File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

File State Taxes Online For Free

2010 Tax Act Online LoginHow Do I Complete A 1040x FormsFile Income Tax Online2009 Form 1040 EzFree File Taxes 2011Irs Forms 2010File 2011 Taxes Free Online2013 Tax Booklet 1040ezIrs Free File 2011Free 1040ez FormsVita Tax Locations 2012Free Turbo Tax Filing 2012How To File 1040xHow To File Taxes For FreeFile Free State Tax2010 1040 Tax FormReturn SoftwareEfile ExtensionFiling Back Taxes OnlineState Tax Forms FreeDownload Irs Form 1040xHow To File 1040 Ez Form OnlineFree Tax Filing For Low IncomeTax Forms For College Students1040x Amended Return FormWhere Can I File My 2010 Taxes Online For FreeHow To File An Amended Tax Return For 2012State Tax Forms Need Fill1040ez Amended FormWww Irs Gov 1040x FormAmended Tax Return 1098 TFree Tax Filing For StateHow To Amend 2012 Tax ReturnAmend Tax Return OnlineIncome Tax Forms 10401040Free State Tax Online FilingMi 1040xH&r Block Tax CutCan I File My State Taxes For Free

File State Taxes Online For Free

File state taxes online for free 4. File state taxes online for free   Reporting Gains and Losses Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Information Returns Schedule D and Form 8949Long and Short Term Net Gain or Loss Treatment of Capital Losses Capital Gains Tax Rates Form 4797Mark-to-market election. File state taxes online for free Introduction This chapter explains how to report capital gains and losses and ordinary gains and losses from sales, exchanges, and other dispositions of property. File state taxes online for free Although this discussion refers to Schedule D (Form 1040) and Form 8949, many of the rules discussed here also apply to taxpayers other than individuals. File state taxes online for free However, the rules for property held for personal use usually will not apply to taxpayers other than individuals. File state taxes online for free Topics - This chapter discusses: Information returns Schedule D (Form 1040) Form 4797 Form 8949 Useful Items - You may want to see: Publication 550 Investment Income and Expenses 537 Installment Sales Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 1099-B Proceeds From Broker and Barter Exchange Transactions 1099-S Proceeds From Real Estate Transactions 4684 Casualties and Thefts 4797 Sales of Business Property 6252 Installment Sale Income 6781 Gains and Losses from Section 1256 Contracts and Straddles 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5 for information about getting publications and forms. File state taxes online for free Information Returns If you sell or exchange certain assets, you should receive an information return showing the proceeds of the sale. File state taxes online for free This information is also provided to the IRS. File state taxes online for free Form 1099-B. File state taxes online for free   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or a substitute statement from the broker. File state taxes online for free Use the Form 1099-B or a substitute statement to complete Form 8949 and/or Schedule D. File state taxes online for free Whether or not you receive 1099-B, you must report all taxable sales of stock, bonds, commodities, etc. File state taxes online for free on Form 8949 and/or Schedule D, as applicable. File state taxes online for free For more information on figuring gains and losses from these transactions, see chapter 4 in Publication 550. File state taxes online for free For information on reporting the gains and losses, see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). File state taxes online for free Form 1099-S. File state taxes online for free   An information return must be provided on certain real estate transactions. File state taxes online for free Generally, the person responsible for closing the transaction (the “real estate reporting person”) must report on Form 1099-S sales or exchanges of the following types of property. File state taxes online for free Land (improved or unimproved), including air space. File state taxes online for free An inherently permanent structure, including any residential, commercial, or industrial building. File state taxes online for free A condominium unit and its related fixtures and common elements (including land). File state taxes online for free Stock in a cooperative housing corporation. File state taxes online for free If you sold or exchanged any of the above types of property, the “real estate reporting person” must give you a copy of Form 1099-S or a statement containing the same information as the Form 1099-S. File state taxes online for free The “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. File state taxes online for free   For more information see chapter 4 in Publication 550. File state taxes online for free Also, see the Instructions for Form 8949. File state taxes online for free Schedule D and Form 8949 Form 8949. File state taxes online for free   Individuals, corporations, and partnerships, use Form 8949 to report the following. File state taxes online for free    Sales or exchanges of capital assets, including stocks, bonds, etc. File state taxes online for free , and real estate (if not reported on another form or schedule such as Form 4684, 4797, 6252, 6781, or 8824). File state taxes online for free Include these transactions even if you did not receive a Form 1099-B or 1099-S. File state taxes online for free Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit. File state taxes online for free Nonbusiness bad debts. File state taxes online for free   Individuals, If you are filing a joint return, complete as many copies of Form 8949 as you need to report all of your and your spouse's transactions. File state taxes online for free You and your spouse may list your transactions on separate forms or you may combine them. File state taxes online for free However, you must include on your Schedule D the totals from all Forms 8949 for both you and your spouse. File state taxes online for free    Corporations and electing large partnerships also use Form 8949 to report their share of gain or loss from a partnership, S Corporation, estate or trust. File state taxes online for free   Business entities meeting certain criteria, may have an exception to some of the normal requirements for completing Form 8949. File state taxes online for free See the Instructions for Form 8949. File state taxes online for free Schedule D. File state taxes online for free    Use Schedule D (Form 1040) to figure the overall gain or loss from transactions reported on Form 8949, and to report certain transactions you do not have to report on Form 8949. File state taxes online for free Before completing Schedule D, you may have to complete other forms as shown below. File state taxes online for free    Complete all applicable lines of Form 8949 before completing lines 1b, 2, 3, 8b, 9, or 10 of your applicable Schedule D. File state taxes online for free Enter on Schedule D the combined totals from all your Forms 8949. File state taxes online for free For a sale, exchange, or involuntary conversion of business property, complete Form 4797 (discussed later). File state taxes online for free For a like-kind exchange, complete Form 8824. File state taxes online for free See Reporting the exchange under Like-Kind Exchanges in chapter 1. File state taxes online for free For an installment sale, complete Form 6252. File state taxes online for free See Publication 537. File state taxes online for free For an involuntary conversion due to casualty or theft, complete Form 4684. File state taxes online for free See Publication 547, Casualties, Disasters, and Thefts. File state taxes online for free For a disposition of an interest in, or property used in, an activity to which the at-risk rules apply, complete Form 6198, At-Risk Limitations. File state taxes online for free See Publication 925, Passive Activity and At-Risk Rules. File state taxes online for free For a disposition of an interest in, or property used in, a passive activity, complete Form 8582, Passive Activity Loss Limitations. File state taxes online for free See Publication 925. File state taxes online for free For gains and losses from section 1256 contracts and straddles, complete Form 6781. File state taxes online for free See Publication 550. File state taxes online for free Personal-use property. File state taxes online for free   Report gain on the sale or exchange of property held for personal use (such as your home) on Form 8949 and Schedule D (Form 1040), as applicable. File state taxes online for free Loss from the sale or exchange of property held for personal use is not deductible. File state taxes online for free But if you had a loss from the sale or exchange of real estate held for personal use for which you received a Form 1099-S, report the transaction on Form 8949 and Schedule D, even though the loss is not deductible. File state taxes online for free See the Instructions for Schedule D (Form 1040) and the Instructions for Form 8949 for information on how to report the transaction. File state taxes online for free Long and Short Term Where you report a capital gain or loss depends on how long you own the asset before you sell or exchange it. File state taxes online for free The time you own an asset before disposing of it is the holding period. File state taxes online for free If you received a Form 1099-B, (or substitute statement) box 1c may help you determine whether the gain or loss is short-term or long-term. File state taxes online for free If you hold a capital asset 1 year or less, the gain or loss from its disposition is short term. File state taxes online for free Report it in Part I of Form 8949 and/or Schedule D, as applicable. File state taxes online for free If you hold a capital asset longer than 1 year, the gain or loss from its disposition is long term. File state taxes online for free Report it in Part II of Form 8949 and/or Schedule D, as applicable. File state taxes online for free   Table 4-1. File state taxes online for free Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. File state taxes online for free . File state taxes online for free . File state taxes online for free  THEN you have a. File state taxes online for free . File state taxes online for free . File state taxes online for free 1 year or less, Short-term capital gain or  loss. File state taxes online for free More than 1 year, Long-term capital gain or  loss. File state taxes online for free These distinctions are essential to correctly arrive at your net capital gain or loss. File state taxes online for free Capital losses are allowed in full against capital gains plus up to $3,000 of ordinary income. File state taxes online for free See Capital Gains Tax Rates, later. File state taxes online for free Holding period. File state taxes online for free   To figure if you held property longer than 1 year, start counting on the day following the day you acquired the property. File state taxes online for free The day you disposed of the property is part of your holding period. File state taxes online for free Example. File state taxes online for free If you bought an asset on June 19, 2012, you should start counting on June 20, 2012. File state taxes online for free If you sold the asset on June 19, 2013, your holding period is not longer than 1 year, but if you sold it on June 20, 2013, your holding period is longer than 1 year. File state taxes online for free Patent property. File state taxes online for free   If you dispose of patent property, you generally are considered to have held the property longer than 1 year, no matter how long you actually held it. File state taxes online for free For more information, see Patents in chapter 2. File state taxes online for free Inherited property. File state taxes online for free   If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it. File state taxes online for free Installment sale. File state taxes online for free   The gain from an installment sale of an asset qualifying for long-term capital gain treatment in the year of sale continues to be long term in later tax years. File state taxes online for free If it is short term in the year of sale, it continues to be short term when payments are received in later tax years. File state taxes online for free    The date the installment payment is received determines the capital gains rate that should be applied not the date the asset was sold under an installment contract. File state taxes online for free Nontaxable exchange. File state taxes online for free   If you acquire an asset in exchange for another asset and your basis for the new asset is figured, in whole or in part, by using your basis in the old property, the holding period of the new property includes the holding period of the old property. File state taxes online for free That is, it begins on the same day as your holding period for the old property. File state taxes online for free Example. File state taxes online for free You bought machinery on December 4, 2012. File state taxes online for free On June 4, 2013, you traded this machinery for other machinery in a nontaxable exchange. File state taxes online for free On December 5, 2013, you sold the machinery you got in the exchange. File state taxes online for free Your holding period for this machinery began on December 5, 2012. File state taxes online for free Therefore, you held it longer than 1 year. File state taxes online for free Corporate liquidation. File state taxes online for free   The holding period for property you receive in a liquidation generally starts on the day after you receive it if gain or loss is recognized. File state taxes online for free Profit-sharing plan. File state taxes online for free   The holding period of common stock withdrawn from a qualified contributory profit-sharing plan begins on the day following the day the plan trustee delivered the stock to the transfer agent with instructions to reissue the stock in your name. File state taxes online for free Gift. File state taxes online for free   If you receive a gift of property and your basis in it is figured using the donor's basis, your holding period includes the donor's holding period. File state taxes online for free For more information on basis, see Publication 551, Basis of Assets. File state taxes online for free Real property. File state taxes online for free   To figure how long you held real property, start counting on the day after you received title to it or, if earlier, the day after you took possession of it and assumed the burdens and privileges of ownership. File state taxes online for free   However, taking possession of real property under an option agreement is not enough to start the holding period. File state taxes online for free The holding period cannot start until there is an actual contract of sale. File state taxes online for free The holding period of the seller cannot end before that time. File state taxes online for free Repossession. File state taxes online for free   If you sell real property but keep a security interest in it and then later repossess it, your holding period for a later sale includes the period you held the property before the original sale, as well as the period after the repossession. File state taxes online for free Your holding period does not include the time between the original sale and the repossession. File state taxes online for free That is, it does not include the period during which the first buyer held the property. File state taxes online for free Nonbusiness bad debts. File state taxes online for free   Nonbusiness bad debts are short-term capital losses. File state taxes online for free For information on nonbusiness bad debts, see chapter 4 of Publication 550. File state taxes online for free    Net Gain or Loss The totals for short-term capital gains and losses and the totals for long-term capital gains and losses must be figured separately. File state taxes online for free Net short-term capital gain or loss. File state taxes online for free   Combine your short-term capital gains and losses, including your share of short-term capital gains or losses from partnerships, S corporations, and fiduciaries and any short-term capital loss carryover. File state taxes online for free Do this by adding all your short-term capital gains. File state taxes online for free Then add all your short-term capital losses. File state taxes online for free Subtract the lesser total from the other. File state taxes online for free The result is your net short-term capital gain or loss. File state taxes online for free Net long-term capital gain or loss. File state taxes online for free   Follow the same steps to combine your long-term capital gains and losses. File state taxes online for free Include the following items. File state taxes online for free Net section 1231 gain from Part I, Form 4797, after any adjustment for nonrecaptured section 1231 losses from prior tax years. File state taxes online for free Capital gain distributions from regulated investment companies (mutual funds) and real estate investment trusts. File state taxes online for free Your share of long-term capital gains or losses from partnerships, S corporations, and fiduciaries. File state taxes online for free Any long-term capital loss carryover. File state taxes online for free The result from combining these items with other long-term capital gains and losses is your net long-term capital gain or loss. File state taxes online for free Net gain. File state taxes online for free   If the total of your capital gains is more than the total of your capital losses, the difference is taxable. File state taxes online for free Different tax rates may apply to the part that is a net capital gain. File state taxes online for free See Capital Gains Tax Rates, later. File state taxes online for free Net loss. File state taxes online for free   If the total of your capital losses is more than the total of your capital gains, the difference is deductible. File state taxes online for free But there are limits on how much loss you can deduct and when you can deduct it. File state taxes online for free See Treatment of Capital Losses, next. File state taxes online for free    Treatment of Capital Losses If your capital losses are more than your capital gains, you can deduct the difference as a capital loss deduction even if you do not have ordinary income to offset it. File state taxes online for free The yearly limit on the amount of the capital loss you can deduct is $3,000 ($1,500 if you are married and file a separate return). File state taxes online for free Table 4-2. File state taxes online for free Holding Period for Different Types of Acquisitions Type of acquisition: When your holding period starts: Stocks and bonds bought on a securities market Day after trading date you bought security. File state taxes online for free Ends on trading date you sold security. File state taxes online for free U. File state taxes online for free S. File state taxes online for free Treasury notes and bonds If bought at auction, day after notification of bid acceptance. File state taxes online for free If bought through subscription, day after subscription was submitted. File state taxes online for free Nontaxable exchanges Day after date you acquired old property. File state taxes online for free Gift If your basis is giver's adjusted basis, same day as giver's holding period began. File state taxes online for free If your basis is FMV, day after date of gift. File state taxes online for free Real property bought Generally, day after date you received title to the property. File state taxes online for free Real property repossessed Day after date you originally received title to the property, but does not include time between the original sale and date of repossession. File state taxes online for free Capital loss carryover. File state taxes online for free   Generally, you have a capital loss carryover if either of the following situations applies to you. File state taxes online for free Your net loss is more than the yearly limit. File state taxes online for free Your taxable income without your deduction for exemptions is less than zero. File state taxes online for free If either of these situations applies to you for 2013, see Capital Losses under Reporting Capital Gains and Losses in chapter 4 of Publication 550 to figure the amount you can carryover to 2014. File state taxes online for free Example. File state taxes online for free Bob and Gloria Sampson sold property in 2013. File state taxes online for free The sale resulted in a capital loss of $7,000. File state taxes online for free The Sampsons had no other capital transactions. File state taxes online for free On their joint 2013 return, the Sampsons deduct $3,000, the yearly limit. File state taxes online for free They had taxable income of $2,000. File state taxes online for free The unused part of the loss, $4,000 ($7,000 − $3,000), is carried over to 2014. File state taxes online for free If the Sampsons' capital loss had been $2,000, it would not have been more than the yearly limit. File state taxes online for free Their capital loss deduction would have been $2,000. File state taxes online for free They would have no carryover to 2014. File state taxes online for free Short-term and long-term losses. File state taxes online for free   When you carry over a loss, it retains its original character as either long term or short term. File state taxes online for free A short-term loss you carry over to the next tax year is added to short-term losses occurring in that year. File state taxes online for free A long-term loss you carry over to the next tax year is added to long-term losses occurring in that year. File state taxes online for free A long-term capital loss you carry over to the next year reduces that year's long-term gains before its short-term gains. File state taxes online for free   If you have both short-term and long-term losses, your short-term losses are used first against your allowable capital loss deduction. File state taxes online for free If, after using your short-term losses, you have not reached the limit on the capital loss deduction, use your long-term losses until you reach the limit. File state taxes online for free To figure your capital loss carryover from 2013 to 2014 use the Capital Loss Carryover Worksheet in the 2013 Instructions for Schedule D (Form 1040). File state taxes online for free Joint and separate returns. File state taxes online for free   On a joint return, the capital gains and losses of spouses are figured as the gains and losses of an individual. File state taxes online for free If you are married and filing a separate return, your yearly capital loss deduction is limited to $1,500. File state taxes online for free Neither you nor your spouse can deduct any part of the other's loss. File state taxes online for free   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. File state taxes online for free However, if you and your spouse once filed jointly and are now filing separately, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. File state taxes online for free Death of taxpayer. File state taxes online for free   Capital losses cannot be carried over after a taxpayer's death. File state taxes online for free They are deductible only on the final income tax return filed on the decedent's behalf. File state taxes online for free The yearly limit discussed earlier still applies in this situation. File state taxes online for free Even if the loss is greater than the limit, the decedent's estate cannot deduct the difference or carry it over to following years. File state taxes online for free Corporations. File state taxes online for free   A corporation can deduct capital losses only up to the amount of its capital gains. File state taxes online for free In other words, if a corporation has a net capital loss, it cannot be deducted in the current tax year. File state taxes online for free It must be carried to other tax years and deducted from capital gains occurring in those years. File state taxes online for free For more information, see Publication 542. File state taxes online for free Capital Gains Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. File state taxes online for free These lower rates are called the maximum capital gains rates. File state taxes online for free The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. File state taxes online for free For 2013, the maximum tax rates for individuals are 0%, 15%, 20%, 25%, and 28%. File state taxes online for free Also, individuals, use the Qualified Dividends and Capital Gain Worksheet in the Instructions for Form 1040, or the Schedule D Tax Computation Worksheet in the Instructions for Schedule D (Form 1040) (whichever applies) to figure your tax if you have qualified dividends or net capital gain. File state taxes online for free For more information, see chapter 4 of Publication 550. File state taxes online for free Also see the Instructions for Schedule D (Form 1040). File state taxes online for free Unrecaptured section 1250 gain. File state taxes online for free   Generally, this is the part of any long-term capital gain on section 1250 property (real property) that is due to depreciation. File state taxes online for free Unrecaptured section 1250 gain cannot be more than the net section 1231 gain or include any gain otherwise treated as ordinary income. File state taxes online for free Use the worksheet in the Schedule D instructions to figure your unrecaptured section 1250 gain. File state taxes online for free For more information about section 1250 property and net section 1231 gain, see chapter 3. File state taxes online for free Form 4797 Use Form 4797 to report: The sale or exchange of: Property used in your trade or business; Depreciable and amortizable property; Oil, gas, geothermal, or other mineral properties; and Section 126 property. File state taxes online for free The involuntary conversion (from other than casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit. File state taxes online for free The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business). File state taxes online for free The disposition of capital assets not reported on Schedule D. File state taxes online for free The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships (other than electing large partnerships) and S corporations. File state taxes online for free The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less. File state taxes online for free Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475(f). File state taxes online for free You can use Form 4797 with Form 1040, 1065, 1120, or 1120S. File state taxes online for free Section 1231 gains and losses. File state taxes online for free   Show any section 1231 gains and losses in Part I. File state taxes online for free Carry a net gain to Schedule D (Form 1040) as a long-term capital gain. File state taxes online for free Carry a net loss to Part II of Form 4797 as an ordinary loss. File state taxes online for free   If you had any nonrecaptured net section 1231 losses from the preceding 5 tax years, reduce your net gain by those losses and report the amount of the reduction as an ordinary gain in Part II. File state taxes online for free Report any remaining gain on Schedule D (Form 1040). File state taxes online for free See Section 1231 Gains and Losses in chapter 3. File state taxes online for free Ordinary gains and losses. File state taxes online for free   Show any ordinary gains and losses in Part II. File state taxes online for free This includes a net loss or a recapture of losses from prior years figured in Part I of Form 4797. File state taxes online for free It also includes ordinary gain figured in Part III. File state taxes online for free Mark-to-market election. File state taxes online for free   If you made a mark-to-market election, you should report all gains and losses from trading as ordinary gains and losses in Part II of Form 4797, instead of as capital gains and losses on Form 8949 and Schedule D (Form 1040). File state taxes online for free See the Instructions for Form 4797. File state taxes online for free Also see Special Rules for Traders in Securities, in chapter 4 of Publication 550. File state taxes online for free Ordinary income from depreciation. File state taxes online for free   Figure the ordinary income from depreciation on personal property and additional depreciation on real property (as discussed in chapter 3) in Part III. File state taxes online for free Carry the ordinary income to Part II of Form 4797 as an ordinary gain. File state taxes online for free Carry any remaining gain to Part I as section 1231 gain, unless it is from a casualty or theft. File state taxes online for free Carry any remaining gain from a casualty or theft to Form 4684. File state taxes online for free Prev  Up  Next   Home   More Online Publications
Español

Federal Retirement Thrift Investment Board

The Federal Retirement Thrift Investment Board administers the Thrift Savings Plan, a tax-deferred retirement account similar to a 401(k).

Contact the Agency or Department

Website: Federal Retirement Thrift Investment Board

Address: Thrift Savings Plan
PO Box 385021

Birmingham, AL 35238

Phone Number: (404) 233-4400 (for international callers who cannot call toll free)

Toll-free: (877) 968-3778

TTY: (877) 847-4385

The File State Taxes Online For Free

File state taxes online for free 4. File state taxes online for free   Retirement Savings Contributions Credit (Saver's Credit) Table of Contents What's New Introduction Full-time student. File state taxes online for free Adjusted gross income. File state taxes online for free Distributions received by spouse. File state taxes online for free Testing period. File state taxes online for free What's New Modified AGI limit for retirement savings contributions credit increased. File state taxes online for free  For 2013, you may be able to claim the retirement savings contributions credit if your modified AGI is not more than: $59,000 if your filing status is married filing jointly, $44,250 if your filing status is head of household, or $29,500 if your filing status is single, married filing separately, or qualifying widow(er). File state taxes online for free Introduction You may be able to take a tax credit if you make eligible contributions (defined later) to a qualified retirement plan, an eligible deferred compensation plan, or an individual retirement arrangement (IRA). File state taxes online for free You may be able to take a credit of up to $1,000 (up to $2,000 if filing jointly). File state taxes online for free This credit could reduce the federal income tax you pay dollar for dollar. File state taxes online for free    Can you claim the credit?   If you make eligible contributions to a qualified retirement plan, an eligible deferred compensation plan, or an IRA, you can claim the credit if all of the following apply. File state taxes online for free You were born before January 2, 1996. File state taxes online for free You are not a full-time student (explained next). File state taxes online for free No one else, such as your parent(s), claims an exemption for you on their tax return. File state taxes online for free Your adjusted gross income (defined below) is not more than: $59,000 if your filing status is married filing jointly, $44,250 if your filing status is head of household, or $29,500 if your filing status is single, married filing separately, or qualifying widow(er). File state taxes online for free Full-time student. File state taxes online for free   You are a full-time student if, during some part of each of 5 calendar months (not necessarily consecutive) during the calendar year, you are either: A full-time student at a school that has a regular teaching staff, course of study, and regularly enrolled body of students in attendance, or A student taking a full-time, on-farm training course given by either a school that has a regular teaching staff, course of study, and regularly enrolled body of students in attendance, or a state, county, or local government. File state taxes online for free You are a full-time student if you are enrolled for the number of hours or courses the school considers to be full time. File state taxes online for free Adjusted gross income. File state taxes online for free   This is generally the amount on line 38 of your 2013 Form 1040; line 22 of your 2013 Form 1040A; or line 37 of your 2013 Form 1040NR. File state taxes online for free However, you must add to that amount any exclusion or deduction claimed for the year for: Foreign earned income, Foreign housing costs, Income for bona fide residents of American Samoa, and Income from Puerto Rico. File state taxes online for free Eligible contributions. File state taxes online for free   These include: Contributions to a traditional or Roth IRA, Salary reduction contributions (elective deferrals, including amounts designated as after-tax Roth contributions) to: A 401(k) plan (including a SIMPLE 401(k)), A section 403(b) annuity, An eligible deferred compensation plan of a state or local government (a governmental 457 plan), A SIMPLE IRA plan, or A salary reduction SEP, and Contributions to a section 501(c)(18) plan. File state taxes online for free They also include voluntary after-tax employee contributions to a tax-qualified retirement plan or section 403(b) annuity. File state taxes online for free For purposes of the credit, an employee contribution will be voluntary as long as it is not required as a condition of employment. File state taxes online for free Reducing eligible contributions. File state taxes online for free   Reduce your eligible contributions (but not below zero) by the total distributions you received during the testing period (defined later) from any IRA, plan, or annuity included above under Eligible contributions. File state taxes online for free Also reduce your eligible contributions by any distribution from a Roth IRA that is not rolled over, even if the distribution is not taxable. File state taxes online for free   Do not reduce your eligible contributions by any of the following. File state taxes online for free The portion of any distribution which is not includible in income because it is a trustee-to-trustee transfer or a rollover distribution. File state taxes online for free Distributions that are taxable as the result of an in-plan rollover to your designated Roth account. File state taxes online for free Any distribution that is a return of a contribution to an IRA (including a Roth IRA) made during the year for which you claim the credit if: The distribution is made before the due date (including extensions) of your tax return for that year, You do not take a deduction for the contribution, and The distribution includes any income attributable to the contribution. File state taxes online for free Loans from a qualified employer plan treated as a distribution. File state taxes online for free Distributions of excess contributions or deferrals (and income attributable to excess contributions and deferrals). File state taxes online for free Distributions of dividends paid on stock held by an employee stock ownership plan under section 404(k). File state taxes online for free Distributions from an eligible retirement plan that are converted or rolled over to a Roth IRA. File state taxes online for free Distributions from a military retirement plan. File state taxes online for free Distributions from an inherited IRA by a nonspousal beneficiary. File state taxes online for free Distributions received by spouse. File state taxes online for free   Any distributions your spouse receives are treated as received by you if you file a joint return with your spouse both for the year of the distribution and for the year for which you claim the credit. File state taxes online for free Testing period. File state taxes online for free   The testing period consists of the year for which you claim the credit, the period after the end of that year and before the due date (including extensions) for filing your return for that year, and the 2 tax years before that year. File state taxes online for free Example. File state taxes online for free You and your spouse filed joint returns in 2011 and 2012, and plan to do so in 2013 and 2014. File state taxes online for free You received a taxable distribution from a qualified plan in 2011 and a taxable distribution from an eligible deferred compensation plan in 2012. File state taxes online for free Your spouse received taxable distributions from a Roth IRA in 2013 and tax-free distributions from a Roth IRA in 2014 before April 15. File state taxes online for free You made eligible contributions to an IRA in 2013 and you otherwise qualify for this credit. File state taxes online for free You must reduce the amount of your qualifying contributions in 2013 by the total of the distributions you received in 2011, 2012, 2013, and 2014. File state taxes online for free Maximum eligible contributions. File state taxes online for free   After your contributions are reduced, the maximum annual contribution on which you can base the credit is $2,000 per person. File state taxes online for free Effect on other credits. File state taxes online for free   The amount of this credit will not change the amount of your refundable tax credits. File state taxes online for free A refundable tax credit, such as the earned income credit or the refundable amount of your child tax credit, is an amount that you would receive as a refund even if you did not otherwise owe any taxes. File state taxes online for free Maximum credit. File state taxes online for free   This is a nonrefundable credit. File state taxes online for free The amount of the credit in any year cannot be more than the amount of tax that you would otherwise pay (not counting any refundable credits) in any year. File state taxes online for free If your tax liability is reduced to zero because of other nonrefundable credits, such as the credit for child and dependent care expenses, then you will not be entitled to this credit. File state taxes online for free How to figure and report the credit. File state taxes online for free   The amount of the credit you can get is based on the contributions you make and your credit rate. File state taxes online for free Your credit rate can be as low as 10% or as high as 50%. File state taxes online for free Your credit rate depends on your income and your filing status. File state taxes online for free See Form 8880 to determine your credit rate. File state taxes online for free   The maximum contribution taken into account is $2,000 per person. File state taxes online for free On a joint return, up to $2,000 is taken into account for each spouse. File state taxes online for free   Figure the credit on Form 8880. File state taxes online for free Report the credit on line 50 of your Form 1040; line 32 of your Form 1040A; or line 47 of your Form 1040NR and attach Form 8880 to your return. File state taxes online for free Prev  Up  Next   Home   More Online Publications