assets in the account as of January 1, 2013, on Form 8889. Federal income tax forms 2011 You used any portion of any of your HSAs as security for a loan at any time in 2013. Federal income tax forms 2011 You must include the fair market value of the assets used as security for the loan as income on Form 1040 or Form 1040NR. Federal income tax forms 2011   Examples of prohibited transactions include the direct or indirect: Sale, exchange, or leasing of property between you and the HSA, Lending of money between you and the HSA, Furnishing goods, services, or facilities between you and the HSA, and Transfer to or use by you, or for your benefit, of any assets of the HSA. Federal income tax forms 2011   Any deemed distribution will not be treated as used to pay qualified medical expenses. Federal income tax forms 2011 These distributions are included in your income and are subject to the additional 20% tax, discussed later. Federal income tax forms 2011 Recordkeeping. Federal income tax forms 2011 You must keep records sufficient to show that: The distributions were exclusively to pay or reimburse qualified medical expenses, The qualified medical expenses had not been previously paid or reimbursed from another source, and The medical expenses had not been taken as an itemized deduction in any year. Federal income tax forms 2011 Do not send these records with your tax return. Federal income tax forms 2011 Keep them with your tax records. Federal income tax forms 2011 Reporting Distributions on Your Return How you report your distributions depends on whether or not you use the distribution for qualified medical expenses (defined earlier). Federal income tax forms 2011 If you use a distribution from your HSA for qualified medical expenses, you do not pay tax on the distribution but you have to report the distribution on Form 8889. Federal income tax forms 2011 However, the distribution of an excess contribution taken out after the due date, including extensions, of your return is subject to tax even if used for qualified medical expenses. Federal income tax forms 2011 Follow the instructions for the form and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 If you do not use a distribution from your HSA for qualified medical expenses, you must pay tax on the distribution. Federal income tax forms 2011 Report the amount on Form 8889 and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 You may have to pay an additional 20% tax on your taxable distribution. Federal income tax forms 2011 HSA administration and maintenance fees withdrawn by the trustee are not reported as distributions from the HSA. Federal income tax forms 2011 Additional tax. Federal income tax forms 2011   There is an additional 20% tax on the part of your distributions not used for qualified medical expenses. Federal income tax forms 2011 Figure the tax on Form 8889 and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 Exceptions. Federal income tax forms 2011   There is no additional tax on distributions made after the date you are disabled, reach age 65, or die. Federal income tax forms 2011 Balance in an HSA An HSA is generally exempt from tax. Federal income tax forms 2011 You are permitted to take a distribution from your HSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Federal income tax forms 2011 Amounts that remain at the end of the year are generally carried over to the next year (see Excess contributions , earlier). Federal income tax forms 2011 Earnings on amounts in an HSA are not included in your income while held in the HSA. Federal income tax forms 2011 Death of HSA Holder You should choose a beneficiary when you set up your HSA. Federal income tax forms 2011 What happens to that HSA when you die depends on whom you designate as the beneficiary. Federal income tax forms 2011 Spouse is the designated beneficiary. Federal income tax forms 2011   If your spouse is the designated beneficiary of your HSA, it will be treated as your spouse's HSA after your death. Federal income tax forms 2011 Spouse is not the designated beneficiary. Federal income tax forms 2011   If your spouse is not the designated beneficiary of your HSA: The account stops being an HSA, and The fair market value of the HSA becomes taxable to the beneficiary in the year in which you die. Federal income tax forms 2011 If your estate is the beneficiary, the value is included on your final income tax return. Federal income tax forms 2011 The amount taxable to a beneficiary other than the estate is reduced by any qualified medical expenses for the decedent that are paid by the beneficiary within 1 year after the date of death. Federal income tax forms 2011 Filing Form 8889 You must file Form 8889 with your Form 1040 or Form 1040NR if you (or your spouse, if married filing a joint return) had any activity in your HSA during the year. Federal income tax forms 2011 You must file the form even if only your employer or your spouse's employer made contributions to the HSA. Federal income tax forms 2011 If, during the tax year, you are the beneficiary of two or more HSAs or you are a beneficiary of an HSA and you have your own HSA, you must complete a separate Form 8889 for each HSA. Federal income tax forms 2011 Enter “statement” at the top of each Form 8889 and complete the form as instructed. Federal income tax forms 2011 Next, complete a controlling Form 8889 combining the amounts shown on each of the statement Forms 8889. Federal income tax forms 2011 Attach the statements to your tax return after the controlling Form 8889. Federal income tax forms 2011 Employer Participation This section contains the rules that employers must follow if they decide to make HSAs available to their employees. Federal income tax forms 2011 Unlike the previous discussions, “you” refers to the employer and not to the employee. Federal income tax forms 2011 Health plan. Federal income tax forms 2011   If you want your employees to be able to have an HSA, they must have an HDHP. Federal income tax forms 2011 You can provide no additional coverage other than those exceptions listed previously under Other health coverage . Federal income tax forms 2011 Contributions. Federal income tax forms 2011   You can make contributions to your employees' HSAs. Federal income tax forms 2011 You deduct the contributions on your business income tax return for the year in which you make the contributions. Federal income tax forms 2011 If the contribution is allocated to the prior year, you still deduct it in the year in which you made the contribution. Federal income tax forms 2011   For more information on employer contributions, see Notice 2008-59, 2008-29 I. Federal income tax forms 2011 R. Federal income tax forms 2011 B. Federal income tax forms 2011 123, questions 23 through 27, available at www. Federal income tax forms 2011 irs. Federal income tax forms 2011 gov/irb/2008-29_IRB/ar11. Federal income tax forms 2011 html. Federal income tax forms 2011 Comparable contributions. Federal income tax forms 2011   If you decide to make contributions, you must make comparable contributions to all comparable participating employees' HSAs. Federal income tax forms 2011 Your contributions are comparable if they are either: The same amount, or The same percentage of the annual deductible limit under the HDHP covering the employees. Federal income tax forms 2011 The comparability rules do not apply to contributions made through a cafeteria plan. Federal income tax forms 2011 Comparable participating employees. Federal income tax forms 2011   Comparable participating employees: Are covered by your HDHP and are eligible to establish an HSA, Have the same category of coverage (either self-only or family coverage), and Have the same category of employment (part-time, full-time, or former employees). Federal income tax forms 2011   To meet the comparability requirements for eligible employees who have not established an HSA by December 31 or have not notified you that they have an HSA, you must meet a notice requirement and a contribution requirement. Federal income tax forms 2011   You will meet the notice requirement if by January 15 of the following calendar year you provide a written notice to all such employees. Federal income tax forms 2011 The notice must state that each eligible employee who, by the last day of February, establishes an HSA and notifies you that they have established an HSA will receive a comparable contribution to the HSA for the prior year. Federal income tax forms 2011 For a sample of the notice, see Regulation 54. Federal income tax forms 2011 4980G-4 A-14(c). Federal income tax forms 2011 You will meet the contribution requirement for these employees if by April 15, 2014, you contribute comparable amounts plus reasonable interest to the employee's HSA for the prior year. Federal income tax forms 2011 Note. Federal income tax forms 2011 For purposes of making contributions to HSAs of non-highly compensated employees, highly compensated employees shall not be treated as comparable participating employees. Federal income tax forms 2011 Excise tax. Federal income tax forms 2011   If you made contributions to your employees' HSAs that were not comparable, you must pay an excise tax of 35% of the amount you contributed. Federal income tax forms 2011 Employment taxes. Federal income tax forms 2011   Amounts you contribute to your employees' HSAs are generally not subject to employment taxes. Federal income tax forms 2011 You must report the contributions in box 12 of the Form W-2 you file for each employee. Federal income tax forms 2011 This includes the amounts the employee elected to contribute through a cafeteria plan. Federal income tax forms 2011 Enter code “W” in box 12. Federal income tax forms 2011 Medical Savings Accounts (MSAs) Archer MSAs were created to help self-employed individuals and employees of certain small employers meet the medical care costs of the account holder, the account holder's spouse, or the account holder's dependent(s). Federal income tax forms 2011 After December 31, 2007, you cannot be treated as an eligible individual for Archer MSA purposes unless: You were an active participant for any tax year ending before January 1, 2008, or You became an active participant for a tax year ending after December 31, 2007, by reason of coverage under a high deductible health plan (HDHP) of an Archer MSA participating employer. Federal income tax forms 2011 A Medicare Advantage MSA is an Archer MSA designated by Medicare to be used solely to pay the qualified medical expenses of the account holder who is eligible for Medicare. Federal income tax forms 2011 Archer MSAs An Archer MSA is a tax-exempt trust or custodial account that you set up with a U. Federal income tax forms 2011 S. Federal income tax forms 2011 financial institution (such as a bank or an insurance company) in which you can save money exclusively for future medical expenses. Federal income tax forms 2011 What are the benefits of an Archer MSA?   You may enjoy several benefits from having an Archer MSA. Federal income tax forms 2011 You can claim a tax deduction for contributions you make even if you do not itemize your deductions on Form 1040 or Form 1040NR. Federal income tax forms 2011 The interest or other earnings on the assets in your Archer MSA are tax free. Federal income tax forms 2011 Distributions may be tax free if you pay qualified medical expenses. Federal income tax forms 2011 See Qualified medical expenses , later. Federal income tax forms 2011 The contributions remain in your Archer MSA from year to year until you use them. Federal income tax forms 2011 An Archer MSA is “portable” so it stays with you if you change employers or leave the work force. Federal income tax forms 2011 Qualifying for an Archer MSA To qualify for an Archer MSA, you must be either of the following. Federal income tax forms 2011 An employee (or the spouse of an employee) of a small employer (defined later) that maintains a self-only or family HDHP for you (or your spouse). Federal income tax forms 2011 A self-employed person (or the spouse of a self-employed person) who maintains a self-only or family HDHP. Federal income tax forms 2011 You can have no other health or Medicare coverage except what is permitted under Other health coverage , later. Federal income tax forms 2011 You must be an eligible individual on the first day of a given month to get an Archer MSA deduction for that month. Federal income tax forms 2011 If another taxpayer is entitled to claim an exemption for you, you cannot claim a deduction for an Archer MSA contribution. Federal income tax forms 2011 This is true even if the other person does not actually claim your exemption. Federal income tax forms 2011 Small employer. Federal income tax forms 2011   A small employer is generally an employer who had an average of 50 or fewer employees during either of the last 2 calendar years. Federal income tax forms 2011 The definition of small employer is modified for new employers and growing employers. Federal income tax forms 2011 Growing employer. Federal income tax forms 2011   A small employer may begin HDHPs and Archer MSAs for his or her employees and then grow beyond 50 employees. Federal income tax forms 2011 The employer will continue to meet the requirement for small employers if he or she: Had 50 or fewer employees when the Archer MSAs began, Made a contribution that was excludable or deductible as an Archer MSA for the last year he or she had 50 or fewer employees, and Had an average of 200 or fewer employees each year after 1996. Federal income tax forms 2011 Changing employers. Federal income tax forms 2011   If you change employers, your Archer MSA moves with you. Federal income tax forms 2011 However, you may not make additional contributions unless you are otherwise eligible. Federal income tax forms 2011 High deductible health plan (HDHP). Federal income tax forms 2011   To be eligible for an Archer MSA, you must be covered under an HDHP. Federal income tax forms 2011 An HDHP has: A higher annual deductible than typical health plans, and A maximum limit on the annual out-of-pocket medical expenses that you must pay for covered expenses. Federal income tax forms 2011 Limits. Federal income tax forms 2011   The following table shows the limits for annual deductibles and the maximum out-of-pocket expenses for HDHPs for 2013. Federal income tax forms 2011   Self-only coverage Family coverage Minimum annual deductible $2,150 $4,300 Maximum annual deductible $3,200 $6,450 Maximum annual out-of-pocket expenses $4,300 $7,850 Family plans that do not meet the high deductible rules. Federal income tax forms 2011   There are some family plans that have deductibles for both the family as a whole and for individual family members. Federal income tax forms 2011 Under these plans, if you meet the individual deductible for one family member, you do not have to meet the higher annual deductible amount for the family. Federal income tax forms 2011 If either the deductible for the family as a whole or the deductible for an individual family member is less than the minimum annual deductible for family coverage, the plan does not qualify as an HDHP. Federal income tax forms 2011 Example. Federal income tax forms 2011 You have family health insurance coverage in 2013. Federal income tax forms 2011 The annual deductible for the family plan is $5,500. Federal income tax forms 2011 This plan also has an individual deductible of $2,000 for each family member. Federal income tax forms 2011 The plan does not qualify as an HDHP because the deductible for an individual family member is less than the minimum annual deductible ($4,300) for family coverage. Federal income tax forms 2011 Other health coverage. Federal income tax forms 2011   You (and your spouse, if you have family coverage) generally cannot have any other health coverage that is not an HDHP. Federal income tax forms 2011 However, you can still be an eligible individual even if your spouse has non-HDHP coverage provided you are not covered by that plan. Federal income tax forms 2011 However, you can have additional insurance that provides benefits only for the following items. Federal income tax forms 2011 Liabilities incurred under workers' compensation laws, torts, or ownership or use of property. Federal income tax forms 2011 A specific disease or illness. Federal income tax forms 2011 A fixed amount per day (or other period) of hospitalization. Federal income tax forms 2011 You can also have coverage (whether provided through insurance or otherwise) for the following items. Federal income tax forms 2011 Accidents. Federal income tax forms 2011 Disability. Federal income tax forms 2011 Dental care. Federal income tax forms 2011 Vision care. Federal income tax forms 2011 Long-term care. Federal income tax forms 2011 Contributions to an MSA Contributions to an Archer MSA must be made in cash. Federal income tax forms 2011 You cannot contribute stock or other property to an Archer MSA. Federal income tax forms 2011 Who can contribute to my Archer MSA?   If you are an employee, your employer may make contributions to your Archer MSA. Federal income tax forms 2011 (You do not pay tax on these contributions. Federal income tax forms 2011 ) If your employer does not make contributions to your Archer MSA, or you are self-employed, you can make your own contributions to your Archer MSA. Federal income tax forms 2011 Both you and your employer cannot make contributions to your Archer MSA in the same year. Federal income tax forms 2011 You do not have to make contributions to your Archer MSA every year. Federal income tax forms 2011    If your spouse is covered by your HDHP and an excludable amount is contributed by your spouse's employer to an Archer MSA belonging to your spouse, you cannot make contributions to your own Archer MSA that year. Federal income tax forms 2011 Limits There are two limits on the amount you or your employer can contribute to your Archer MSA: The annual deductible limit. Federal income tax forms 2011 An income limit. Federal income tax forms 2011 Annual deductible limit. Federal income tax forms 2011   You (or your employer) can contribute up to 75% of the annual deductible of your HDHP (65% if you have a self-only plan) to your Archer MSA. Federal income tax forms 2011 You must have the HDHP all year to contribute the full amount. Federal income tax forms 2011 If you do not qualify to contribute the full amount for the year, determine your annual deductible limit by using the worksheet in the Instructions for Form 8853, Archer MSAs and Long-Term Care Insurance Contracts. Federal income tax forms 2011 Example 1. Federal income tax forms 2011 You have an HDHP for your family all year in 2013. Federal income tax forms 2011 The annual deductible is $5,000. Federal income tax forms 2011 You can contribute up to $3,750 ($5,000 × 75%) to your Archer MSA for the year. Federal income tax forms 2011 Example 2. Federal income tax forms 2011 You have an HDHP for your family for the entire months of July through December 2013 (6 months). Federal income tax forms 2011 The annual deductible is $5,000. Federal income tax forms 2011 You can contribute up to $1,875 ($5,000 × 75% ÷ 12 × 6) to your Archer MSA for the year. Federal income tax forms 2011 If you and your spouse each have a family plan, you are treated as having family coverage with the lower annual deductible of the two health plans. Federal income tax forms 2011 The contribution limit is split equally between you unless you agree on a different division. Federal income tax forms 2011 Income limit. Federal income tax forms 2011   You cannot contribute more than you earned for the year from the employer through whom you have your HDHP. Federal income tax forms 2011   If you are self-employed, you cannot contribute more than your net self-employment income. Federal income tax forms 2011 This is your income from self-employment minus expenses (including the deductible part of self-employment tax). Federal income tax forms 2011 Example 1. Federal income tax forms 2011 Noah Paul earned $25,000 from ABC Company in 2013. Federal income tax forms 2011 Through ABC, he had an HDHP for his family for the entire year. Federal income tax forms 2011 The annual deductible was $5,000. Federal income tax forms 2011 He can contribute up to $3,750 to his Archer MSA (75% × $5,000). Federal income tax forms 2011 He can contribute the full amount because he earned more than $3,750 at ABC. Federal income tax forms 2011 Example 2. Federal income tax forms 2011 Westley Lawrence is self-employed. Federal income tax forms 2011 He had an HDHP for his family for the entire year in 2013. Federal income tax forms 2011 The annual deductible was $5,000. Federal income tax forms 2011 Based on the annual deductible, the maximum contribution to his Archer MSA would have been $3,750 (75% × $5,000). Federal income tax forms 2011 However, after deducting his business expenses, Joe's net self-employment income is $2,500 for the year. Federal income tax forms 2011 Therefore, he is limited to a contribution of $2,500. Federal income tax forms 2011 Individuals enrolled in Medicare. Federal income tax forms 2011   Beginning with the first month you are enrolled in Medicare, you cannot contribute to an Archer MSA. Federal income tax forms 2011 However, you may be eligible for a Medicare Advantage MSA, discussed later. Federal income tax forms 2011 When To Contribute You can make contributions to your Archer MSA for 2013 until April 15, 2014. Federal income tax forms 2011 Reporting Contributions on Your Return Report all contributions to your Archer MSA on Form 8853 and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 You should include all contributions you, or your employer, made for 2013, including those made by April 15, 2014, that are designated for 2013. Federal income tax forms 2011 You should receive Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information, from the trustee showing the amount you (or your employer) contributed during the year. Federal income tax forms 2011 Your employer's contributions should be shown in box 12 of Form W-2, Wage and Tax Statement, with code R. Federal income tax forms 2011 Follow the instructions for Form 8853 and complete the worksheet in the instructions. Federal income tax forms 2011 Report your Archer MSA deduction on Form 1040 or Form 1040NR. Federal income tax forms 2011 Excess contributions. Federal income tax forms 2011   You will have excess contributions if the contributions to your Archer MSA for the year are greater than the limits discussed earlier. Federal income tax forms 2011 Excess contributions are not deductible. Federal income tax forms 2011 Excess contributions made by your employer are included in your gross income. Federal income tax forms 2011 If the excess contribution is not included in box 1 of Form W-2, you must report the excess as “Other income” on your tax return. Federal income tax forms 2011   Generally, you must pay a 6% excise tax on excess contributions. Federal income tax forms 2011 See Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, to figure the excise tax. Federal income tax forms 2011 The excise tax applies to each tax year the excess contribution remains in the account. Federal income tax forms 2011   You may withdraw some or all of the excess contributions and not pay the excise tax on the amount withdrawn if you meet the following conditions. Federal income tax forms 2011 You withdraw the excess contributions by the due date, including extensions, of your tax return. Federal income tax forms 2011 You withdraw any income earned on the withdrawn contributions and include the earnings in “Other income” on your tax return for the year you withdraw the contributions and earnings. Federal income tax forms 2011 Deducting an excess contribution in a later year. Federal income tax forms 2011   You may be able to deduct excess contributions for previous years that are still in your Archer MSA. Federal income tax forms 2011 The excess contribution you can deduct in the current year is the lesser of the following two amounts. Federal income tax forms 2011 Your maximum Archer MSA contribution limit for the year minus any amounts contributed to your Archer MSA for the year. Federal income tax forms 2011 The total excess contributions in your Archer MSA at the beginning of the year. Federal income tax forms 2011   Any excess contributions remaining at the end of a tax year are subject to the excise tax. Federal income tax forms 2011 See Form 5329. Federal income tax forms 2011 Distributions From an MSA You will generally pay medical expenses during the year without being reimbursed by your HDHP until you reach the annual deductible for the plan. Federal income tax forms 2011 When you pay medical expenses during the year that are not reimbursed by your HDHP, you can ask the trustee of your Archer MSA to send you a distribution from your Archer MSA. Federal income tax forms 2011 You can receive tax-free distributions from your Archer MSA to pay for qualified medical expenses (discussed later). Federal income tax forms 2011 If you receive distributions for other reasons, the amount will be subject to income tax and may be subject to an additional 20% tax as well. Federal income tax forms 2011 You do not have to make withdrawals from your Archer MSA each year. Federal income tax forms 2011 If you no longer qualify to make contributions, you can still receive tax-free distributions to pay or reimburse your qualified medical expenses. Federal income tax forms 2011 A distribution is money you get from your Archer MSA. Federal income tax forms 2011 The trustee will report any distribution to you and the IRS on Form 1099-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA. Federal income tax forms 2011 Qualified medical expenses. Federal income tax forms 2011   Qualified medical expenses are those expenses that would generally qualify for the medical and dental expenses deduction. Federal income tax forms 2011 These are explained in Publication 502. Federal income tax forms 2011   Also, non-prescription medicines (other than insulin) are not considered qualified medical expenses for MSA purposes. Federal income tax forms 2011 A medicine or drug will be a qualified medical expense for MSA purposes only if the medicine or drug: Requires a prescription, Is available without a prescription (an over-the-counter medicine or drug) and you get a prescription for it, or Is insulin. Federal income tax forms 2011   Qualified medical expenses are those incurred by the following persons. Federal income tax forms 2011 You and your spouse. Federal income tax forms 2011 All dependents you claim on your tax return. Federal income tax forms 2011 Any person you could have claimed as a dependent on your return except that: The person filed a joint return, The person had gross income of $3,900 or more, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Federal income tax forms 2011    For this purpose, a child of parents that are divorced, separated, or living apart for the last 6 months of the calendar year is treated as the dependent of both parents whether or not the custodial parent releases the claim to the child's exemption. Federal income tax forms 2011    You cannot deduct qualified medical expenses as an itemized deduction on Schedule A (Form 1040) that are equal to the tax-free distribution from your Archer MSA. Federal income tax forms 2011 Special rules for insurance premiums. Federal income tax forms 2011   Generally, you cannot treat insurance premiums as qualified medical expenses for Archer MSAs. Federal income tax forms 2011 You can, however, treat premiums for long-term care coverage, health care coverage while you receive unemployment benefits, or health care continuation coverage required under any federal law as qualified medical expenses for Archer MSAs. Federal income tax forms 2011 Health coverage tax credit. Federal income tax forms 2011   You cannot claim this credit for premiums that you pay with a tax-free distribution from your Archer MSA. Federal income tax forms 2011 See Publication 502 for information on this credit. Federal income tax forms 2011 Deemed distributions from Archer MSAs. Federal income tax forms 2011   The following situations result in deemed taxable distributions from your Archer MSA. Federal income tax forms 2011 You engaged in any transaction prohibited by section 4975 with respect to any of your Archer MSAs at any time in 2013. Federal income tax forms 2011 Your account ceases to be an Archer MSA as of January 1, 2013, and you must include the fair market value of all assets in the account as of January 1, 2013, on Form 8853. Federal income tax forms 2011 You used any portion of any of your Archer MSAs as security for a loan at any time in 2013. Federal income tax forms 2011 You must include the fair market value of the assets used as security for the loan as income on Form 1040 or Form 1040NR. Federal income tax forms 2011   Examples of prohibited transactions include the direct or indirect: Sale, exchange, or leasing of property between you and the Archer MSA, Lending of money between you and the Archer MSA, Furnishing goods, services, or facilities between you and the Archer MSA, and Transfer to or use by you, or for your benefit, of any assets of the Archer MSA. Federal income tax forms 2011   Any deemed distribution will not be treated as used to pay qualified medical expenses. Federal income tax forms 2011 These distributions are included in your income and are subject to the additional 20% tax, discussed later. Federal income tax forms 2011 Recordkeeping. Federal income tax forms 2011 You must keep records sufficient to show that: The distributions were exclusively to pay or reimburse qualified medical expenses, The qualified medical expenses had not been previously paid or reimbursed from another source, and The medical expenses had not been taken as an itemized deduction in any year. Federal income tax forms 2011 Do not send these records with your tax return. Federal income tax forms 2011 Keep them with your tax records. Federal income tax forms 2011 Reporting Distributions on Your Return How you report your distributions depends on whether or not you use the distribution for qualified medical expenses (defined earlier). Federal income tax forms 2011 If you use a distribution from your Archer MSA for qualified medical expenses, you do not pay tax on the distribution but you have to report the distribution on Form 8853. Federal income tax forms 2011 Follow the instructions for the form and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 If you do not use a distribution from your Archer MSA for qualified medical expenses, you must pay tax on the distribution. Federal income tax forms 2011 Report the amount on Form 8853 and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 You may have to pay an additional 20% tax, discussed later, on your taxable distribution. Federal income tax forms 2011 If an amount (other than a rollover) is contributed to your Archer MSA this year (by you or your employer), you also must report and pay tax on a distribution you receive from your Archer MSA this year that is used to pay medical expenses of someone who is not covered by an HDHP, or is also covered by another health plan that is not an HDHP, at the time the expenses are incurred. Federal income tax forms 2011 Rollovers. Federal income tax forms 2011   Generally, any distribution from an Archer MSA that you roll over into another Archer MSA or an HSA is not taxable if you complete the rollover within 60 days. Federal income tax forms 2011 An Archer MSA and an HSA can only receive one rollover contribution during a 1-year period. Federal income tax forms 2011 See the Form 8853 instructions for more information. Federal income tax forms 2011 Additional tax. Federal income tax forms 2011   There is a 20% additional tax on the part of your distributions not used for qualified medical expenses. Federal income tax forms 2011 Figure the tax on Form 8853 and file it with your Form 1040 or Form 1040NR. Federal income tax forms 2011 Report the additional tax in the total on Form 1040 or Form 1040NR. Federal income tax forms 2011 Exceptions. Federal income tax forms 2011   There is no additional tax on distributions made after the date you are disabled, reach age 65, or die. Federal income tax forms 2011 Balance in an Archer MSA An Archer MSA is generally exempt from tax. Federal income tax forms 2011 You are permitted to take a distribution from your Archer MSA at any time; however, only those amounts used exclusively to pay for qualified medical expenses are tax free. Federal income tax forms 2011 Amounts that remain at the end of the year are generally carried over to the next year (see Excess contributions , earlier). Federal income tax forms 2011 Earnings on amounts in an Archer MSA are not included in your income while held in the Archer MSA. Federal income tax forms 2011 Death of the Archer MSA Holder You should choose a beneficiary when you set up your Archer MSA. Federal income tax forms 2011 What happens to that Archer MSA when you die depends on whom you designate as the beneficiary. Federal income tax forms 2011 Spouse is the designated beneficiary. Federal income tax forms 2011   If your spouse is the designated beneficiary of your Archer MSA, it will be treated as your spouse's Archer MSA after your death. Federal income tax forms 2011 Spouse is not the designated beneficiary. Federal income tax forms 2011   If your spouse is not the designated beneficiary of your Archer MSA: The account stops being an Archer MSA, and The fair market value of the Archer MSA becomes taxable to the beneficiary in the year in which you die. Federal income tax forms 2011   If your estate is the beneficiary, the fair market value of the Archer MSA will be included on your final income tax return. Federal income tax forms 2011 The amount taxable to a beneficiary other than the estate is reduced by any qualified medical expenses for the decedent that are paid by the beneficiary within 1 year after the date of death. Federal income tax forms 2011 Filing Form 8853 You must file Form 8853 with your Form 1040 or Form 1040NR if you (or your spouse, if married filing a joint return) had any activity in your Archer MSA during the year. Federal income tax forms 2011 You must file the form even if only your employer or your spouse's employer made contributions to the Archer MSA. Federal income tax forms 2011 If, during the tax year, you are the beneficiary of two or more Archer MSAs or you are a beneficiary of an Archer MSA and you have your own Archer MSA, you must complete a separate Form 8853 for each MSA. Federal income tax forms 2011 Enter “statement” at the top of each Form 8853 and complete the form as instructed. Federal income tax forms 2011 Next, complete a controlling Form 8853 combining the amounts shown on each of the statement Forms 8853. Federal income tax forms 2011 Attach the statements to your tax return after the controlling Form 8853. Federal income tax forms 2011 Employer Participation This section contains the rules that employers must follow if they decide to make Archer MSAs available to their employees. Federal income tax forms 2011 Unlike the previous discussions, “you” refers to the employer and not to the employee. Federal income tax forms 2011 Health plan. Federal income tax forms 2011   If you want your employees to be able to have an Archer MSA, you must make an HDHP available to them. Federal income tax forms 2011 You can provide no additional coverage other than those exceptions listed previously under Other health coverage . Federal income tax forms 2011 Contributions. Federal income tax forms 2011   You can make contributions to your employees' Archer MSAs. Federal income tax forms 2011 You deduct the contributions on the “Employee benefit programs” line of your business income tax return for the year in which you make the contributions. Federal income tax forms 2011 If you are filing Form 1040, Schedule C, this is Part II, line 14. Federal income tax forms 2011 Comparable contributions. Federal income tax forms 2011   If you decide to make contributions, you must make comparable contributions to all comparable participating employees' Archer MSAs. Federal income tax forms 2011 Your contributions are comparable if they are either: The same amount, or The same percentage of the annual deductible limit under the HDHP covering the employees. Federal income tax forms 2011 Comparable participating employees. Federal income tax forms 2011   Comparable participating employees: Are covered by your HDHP and are eligible to establish an Archer MSA, Have the same category of coverage (either self-only or family coverage), and Have the same category of employment (either part-time or full-time). Federal income tax forms 2011 Excise tax. Federal income tax forms 2011   If you made contributions to your employees' Archer MSAs that were not comparable, you must pay an excise tax of 35% of the amount you contributed. Federal income tax forms 2011 Employment taxes. Federal income tax forms 2011   Amounts you contribute to your employees' Archer MSAs are generally not subject to employment taxes. Federal income tax forms 2011 You must report the contributions in box 12 of the Form W-2 you file for each employee. Federal income tax forms 2011 Enter code “R” in box 12. Federal income tax forms 2011 Medicare Advantage MSAs A Medicare Advantage MSA is an Archer MSA designated by Medicare to be used solely to pay the qualified medical expenses of the account holder. Federal income tax forms 2011 To be eligible for a Medicare Advantage MSA, you must be enrolled in Medicare and have a high deductible health plan (HDHP) that meets the Medicare guidelines. Federal income tax forms 2011 A Medicare Advantage MSA is a tax-exempt trust or custodial savings account that you set up with a financial institution (such as a bank or an insurance company) in which the Medicare program can deposit money for qualified medical expenses. Federal income tax forms 2011 The money in your account is not taxed if it is used for qualified medical expenses, and it may earn interest or dividends. Federal income tax forms 2011 An HDHP is a special health insurance policy that has a high deductible. Federal income tax forms 2011 You choose the policy you want to use as part of your Medicare Advantage MSA plan. Federal income tax forms 2011 However, the policy must be approved by the Medicare program. Federal income tax forms 2011 Medicare Advantage MSAs are administered through the federal Medicare program. Federal income tax forms 2011 You can get information by calling 1-800-Medicare (1-800-633-4227) or through the Internet at www. Federal income tax forms 2011 medicare. Federal income tax forms 2011 gov. Federal income tax forms 2011 Note. Federal income tax forms 2011 You must file Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, with your tax return if you have a Medicare Advantage MSA. Federal income tax forms 2011 Flexible Spending Arrangements (FSAs) A health flexible spending arrangement (FSA) allows employees to be reimbursed for medical expenses. Federal income tax forms 2011 FSAs are usually funded through voluntary salary reduction agreements with your employer. Federal income tax forms 2011 No employment or federal income taxes are deducted from your contribution. Federal income tax forms 2011 The employer may also contribute. Federal income tax forms 2011 Note. Federal income tax forms 2011 Unlike HSAs or Archer MSAs which must be reported on Form 1040 or Form 1040NR, there are no reporting requirements for FSAs on your income tax return. Federal income tax forms 2011 For information on the interaction between a health FSA and an HSA, see Other employee health plans under Qualifying for an HSA, earlier. Federal income tax forms 2011 What are the benefits of an FSA?   You may enjoy several benefits from having an FSA. Federal income tax forms 2011 Contributions made by your employer can be excluded from your gross income. Federal income tax forms 2011 No employment or federal income taxes are deducted from the contributions. Federal income tax forms 2011 Withdrawals may be tax free if you pay qualified medical expenses. Federal income tax forms 2011 See Qualified medical expenses , later. Federal income tax forms 2011 You can withdraw funds from the account to pay qualified medical expenses even if you have not yet placed the funds in the account. Federal income tax forms 2011 Qualifying for an FSA Health FSAs are employer-established benefit plans. Federal income tax forms 2011 These may be offered in conjunction with other employer-provided benefits as part of a cafeteria plan. Federal income tax forms 2011 Employers have complete flexibility to offer various combinations of benefits in designing their plan. Federal income tax forms 2011 You do not have to be covered under any other health care plan to participate. Federal income tax forms 2011 Self-employed persons are not eligible for an FSA. Federal income tax forms 2011 Certain limitations may apply if you are a highly compensated participant or a key employee. Federal income tax forms 2011 Contributions to an FSA You contribute to your FSA by electing an amount to be voluntarily withheld from your pay by your employer. Federal income tax forms 2011 This is sometimes called a salary reduction agreement. Federal income tax forms 2011 The employer may also contribute to your FSA if specified in the plan. Federal income tax forms 2011 You do not pay federal income tax or employment taxes on the salary you contribute or the amounts your employer contributes to the FSA. Federal income tax forms 2011 However, contributions made by your employer to provide coverage for long-term care insurance must be included in income. Federal income tax forms 2011 When To Contribute At the
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National Runaway Switchboard (NRS)

The mission of the National Runaway Switchboard (NRS) is to help keep America? runaway and at-risk youth safe and off the streets. The organization serves as the federally designated national communication system for runaway and homeless youth.

Contact the Agency or Department

Website: National Runaway Switchboard (NRS)

E-mail:

Address: 3080 N. Lincoln Ave.
Chicago, IL 60657

Phone Number: 773-880-9860

Toll-free: 1-800-786-2929 (24 hrs./7 days a week)

The Federal Income Tax Forms 2011

Federal income tax forms 2011 31. Federal income tax forms 2011   Impuesto sobre Ingresos No Derivados del Trabajo de Determinados Hijos Table of Contents ¿Que Hay de Nuevo? Introduction Useful Items - You may want to see: Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la MadrePadres que no Presentan la Declaración Conjunta Elección de los Padres de Declarar los Intereses y Dividendos del HijoConsecuencias de Incluir los Ingresos del Hijo Cómo Calcular los Ingresos del Hijo Cómo Calcular el Impuesto Adicional Impuesto para Determinados Hijos con Ingresos No Derivados del TrabajoCómo Facilitar Información sobre los Padres (líneas A-C del Formulario 8615) Paso 1. Federal income tax forms 2011 Cómo Calcular los Ingresos Netos No Derivados del Trabajo del Hijo (Parte I del Formulario 8615) Paso 2. Federal income tax forms 2011 Cómo Calcular el Impuesto Provisional a la Tasa Impositiva de los Padres (Parte II del Formulario 8615) Paso 3. Federal income tax forms 2011 Cómo Calcular el Impuesto del Hijo (Parte III del Formulario 8615) ¿Que Hay de Nuevo? Impuesto sobre el ingreso neto de inversiones. Federal income tax forms 2011  Para años empezando después del 31 de diciembre de 2012, el impuesto de un hijo, el cual se calcula en el Formulario 8615, puede estar sujeto al impuesto sobre el ingreso neto de inversiones (NIIT, por sus siglas en inglés). Federal income tax forms 2011 El NIIT es un impuesto de 3. Federal income tax forms 2011 8% sobre la cantidad menor entre el ingreso neto de inversión o el exceso del ingreso bruto ajustado modificado (MAGI) del hijo que exceda del límite superior específico. Federal income tax forms 2011 Utilice el Formulario 8960, Net Investment Income Tax (Impuesto sobre ingreso neto de inversiones), en inglés, para calcular este impuesto. Federal income tax forms 2011 Para más información sobre el NIIT, visite www. Federal income tax forms 2011 irs. Federal income tax forms 2011 gov e ingrese “Net Investment Income Tax” en la casilla de búsqueda “Search” (Buscar), en inglés. Federal income tax forms 2011 Introduction Este capítulo explica los dos requisitos siguientes, los cuales podrían afectar el impuesto sobre ingresos no derivados del trabajo de determinados hijos: Si los ingresos procedentes de intereses y dividendos del hijo (incluidas las distribuciones de ganancias de capital) totalizan menos de $10,000, el padre o la madre tal vez pueda optar por incluir dichos ingresos en la declaración de uno de los padres en vez de presentar una declaración a nombre del hijo. Federal income tax forms 2011 Vea Elección de los Padres de Declarar Intereses y Dividendos del Hijo , más adelante. Federal income tax forms 2011 Si el total de intereses, dividendos y otros ingresos no derivados del trabajo del hijo sobrepasa $2,000, una parte de dichos ingresos podría estar sujeta a la misma tasa de impuesto que la de sus padres en lugar de estar sujeta a la tasa del hijo. Federal income tax forms 2011 (Vea Impuesto para Determinados Hijos con Ingresos No Derivados del Trabajo , más adelante). Federal income tax forms 2011 En lo que concierne a estos requisitos, el término “hijo” abarca a hijos legalmente adoptados e hijastros. Federal income tax forms 2011 Estos requisitos corresponden tanto si el hijo es dependiente como si no lo es. Federal income tax forms 2011 Useful Items - You may want to see: Publicación 929 Tax Rules for Children and Dependents (Requisitos tributarios para hijos y dependientes), en inglés Formulario (e Instrucciones) 8615 Tax for Certain Children Who Have Unearned Income (Impuesto para determinados hijos con ingresos no derivados del trabajo), en inglés 8814 Parents' Election To Report Child's Interest and Dividends (Elección de los padres de declarar los intereses y dividendos del hijo), en inglés Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la Madre Si los padres del hijo están casados el uno con el otro y presentan una declaración conjunta, básese en la declaración conjunta para calcular el impuesto sobre los ingresos no derivados del trabajo de dicho hijo. Federal income tax forms 2011 La tasa impositiva y otra información de dicha declaración se utiliza para calcular el impuesto del hijo según se explica más adelante bajo Impuesto para Determinados Hijos con Ingresos No Derivados del Trabajo . Federal income tax forms 2011 Padres que no Presentan la Declaración Conjunta Para los padres que no presenten la declaración conjunta, los siguientes temas aclaran, cuál declaración de impuestos de los padres tiene que utilizar para calcular el impuesto. Federal income tax forms 2011 Sólo el padre o la madre cuya declaración se utilice puede elegir la opción descrita bajo Elección de los Padres de Declarar Intereses y Dividendos del Hijo . Federal income tax forms 2011 Padres casados. Federal income tax forms 2011   Si los padres del hijo presentan declaraciones por separado, utilice la declaración de quien tenga el mayor ingreso tributable. Federal income tax forms 2011 Padres que no viven juntos. Federal income tax forms 2011   Si los padres del hijo están casados el uno con el otro pero no viven juntos, y el padre o la madre con quien vive el hijo (el padre o la madre con custodia) se considera no casado, utilice la declaración del padre o de la madre con custodia. Federal income tax forms 2011 Si el padre o la madre con custodia no es considerado no casado, utilice la declaración de quien tenga el mayor ingreso tributable. Federal income tax forms 2011   Para una explicación sobre cuándo una persona casada que vive aparte de su cónyuge es considerada no casada, vea Cabeza de Familia en el capítulo 2. Federal income tax forms 2011 Padres divorciados. Federal income tax forms 2011   Si los padres del hijo están divorciados o legalmente separados y el padre o la madre que tuvo la custodia del hijo durante la mayor parte del año (el padre o la madre con custodia) no se ha vuelto a casar, utilice la declaración del padre o de la madre con custodia. Federal income tax forms 2011 Padre o madre con custodia que se ha vuelto a casar. Federal income tax forms 2011   Si el padre o la madre con custodia ha vuelto a casarse, el padrastro o la madrastra (en vez del padre o la madre sin custodia) se considera el otro padre o la otra madre del hijo. Federal income tax forms 2011 Por lo tanto, si el padre o la madre con custodia y el padrastro o la madrastra presentan una declaración conjunta, utilice dicha declaración conjunta. Federal income tax forms 2011 No utilice la declaración del padre o de la madre sin custodia. Federal income tax forms 2011   Si el padre o la madre con custodia está casado con el padrastro o la madrastra pero presentan declaraciones por separado, utilice la declaración de quien tenga el mayor ingreso tributable. Federal income tax forms 2011 Si el padre o la madre con custodia está casado con el padrastro o la madrastra pero no viven juntos, corresponde el tema anterior Padres que no viven juntos . Federal income tax forms 2011 Padres que nunca se han casado. Federal income tax forms 2011   Si los padres del hijo nunca han estado casados el uno con el otro pero vivieron juntos durante todo el año, utilice la declaración de quien tenga el mayor ingreso tributable. Federal income tax forms 2011 Si los padres no vivieron juntos durante todo el año, corresponden los requisitos explicados anteriormente bajo Padres divorciados . Federal income tax forms 2011 Padre viudo o madre viuda que se vuelve a casar. Federal income tax forms 2011   Si un viudo o una viuda vuelve a casarse, el nuevo cónyuge se considera el otro padre o la otra madre del hijo. Federal income tax forms 2011 En este caso, corresponden los requisitos explicados anteriormente bajo Padre o madre con custodia que se ha vuelto a casar . Federal income tax forms 2011 Elección de los Padres de Declarar los Intereses y Dividendos del Hijo Tal vez pueda optar por incluir los ingresos de su hijo procedentes de intereses y dividendos (incluidas las distribuciones de ganancias de capital) en la declaración de impuestos. Federal income tax forms 2011 En tal caso, su hijo no estará obligado a presentar una declaración. Federal income tax forms 2011 Puede elegir esta opción sólo si se cumplen todas las condiciones siguientes: Su hijo tenía menos de 19 años de edad (o tenía menos de 24 años si era estudiante a tiempo completo) al finalizar el año. Federal income tax forms 2011 Su hijo recibió ingresos sólo de intereses y dividendos (incluidas las distribuciones de ganancias de capital y dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska)). Federal income tax forms 2011 Los ingresos brutos del hijo eran menos de $10,000. Federal income tax forms 2011 El hijo está obligado a presentar la declaración a no ser que usted elija incluir estos ingresos. Federal income tax forms 2011 El hijo no presenta una declaración conjunta correspondiente al año actual. Federal income tax forms 2011 No se efectuó ningún pago de impuestos estimados para el año ni se aplicó a este año ningún pago del año anterior (ni de una declaración enmendada) en exceso bajo el nombre y número de Seguro Social de su hijo. Federal income tax forms 2011 No se retuvo de los ingresos de su hijo ningún impuesto federal sobre los ingresos conforme a las reglas de la retención adicional. Federal income tax forms 2011 Usted es el padre o la madre cuya declaración se tiene que utilizar al aplicar los requisitos tributarios especiales para hijos. Federal income tax forms 2011 (Vea Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la Madre , anteriormente). Federal income tax forms 2011 Estas condiciones se hallan también en la Figura 31-A. Federal income tax forms 2011 Determinados cumpleaños el 1 de enero. Federal income tax forms 2011   Un hijo que haya nacido el 1 de enero de 1995 se considerará de 19 años de edad al final del año 2013. Federal income tax forms 2011 Usted no puede optar por declarar los intereses y dividendos de tal hijo a menos que éste fuera estudiante a tiempo completo. Federal income tax forms 2011   Aquel hijo que haya nacido el 1 de enero de 1990 se considerará de 24 años de edad al final del año 2013. Federal income tax forms 2011 Usted no puede optar por declarar los intereses y dividendos de tal hijo. Federal income tax forms 2011 Estudiante a tiempo completo. Federal income tax forms 2011   Un estudiante a tiempo completo es un hijo matriculado como tal durante alguna parte de cada uno de 5 meses del año calendario en una escuela o que asistió a tiempo completo a un curso de capacitación agrícola ofrecido sobre el terreno por una escuela, agencia del estado, condado o gobierno local. Federal income tax forms 2011 El término “escuela” abarca escuelas politécnicas, profesionales e industriales. Federal income tax forms 2011 Una escuela no incluye un curso de capacitación en el trabajo, escuela por correspondencia, ni escuelas que ofrecen cursos sólo por Internet. Federal income tax forms 2011 Cómo optar por incluir los ingresos de su hijo. Federal income tax forms 2011   Elija incluir los ingresos de su hijo adjuntando el Formulario 8814 al Formulario 1040. Federal income tax forms 2011 (Si opta por hacer esto, no puede presentar el Formulario 1040A ni el Formulario 1040EZ). Federal income tax forms 2011 Adjunte un Formulario 8814 distinto correspondiente a cada hijo cuyos ingresos desee incluir. Federal income tax forms 2011 Puede incluir los ingresos de uno o más hijos y no incluir los ingresos de otros. Federal income tax forms 2011 Consecuencias de Incluir los Ingresos del Hijo El impuesto federal sobre los ingresos de su hijo podría ser mayor si opta por usar el Formulario 8814. Federal income tax forms 2011 La tasa impositiva podría ser más alta. Federal income tax forms 2011   Si su hijo recibió dividendos calificados o distribuciones de ganancias de capital, usted podría pagar hasta $100 adicionales de impuestos si incluye los ingresos de su hijo en vez de presentar una declaración de impuestos por separado a nombre del hijo. Federal income tax forms 2011 Esto se debe a que la tasa impositiva que corresponde a los ingresos de su hijo entre $1,000 y $2,000 es de 10% si usted opta por incluirlos. Federal income tax forms 2011 No obstante, si presenta una declaración por separado en nombre del hijo, la tasa impositiva podría bajar hasta 0% (porcentaje de cero) debido a las tasas impositivas preferentes para dividendos calificados y distribuciones de ganancias de capital. Federal income tax forms 2011 Deducciones que no puede tomar. Federal income tax forms 2011   Al hacer la elección de incluir estos ingresos en el Formulario 8814, no puede tomar ninguna de las deducciones siguientes a la que el hijo tendría derecho en su propia declaración. Federal income tax forms 2011 La deducción estándar adicional si el hijo es ciego. Federal income tax forms 2011 La deducción por una multa por el retiro prematuro de los ahorros de su hijo. Federal income tax forms 2011 Deducciones detalladas (como gastos de inversiones de su hijo o donaciones caritativas). Federal income tax forms 2011 Deducciones o créditos reducidos. Federal income tax forms 2011   Si utiliza el Formulario 8814, su ingreso bruto ajustado aumentado podría reducir determinados créditos o deducciones en la declaración, incluyendo lo siguiente: Deducciones por aportaciones a una cuenta de ahorros tradicional para la jubilación (IRA, por sus siglas en inglés). Federal income tax forms 2011 Deducciones por intereses sobre un préstamo de estudios. Federal income tax forms 2011 Deducciones detalladas por gastos médicos, pérdidas por hecho fortuito y robo y ciertos gastos misceláneos. Federal income tax forms 2011 Crédito por gastos del cuidado de hijos y dependientes. Federal income tax forms 2011 Crédito tributario por hijos. Federal income tax forms 2011 Créditos tributarios por estudios. Federal income tax forms 2011 Crédito por ingreso del trabajo. Federal income tax forms 2011 Figura 31-A. Federal income tax forms 2011 ¿Puede Incluir Usted en su Declaración de Impuestos los Ingresos de su Hijo? Please click here for the text description of the image. Federal income tax forms 2011 Figura 31–A. Federal income tax forms 2011 ¿Puede Incluir Usted en su Declaración de Impuestos los Ingresos de su Hijo? Multa por pago insuficiente del impuesto estimado. Federal income tax forms 2011   Si elige incluir estos ingresos para 2013 y no se le retuvo impuesto suficiente o no pagó suficiente impuesto estimado para saldar los impuestos adeudados, podría estar sujeto a una multa. Federal income tax forms 2011 Si piensa elegir lo mismo para 2014, es posible que necesite aumentar la retención de impuestos federales sobre el ingreso o los pagos de impuesto estimado para evitar la multa. Federal income tax forms 2011 Vea el capítulo 4 para más información. Federal income tax forms 2011 Cómo Calcular los Ingresos del Hijo Utilice la Parte I del Formulario 8814 para calcular los ingresos de su hijo procedentes de intereses y dividendos declarados por usted. Federal income tax forms 2011 A sus ingresos sólo se le añade la cantidad que sea superior a $2,000. Federal income tax forms 2011 La cantidad superior a $2,000 se indica en la línea 6 del Formulario 8814. Federal income tax forms 2011 A menos que los ingresos del hijo abarquen dividendos calificados o distribuciones de ganancias de capital (explicadas a continuación), la misma cantidad se indica en la línea 12 del Formulario 8814. Federal income tax forms 2011 Incluya la cantidad de la línea 12 del Formulario 8814 en la línea 21 del Formulario 1040. Federal income tax forms 2011 Anote en inglés “Form 8814” en la línea de puntos al lado de la línea 21. Federal income tax forms 2011 Si presenta más de un Formulario 8814, incluya el total de los montos de la línea 12 de todos los Formularios 8814 en la línea 21 del Formulario 1040. Federal income tax forms 2011 Distribuciones de ganancias de capital y dividendos calificados. Federal income tax forms 2011   Si se incluye alguna distribución de ganancias de capital en los ingresos de dividendos de su hijo, vea Capital gain distributions (Distribuciones de ganancias de capital) bajo Figuring Child's Income (Cómo calcular los ingresos del hijo) en la Parte 2 de la Publicación 929, en inglés. Federal income tax forms 2011 Si se incluye algún dividendo calificado en los ingresos de dividendos de su hijo, vea Qualified dividends (Dividendos calificados) bajo Figuring Child's Income (Cómo calcular los ingresos del hijo) en la Parte 2 de la Publicación 929, en inglés. Federal income tax forms 2011 Cómo Calcular el Impuesto Adicional Utilice la Parte II del Formulario 8814 para calcular el impuesto sobre los $2,000 de los intereses y dividendos de su hijo que no incluya usted en sus ingresos. Federal income tax forms 2011 Este impuesto se suma al impuesto calculado sobre los ingresos suyos. Federal income tax forms 2011 Dicho impuesto adicional es la cantidad que sea menor entre: El 10% (multiplicado por la cantidad de los ingresos brutos de su hijo menos $1,000) o $100. Federal income tax forms 2011 Incluya el monto de la línea 15 de todos los Formularios 8814 en el total de la línea 44 del Formulario 1040. Federal income tax forms 2011 Marque el recuadro a de la línea 44 del Formulario 1040. Federal income tax forms 2011 Figura 31-B. Federal income tax forms 2011 ¿Tiene que Utilizar el Formulario 8615 para Calcular los Impuestos de su Hijo? Please click here for the text description of the image. Federal income tax forms 2011 Figura 31-B. Federal income tax forms 2011 ¿Tiene que Utilizar el Formulario 8615 para Calcular los Impuestos de su Hijo? Impuesto para Determinados Hijos con Ingresos No Derivados del Trabajo Si el total de intereses, dividendos y otros ingresos no derivados del trabajo de un hijo sobrepasa $2,000, una parte de dichos ingresos podría estar sujeta a la misma tasa impositiva que la de sus padres en lugar de estar sujeta a la tasa del hijo. Federal income tax forms 2011 Si el padre o la madre no elige, o no puede elegir, incluir los ingresos del hijo en su declaración, utilice el Formulario 8615 para calcular los impuestos del hijo. Federal income tax forms 2011 Adjunte el formulario completado al Formulario 1040 o al Formulario 1040A del hijo. Federal income tax forms 2011 Cuándo se tiene que presentar el Formulario 8615. Federal income tax forms 2011   El Formulario 8615 tiene que presentarse para un hijo si se dan todas las siguientes condiciones: Los ingresos del hijo no derivados del trabajo eran superiores a $2,000. Federal income tax forms 2011 El hijo está obligado a presentar una declaración para 2013. Federal income tax forms 2011 Dicho hijo: Era menor de 18 años de edad al final del año, Tenía 18 años a finales del año y su ingreso del trabajo no constituía más de la mitad de su manutención o Era estudiante a tiempo completo mayor de 18 años y menor de 24 años al finalizar el año y su ingreso del trabajo no constituía más de la mitad de la manutención suya. Federal income tax forms 2011 Por lo menos uno de los padres del hijo estaba vivo al finalizar el año 2013. Federal income tax forms 2011 El hijo no presenta una declaración conjunta para 2013. Federal income tax forms 2011 Estas condiciones se hallan también en la Figura 31-B. Federal income tax forms 2011 Ingreso del trabajo. Federal income tax forms 2011   El ingreso del trabajo incluye sueldos, salarios, propinas y otras remuneraciones recibidas por servicios personales que usted prestó. Federal income tax forms 2011 No incluye los ingresos no derivados del trabajo según se define más adelante en este capítulo. Federal income tax forms 2011 Manutención. Federal income tax forms 2011   La manutención de su hijo incluye todas las cantidades gastadas para proveerle alimentos, alojamiento, ropa, educación, cuidado médico y dental, recreación, transporte y necesidades similares. Federal income tax forms 2011 Al calcular la manutención de su hijo, incluya aquélla proporcionada por usted, su hijo y otras personas. Federal income tax forms 2011 Sin embargo, no se considera como manutención una beca que su hijo haya recibido si éste es estudiante a tiempo completo. Federal income tax forms 2011 Vea el capítulo 3 para más detalles acerca de la manutención. Federal income tax forms 2011 Determinados cumpleaños el 1 de enero. Federal income tax forms 2011   Utilice la siguiente tabla para saber si determinados hijos con cumpleaños en el 1 de enero cumplen la condición 3 bajo Cuándo se tiene que presentar el Formulario 8615. Federal income tax forms 2011    SI un hijo nació. Federal income tax forms 2011 . Federal income tax forms 2011 . Federal income tax forms 2011 ENTONCES, al finalizar 2013, se considera que el hijo tiene. Federal income tax forms 2011 . Federal income tax forms 2011 . Federal income tax forms 2011 el 1 de enero de 1996 18 años* el 1 de enero de 1995 19 años** el 1 de enero de 1990 24 años*** *Este hijo no es menor de 18 años. Federal income tax forms 2011 El hijo cumple la condición 3 sólo si éste no tuvo ingresos derivados del trabajo superiores a más de la mitad de la manutención suya. Federal income tax forms 2011  **El hijo cumple la condición 3 sólo si éste era estudiante a tiempo completo y no tuvo ingresos derivados del trabajo superiores a más de la mitad de la manutención suya. Federal income tax forms 2011  ***No utilice el Formulario 8615 para este hijo. Federal income tax forms 2011 Cómo Facilitar Información sobre los Padres (líneas A-C del Formulario 8615) En las líneas A y B del Formulario 8615, escriba el nombre y número de Seguro Social de los padres. Federal income tax forms 2011 (Si los padres presentaron una declaración conjunta, escriba el nombre y número de Seguro Social que aparezca primero en la declaración conjunta). Federal income tax forms 2011 En la línea C, marque el recuadro correspondiente al estado civil para efectos de la declaración del padre o de la madre. Federal income tax forms 2011 Vea Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la Madre al principio de este capítulo para información sobre qué información de la declaración de los padres tiene que utilizar para llenar el Formulario 8615. Federal income tax forms 2011 Padre o madre con año tributario distinto. Federal income tax forms 2011   Si el padre o la madre y el hijo no tienen el mismo año tributario, complete el Formulario 8615 utilizando la información de la declaración del padre o de la madre para el año tributario que finalice durante el año tributario del hijo. Federal income tax forms 2011 Si no se obtiene a tiempo la información de la declaración del padre o de la madre. Federal income tax forms 2011   Si la información necesaria de la declaración de los padres no se obtiene para la fecha de vencimiento del plazo de entrega de la declaración del hijo (normalmente el 15 de abril), puede utilizar cálculos aproximados para presentar la declaración. Federal income tax forms 2011   Puede utilizar cualquier cálculo aproximado razonable. Federal income tax forms 2011 Dicho cálculo puede derivarse de información de la declaración del año anterior. Federal income tax forms 2011 Si utiliza un cálculo aproximado en el Formulario 8615, anote en inglés, “Estimated” (Aproximado) en la línea junto a dicha cantidad. Federal income tax forms 2011    Cuando obtenga la información correcta, presente una declaración enmendada utilizando el Formulario 1040X, Amended U. Federal income tax forms 2011 S. Federal income tax forms 2011 Individual Income Tax Return (Declaración enmendada de impuestos sobre el ingreso personal de los Estados Unidos), en inglés. Federal income tax forms 2011   En vez de utilizar cálculos aproximados, quizás pueda conseguir una prórroga automática de 6 meses para presentar la declaración de impuestos si para la fecha de vencimiento del plazo de entrega de la misma, presenta el Formulario 4868(SP), Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos (o el Formulario 4868, en inglés). Federal income tax forms 2011 Las prórrogas se explican en el capítulo 1 . Federal income tax forms 2011 Paso 1. Federal income tax forms 2011 Cómo Calcular los Ingresos Netos No Derivados del Trabajo del Hijo (Parte I del Formulario 8615) Al calcular el impuesto de un hijo utilizando el Formulario 8615, el primer paso es calcular los ingresos netos no derivados del trabajo del hijo. Federal income tax forms 2011 Para hacerlo, utilice la Parte I del Formulario 8615. Federal income tax forms 2011 Línea 1 (ingresos no derivados del trabajo). Federal income tax forms 2011   Si el hijo no recibió ingresos del trabajo, anote en esta línea los ingresos brutos ajustados indicados en la declaración del hijo. Federal income tax forms 2011 Los ingresos brutos ajustados aparecen en la línea 38 del Formulario 1040 o en la línea 22 del Formulario 1040A. Federal income tax forms 2011 No se puede utilizar el Formulario 1040EZ si se tiene que presentar el Formulario 8615. Federal income tax forms 2011   Si el hijo sí recibió ingresos del trabajo, calcule la cantidad a anotar en la línea 1 del Formulario 8615 utilizando la hoja de trabajo de las instrucciones del formulario. Federal income tax forms 2011   No obstante, si el hijo: ha excluido de la declaración algunos ingresos ganados en el extranjero, ha deducido alguna pérdida del trabajo por cuenta propia o ha deducido alguna pérdida neta de operación de otro año, utilice la Alternate Worksheet (Hoja de trabajo alternativa) para la línea 1 del Formulario 8615 que se encuentra en la Publicación 929, en inglés, para calcular la cantidad a anotar en la línea 1 del Formulario 8615. Federal income tax forms 2011 Definición de los ingresos no derivados del trabajo. Federal income tax forms 2011   Los ingresos no derivados del trabajo generalmente son todos los ingresos que no sean sueldos, salarios ni otras cantidades recibidas como pago por trabajo que de hecho se haya realizado. Federal income tax forms 2011 Dichos ingresos abarcan los intereses tributables, dividendos (inclusive las distribuciones de ganancias de capital), ganancias de capital, compensación por desempleo, la parte sujeta a impuestos de pagos del Seguro Social y pensiones y determinadas distribuciones de fideicomisos. Federal income tax forms 2011 Además, los ingresos no derivados del trabajo abarcan cantidades derivadas de bienes que el hijo haya adquirido con ingresos del trabajo (como intereses sobre una cuenta de ahorros en la que el hijo haya depositado sueldos). Federal income tax forms 2011 Ingresos no sujetos a impuestos. Federal income tax forms 2011   Para este fin, los ingresos no derivados del trabajo sólo abarcan cantidades que su hijo tenga que incluir en el total de ingresos. Federal income tax forms 2011 No se incluyen los ingresos no tributables no derivados del trabajo, tales como los intereses exentos de impuestos y la parte no tributable de pagos del Seguro Social y pensiones. Federal income tax forms 2011 Ingresos procedentes de bienes recibidos como regalo. Federal income tax forms 2011   Los ingresos no derivados del trabajo de un hijo abarcan todo ingreso generado por bienes que pertenezcan al hijo. Federal income tax forms 2011 Esto es así aun si se le traspasaron los bienes al hijo, independientemente de cuándo se traspasaron o se compraron dichos bienes ni quién los traspasó. Federal income tax forms 2011   Los ingresos no derivados del trabajo de un hijo incluyen ingresos generados por bienes dados al hijo como regalo. Federal income tax forms 2011 Esto incluye regalos dados al hijo por los abuelos o cualquier otra persona y regalos dados conforme a la Uniform Gift to Minors Act (Ley de Uniformidad Respecto a Regalos a Menores). Federal income tax forms 2011 Ejemplo. Federal income tax forms 2011 Amanda Naranjo, de 13 años de edad, recibió los siguientes ingresos: Dividendos — $800 Salarios — $2,100 Intereses tributables — $1,200 Intereses exentos de impuestos — $100 Ganancias netas de capital — $100 Los dividendos eran dividendos calificados sobre acciones que le habían regalado sus abuelos. Federal income tax forms 2011 Los ingresos no derivados del trabajo de Amanda son $2,100. Federal income tax forms 2011 Éste es el total de dividendos ($800), intereses tributables ($1,200) y ganancias netas de capital ($100). Federal income tax forms 2011 Su salario se considera ingreso del trabajo, y no de ingreso no derivado del trabajo porque se le paga por un trabajo que de hecho se ha realizado. Federal income tax forms 2011 No se incluyen los intereses exentos de impuestos porque éstos no están sujetos a impuestos. Federal income tax forms 2011 Ingresos provenientes de fideicomisos. Federal income tax forms 2011   Si el hijo es beneficiario de un fideicomiso, las distribuciones de intereses, dividendos, ganancias de capital y otros ingresos no derivados del trabajo tributables procedentes de dicho fideicomiso se consideran ingresos no derivados del trabajo del hijo. Federal income tax forms 2011   No obstante, para llenar el Formulario 8615, una distribución tributable de un fideicomiso calificado establecido para casos de incapacidad no se considera ingresos no derivados del trabajo sino ingresos del trabajo. Federal income tax forms 2011 Línea 2 (deducciones). Federal income tax forms 2011   Si el hijo no detalla las deducciones en el Anexo A del Formulario 1040, anote $2,000 en la línea 2. Federal income tax forms 2011   Si el hijo sí detalla las deducciones, anote en la línea 2 la cantidad mayor entre: $1,000 más la parte de las deducciones detalladas del hijo de la línea 29 del Anexo A del Formulario 1040 que esté directamente relacionada con la generación de ingresos no derivados del trabajo anotados en la línea 1 o $2,000. Federal income tax forms 2011 Relación directa entre las deducciones y la generación de ingresos no derivados del trabajo. Federal income tax forms 2011   Se considera que las deducciones detalladas están directamente relacionadas con la generación de ingresos no derivados del trabajo si las mismas corresponden a gastos pagados para generar o cobrar ingresos sujetos a impuestos o para administrar, conservar o mantener bienes cuyo fin es generar ingresos. Federal income tax forms 2011 Esos gastos abarcan cargos por custodia y servicios, cargos por servicios de cobro de intereses y dividendos tributables y determinados cargos por asesoramiento sobre inversiones. Federal income tax forms 2011   Estos gastos se suman a otras deducciones detalladas misceláneas en el Anexo A (Formulario 1040). Federal income tax forms 2011 Sólo se puede deducir la cantidad que sea superior al 2% de los ingresos brutos ajustados del hijo. Federal income tax forms 2011 Vea el capítulo 28 para más información. Federal income tax forms 2011 Ejemplo 1. Federal income tax forms 2011 Roberto, de 12 años de edad, tiene ingresos no derivados del trabajo de $8,000, sin otros ingresos ni ajustes a los ingresos. Federal income tax forms 2011 Tiene deducciones detalladas de $300 (netas del límite del 2%) que están directamente relacionadas con sus ingresos no derivados del trabajo. Federal income tax forms 2011 Tiene ingresos brutos ajustados de $8,000 que se anotan en la línea 38 del Formulario 1040 y en la línea 1 del Formulario 8615. Federal income tax forms 2011 En la línea 2 se anotan $2,000 porque dicha cantidad supera la suma de $1,000 más las deducciones detalladas de $300 directamente relacionadas con la generación de ingresos de inversiones. Federal income tax forms 2011 Ejemplo 2. Federal income tax forms 2011 Elena, de 8 años de edad, tiene ingresos no derivados del trabajo de $16,000 y tiene una multa de $100 por retiro prematuro. Federal income tax forms 2011 No tiene otros ingresos. Federal income tax forms 2011 Tiene deducciones detalladas de $1,050 (netas del límite del 2%) que están directamente relacionadas con la generación de sus ingresos no derivados del trabajo. Federal income tax forms 2011 Sus ingresos brutos ajustados, anotados en la línea 1, son $15,900 ($16,000 − $100). Federal income tax forms 2011 La cantidad de la línea 2 es $2,050. Federal income tax forms 2011 Ésta es la cantidad mayor de: $1,000 más los $1,050 de deducciones detalladas directamente relacionadas con la generación de ingresos de inversiones o $2,000. Federal income tax forms 2011 Línea 3. Federal income tax forms 2011   De la línea 1 reste la línea 2 y anote el resultado en esta línea. Federal income tax forms 2011 Si es cero o menos, no llene el resto del formulario. Federal income tax forms 2011 No obstante, tiene que adjuntar el Formulario 8615 a la declaración del hijo. Federal income tax forms 2011 Calcule el impuesto sobre los ingresos tributables del hijo de manera normal. Federal income tax forms 2011 Línea 4 (ingresos tributables del hijo). Federal income tax forms 2011   Anote en la línea 4 los ingresos tributables del hijo provenientes de la línea 43 del Formulario 1040 o de la línea 27 del Formulario 1040A. Federal income tax forms 2011   Sin embargo, si el hijo presenta el Formulario 2555 o el Formulario 2555-EZ para declarar la exclusión de ingresos ganados en el extranjero, la exclusión por concepto de vivienda o la deducción por concepto de vivienda, vea las Instrucciones del Formulario 8615 o la Publicación 929, ambas en inglés. Federal income tax forms 2011 Línea 5 (ingresos netos no derivados del trabajo). Federal income tax forms 2011   Los ingresos netos no derivados del trabajo del hijo no pueden sobrepasar sus ingresos tributables. Federal income tax forms 2011 Anote en la línea 5 del Formulario 8615 la cantidad de la línea 3 o la línea 4, la que sea menor. Federal income tax forms 2011 Esta cantidad corresponde a los ingresos netos no derivados del trabajo del hijo. Federal income tax forms 2011   Si es cero o menos, no llene el resto del formulario. Federal income tax forms 2011 No obstante, tiene que adjuntar el Formulario 8615 a la declaración del hijo. Federal income tax forms 2011 Calcule el impuesto sobre los ingresos tributables del hijo de manera normal. Federal income tax forms 2011 Paso 2. Federal income tax forms 2011 Cómo Calcular el Impuesto Provisional a la Tasa Impositiva de los Padres (Parte II del Formulario 8615) El siguiente paso al llenar el Formulario 8615 es calcular un impuesto provisional sobre los ingresos netos no derivados del trabajo del hijo utilizando la tasa impositiva del padre o de la madre. Federal income tax forms 2011 El impuesto provisional a la tasa impositiva del padre o de la madre es la diferencia entre el impuesto sobre los ingresos tributables del padre o de la madre calculados con los ingresos netos no derivados del trabajo del hijo (más los ingresos netos no derivados del trabajo de cualquier otro hijo cuyo Formulario 8615 incluya la información de la declaración de impuestos del padre o de la madre) y el impuesto calculado sin dichos ingresos. Federal income tax forms 2011 Al calcular el impuesto provisional a la tasa impositiva del padre o de la madre en el Formulario 8615, no vuelva a calcular las exclusiones, deducciones ni créditos en la declaración del padre o de la madre debido a los ingresos netos no derivados del trabajo del hijo. Federal income tax forms 2011 Por ejemplo, no vuelva a calcular la deducción por gastos médicos. Federal income tax forms 2011 Calcule el impuesto provisional en las líneas 6 a 13 del Formulario 8615. Federal income tax forms 2011 Nota: Si el hijo o el padre o la madre tiene pérdidas o ganancias de capital, obtenga la Publicación 929, en inglés, para información que le será de ayuda al completar la Parte II del Formulario 8615. Federal income tax forms 2011 Línea 6 (ingresos tributables del padre o de la madre). Federal income tax forms 2011   Anote en la línea 6 los ingresos tributables del padre o de la madre provenientes de la línea 43 del Formulario 1040, de la línea 27 del Formulario 1040A o la línea 6 del Formulario 1040EZ. Federal income tax forms 2011   Si utilizó la Foreign Earned Income Tax Worksheet (Hoja de trabajo para el impuesto sobre los ingresos del trabajo en el extranjero) de las instrucciones del Formulario 1040 para calcular el impuesto correspondiente al padre o a la madre, anote la cantidad de la línea 3 de dicha hoja de trabajo en vez de los ingresos tributables del padre o de la madre. Federal income tax forms 2011 Línea 7 (ingresos netos no derivados del trabajo de otros hijos). Federal income tax forms 2011   Si la información de la declaración del padre o de la madre se utiliza también en el Formulario 8615 de otro hijo, anote en la línea 7 el total de las cantidades de la línea 5 de los Formularios 8615 de todos los demás hijos. Federal income tax forms 2011 No incluya la cantidad de la línea 5 del Formulario 8615 que esté llenando. Federal income tax forms 2011 Ejemplo. Federal income tax forms 2011 Pablo y Juana del Pozo tienen tres hijos, Sandra, Geraldo y Miguel, quienes tienen que adjuntar el Formulario 8615 a sus declaraciones de impuestos respectivas. Federal income tax forms 2011 Los ingresos netos no derivados del trabajo de los hijos en la línea 5 de sus Formularios 8615 son: Sandra — $800 Geraldo — $600 Miguel — $1,000 La línea 7 del Formulario 8615 de Sandra indicará $1,600, o sea, el total de las cantidades anotadas en la línea 5 de los Formularios 8615 de Geraldo y Miguel. Federal income tax forms 2011 La línea 7 del Formulario 8615 de Geraldo indicará $1,800 ($800 + $1,000). Federal income tax forms 2011 La línea 7 del Formulario 8615 de Miguel indicará $1,400 ($800 + $600). Federal income tax forms 2011 Si no está disponible la información de los otros hijos. Federal income tax forms 2011   Si no está disponible la cantidad de los ingresos netos no derivados del trabajo de los otros hijos antes de que venza el plazo para presentar la declaración, preséntela anotando cálculos aproximados o solicite una prórroga del plazo para presentarla. Federal income tax forms 2011 Vea Si no se obtiene a tiempo la información de la declaración del padre o de la madre , anteriormente. Federal income tax forms 2011 Línea 11 (impuesto provisional). Federal income tax forms 2011   Reste la línea 10 de la línea 9 y anote el resultado en esta línea. Federal income tax forms 2011 Éste es el impuesto provisional. Federal income tax forms 2011   Si la línea 7 está en blanco, ignore las líneas 12a y 12b y anote en la línea 13 la cantidad proveniente de la línea 11. Federal income tax forms 2011 Ignore asimismo el tema siguiente que trata de las líneas 12a y 12b. Federal income tax forms 2011 Líneas 12a y 12b (dividiendo el impuesto provisional). Federal income tax forms 2011   Si anota alguna cantidad en la línea 7 (fuera de cero), divida el impuesto provisional indicado en la línea 11 entre los hijos según la participación de cada hijo en el total de los ingresos netos no derivados del trabajo. Federal income tax forms 2011 Esto se hace en las líneas 12a, 12b y 13. Federal income tax forms 2011 Sume la cantidad de la línea 7 a la de la línea 5 y anote el total en la línea 12a. Federal income tax forms 2011 Divida la cantidad de la línea 5 entre la de la línea 12a y anote el resultado, como número decimal, en la línea 12b. Federal income tax forms 2011 Ejemplo. Federal income tax forms 2011 En el ejemplo anterior bajo Línea 7 (ingresos netos no derivados del trabajo de otros hijos), el Formulario 8615 de Sandra indica $1,600 en la línea 7. Federal income tax forms 2011 La cantidad anotada en la línea 12a es $2,400, o sea, el total de las cantidades provenientes de las líneas 5 y 7 ($800 + $1,600). Federal income tax forms 2011 El número decimal en la línea 12b es . Federal income tax forms 2011 333, calculado de la siguienta manera y redondeado hasta tres decimales:   $800 = . Federal income tax forms 2011 333     $2,400   Paso 3. Federal income tax forms 2011 Cómo Calcular el Impuesto del Hijo (Parte III del Formulario 8615) El último paso para calcular el impuesto de su hijo utilizando el Formulario 8615 es determinar la cantidad mayor entre: El total de: La parte del impuesto provisional correspondiente al hijo basado en la tasa impositiva del padre o de la madre, más El impuesto sobre los ingresos tributables del hijo que sean superiores a los ingresos netos no derivados del trabajo, calculado a la tasa impositiva del hijo o El impuesto sobre los ingresos tributables del hijo calculado a la tasa impositiva del hijo. Federal income tax forms 2011 Éste es el impuesto del hijo. Federal income tax forms 2011 Se calcula en las líneas 14 a 18 del Formulario 8615. Federal income tax forms 2011 Impuesto mínimo alternativo. Federal income tax forms 2011   Un hijo puede estar sujeto al impuesto mínimo alternativo (AMT, por sus siglas en inglés) si cuenta con determinados elementos que reciben un trato preferente conforme a la ley tributaria. Federal income tax forms 2011 Vea el tema titulado Impuesto Mínimo Alternativo (AMT) , en el capítulo 30. Federal income tax forms 2011    Para información adicional acerca de quién tiene que pagar el AMT y cómo calcularlo, vea el Formulario 6251, Alternative Minimum Tax—Individuals (Impuesto mínimo alternativo—individuos), en inglés. Federal income tax forms 2011 Para información sobre límites especiales aplicables a un hijo que presente el Formulario 6251, vea Certain Children Under Age 24 (Determinados hijos menores de 24 años de edad), en las Instrucciones para el Formulario 6251, en inglés. Federal income tax forms 2011 Prev  Up  Next   Home   More Online Publications