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Federal Tax Form 1040x

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Federal Tax Form 1040x

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

Federal tax form 1040x 4. Federal tax form 1040x   Underpayment Penalty for 2013 Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: General RuleFarmers and fishermen. Federal tax form 1040x Higher income taxpayers. Federal tax form 1040x Minimum required for higher income taxpayers. Federal tax form 1040x Estate or trust payments of estimated tax. Federal tax form 1040x Lowering or eliminating the penalty. Federal tax form 1040x ExceptionsLess Than $1,000 Due No Tax Liability Last Year Figuring Your Required Annual Payment (Part I) Short Method for Figuring the Penalty (Part III) Regular Method for Figuring the Penalty (Part IV)Figuring Your Underpayment (Part IV, Section A) Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Annualized Income Installment Method (Schedule AI) Farmers and Fishermen Waiver of PenaltyFarmers and fishermen. Federal tax form 1040x Introduction If you did not pay enough tax, either through withholding or by making timely estimated tax payments, you will have underpaid your estimated tax and may have to pay a penalty. Federal tax form 1040x You may understand this chapter better if you can refer to a copy of your latest federal income tax return. Federal tax form 1040x No penalty. Federal tax form 1040x   Generally, you will not have to pay a penalty for 2013 if any of the following apply. Federal tax form 1040x The total of your withholding and timely estimated tax payments was at least as much as your 2012 tax. Federal tax form 1040x (See Special rules for certain individuals for higher income taxpayers and farmers and fishermen. Federal tax form 1040x ) The tax balance due on your 2013 return is no more than 10% of your total 2013 tax, and you paid all required estimated tax payments on time. Federal tax form 1040x Your total tax for 2013 (defined later) minus your withholding is less than $1,000. Federal tax form 1040x You did not have a tax liability for 2012. Federal tax form 1040x You did not have any withholding taxes and your current year tax (less any household employment taxes) is less than $1,000. Federal tax form 1040x IRS can figure the penalty for you. Federal tax form 1040x   If you think you owe the penalty, but you do not want to figure it yourself when you file your tax return, you may not have to. Federal tax form 1040x Generally, the IRS will figure the penalty for you and send you a bill. Federal tax form 1040x   You only need to figure your penalty in the following three situations. Federal tax form 1040x You are requesting a waiver of part, but not all, of the penalty. Federal tax form 1040x You are using the annualized income installment method to figure the penalty. Federal tax form 1040x You are treating the federal income tax withheld from your income as paid on the dates actually withheld. Federal tax form 1040x However, if these situations do not apply to you, and you think you can lower or eliminate your penalty, complete Form 2210 or Form 2210-F and attach it to your return. Federal tax form 1040x See Form 2210 , later. Federal tax form 1040x Topics - This chapter discusses: The general rule for the underpayment penalty, Special rules for certain individuals, Exceptions to the underpayment penalty, How to figure your underpayment and the amount of your penalty on Form 2210, and How to ask the IRS to waive the penalty. Federal tax form 1040x Useful Items - You may want to see: Form (and Instructions) 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2210-F Underpayment of Estimated Tax by Farmers and Fishermen See chapter 5 for information about getting these forms. Federal tax form 1040x General Rule In general, you may owe a penalty for 2013 if the total of your withholding and timely estimated tax payments did not equal at least the smaller of: 90% of your 2013 tax, or 100% of your 2012 tax. Federal tax form 1040x (Your 2012 tax return must cover a 12-month period. Federal tax form 1040x ) Your 2013 tax, for this purpose, is defined under Total tax for 2013 , later. Federal tax form 1040x Special rules for certain individuals. Federal tax form 1040x   There are special rules for farmers and fishermen and certain higher income taxpayers. Federal tax form 1040x Farmers and fishermen. Federal tax form 1040x   If at least two-thirds of your gross income for 2012 or 2013 is from farming or fishing, substitute  662/3% for 90% in (1) above. Federal tax form 1040x   See Farmers and Fishermen , later. Federal tax form 1040x Higher income taxpayers. Federal tax form 1040x   If your AGI for 2012 was more than $150,000 ($75,000 if your 2013 filing status is married filing a separate return), substitute 110% for 100% in (2) under General Rule . Federal tax form 1040x This rule does not apply to farmers or fishermen. Federal tax form 1040x   For 2012, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. Federal tax form 1040x Penalty figured separately for each period. Federal tax form 1040x   Because the penalty is figured separately for each payment period, you may owe a penalty for an earlier payment period even if you later paid enough to make up the underpayment. Federal tax form 1040x This is true even if you are due a refund when you file your income tax return. Federal tax form 1040x Example. Federal tax form 1040x You did not make estimated tax payments for 2013 because you thought you had enough tax withheld from your wages. Federal tax form 1040x Early in January 2014, you made an estimate of your total 2013 tax. Federal tax form 1040x Then you realized that your withholding was $2,000 less than the amount needed to avoid a penalty for underpayment of estimated tax. Federal tax form 1040x On January 10, you made an estimated tax payment of $3,000, which is the difference between your withholding and your estimate of your total tax. Federal tax form 1040x Your final return shows your total tax to be $50 less than your estimate, so you are due a refund. Federal tax form 1040x You do not owe a penalty for your payment due January 15, 2014. Federal tax form 1040x However, you may owe a penalty through January 10, 2014, the day you made the $3,000 payment, for your underpayments for the earlier payment periods. Federal tax form 1040x Minimum required each period. Federal tax form 1040x   You will owe a penalty for any 2013 payment period for which your estimated tax payment plus your withholding for the period and overpayments applied from previous periods was less than the smaller of: 22. Federal tax form 1040x 5% of your 2013 tax, or 25% of your 2012 tax. Federal tax form 1040x (Your 2012 tax return must cover a 12-month period. Federal tax form 1040x ) Minimum required for higher income taxpayers. Federal tax form 1040x   If you are subject to the rule for higher income taxpayers, discussed above, substitute 27. Federal tax form 1040x 5% for 25% in (2) under General Rule . Federal tax form 1040x When penalty is charged. Federal tax form 1040x   If you miss a payment or you paid less than the minimum required in a period, you may be charged an underpayment penalty from the date the amount was due to the date the payment is made. Federal tax form 1040x If a payment is mailed, the date of the U. Federal tax form 1040x S. Federal tax form 1040x postmark is considered the date of payment. Federal tax form 1040x   If a payment is made electronically, the date the payment is shown on your payment account (checking, savings, etc. Federal tax form 1040x ) is considered to be the date of payment. Federal tax form 1040x Estate or trust payments of estimated tax. Federal tax form 1040x   If you have estimated taxes credited to you from an estate or trust (Schedule K-1 (Form 1041)), treat the payment as made by you on January 15, 2014. Federal tax form 1040x Amended returns. Federal tax form 1040x    If you file an amended return by the due date of your original return, use the tax shown on your amended return to figure your required estimated tax payments. Federal tax form 1040x If you file an amended return after the due date of the original return, use the tax shown on the original return. Federal tax form 1040x   However, if you and your spouse file a joint return after the due date to replace separate returns you originally filed by the due date, use the tax shown on the joint return to figure your required estimated tax payments. Federal tax form 1040x This rule applies only if both original separate returns were filed on time. Federal tax form 1040x 2012 separate returns and 2013 joint return. Federal tax form 1040x    If you file a joint return with your spouse for 2013, but you filed separate returns for 2012, your 2012 tax is the total of the tax shown on your separate returns. Federal tax form 1040x You filed a separate return if you filed as single, head of household, or married filing separately. Federal tax form 1040x 2012 joint return and 2013 separate returns. Federal tax form 1040x    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, your 2012 tax is your share of the tax on the joint return. Federal tax form 1040x You are filing a separate return if you file as single, head of household, or married filing separately. Federal tax form 1040x   To figure your share of the taxes on a joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2012 using the same filing status as for 2013. Federal tax form 1040x Then multiply the tax on the joint return by the following fraction. Federal tax form 1040x   The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. Federal tax form 1040x Lisa and Paul filed a joint return for 2012 showing taxable income of $49,000 and a tax of $6,484. Federal tax form 1040x Of the $49,000 taxable income, $41,000 was Lisa's and the rest was Paul's. Federal tax form 1040x For 2013, they file married filing separately. Federal tax form 1040x Lisa figures her share of the tax on the 2012 joint return as follows. Federal tax form 1040x 2012 tax on $41,000 based on a separate return $ 6,286 2012 tax on $8,000 based on a  separate return 803 Total $ 7,089 Lisa's percentage of total tax  ($6,286 ÷ $ 7,089) 88. Federal tax form 1040x 67% Lisa's part of tax on joint return ($6,484 × 88. Federal tax form 1040x 67%) $ 5,749 Form 2210. Federal tax form 1040x   In most cases, you do not need to file Form 2210. Federal tax form 1040x The IRS will figure the penalty for you and send you a bill. Federal tax form 1040x If you want us to figure the penalty for you, leave the penalty line on your return blank. Federal tax form 1040x Do not file Form 2210. Federal tax form 1040x   To determine if you should file Form 2210, see Part II of Form 2210. Federal tax form 1040x If you decide to figure your penalty, complete Part I, Part II, and either Part III or Part IV of the form and the Penalty Worksheet in the Instructions for Form 2210. Federal tax form 1040x If you use Form 2210, you cannot file Form 1040EZ. Federal tax form 1040x   On Form 1040, enter the amount of your penalty on line 77. Federal tax form 1040x If you owe tax on line 76, add the penalty to your tax due and show your total payment on line 76. Federal tax form 1040x If you are due a refund, subtract the penalty from the overpayment and enter the result on line 73. Federal tax form 1040x   On Form 1040A, enter the amount of your penalty on line 46. Federal tax form 1040x If you owe tax on line 45, add the penalty to your tax due and show your total payment on line 45. Federal tax form 1040x If you are due a refund, subtract the penalty from the overpayment and enter the result on line 42. Federal tax form 1040x Lowering or eliminating the penalty. Federal tax form 1040x    You may be able to lower or eliminate your penalty if you file Form 2210. Federal tax form 1040x You must file Form 2210 with your return if any of the following applies. Federal tax form 1040x You request a waiver. Federal tax form 1040x See Waiver of Penalty , later. Federal tax form 1040x You use the annualized income installment method. Federal tax form 1040x See the explanation of this method under Annualized Income Installment Method (Schedule AI) . Federal tax form 1040x You use your actual withholding for each payment period for estimated tax purposes. Federal tax form 1040x See Actual withholding method under Figuring Your Underpayment (Part IV, Section A). Federal tax form 1040x You base any of your required installments on the tax shown on your 2012 return and you filed or are filing a joint return for either 2012 or 2013, but not for both years. Federal tax form 1040x Exceptions Generally, you do not have to pay an underpayment penalty if either: Your total tax is less than $1,000, or You had no tax liability last year. Federal tax form 1040x Less Than $1,000 Due You do not owe a penalty if the total tax shown on your return minus the amount you paid through withholding (including excess social security and tier 1 railroad retirement (RRTA) tax withholding) is less than $1,000. Federal tax form 1040x Total tax for 2013. Federal tax form 1040x   For 2013, your total tax on Form 1040 is the amount on line 61 reduced by the following. Federal tax form 1040x    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). Federal tax form 1040x Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. Federal tax form 1040x The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. Federal tax form 1040x Any refundable credit amounts listed on lines 64a, 65, 66, 70, and any credit from Form 8885 included on line 71. Federal tax form 1040x   If you filed Form 1040A, your 2013 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. Federal tax form 1040x   If you filed Form 1040EZ, your 2013 total tax is the amount on line 10 reduced by the amount on line 8a. Federal tax form 1040x Note. Federal tax form 1040x When figuring the amount on line 60, include household employment taxes only if you had federal income tax withheld from your income or you would owe the penalty even if you did not include those taxes. Federal tax form 1040x Paid through withholding. Federal tax form 1040x    For 2013, the amount you paid through withholding on Form 1040 is the amount on line 62 plus any excess social security or tier 1 RRTA tax withholding on line 69. Federal tax form 1040x Add to that any write-in amount on line 72 identified as “Form 8689. Federal tax form 1040x ” On Form 1040A, the amount you paid through withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included on line 41. Federal tax form 1040x On Form 1040EZ, it is the amount on line 7. Federal tax form 1040x No Tax Liability Last Year You do not owe a penalty if you had no tax liability last year and you were a U. Federal tax form 1040x S. Federal tax form 1040x citizen or resident for the whole year. Federal tax form 1040x For this rule to apply, your tax year must have included all 12 months of the year. Federal tax form 1040x You had no tax liability for 2012 if your total tax was zero or you were not required to file an income tax return. Federal tax form 1040x Example. Federal tax form 1040x Ray, who is single and 22 years old, was unemployed for a few months during 2012. Federal tax form 1040x He earned $6,700 in wages before he was laid off, and he received $1,400 in unemployment compensation afterwards. Federal tax form 1040x He had no other income. Federal tax form 1040x Even though he had gross income of $8,100, he did not have to pay income tax because his gross income was less than the filing requirement for a single person under age 65 ($9,750 for 2012). Federal tax form 1040x He filed a return only to have his withheld income tax refunded to him. Federal tax form 1040x In 2013, Ray began regular work as an independent contractor. Federal tax form 1040x Ray made no estimated tax payments in 2013. Federal tax form 1040x Even though he did owe tax at the end of the year, Ray does not owe the underpayment penalty for 2013 because he had no tax liability in 2012. Federal tax form 1040x Total tax for 2012. Federal tax form 1040x   For 2012, your total tax on Form 1040 is the amount on line 61 reduced by the following. Federal tax form 1040x    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). Federal tax form 1040x Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. Federal tax form 1040x The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. Federal tax form 1040x Any refundable credit amounts listed on lines 64a, 65, 66, 70, and credits from Forms 8801 (line 27 only), and 8885 included on line 71. Federal tax form 1040x   If you filed Form 1040A, your 2012 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. Federal tax form 1040x   If you filed Form 1040EZ, your 2012 total tax is the amount on line 11 reduced by the amount on line 8a. Federal tax form 1040x Figuring Your Required Annual Payment (Part I) Figure your required annual payment in Part I of Form 2210, following the line-by-line instructions. Federal tax form 1040x If you rounded the entries on your tax return to whole dollars, you can round on Form 2210. Federal tax form 1040x Example. Federal tax form 1040x The tax on Lori Lane's 2012 return was $12,400. Federal tax form 1040x Her AGI was not more than $150,000 for either 2012 or 2013. Federal tax form 1040x The tax on her 2013 return (Form 1040, line 55) is $13,044. Federal tax form 1040x Line 56 (self-employment tax) is $8,902. Federal tax form 1040x Her 2013 total tax is $21,946. Federal tax form 1040x For 2013, Lori had $1,600 income tax withheld and made four equal estimated tax payments ($1,000 each). Federal tax form 1040x 90% of her 2013 tax is $19,751. Federal tax form 1040x Because she paid less than her 2012 tax ($12,400) and less than 90% of her 2013 tax ($19,751), and does not meet an exception, Lori knows that she owes a penalty for underpayment of estimated tax. Federal tax form 1040x The IRS will figure the penalty for Lori, but she decides to figure it herself on Form 2210 and pay it with her taxes when she files her tax return. Federal tax form 1040x Lori's required annual payment is $12,400 (100% of 2012 tax) because that is smaller than 90% of her 2013 tax. Federal tax form 1040x Different 2012 filing status. Federal tax form 1040x    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, see 2012 joint return and 2013 separate returns , earlier, to figure the amount to enter as your 2012 tax on line 8 of Form 2210. Federal tax form 1040x Short Method for Figuring the Penalty (Part III) You may be able to use the short method in Part III of Form 2210 to figure your penalty for underpayment of estimated tax. Federal tax form 1040x If you qualify to use this method, it will result in the same penalty amount as the regular method. Federal tax form 1040x However, either the annualized income installment method or the actual withholding method, explained later, may result in a smaller penalty. Federal tax form 1040x You can use the short method only if you meet one of the following requirements. Federal tax form 1040x You made no estimated tax payments for 2013 (it does not matter whether you had income tax withholding). Federal tax form 1040x You paid the same amount of estimated tax on each of the four payment due dates. Federal tax form 1040x If you do not meet either requirement, figure your penalty using the regular method in Part IV of Form 2210 and the Penalty Worksheet in the instructions. Federal tax form 1040x Note. Federal tax form 1040x If any payment was made before the due date, you can use the short method, but the penalty may be less if you use the regular method. Federal tax form 1040x However, if the payment was only a few days early, the difference is likely to be small. Federal tax form 1040x You cannot use the short method if any of the following apply. Federal tax form 1040x You made any estimated tax payments late. Federal tax form 1040x You checked box C or D in Part II of Form 2210. Federal tax form 1040x You are filing Form 1040NR or 1040NR-EZ and you did not receive wages as an employee subject to U. Federal tax form 1040x S. Federal tax form 1040x income tax withholding. Federal tax form 1040x If you use the short method, you cannot use the annualized income installment method to figure your underpayment for each payment period. Federal tax form 1040x Also, you cannot use your actual withholding during each period to figure your payments for each period. Federal tax form 1040x These methods, which may give you a smaller penalty amount, are explained under Figuring Your Underpayment (Part IV, Section A). Federal tax form 1040x Complete Part III of Form 2210 following the line-by-line instructions in the Instructions for Form 2210. Federal tax form 1040x Regular Method for Figuring the Penalty (Part IV) You can use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if you paid one or more estimated tax payments earlier than the due date. Federal tax form 1040x You must use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if any of the following apply to you. Federal tax form 1040x You paid one or more estimated tax payments on a date after the due date. Federal tax form 1040x You paid at least one, but less than four, installments of estimated tax. Federal tax form 1040x You paid estimated tax payments in un- equal amounts. Federal tax form 1040x You use the annualized income installment method to figure your underpayment for each payment period. Federal tax form 1040x You use your actual withholding during each payment period to figure your payments. Federal tax form 1040x Under the regular method, figure your underpayment for each payment period in Section A, then figure your penalty using the Penalty Worksheet in the Instructions for Form 2210. Federal tax form 1040x Enter the results on line 27 of Section B. Federal tax form 1040x Figuring Your Underpayment (Part IV, Section A) Figure your underpayment of estimated tax for each payment period in Section A following the line-by-line instructions in the Instructions for Form 2210. Federal tax form 1040x Complete lines 20 through 26 of the first column before going to line 20 of the next column. Federal tax form 1040x Required installments—line 18. Federal tax form 1040x   Your required payment for each payment period (line 18) is usually one-fourth of your required annual payment (Part I, line 9). Federal tax form 1040x This method—the regular method—is the one to use if you received your income evenly throughout the year. Federal tax form 1040x   However, if you did not receive your income evenly throughout the year, you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. Federal tax form 1040x First complete Schedule AI (Form 2210), then enter the amounts from line 25 of that schedule on line 18 of Form 2210, Part IV. Federal tax form 1040x See Annualized Income Installment Method (Schedule AI), later. Federal tax form 1040x Payments made—line 19. Federal tax form 1040x   Enter in each column the total of: Your estimated tax paid after the due date for the previous column and by the due date shown at the top of the column, and One-fourth of your withholding. Federal tax form 1040x For special rules for figuring your payments, see Form 2210 instructions for line 19. Federal tax form 1040x   If you file Form 1040, your withholding is the amount on line 62, plus any excess social security or tier 1 RRTA tax withholding on line 69. Federal tax form 1040x If you file Form 1040A, your withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included in line 41. Federal tax form 1040x Actual withholding method. Federal tax form 1040x    Instead of using one-fourth of your withholding for each quarter, you can choose to use the amounts actually withheld by each due date. Federal tax form 1040x You can make this choice separately for the tax withheld from your wages and for all other withholding. Federal tax form 1040x This includes any excess social security and tier 1 RRTA tax withheld. Federal tax form 1040x   Using your actual withholding may result in a smaller penalty if most of your withholding occurred early in the year. Federal tax form 1040x   If you use your actual withholding, you must check box D in Form 2210, Part II. Federal tax form 1040x Then complete Form 2210 using the regular method (Part IV) and file it with your return. Federal tax form 1040x Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Figure the amount of your penalty for Section B using the Penalty Worksheet in the Form 2210 instructions. Federal tax form 1040x The penalty is imposed on each underpayment amount shown on Form 2210, Section A, line 25, for the number of days that it remained unpaid. Federal tax form 1040x For 2013, there are four rate periods—April 16 through June 30, July 1 through September 30, October 1 through December 31, and January 1, 2014 through April 15, 2014. Federal tax form 1040x A 3% rate applies to all four periods. Federal tax form 1040x Payments. Federal tax form 1040x    Before completing the Penalty Worksheet, it may be helpful to make a list of the payments you made and income tax withheld after the due date (or the last day payments could be made on time) for the earliest payment period an underpayment occurred. Federal tax form 1040x For example, if you had an underpayment for the first payment period, list your payments after April 15, 2013. Federal tax form 1040x You can use the table in the Form 2210 instructions to make your list. Federal tax form 1040x Follow those instructions for listing income tax withheld and payments made with your return. Federal tax form 1040x Use the list to determine when each underpayment was paid. Federal tax form 1040x   If you mail your estimated tax payments, use the date of the U. Federal tax form 1040x S. Federal tax form 1040x postmark as the date of payment. Federal tax form 1040x Line 1b. Federal tax form 1040x   Apply the payments listed to underpayment balance in the first column until it is fully paid. Federal tax form 1040x Apply payments in the order made. Federal tax form 1040x Figuring the penalty. Federal tax form 1040x   If an underpayment was paid in two or more payments on different dates, you must figure the penalty separately for each payment. Federal tax form 1040x On line 3 of the Penalty Worksheet enter the number of days between the due date (line 2) and the date of each payment on line 1b. Federal tax form 1040x On line 4 figure the penalty for the amount of each payment applied on line 1b or the amount remaining unpaid. Federal tax form 1040x If no payments are applied, figure the penalty on the amount on line 1a. Federal tax form 1040x Aid for counting days. Federal tax form 1040x    Table 4-1 provides a simple method for counting the number of days between a due date and a payment date. Federal tax form 1040x Find the number for the date the payment was due by going across to the column of the month the payment was due and moving down the column to the due date. Federal tax form 1040x In the same manner, find the number for the date the payment was made. Federal tax form 1040x Subtract the due date “number” from the payment date “number. Federal tax form 1040x ”   For example, if a payment was due on June 15 (61), but was not paid until September 1 (139), the payment was 78 (139 – 61) days late. Federal tax form 1040x Table 4-1. Federal tax form 1040x Calendar To Determine the Number of Days a Payment Is Late Instructions. Federal tax form 1040x Use this table with Form 2210 if you are completing Part IV, Section B. Federal tax form 1040x First, find the number for the payment due date by going across to the column of the month the payment was due and moving down the column to the due date. Federal tax form 1040x Then, in the same manner, find the number for the date the payment was made. Federal tax form 1040x Finally, subtract the due date number from the payment date number. Federal tax form 1040x The result is the number of days the payment is late. Federal tax form 1040x Example. Federal tax form 1040x The payment due date is June 15 (61). Federal tax form 1040x The payment was made on November 4 (203). Federal tax form 1040x The payment is 142 days late (203 – 61). Federal tax form 1040x Tax Year 2013 Day of 2013 2013 2013 2013 2013 2013 2013 2013 2013 2014 2014 2014 2014 Month April May June July Aug. Federal tax form 1040x Sept. Federal tax form 1040x Oct. Federal tax form 1040x Nov. Federal tax form 1040x Dec. Federal tax form 1040x Jan. Federal tax form 1040x Feb. Federal tax form 1040x Mar. Federal tax form 1040x Apr. Federal tax form 1040x 1   16 47 77 108 139 169 200 230 261 292 320 351 2   17 48 78 109 140 170 201 231 262 293 321 352 3   18 49 79 110 141 171 202 232 263 294 322 353 4   19 50 80 111 142 172 203 233 264 295 323 354 5   20 51 81 112 143 173 204 234 265 296 324 355 6   21 52 82 113 144 174 205 235 266 297 325 356 7   22 53 83 114 145 175 206 236 267 298 326 357 8   23 54 84 115 146 176 207 237 268 299 327 358 9   24 55 85 116 147 177 208 238 269 300 328 359 10   25 56 86 117 148 178 209 239 270 301 329 360 11   26 57 87 118 149 179 210 240 271 302 330 361 12   27 58 88 119 150 180 211 241 272 303 331 362 13   28 59 89 120 151 181 212 242 273 304 332 363 14   29 60 90 121 152 182 213 243 274 305 333 364 15 0 30 61 91 122 153 183 214 244 275 306 334 365 16 1 31 62 92 123 154 184 215 245 276 307 335   17 2 32 63 93 124 155 185 216 246 277 308 336   18 3 33 64 94 125 156 186 217 247 278 309 337   19 4 34 65 95 126 157 187 218 248 279 310 338   20 5 35 66 96 127 158 188 219 249 280 311 339   21 6 36 67 97 128 159 189 220 250 281 312 340   22 7 37 68 98 129 160 190 221 251 282 313 341   23 8 38 69 99 130 161 191 222 252 283 314 342   24 9 39 70 100 131 162 192 223 253 284 315 343   25 10 40 71 101 132 163 193 224 254 285 316 344   26 11 41 72 102 133 164 194 225 255 286 317 345   27 12 42 73 103 134 165 195 226 256 287 318 346   28 13 43 74 104 135 166 196 227 257 288 319 347   29 14 44 75 105 136 167 197 228 258 289   348   30 15 45 76 106 137 168 198 229 259 290   349   31   46   107 138   199   260 291   350   Annualized Income Installment Method (Schedule AI) If you did not receive your income evenly throughout the year (for example, your income from a shop you operated at a marina was much larger in the summer than it was during the rest of the year), you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. Federal tax form 1040x Under this method, your required installment (Part IV, line 18) for one or more payment periods may be less than one-fourth of your required annual payment. Federal tax form 1040x To figure your underpayment using this method, complete Form 2210, Schedule AI. Federal tax form 1040x Schedule AI annualizes your tax at the end of each payment period based on your income, deductions, and other items relating to events that occurred from the beginning of the tax year through the end of the period. Federal tax form 1040x If you use the annualized income installment method, you must check box C in Part II of Form 2210. Federal tax form 1040x Also, you must attach Form 2210 and Schedule AI to your return. Federal tax form 1040x If you use Schedule AI for any payment due date, you must use it for all payment due dates. Federal tax form 1040x Completing Schedule AI. Federal tax form 1040x   Follow the Form 2210 instructions to complete Schedule AI. Federal tax form 1040x For each period shown on Schedule AI, figure your income and deductions based on your method of accounting. Federal tax form 1040x If you use the cash method of accounting (used by most people), include all income actually or constructively received during the period and all deductions actually paid during the period. Federal tax form 1040x Note. Federal tax form 1040x Each period includes amounts from the previous period(s). Federal tax form 1040x Period (a) includes items for January 1 through March 31. Federal tax form 1040x Period (b) includes items for January 1 through May 31. Federal tax form 1040x Period (c) includes items for January 1 through August 31. Federal tax form 1040x Period (d) includes items for the entire year. Federal tax form 1040x Farmers and Fishermen If you are a farmer or fisherman, the following special rules for underpayment of estimated tax apply to you. Federal tax form 1040x The penalty for underpaying your 2013 estimated tax will not apply if you file your return and pay all the tax due by March 3, 2014. Federal tax form 1040x If you are a fiscal year taxpayer, the penalty will not apply if you file your return and pay the tax due by the first day of the third month after the end of your tax year. Federal tax form 1040x Any penalty you owe for underpaying your 2013 estimated tax will be figured from one payment due date, January 15, 2014. Federal tax form 1040x The underpayment penalty for 2013 is figured on the difference between the amount of 2013 withholding plus estimated tax paid by the due date and the smaller of: 662/3% (rather than 90%) of your 2013 tax, or 100% of the tax shown on your 2012 return. Federal tax form 1040x Even if these special rules apply to you, you will not owe the penalty if you meet either of the two conditions discussed under Exceptions . Federal tax form 1040x See Who Must Pay Estimated Tax in chapter 2 for the definition of a farmer or fisherman who is eligible for these special rules. Federal tax form 1040x Form 2210-F. Federal tax form 1040x   Use Form 2210-F to figure any underpayment penalty. Federal tax form 1040x Do not attach it to your return unless you check a box in Part I. Federal tax form 1040x However, if none of the boxes apply to you and you owe a penalty, you do not need to attach Form 2210-F. Federal tax form 1040x Enter the amount from line 16 on Form 1040, line 77 and add the penalty to any balance due on your return or subtract it from your refund. Federal tax form 1040x Keep your filled-in Form 2210-F for your records. Federal tax form 1040x    If none of the boxes on Form 2210-F apply to you and you owe a penalty, the IRS can figure your penalty and send you a bill. Federal tax form 1040x Waiver of Penalty The IRS can waive the penalty for underpayment if either of the following applies. Federal tax form 1040x You did not make a payment because of a casualty, disaster, or other unusual circumstance and it would be inequitable to impose the penalty. Federal tax form 1040x You retired (after reaching age 62) or became disabled in 2012 or 2013 and both the following requirements are met. Federal tax form 1040x You had a reasonable cause for not making the payment. Federal tax form 1040x Your underpayment was not due to willful neglect. Federal tax form 1040x How to request a waiver. Federal tax form 1040x   To request a waiver, see the Instructions for Form 2210. Federal tax form 1040x Farmers and fishermen. Federal tax form 1040x   To request a waiver, see the Instructions for Form 2210-F. Federal tax form 1040x Federally declared disaster. Federal tax form 1040x   Certain estimated tax payment deadlines for taxpayers who reside or have a business in a federally declared disaster area are postponed for a period during and after the disaster. Federal tax form 1040x During the processing of your tax return, the IRS automatically identifies taxpayers located in a covered disaster area (by county or parish) and applies the appropriate penalty relief. Federal tax form 1040x Do not file Form 2210 or 2210-F if your underpayment was due to a federally declared disaster. Federal tax form 1040x If you still owe a penalty after the automatic waiver is applied, we will send you a bill. Federal tax form 1040x   Individuals, estates, and trusts not in a covered disaster area but whose books, records, or tax professionals' offices are in a covered area are also entitled to relief. Federal tax form 1040x Also eligible are relief workers affiliated with a recognized government or charitable organization assisting in the relief activities in a covered disaster area. Federal tax form 1040x If you meet either of these eligibility requirements, you must call the IRS disaster hotline at 1-866-562-5227 and identify yourself as eligible for this relief. Federal tax form 1040x   Details on the applicable disaster postponement period can be found at IRS. Federal tax form 1040x gov. Federal tax form 1040x Enter Tax Relief in Disaster Situations. Federal tax form 1040x Select the federally declared disaster that affected you. Federal tax form 1040x    Worksheet 4-1. Federal tax form 1040x 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Note. Federal tax form 1040x To figure the annualized entries for lines 2, 3, and 5 below, multiply the expected amount for the period by the  annualization amount on line 2 of Schedule AI for the same period. Federal tax form 1040x                   1. Federal tax form 1040x Enter line 11 of your Schedule AI, or line 3 from Worksheet 4-2 1. Federal tax form 1040x       2. Federal tax form 1040x Enter your annualized qualified dividends for the period 2. Federal tax form 1040x           3. Federal tax form 1040x Are you filing Schedule D?               □ Yes. Federal tax form 1040x Enter the smaller of your annualized amount from line 15 or line 16 of Schedule D. Federal tax form 1040x If either line 15 or line 16 is blank or a loss, enter -0-. Federal tax form 1040x 3. Federal tax form 1040x             □ No. Federal tax form 1040x Enter your annualized capital gain distributions from Form 1040, line 13             4. Federal tax form 1040x Add lines 2 and 3   4. Federal tax form 1040x           5. Federal tax form 1040x If you are claiming investment interest expense on Form 4952, enter your annualized amount from line 4g of that form. Federal tax form 1040x Otherwise, enter -0-   5. Federal tax form 1040x           6. Federal tax form 1040x Subtract line 5 from line 4. Federal tax form 1040x If zero or less, enter -0- 6. Federal tax form 1040x       7. Federal tax form 1040x Subtract line 6 from line 1. Federal tax form 1040x If zero or less, enter -0- 7. Federal tax form 1040x       8. Federal tax form 1040x Enter: $36,900 if single or married filing separately, $73,800 if married filing jointly or qualifying widow(er), $49,400 if head of household. Federal tax form 1040x 8. Federal tax form 1040x       9. Federal tax form 1040x Enter the smaller of line 1 or line 8 9. Federal tax form 1040x       10. Federal tax form 1040x Enter the smaller of line 7 or line 9 10. Federal tax form 1040x       11. Federal tax form 1040x Subtract line 10 from line 9. Federal tax form 1040x This amount is taxed at 0% 11. Federal tax form 1040x       12. Federal tax form 1040x Enter the smaller of line 1 or line 6 12. Federal tax form 1040x       13. Federal tax form 1040x Enter the amount from line 11 13. Federal tax form 1040x       14. Federal tax form 1040x Subtract line 13 from line 12 14. Federal tax form 1040x       15. Federal tax form 1040x Multiply line 14 by 15% (. Federal tax form 1040x 15) 15. Federal tax form 1040x   16. Federal tax form 1040x Figure the tax on the amount on line 7. Federal tax form 1040x If the amount on line 7 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. Federal tax form 1040x If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 16. Federal tax form 1040x   17. Federal tax form 1040x Add lines 15 and 16 17. Federal tax form 1040x   18. Federal tax form 1040x Figure the tax on the amount on line 1. Federal tax form 1040x If the amount on line 1 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. Federal tax form 1040x If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 18. Federal tax form 1040x   19. Federal tax form 1040x Tax on all taxable income. Federal tax form 1040x Enter the smaller of line 17 or line 18. Federal tax form 1040x Also enter this amount on line 12 of Schedule AI in the appropriate column. Federal tax form 1040x However, if you are using this worksheet to figure the tax on the amount on line 3 of Worksheet 4-2, enter the amount from line 19 on Worksheet 4-2, line 4 19. Federal tax form 1040x   Worksheet 4-2. Federal tax form 1040x 2013 Form 2210, Schedule AI—Line 12 Foreign Earned Income Tax Worksheet Before you begin:If Schedule AI, line 11, is zero for the period, do not complete this worksheet. Federal tax form 1040x             1. Federal tax form 1040x Enter the amount from line 11 of Schedule AI for the period 1. Federal tax form 1040x   2. Federal tax form 1040x Enter the annualized amount* of foreign earned income and housing amount excluded or deducted (from  Form 2555, lines 45 and 50, or Form 2555-EZ, line 18) in figuring the amount entered for the period on line 1  of Schedule AI 2. Federal tax form 1040x   3. Federal tax form 1040x Add lines 1 and 2 3. Federal tax form 1040x   4. Federal tax form 1040x Tax on the amount on line 3. Federal tax form 1040x Use the Tax Table, Tax Computation Worksheet, Form 8615**, Qualified Dividends and Capital Gain Tax Worksheet***, or Schedule D Tax Worksheet***, whichever applies. Federal tax form 1040x See the 2013 Instructions for Form 1040, line 44, to find out which tax computation method to use. Federal tax form 1040x (Note. Federal tax form 1040x You do not have to use the same method for each period on Schedule AI. Federal tax form 1040x ) 4. Federal tax form 1040x   5. Federal tax form 1040x Tax on the amount on line 2. Federal tax form 1040x If the amount on line 2 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. Federal tax form 1040x If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 5. Federal tax form 1040x   6. Federal tax form 1040x Subtract line 5 from line 4. Federal tax form 1040x Enter the result here and on line 12 of Schedule AI. Federal tax form 1040x If zero or less,  enter -0- 6. Federal tax form 1040x             * To figure the annualized amount for line 2, multiply the exclusion or deduction for the period by the annualization amount on line 2 of Schedule AI for the same period. Federal tax form 1040x     ** If you use Form 8615 to figure the tax on line 4 above, enter the amount from line 3 above on line 4 of Form 8615. Federal tax form 1040x If the child's parent files Form 2555 or 2555-EZ, enter the amounts from lines 3 and 4 of the parent's Foreign Earned Income Tax Worksheet on lines 6 and 10, respectively, of Form 8615. Federal tax form 1040x Complete the rest of Form 8615 according to its instructions. Federal tax form 1040x Then complete lines 5 and 6 above. Federal tax form 1040x     *** Enter the amount from line 3 above on line 1 of the Qualified Dividends and Capital Gain Tax Worksheet (or Worksheet 4-1 in this chapter) or the Schedule D Tax Worksheet, whichever worksheet you use to figure the tax on line 4 above. Federal tax form 1040x Complete that worksheet through line 6 (line 10 if you use the Schedule D Tax Worksheet). Federal tax form 1040x Next, determine if you have a capital gain excess. Federal tax form 1040x     Figuring capital gain excess. Federal tax form 1040x To find out if you have a capital gain excess for the appropriate period, subtract line 11 of Schedule AI from line 6 of Worksheet 4-1 or your Qualified Dividends and Capital Gain Tax Worksheet (line 10 of your Schedule D Tax Worksheet). Federal tax form 1040x If the result is more than zero, that amount is your capital gain excess. Federal tax form 1040x     No capital gain excess. Federal tax form 1040x If you do not have a capital gain excess, complete the rest of Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or the Schedule D Tax Worksheet according to the worksheet's instructions. Federal tax form 1040x Then complete lines 5 and 6 above. Federal tax form 1040x     Capital gain excess. Federal tax form 1040x If you have a capital gain excess, complete a second Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or Schedule D Tax Worksheet (whichever applies) as instructed above but in its entirety and with the following additional modifications. Federal tax form 1040x Then complete lines 5 and 6 above. Federal tax form 1040x     Make the modifications below only for purposes of filling out Worksheet 4-2 above. Federal tax form 1040x     a. Federal tax form 1040x Reduce (but not below zero) the amount you otherwise would enter on line 3 of your Worksheet 4-1, line 3 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 9 of your Schedule D Tax Worksheet by your capital gain excess. Federal tax form 1040x     b. Federal tax form 1040x Reduce (but not below zero) the amount you otherwise would enter on line 2 of your Worksheet 4-1, line 2 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 6 of your Schedule D Tax Worksheet by any of your capital gain excess not used in (a) above. Federal tax form 1040x     c. Federal tax form 1040x Reduce (but not below zero) the amount on your Schedule D (Form 1040), line 18, by your capital gain excess. Federal tax form 1040x     d. Federal tax form 1040x Include your capital gain excess as a loss on line 16 of your Unrecaptured Section 1250 Gain Worksheet in the 2013 Instructions for Schedule D (Form 1040). Federal tax form 1040x   Prev  Up  Next   Home   More Online Publications