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Fill 1040x Form E Taxes

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Fill 1040x Form E Taxes

Fill 1040x form e taxes Publication 524 - Main Content Table of Contents Are You Eligible for the Credit?Qualified Individual Income Limits Credit Figured for You Figuring the Credit YourselfStep 1. Fill 1040x form e taxes Determine Initial Amount Step 2. Fill 1040x form e taxes Total Certain Nontaxable Pensions and Benefits Step 3. Fill 1040x form e taxes Determine Excess Adjusted Gross Income Step 4. Fill 1040x form e taxes Determine the Total of Steps 2 and 3 Step 5. Fill 1040x form e taxes Determine Your Credit Examples How To Get Tax Help Are You Eligible for the Credit? You can take the credit for the elderly or the disabled if you meet both of the following requirements. Fill 1040x form e taxes You are a qualified individual. Fill 1040x form e taxes Your income is not more than certain limits. Fill 1040x form e taxes You can use Figure A and Table 1 as guides to see if you are eligible for the credit. Fill 1040x form e taxes Use Figure A first to see if you are a qualified individual. Fill 1040x form e taxes If you are, go to Table 1 to make sure your income is not too high to take the credit. Fill 1040x form e taxes You can take the credit only if you file Form 1040 or Form 1040A. Fill 1040x form e taxes You cannot take the credit if you file Form 1040EZ or Form 1040NR. Fill 1040x form e taxes Qualified Individual You are a qualified individual for this credit if you are a U. Fill 1040x form e taxes S. Fill 1040x form e taxes citizen or resident alien, and either of the following applies. Fill 1040x form e taxes You were age 65 or older at the end of 2013. Fill 1040x form e taxes You were under age 65 at the end of 2013 and all three of the following statements are true. Fill 1040x form e taxes You retired on permanent and total disability (explained later). Fill 1040x form e taxes You received taxable disability income for 2013. Fill 1040x form e taxes On January 1, 2013, you had not reached mandatory retirement age (defined later under Disability income ). Fill 1040x form e taxes Age 65. Fill 1040x form e taxes   You are considered to be age 65 on the day before your 65th birthday. Fill 1040x form e taxes As a result, if you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. Fill 1040x form e taxes U. Fill 1040x form e taxes S. Fill 1040x form e taxes Citizen or Resident Alien You must be a U. Fill 1040x form e taxes S. Fill 1040x form e taxes citizen or resident alien (or be treated as a resident alien) to take the credit. Fill 1040x form e taxes Generally, you cannot take the credit if you were a nonresident alien at any time during the tax year. Fill 1040x form e taxes Exceptions. Fill 1040x form e taxes   You may be able to take the credit if you are a nonresident alien who is married to a U. Fill 1040x form e taxes S. Fill 1040x form e taxes citizen or resident alien at the end of the tax year and you and your spouse choose to treat you as a U. Fill 1040x form e taxes S. Fill 1040x form e taxes resident alien. Fill 1040x form e taxes If you make that choice, both you and your spouse are taxed on your worldwide incomes. Fill 1040x form e taxes   If you were a nonresident alien at the beginning of the year and a resident alien at the end of the year, and you were married to a U. Fill 1040x form e taxes S. Fill 1040x form e taxes citizen or resident alien at the end of the year, you may be able to choose to be treated as a U. Fill 1040x form e taxes S. Fill 1040x form e taxes resident alien for the entire year. Fill 1040x form e taxes In that case, you may be allowed to take the credit. Fill 1040x form e taxes   For information on these choices, see chapter 1 of Publication 519, U. Fill 1040x form e taxes S. Fill 1040x form e taxes Tax Guide for Aliens. Fill 1040x form e taxes Married Persons Generally, if you are married at the end of the tax year, you and your spouse must file a joint return to take the credit. Fill 1040x form e taxes However, if you and your spouse did not live in the same household at any time during the tax year, you can file either a joint return or separate returns and still take the credit. Fill 1040x form e taxes Head of household. Fill 1040x form e taxes   You can file as head of household and qualify to take the credit, even if your spouse lived with you during the first 6 months of the year, if you meet all the following tests. Fill 1040x form e taxes You file a separate return. Fill 1040x form e taxes You paid more than half the cost of keeping up your home during the tax year. Fill 1040x form e taxes Your spouse did not live in your home at any time during the last 6 months of the tax year and the absence was not temporary. Fill 1040x form e taxes (See Temporary absences under Head of Household in Publication 501. Fill 1040x form e taxes ) Your home was the main home of your child, stepchild, or an eligible foster child for more than half the year. Fill 1040x form e taxes An eligible foster child is a child placed with you by an authorized placement agency or by judgment, decree, or other order of any court of competent jurisdiction. Fill 1040x form e taxes You can claim an exemption for that child, or you cannot claim the exemption only because the noncustodial parent can claim the child using the rules for children of divorced or separated parents. Fill 1040x form e taxes For more information, see Publication 501, Exemptions, Standard Deduction, and Filing Information. Fill 1040x form e taxes Figure A. Fill 1040x form e taxes Are You a Qualified Individual? Please click here for the text description of the image. Fill 1040x form e taxes figure a Under Age 65 If you are under age 65 at the end of 2013, you can qualify for the credit only if you are retired on permanent and total disability (discussed next) and have taxable disability income (discussed later under Disability income ). Fill 1040x form e taxes You are retired on permanent and total disability if: You were permanently and totally disabled when you retired, and You retired on disability before the close of the tax year. Fill 1040x form e taxes Even if you do not retire formally, you may be considered retired on disability when you have stopped working because of your disability. Fill 1040x form e taxes If you retired on disability before 1977, and were not permanently and totally disabled at the time, you can qualify for the credit if you were permanently and totally disabled on January 1, 1976, or January 1, 1977. Fill 1040x form e taxes You are considered to be under age 65 at the end of 2013 if you were born after January 1, 1949. Fill 1040x form e taxes Permanent and total disability. Fill 1040x form e taxes    You are permanently and totally disabled if you cannot engage in any substantial gainful activity because of your physical or mental condition. Fill 1040x form e taxes A qualified physician must certify that the condition has lasted or can be expected to last continuously for 12 months or more, or that the condition can be expected to result in death. Fill 1040x form e taxes See Physician's statement , later. Fill 1040x form e taxes Substantial gainful activity. Fill 1040x form e taxes   Substantial gainful activity is the performance of significant duties over a reasonable period of time while working for pay or profit, or in work generally done for pay or profit. Fill 1040x form e taxes Full-time work (or part-time work done at your employer's convenience) in a competitive work situation for at least the minimum wage conclusively shows that you are able to engage in substantial gainful activity. Fill 1040x form e taxes   Substantial gainful activity is not work you do to take care of yourself or your home. Fill 1040x form e taxes It is not unpaid work on hobbies, institutional therapy or training, school attendance, clubs, social programs, and similar activities. Fill 1040x form e taxes However, doing this kind of work may show that you are able to engage in substantial gainful activity. Fill 1040x form e taxes    The fact that you have not worked for some time is not, of itself, conclusive evidence that you cannot engage in substantial gainful activity. Fill 1040x form e taxes   The following examples illustrate the tests of substantial gainful activity. Fill 1040x form e taxes Example 1. Fill 1040x form e taxes Trisha, a sales clerk, retired on disability. Fill 1040x form e taxes She is 53 years old and now works as a full-time babysitter for the minimum wage. Fill 1040x form e taxes Even though Trisha is doing different work, she is able to do the duties of her new job in a full-time competitive work situation for the minimum wage. Fill 1040x form e taxes She cannot take the credit because she is able to engage in substantial gainful activity. Fill 1040x form e taxes Example 2. Fill 1040x form e taxes Tom, a bookkeeper, retired on disability. Fill 1040x form e taxes He is 59 years old and now drives a truck for a charitable organization. Fill 1040x form e taxes He sets his own hours and is not paid. Fill 1040x form e taxes Duties of this nature generally are performed for pay or profit. Fill 1040x form e taxes Some weeks he works 10 hours, and some weeks he works 40 hours. Fill 1040x form e taxes Over the year he averages 20 hours a week. Fill 1040x form e taxes The kind of work and his average hours a week conclusively show that Tom is able to engage in substantial gainful activity. Fill 1040x form e taxes This is true even though Tom is not paid and he sets his own hours. Fill 1040x form e taxes He cannot take the credit. Fill 1040x form e taxes Example 3. Fill 1040x form e taxes John, who retired on disability, took a job with a former employer on a trial basis. Fill 1040x form e taxes The purpose of the job was to see if John could do the work. Fill 1040x form e taxes The trial period lasted for 6 months during which John was paid the minimum wage. Fill 1040x form e taxes Because of John's disability, he was assigned only light duties of a nonproductive “make-work” nature. Fill 1040x form e taxes The activity was gainful because John was paid at least the minimum wage. Fill 1040x form e taxes But the activity was not substantial because his duties were nonproductive. Fill 1040x form e taxes These facts do not, by themselves, show that John is able to engage in substantial gainful activity. Fill 1040x form e taxes Example 4. Fill 1040x form e taxes Joan, who retired on disability from a job as a bookkeeper, lives with her sister who manages several motel units. Fill 1040x form e taxes Joan helps her sister for 1 or 2 hours a day by performing duties such as washing dishes, answering phones, registering guests, and bookkeeping. Fill 1040x form e taxes Joan can select the time of day when she feels most fit to work. Fill 1040x form e taxes Work of this nature, performed off and on during the day at Joan's convenience, is not activity of a “substantial and gainful” nature even if she is paid for the work. Fill 1040x form e taxes The performance of these duties does not, of itself, show that Joan is able to engage in substantial gainful activity. Fill 1040x form e taxes Sheltered employment. Fill 1040x form e taxes   Certain work offered at qualified locations to physically or mentally impaired persons is considered sheltered employment. Fill 1040x form e taxes These qualified locations are in sheltered workshops, hospitals and similar institutions, homebound programs, and Department of Veterans Affairs (VA) sponsored homes. Fill 1040x form e taxes   Compared to commercial employment, pay is lower for sheltered employment. Fill 1040x form e taxes Therefore, one usually does not look for sheltered employment if he or she can get other employment. Fill 1040x form e taxes The fact that one has accepted sheltered employment is not proof of the person's ability to engage in substantial gainful activity. Fill 1040x form e taxes Physician's statement. Fill 1040x form e taxes   If you are under age 65, you must have your physician complete a statement certifying that you were permanently and totally disabled on the date you retired. Fill 1040x form e taxes You can use the statement in the Instructions for Schedule R. Fill 1040x form e taxes   You do not have to file this statement with your Form 1040 or Form 1040A, but you must keep it for your records. Fill 1040x form e taxes Veterans. Fill 1040x form e taxes    If the Department of Veterans Affairs (VA) certifies that you are permanently and totally disabled, you can substitute VA Form 21-0172, Certification of Permanent and Total Disability, for the physician's statement you are required to keep. Fill 1040x form e taxes VA Form 21-0172 must be signed by a person authorized by the VA to do so. Fill 1040x form e taxes You can get this form from your local VA regional office. Fill 1040x form e taxes Physician's statement obtained in earlier year. Fill 1040x form e taxes   If you got a physician's statement in an earlier year and, due to your continued disabled condition, you were unable to engage in any substantial gainful activity during 2013, you may not need to get another physician's statement for 2013. Fill 1040x form e taxes For a detailed explanation of the conditions you must meet, see the instructions for Schedule R, Part II. Fill 1040x form e taxes If you meet the required conditions, check the box on your Schedule R, Part II, line 2. Fill 1040x form e taxes   If you checked box 4, 5, or 6 in Part I of Schedule R, enter in the space above the box on line 2 in Part II the first name(s) of the spouse(s) for whom the box is checked. Fill 1040x form e taxes Disability income. Fill 1040x form e taxes   If you are under age 65, you must also have taxable disability income to qualify for the credit. Fill 1040x form e taxes Disability income must meet both of the following requirements. Fill 1040x form e taxes It must be paid under your employer's accident or health plan or pension plan. Fill 1040x form e taxes It must be included in your income as wages (or payments instead of wages) for the time you are absent from work because of permanent and total disability. Fill 1040x form e taxes Payments that are not disability income. Fill 1040x form e taxes    Any payment you receive from a plan that does not provide for disability retirement is not disability income. Fill 1040x form e taxes Any lump-sum payment for accrued annual leave that you receive when you retire on disability is a salary payment and is not disability income. Fill 1040x form e taxes    For purposes of the credit for the elderly or the disabled, disability income does not include amounts you receive after you reach mandatory retirement age. Fill 1040x form e taxes Mandatory retirement age is the age set by your employer at which you would have had to retire, had you not become disabled. Fill 1040x form e taxes Income Limits To determine if you can claim the credit, you must consider two income limits. Fill 1040x form e taxes The first limit is the amount of your adjusted gross income (AGI). Fill 1040x form e taxes The second limit is the amount of nontaxable social security and other nontaxable pensions, annuities, or disability income you received. Fill 1040x form e taxes The limits are shown in Table 1. Fill 1040x form e taxes If your AGI and your nontaxable pensions, annuities, or disability income are less than the income limits, you may be able to claim the credit. Fill 1040x form e taxes See Figuring the Credit Yourself , later. Fill 1040x form e taxes Table 1. Fill 1040x form e taxes Income Limits IF your filing status is THEN, even if you qualify (see Figure A), you CANNOT take the credit if   Your adjusted gross income (AGI)* is equal to or more than. Fill 1040x form e taxes . Fill 1040x form e taxes . Fill 1040x form e taxes     OR the total of your nontaxable social security and other nontaxable pension(s), annuities, or disability income is equal to or more than. Fill 1040x form e taxes . Fill 1040x form e taxes . Fill 1040x form e taxes   single, head of household, or qualifying widow(er) with dependent child   $17,500     $5,000   married filing jointly and only one spouse qualifies in Figure A   $20,000     $5,000   married filing jointly and both spouses qualify in Figure A   $25,000     $7,500   married filing separately and you lived apart from your spouse for all of 2013   $12,500     $3,750   * AGI is the amount on Form 1040A, line 22, or Form 1040, line 38. Fill 1040x form e taxes If your AGI or your nontaxable pensions, annuities, or disability income are equal to or more than the income limits, you cannot take the credit. Fill 1040x form e taxes Credit Figured for You You can figure the credit yourself, or the Internal Revenue Service (IRS) will figure it for you. Fill 1040x form e taxes See Figuring the Credit Yourself , next. Fill 1040x form e taxes If you can take the credit and you want the IRS to figure the credit for you, attach Schedule R to your return. Fill 1040x form e taxes Check the appropriate box in Part I of Schedule R and fill in Part II and lines 11, 13a, and 13b of Part III, if they apply to you. Fill 1040x form e taxes If you file Form 1040A, enter “CFE” in the space to the left of Form 1040A, line 30. Fill 1040x form e taxes If you file Form 1040, check box c on Form 1040, line 53, and enter “CFE” on the line next to that box. Fill 1040x form e taxes Attach Schedule R to your return. Fill 1040x form e taxes Table 2. Fill 1040x form e taxes Initial Amounts IF your filing status is. Fill 1040x form e taxes . Fill 1040x form e taxes . Fill 1040x form e taxes   THEN enter on line 10 of Schedule R. Fill 1040x form e taxes . Fill 1040x form e taxes . Fill 1040x form e taxes single,head of household, or qualifying widow(er) with dependent child and, by the end of 2013, you were       • 65 or older $5,000   • under 65 and retired on permanent and total disability1 $5,000 married filing a joint return and by the end of 2013       • both of you were 65 or older $7,500   • both of you were under 65 and one of you retired on permanent and total disability1 $5,000   • both of you were under 65 and both of you retired on permanent and total disability2 $7,500   • one of you was 65 or older, and the other was under 65 and retired on permanent  and total disability3 $7,500   • one of you was 65 or older, and the other was under 65 and not retired on permanent  and total disability $5,000 married filing a separate return and you did not live with your spouse at any time during the year and, by the end of 2013, you were       • 65 or older $3,750   • under 65 and retired on permanent and total disability1 $3,750   1 Amount cannot be more than the taxable disability income. Fill 1040x form e taxes     2 Amount cannot be more than your combined taxable disability income. Fill 1040x form e taxes     3 Amount is $5,000 plus the taxable disability income of the spouse under age 65, but not more than $7,500. Fill 1040x form e taxes   Figuring the Credit Yourself If you figure the credit yourself, fill out the front of Schedule R. Fill 1040x form e taxes Next, fill out Schedule R, Part III. Fill 1040x form e taxes If you file Form 1040A, enter the amount from Schedule R, line 22 on line 30. Fill 1040x form e taxes If you file Form 1040, include the amount from Schedule R, line 22 on line 53, check box c, and enter “Sch R” on the line next to that box. Fill 1040x form e taxes There are five steps in Part III to determine the amount of your credit. Fill 1040x form e taxes Determine your initial amount (lines 10–12). Fill 1040x form e taxes Determine the total of any nontaxable social security and certain other nontaxable pensions, annuities, and disability benefits you received (lines 13a, 13b, and 13c). Fill 1040x form e taxes Determine your excess adjusted gross income (lines 14–17). Fill 1040x form e taxes Determine the total of steps 2 and 3 (line 18). Fill 1040x form e taxes Determine your credit (lines 19–22). Fill 1040x form e taxes These steps are discussed in more detail next. Fill 1040x form e taxes Step 1. Fill 1040x form e taxes Determine Initial Amount To figure the credit, you must first determine your initial amount using lines 10 through 12. Fill 1040x form e taxes See Table 2. Fill 1040x form e taxes Your initial amount is on line 12. Fill 1040x form e taxes Initial amounts for persons under age 65. Fill 1040x form e taxes   If you are a qualified individual under age 65, your initial amount cannot be more than your taxable disability income. Fill 1040x form e taxes Special rules for joint returns. Fill 1040x form e taxes   If you are a qualified individual under age 65, and your spouse is also a qualified individual, your initial amount is your taxable disability income plus $5,000. Fill 1040x form e taxes   If you are a qualified individual, and both you and your spouse are under age 65, your initial amount cannot be more than your combined taxable disability income. Fill 1040x form e taxes Step 2. Fill 1040x form e taxes Total Certain Nontaxable Pensions and Benefits Step 2 is to figure the total amount of nontaxable social security and certain other nontaxable payments you received during the year. Fill 1040x form e taxes You must reduce your initial amount by these payments. Fill 1040x form e taxes Enter these nontaxable payments on lines 13a or 13b and total them on line 13c. Fill 1040x form e taxes If you are married filing jointly, you must enter the combined amount of nontaxable payments both you and your spouse received. Fill 1040x form e taxes Worksheets are provided in the instructions for Forms 1040 and 1040A to help you determine if any of your social security benefits (or equivalent railroad retirement benefits) are taxable. Fill 1040x form e taxes Include the following nontaxable payments in the amounts you enter on lines 13a and 13b. Fill 1040x form e taxes Nontaxable social security payments. Fill 1040x form e taxes This is the nontaxable part of the benefits shown in box 5 of Form SSA-1099, Social Security Benefit Statement, before deducting any amounts withheld to pay premiums on supplementary Medicare insurance, and before any reduction because of benefits received under workers' compensation. Fill 1040x form e taxes (Do not include a lump-sum death benefit payment you may receive as a surviving spouse, or a surviving child's insurance benefit payments you may receive as a guardian. Fill 1040x form e taxes ) Nontaxable railroad retirement pension payments treated as social security. Fill 1040x form e taxes This is the nontaxable part of the benefits shown in box 5 of Form RRB-1099, Payments by the Railroad Retirement Board. Fill 1040x form e taxes Nontaxable pension or annuity payments or disability benefits that are paid under a law administered by the Department of Veterans Affairs (VA). Fill 1040x form e taxes (Do not include amounts received as a pension, annuity, or similar allowance for personal injuries or sickness resulting from active service in the armed forces of any country or in the National Oceanic and Atmospheric Administration or the Public Health Service, or as a disability annuity under section 808 of the Foreign Service Act of 1980. Fill 1040x form e taxes ) Pension or annuity payments or disability benefits that are excluded from income under any provision of federal law other than the Internal Revenue Code. Fill 1040x form e taxes (Do not include amounts that are a return of your cost of a pension or annuity. Fill 1040x form e taxes These amounts do not reduce your initial amount. Fill 1040x form e taxes ) You should be sure to take into account all of the nontaxable amounts you receive. Fill 1040x form e taxes These amounts are verified by the IRS through information supplied by other government agencies. Fill 1040x form e taxes Step 3. Fill 1040x form e taxes Determine Excess Adjusted Gross Income You also must reduce your initial amount by your excess adjusted gross income. Fill 1040x form e taxes Figure your excess adjusted gross income on lines 14–17. Fill 1040x form e taxes You figure your excess adjusted gross income as follows. Fill 1040x form e taxes Subtract from your adjusted gross income (Form 1040A, line 22 or Form 1040, line 38) the amount shown for your filing status. Fill 1040x form e taxes $7,500 if you are single, a head of household, or a qualifying widow(er) with dependent child, $10,000 if you are married filing jointly, or $5,000 if you are married filing separately and you and your spouse did not live in the same household at any time during the tax year. Fill 1040x form e taxes Divide the result of (1) by 2. Fill 1040x form e taxes Step 4. Fill 1040x form e taxes Determine the Total of Steps 2 and 3 To determine if you can take the credit, you must add (on line 18) the amounts you figured in Step 2 (line 13c) and Step 3 (line 17). Fill 1040x form e taxes Step 5. Fill 1040x form e taxes Determine Your Credit Subtract the amount determined in Step 4 (line 18) from the amount determined in Step 1 (line 12), and multiply the result by 15% (. Fill 1040x form e taxes 15). Fill 1040x form e taxes In certain cases, the amount of your credit may be limited. Fill 1040x form e taxes See Limit on credit , later. Fill 1040x form e taxes Example. Fill 1040x form e taxes You are 66 years old and your spouse is 64. Fill 1040x form e taxes Your spouse is not disabled. Fill 1040x form e taxes You file a joint return on Form 1040. Fill 1040x form e taxes Your adjusted gross income is $14,630. Fill 1040x form e taxes Together you received $3,200 from social security, which was nontaxable. Fill 1040x form e taxes You figure the credit as follows: Example applying the 5 step process Amount (Line references (shown in parentheses) are to the Schedule R)      1. Fill 1040x form e taxes Initial amount (line 12) $5,000 2. Fill 1040x form e taxes Total nontaxable social security  and other nontaxable  pensions (line 13c) $3,200   3. Fill 1040x form e taxes Excess adjusted gross income  ($14,630–$10,000) ÷ 2 (line 17) 2,315   4. Fill 1040x form e taxes Add (2) and (3) (line 18) 5,515 5. Fill 1040x form e taxes Subtract (4) from (1) (line 12 – line 18 = line 19) (Do not enter less than -0-) $ -0- You cannot take the credit because your nontaxable social security plus your excess adjusted gross income is more than your initial amount. Fill 1040x form e taxes Limit on credit. Fill 1040x form e taxes   The amount of credit you can claim is generally limited to the amount of your tax. Fill 1040x form e taxes Use the Credit Limit Worksheet in the Instructions for Schedule R to determine if your credit is limited. Fill 1040x form e taxes Examples The following examples illustrate the credit for the elderly or the disabled. Fill 1040x form e taxes The initial amounts are taken from Table 2, earlier. Fill 1040x form e taxes Example 1. Fill 1040x form e taxes James Davis is 58 years old, single, and files Form 1040A. Fill 1040x form e taxes In 2011 he retired on permanent and total disability, and he is still permanently and totally disabled. Fill 1040x form e taxes He got the required physician's statement in 2011 and kept it with his tax records. Fill 1040x form e taxes His physician signed on line B of the statement. Fill 1040x form e taxes This year James checks the box in Schedule R, Part II. Fill 1040x form e taxes He does not need to get another statement for 2013. Fill 1040x form e taxes He received the following income for the year: Nontaxable social security $1,500 Interest (taxable) 100 Taxable disability pension 11,400       James' adjusted gross income is $11,500 ($11,400 + $100). Fill 1040x form e taxes He figures the credit on Schedule R as follows: 1. Fill 1040x form e taxes Initial amount   $5,000 2. Fill 1040x form e taxes Taxable disability pension   11,400 3. Fill 1040x form e taxes Smaller of line 1 or line 2   5,000 4. Fill 1040x form e taxes Nontaxable social security  benefits $1,500     5. Fill 1040x form e taxes Excess adjusted gross income  ($11,500 − $7,500) ÷ 2 2,000     6. Fill 1040x form e taxes Add lines 4 and 5   3,500 7. Fill 1040x form e taxes Subtract line 6 from line 3  (Do not enter less than (-0-))   1,500 8. Fill 1040x form e taxes Multiply line 7 by 15% (. Fill 1040x form e taxes 15)   225 9. Fill 1040x form e taxes Enter the amount from the  Credit Limit Worksheet in the  Instructions for Schedule R, line 21   151 10. Fill 1040x form e taxes Credit (Enter the smaller of  line 8 or line 9)   $ 151 He enters $151 on line 30 of Form 1040A. Fill 1040x form e taxes The Schedule R for James Davis is not shown. Fill 1040x form e taxes Example 2. Fill 1040x form e taxes William White is 53. Fill 1040x form e taxes His wife Helen is 49. Fill 1040x form e taxes William had a stroke 3 years ago and retired on permanent and total disability. Fill 1040x form e taxes He is still permanently and totally disabled because of the stroke. Fill 1040x form e taxes In November, Helen was injured in an accident at work and retired on permanent and total disability. Fill 1040x form e taxes William received nontaxable social security disability benefits of $2,000 during the year and a taxable disability pension of $6,200. Fill 1040x form e taxes Helen earned $12,500 from her job and received a taxable disability pension of $1,700. Fill 1040x form e taxes Their joint return on Form 1040 shows adjusted gross income of $20,400 ($6,200 + $12,500 + $1,700). Fill 1040x form e taxes They do not itemize deductions. Fill 1040x form e taxes They do not have any amounts that would increase their standard deduction. Fill 1040x form e taxes Helen's doctor completed the physician's statement in the Instructions for Schedule R. Fill 1040x form e taxes Helen is not required to include the statement with their return, but she must keep it for her records. Fill 1040x form e taxes William got a physician's statement for the year he had the stroke. Fill 1040x form e taxes His doctor had signed on line B of that physician's statement to certify that William was permanently and totally disabled. Fill 1040x form e taxes William has kept the physician's statement with his records. Fill 1040x form e taxes He checks the box on Schedule R, Part II and writes his first name in the space above the box on line 2. Fill 1040x form e taxes William and Helen use Schedule R to figure their $41 credit for the elderly or the disabled. Fill 1040x form e taxes They attach Schedule R to their Form 1040 and enter $41 on line 53. Fill 1040x form e taxes They check box c on line 53 and enter “Sch R” on the line next to that box. Fill 1040x form e taxes See their filled-in Schedule R and Helen's filled-in physician's statement, later. Fill 1040x form e taxes Instructions for Physician's Statement     Taxpayer Physician If you retired after 1976, enter the date you retired in the space provided on the statement below. Fill 1040x form e taxes A person is permanently and totally disabled if both of the following apply:   1. Fill 1040x form e taxes He or she cannot engage in any substantial gainful activity because of a physical or mental condition. Fill 1040x form e taxes   2. Fill 1040x form e taxes A physician determines that the disability has lasted or can be expected to last continuously for at least a year or can lead to death. Fill 1040x form e taxes Physician's Statement     I certify that Helen A. Fill 1040x form e taxes White Name of disabled person was permanently and totally disabled on January 1, 1976, or January 1, 1977, or was permanently and totally disabled on the date he or she retired. Fill 1040x form e taxes If retired after 1976, enter the date retired ▶ November 1, 2013   Physician: Sign your name on either A or B below. Fill 1040x form e taxes AThe disability has lasted or can be expected to last continuously for at least a year     Physician's signatureDate BThere is no reasonable probability that the disabled condition will ever improve Ayden D. Fill 1040x form e taxes Doctor 2/8/14   Physician's signatureDate Physician's name Physician's address Ayden D. Fill 1040x form e taxes Doctor 1900 Green St. Fill 1040x form e taxes , Hometown, MD 20000         This image is too large to be displayed in the current screen. Fill 1040x form e taxes Please click the link to view the image. Fill 1040x form e taxes Page 1 of Schedule R for the Whites This image is too large to be displayed in the current screen. Fill 1040x form e taxes Please click the link to view the image. Fill 1040x form e taxes Page 2 of Schedule R for the Whites How To Get Tax Help Go online, use a smart phone, call or walk in to an office near you. Fill 1040x form e taxes Whether it's help with a tax issue, preparing your tax return or picking up a free publication or form, get the help you need the way you want it. Fill 1040x form e taxes Free help with your tax return. Fill 1040x form e taxes   Free help in preparing your return is available nationwide from IRS-certified volunteers. Fill 1040x form e taxes The Volunteer Income Tax Assistance (VITA) program is designed to help low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers. Fill 1040x form e taxes The Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. Fill 1040x form e taxes Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Fill 1040x form e taxes Some VITA and TCE sites provide taxpayers the opportunity to prepare their return with the assistance of an IRS-certified volunteer. Fill 1040x form e taxes To find the nearest VITA or TCE site, visit IRS. Fill 1040x form e taxes gov or call 1-800-906-9887. Fill 1040x form e taxes   As part of the TCE program, AARP offers the Tax-Aide counseling program. Fill 1040x form e taxes To find the nearest AARP Tax-Aide site, visit AARP's website at www. Fill 1040x form e taxes aarp. Fill 1040x form e taxes org/money/taxaide or call 1-888-227-7669. Fill 1040x form e taxes   For more information on these programs, go to IRS. Fill 1040x form e taxes gov and enter “VITA” in the search box. Fill 1040x form e taxes Internet. Fill 1040x form e taxes IRS. Fill 1040x form e taxes gov and IRS2Go are ready when you are — every day, every night, 24 hours a day, 7 days a week. Fill 1040x form e taxes Apply for an Employer Identification Number (EIN). Fill 1040x form e taxes Go to IRS. Fill 1040x form e taxes gov and enter Apply for an EIN in the search box. Fill 1040x form e taxes Request an Electronic Filing PIN by going to IRS. Fill 1040x form e taxes gov and entering Electronic Filing PIN in the search box. Fill 1040x form e taxes Check the status of your 2013 refund with Where's My Refund? Go to IRS. Fill 1040x form e taxes gov or the IRS2Go app, and click on Where's My Refund? You'll get a personalized refund date as soon as the IRS processes your tax return and approves your refund. Fill 1040x form e taxes If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Fill 1040x form e taxes Check the status of your amended return. Fill 1040x form e taxes Go to IRS. Fill 1040x form e taxes gov and enter Where's My Amended Return in the search box. Fill 1040x form e taxes Download forms, instructions, and publications, including some accessible versions. Fill 1040x form e taxes Order free transcripts of your tax returns or tax account using the Order a Transcript tool on IRS. Fill 1040x form e taxes gov or IRS2Go. Fill 1040x form e taxes Tax return and tax account transcripts are generally available for the current year and past three years. Fill 1040x form e taxes Figure your income tax withholding with the IRS Withholding Calculator on IRS. Fill 1040x form e taxes gov. Fill 1040x form e taxes Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Fill 1040x form e taxes Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Fill 1040x form e taxes gov. Fill 1040x form e taxes Locate the nearest Taxpayer Assistance Center using the Office Locator tool on IRS. Fill 1040x form e taxes gov or IRS2Go. Fill 1040x form e taxes Stop by most business days for face-to-face tax help, no appointment necessary — just walk in. Fill 1040x form e taxes An employee can explain IRS letters, request adjustments to your tax account or help you set up a payment plan. Fill 1040x form e taxes Before you visit, check the Office Locator for the address, phone number, hours of operation and the services provided. Fill 1040x form e taxes If you have an ongoing tax account problem or a special need, such as a disability, you can request an appointment. Fill 1040x form e taxes Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Fill 1040x form e taxes Locate the nearest volunteer help site with the VITA Locator Tool on IRS. Fill 1040x form e taxes gov. Fill 1040x form e taxes Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Fill 1040x form e taxes The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. Fill 1040x form e taxes Most VITA and TCE sites offer free electronic filing and some provide IRS-certified volunteers who can help prepare your tax return. Fill 1040x form e taxes AARP offers the Tax-Aide counseling program as part of the TCE program. Fill 1040x form e taxes Visit AARP's website to find the nearest Tax-Aide location. Fill 1040x form e taxes Research your tax questions. Fill 1040x form e taxes Search publications and instructions by topic or keyword. Fill 1040x form e taxes Read the Internal Revenue Code, regulations, or other official guidance. Fill 1040x form e taxes Read Internal Revenue Bulletins. Fill 1040x form e taxes Sign up to receive local and national tax news by email. Fill 1040x form e taxes Phone. Fill 1040x form e taxes You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Fill 1040x form e taxes Download the free IRS2Go mobile app from the iTunes app store or from Google Play. Fill 1040x form e taxes Use it to watch the IRS YouTube channel, get IRS news as soon as it's released to the public, order transcripts of your tax returns or tax account, check your refund status, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Fill 1040x form e taxes Call to locate the nearest volunteer help site, 1-800-906-9887. Fill 1040x form e taxes Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Fill 1040x form e taxes The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. Fill 1040x form e taxes Most VITA and TCE sites offer free electronic filing. Fill 1040x form e taxes Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Fill 1040x form e taxes Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Fill 1040x form e taxes Call to check the status of your 2013 refund, 1-800-829-1954 or 1-800-829-4477. Fill 1040x form e taxes The automated Where's My Refund? information is available 24 hours a day, 7 days a week. Fill 1040x form e taxes If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Fill 1040x form e taxes Before you call, have your 2013 tax return handy so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Fill 1040x form e taxes Where's My Refund? can give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Fill 1040x form e taxes Where's My Refund? includes information for the most recent return filed in the current year and does not include information about amended returns. Fill 1040x form e taxes Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Fill 1040x form e taxes Call to order forms, instructions and publications, 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions and publications, and prior-year forms and instructions (limited to 5 years). Fill 1040x form e taxes You should receive your order within 10 business days. Fill 1040x form e taxes Call to order transcripts of your tax returns or tax account, 1-800-908-9946. Fill 1040x form e taxes Follow the prompts to provide your Social Security Number or Individual Taxpayer Identification Number, date of birth, street address and ZIP code. Fill 1040x form e taxes Call for TeleTax topics, 1-800-829-4477, to listen to pre-recorded messages covering various tax topics. Fill 1040x form e taxes Call to ask tax questions, 1-800-829-1040. Fill 1040x form e taxes Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Fill 1040x form e taxes The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Fill 1040x form e taxes These individuals can also contact the IRS through relay services such as the Federal Relay Service available at www. Fill 1040x form e taxes gsa. Fill 1040x form e taxes gov/fedrelay. Fill 1040x form e taxes Walk-in. Fill 1040x form e taxes You can find a selection of forms, publications and services — in-person, face-to-face. Fill 1040x form e taxes Products. Fill 1040x form e taxes You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Fill 1040x form e taxes Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Fill 1040x form e taxes Services. Fill 1040x form e taxes You can walk in to your local TAC most business days for personal, face-to-face tax help. Fill 1040x form e taxes An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. Fill 1040x form e taxes If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local TAC where you can talk with an IRS representative face-to-face. Fill 1040x form e taxes No appointment is necessary—just walk in. Fill 1040x form e taxes Before visiting, check www. Fill 1040x form e taxes irs. Fill 1040x form e taxes gov/localcontacts for hours of operation and services provided. Fill 1040x form e taxes Mail. Fill 1040x form e taxes You can send your order for forms, instructions, and publications to the address below. Fill 1040x form e taxes You should receive a response within 10 business days after your request is received. Fill 1040x form e taxes  Internal Revenue Service 1201 N. Fill 1040x form e taxes Mitsubishi Motorway Bloomington, IL 61705-6613 The Taxpayer Advocate Service Is Here to Help You. Fill 1040x form e taxes   The Taxpayer Advocate Service (TAS) is your voice at the IRS. Fill 1040x form e taxes Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Fill 1040x form e taxes What can TAS do for you?   We can offer you free help with IRS problems that you can't resolve on your own. Fill 1040x form e taxes We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Fill 1040x form e taxes You face (or your business is facing) an immediate threat of adverse action. Fill 1040x form e taxes You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Fill 1040x form e taxes   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Fill 1040x form e taxes Here's why we can help: TAS is an independent organization within the IRS. Fill 1040x form e taxes Our advocates know how to work with the IRS. Fill 1040x form e taxes Our services are free and tailored to meet your needs. Fill 1040x form e taxes We have offices in every state, the District of Columbia, and Puerto Rico. Fill 1040x form e taxes How can you reach us?   If you think TAS can help you, call your local advocate, whose number is in your local directory and at www. Fill 1040x form e taxes irs. Fill 1040x form e taxes gov/advocate, or call us toll-free at 1-877-777-4778. Fill 1040x form e taxes How else does TAS help taxpayers?   TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Fill 1040x form e taxes If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. Fill 1040x form e taxes irs. Fill 1040x form e taxes gov/sams. Fill 1040x form e taxes Low Income Taxpayer Clinics. Fill 1040x form e taxes   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals, and tax collection disputes. Fill 1040x form e taxes Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Fill 1040x form e taxes Visit www. Fill 1040x form e taxes TaxpayerAdvocate. Fill 1040x form e taxes irs. Fill 1040x form e taxes gov or see IRS Publication 4134, Low Income Taxpayer Clinic List. Fill 1040x form e taxes Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - Estate Tax Statistics

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Estate Tax Statistics OneSheet (PDF)
The OneSheet presents a project description, highlights of the data, and selected figures.

What is the Federal Estate Tax?

The Federal estate tax is a tax on the right to transfer property at death. The tax, reported on Form 706, United States Estate (and Generation Skipping Transfer) Tax Return, is applied to estates for which at-death gross assets, the "gross estate," exceed the filing threshold. Included in gross estate are real estate, cash, stocks, bonds, businesses, and decedent-owned life insurance policies. Deductions are allowed for administrative expenses, indebtedness, taxes, casualty loss, and charitable and marital transfers. The taxable estate is calculated as gross estate less allowable deductions.

For information about selected terms and concepts, a description of the data sources and limitations, and links to recent revisions of Form 706, please visit Estate Tax Study Metadata.

The IRS Estate Tax page provides further information concerning the estate tax.

Use the links below to find information about Estate Tax Statistics:

Data

Publications

Projections

     
Filing Year Data Tables SOI Bulletin Articles Estate Tax Projections
                         
Year-of-Death Data Tables Research Papers
                           

Linked Estate Tax-Form 1040 Data Tables
 

 

Presentations 
 

Compendium of Federal Estate Tax & Personal Wealth Studies: Volume 1  

Compendium of Federal Transfer Tax & Personal Wealth Studies: Volume 2

 

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Page Last Reviewed or Updated: 26-Dec-2013

The Fill 1040x Form E Taxes

Fill 1040x form e taxes 3. Fill 1040x form e taxes   Savings Incentive Match Plans for Employees (SIMPLE) Table of Contents Introduction What Is a SIMPLE Plan?Eligible Employees How Are Contributions Made? How Much Can Be Contributed on Your Behalf?Matching contributions less than 3%. Fill 1040x form e taxes Traditional IRA mistakenly moved to SIMPLE IRA. Fill 1040x form e taxes When Can You Withdraw or Use Assets?Are Distributions Taxable? Introduction This chapter is for employees who need information about savings incentive match plans for employees (SIMPLE plans). Fill 1040x form e taxes It explains what a SIMPLE plan is, contributions to a SIMPLE plan, and distributions from a SIMPLE plan. Fill 1040x form e taxes Under a SIMPLE plan, SIMPLE retirement accounts for participating employees can be set up either as: Part of a 401(k) plan, or A plan using IRAs (SIMPLE IRA). Fill 1040x form e taxes This chapter only discusses the SIMPLE plan rules that relate to SIMPLE IRAs. Fill 1040x form e taxes See chapter 3 of Publication 560 for information on any special rules for SIMPLE plans that do not use IRAs. Fill 1040x form e taxes If your employer maintains a SIMPLE plan, you must be notified, in writing, that you can choose the financial institution that will serve as trustee for your SIMPLE IRA and that you can roll over or transfer your SIMPLE IRA to another financial institution. Fill 1040x form e taxes See Rollovers and Transfers Exception, later under When Can You Withdraw or Use Assets. Fill 1040x form e taxes What Is a SIMPLE Plan? A SIMPLE plan is a tax-favored retirement plan that certain small employers (including self-employed individuals) can set up for the benefit of their employees. Fill 1040x form e taxes See chapter 3 of Publication 560 for information on the requirements employers must satisfy to set up a SIMPLE plan. Fill 1040x form e taxes A SIMPLE plan is a written agreement (salary reduction agreement) between you and your employer that allows you, if you are an eligible employee (including a self-employed individual), to choose to: Reduce your compensation (salary) by a certain percentage each pay period, and Have your employer contribute the salary reductions to a SIMPLE IRA on your behalf. Fill 1040x form e taxes These contributions are called salary reduction contributions. Fill 1040x form e taxes All contributions under a SIMPLE IRA plan must be made to SIMPLE IRAs, not to any other type of IRA. Fill 1040x form e taxes The SIMPLE IRA can be an individual retirement account or an individual retirement annuity, described in chapter 1. Fill 1040x form e taxes Contributions are made on behalf of eligible employees. Fill 1040x form e taxes (See Eligible Employees below. Fill 1040x form e taxes ) Contributions are also subject to various limits. Fill 1040x form e taxes (See How Much Can Be Contributed on Your Behalf , later. Fill 1040x form e taxes ) In addition to salary reduction contributions, your employer must make either matching contributions or nonelective contributions. Fill 1040x form e taxes See How Are Contributions Made , later. Fill 1040x form e taxes You may be able to claim a credit for contributions to your SIMPLE plan. Fill 1040x form e taxes For more information, see chapter 4. Fill 1040x form e taxes Eligible Employees You must be allowed to participate in your employer's SIMPLE plan if you: Received at least $5,000 in compensation from your employer during any 2 years prior to the current year, and Are reasonably expected to receive at least $5,000 in compensation during the calendar year for which contributions are made. Fill 1040x form e taxes Self-employed individual. Fill 1040x form e taxes   For SIMPLE plan purposes, the term employee includes a self-employed individual who received earned income. Fill 1040x form e taxes Excludable employees. Fill 1040x form e taxes   Your employer can exclude the following employees from participating in the SIMPLE plan. Fill 1040x form e taxes Employees whose retirement benefits are covered by a collective bargaining agreement (union contract). Fill 1040x form e taxes Employees who are nonresident aliens and received no earned income from sources within the United States. Fill 1040x form e taxes Employees who would not have been eligible employees if an acquisition, disposition, or similar transaction had not occurred during the year. Fill 1040x form e taxes Compensation. Fill 1040x form e taxes   For purposes of the SIMPLE plan rules, your compensation for a year generally includes the following amounts. Fill 1040x form e taxes Wages, tips, and other pay from your employer that is subject to income tax withholding. Fill 1040x form e taxes Deferred amounts elected under any 401(k) plans, 403(b) plans, government (section 457) plans, SEP plans, and SIMPLE plans. Fill 1040x form e taxes Self-employed individual compensation. Fill 1040x form e taxes   For purposes of the SIMPLE plan rules, if you are self-employed, your compensation for a year is your net earnings from self-employment (Schedule SE (Form 1040), Section A, line 4, or Section B, line 6) before subtracting any contributions made to a SIMPLE IRA on your behalf. Fill 1040x form e taxes   For these purposes, net earnings from self-employment include services performed while claiming exemption from self-employment tax as a member of a group conscientiously opposed to social security benefits. Fill 1040x form e taxes How Are Contributions Made? Contributions under a salary reduction agreement are called salary reduction contributions. Fill 1040x form e taxes They are made on your behalf by your employer. Fill 1040x form e taxes Your employer must also make either matching contributions or nonelective contributions. Fill 1040x form e taxes Salary reduction contributions. Fill 1040x form e taxes   During the 60-day period before the beginning of any year, and during the 60-day period before you are eligible, you can choose salary reduction contributions expressed either as a percentage of compensation, or as a specific dollar amount (if your employer offers this choice). Fill 1040x form e taxes You can choose to cancel the election at any time during the year. Fill 1040x form e taxes   Salary reduction contributions are also referred to as “elective deferrals. Fill 1040x form e taxes ”   Your employer cannot place restrictions on the contributions amount (such as by limiting the contributions percentage), except to comply with the salary reduction contributions limit, discussed under How Much Can Be Contributed on Your Behalf, later. Fill 1040x form e taxes Matching contributions. Fill 1040x form e taxes   Unless your employer chooses to make nonelective contributions, your employer must make contributions equal to the salary reduction contributions you choose (elect), but only up to certain limits. Fill 1040x form e taxes See How Much Can Be Contributed on Your Behalf below. Fill 1040x form e taxes These contributions are in addition to the salary reduction contributions and must be made to the SIMPLE IRAs of all eligible employees (defined earlier) who chose salary reductions. Fill 1040x form e taxes These contributions are referred to as matching contributions. Fill 1040x form e taxes   Matching contributions on behalf of a self-employed individual are not treated as salary reduction contributions. Fill 1040x form e taxes Nonelective contributions. Fill 1040x form e taxes   Instead of making matching contributions, your employer may be able to choose to make nonelective contributions on behalf of all eligible employees. Fill 1040x form e taxes These nonelective contributions must be made on behalf of each eligible employee who has at least $5,000 of compensation from your employer, whether or not the employee chose salary reductions. Fill 1040x form e taxes   One of the requirements your employer must satisfy is notifying the employees that the election was made. Fill 1040x form e taxes For other requirements that your employer must satisfy, see chapter 3 of Publication 560. Fill 1040x form e taxes How Much Can Be Contributed on Your Behalf? The limits on contributions to a SIMPLE IRA vary with the type of contribution that is made. Fill 1040x form e taxes Salary reduction contributions limit. Fill 1040x form e taxes   Salary reduction contributions (employee-chosen contributions or elective deferrals) that your employer can make on your behalf under a SIMPLE plan are limited to $12,000 for 2013. Fill 1040x form e taxes The limitation remains at $12,000 for 2014. Fill 1040x form e taxes If you are a participant in any other employer plans during 2013 and you have elective salary reductions or deferred compensation under those plans, the salary reduction contributions under the SIMPLE plan also are included in the annual limit of $17,500 for 2013 on exclusions of salary reductions and other elective deferrals. Fill 1040x form e taxes You, not your employer, are responsible for monitoring compliance with these limits. Fill 1040x form e taxes Additional elective deferrals can be contributed to your SIMPLE plan if: You reached age 50 by the end of 2013, and No other elective deferrals can be made for you to the plan for the year because of limits or restrictions, such as the regular annual limit. Fill 1040x form e taxes The most that can be contributed in additional elective deferrals to your SIMPLE plan is the lesser of the following two amounts. Fill 1040x form e taxes $2,500 for 2013, or Your compensation for the year reduced by your other elective deferrals for the year. Fill 1040x form e taxes The additional deferrals are not subject to any other contribution limit and are not taken into account in applying other contribution limits. Fill 1040x form e taxes The additional deferrals are not subject to the nondiscrimination rules as long as all eligible participants are allowed to make them. Fill 1040x form e taxes Matching employer contributions limit. Fill 1040x form e taxes   Generally, your employer must make matching contributions to your SIMPLE IRA in an amount equal to your salary reduction contributions. Fill 1040x form e taxes These matching contributions cannot be more than 3% of your compensation for the calendar year. Fill 1040x form e taxes See Matching contributions less than 3% below. Fill 1040x form e taxes Example 1. Fill 1040x form e taxes In 2013, Joshua was a participant in his employer's SIMPLE plan. Fill 1040x form e taxes His compensation, before SIMPLE plan contributions, was $41,600 ($800 per week). Fill 1040x form e taxes Instead of taking it all in cash, Joshua elected to have 12. Fill 1040x form e taxes 5% of his weekly pay ($100) contributed to his SIMPLE IRA. Fill 1040x form e taxes For the full year, Joshua's salary reduction contributions were $5,200, which is less than the $12,000 limit on these contributions. Fill 1040x form e taxes Under the plan, Joshua's employer was required to make matching contributions to Joshua's SIMPLE IRA. Fill 1040x form e taxes Because his employer's matching contributions must equal Joshua's salary reductions, but cannot be more than 3% of his compensation (before salary reductions) for the year, his employer's matching contribution was limited to $1,248 (3% of $41,600). Fill 1040x form e taxes Example 2. Fill 1040x form e taxes Assume the same facts as in Example 1 , except that Joshua's compensation for the year was $408,163 and he chose to have 2. Fill 1040x form e taxes 94% of his weekly pay contributed to his SIMPLE IRA. Fill 1040x form e taxes In this example, Joshua's salary reduction contributions for the year (2. Fill 1040x form e taxes 94% × $408,163) were equal to the 2013 limit for salary reduction contributions ($12,000). Fill 1040x form e taxes Because 3% of Joshua's compensation ($12,245) is more than the amount his employer was required to match ($12,000), his employer's matching contributions were limited to $12,000. Fill 1040x form e taxes In this example, total contributions made on Joshua's behalf for the year were $24,000 ($12,000 (Joshua's contributions) + $12,000 (matching contributions)), the maximum contributions permitted under a SIMPLE IRA for 2013. Fill 1040x form e taxes Matching contributions less than 3%. Fill 1040x form e taxes   Your employer can reduce the 3% limit on matching contributions for a calendar year, but only if: The limit is not reduced below 1%, The limit is not reduced for more than 2 years out of the 5-year period that ends with (and includes) the year for which the election is effective, and Employees are notified of the reduced limit within a reasonable period of time before the 60-day election period during which they can enter into salary reduction agreements. Fill 1040x form e taxes   For purposes of applying the rule in item (2) in determining whether the limit was reduced below 3% for the year, any year before the first year in which your employer (or a former employer) maintains a SIMPLE IRA plan will be treated as a year for which the limit was 3%. Fill 1040x form e taxes If your employer chooses to make nonelective contributions for a year, that year also will be treated as a year for which the limit was 3%. Fill 1040x form e taxes Nonelective employer contributions limit. Fill 1040x form e taxes   If your employer chooses to make nonelective contributions, instead of matching contributions, to each eligible employee's SIMPLE IRA, contributions must be 2% of your compensation for the entire year. Fill 1040x form e taxes For 2013, only $255,000 of your compensation can be taken into account to figure the contribution limit. Fill 1040x form e taxes   Your employer can substitute the 2% nonelective contribution for the matching contribution for a year if both of the following requirements are met. Fill 1040x form e taxes Eligible employees are notified that a 2% nonelective contribution will be made instead of a matching contribution. Fill 1040x form e taxes This notice is provided within a reasonable period during which employees can enter into salary reduction agreements. Fill 1040x form e taxes Example 3. Fill 1040x form e taxes Assume the same facts as in Example 2 , except that Joshua's employer chose to make nonelective contributions instead of matching contributions. Fill 1040x form e taxes Because his employer's nonelective contributions are limited to 2% of up to $255,000 of Joshua's compensation, his employer's contribution to Joshua's SIMPLE IRA was limited to $5,100. Fill 1040x form e taxes In this example, total contributions made on Joshua's behalf for the year were $17,100 (Joshua's salary reductions of $12,000 plus his employer's contribution of $5,100). Fill 1040x form e taxes Traditional IRA mistakenly moved to SIMPLE IRA. Fill 1040x form e taxes   If you mistakenly roll over or transfer an amount from a traditional IRA to a SIMPLE IRA, you can later recharacterize the amount as a contribution to another traditional IRA. Fill 1040x form e taxes For more information, see Recharacterizations in chapter 1. Fill 1040x form e taxes Recharacterizing employer contributions. Fill 1040x form e taxes   You cannot recharacterize employer contributions (including elective deferrals) under a SEP or SIMPLE plan as contributions to another IRA. Fill 1040x form e taxes SEPs are discussed in chapter 2 of Publication 560. Fill 1040x form e taxes SIMPLE plans are discussed in this chapter. Fill 1040x form e taxes Converting from a SIMPLE IRA. Fill 1040x form e taxes   Generally, you can convert an amount in your SIMPLE IRA to a Roth IRA under the same rules explained in chapter 1 under Converting From Any Traditional IRA Into a Roth IRA . Fill 1040x form e taxes    However, you cannot convert any amount distributed from the SIMPLE IRA during the 2-year period beginning on the date you first participated in any SIMPLE IRA plan maintained by your employer. Fill 1040x form e taxes When Can You Withdraw or Use Assets? Generally, the same distribution (withdrawal) rules that apply to traditional IRAs apply to SIMPLE IRAs. Fill 1040x form e taxes These rules are discussed in chapter 1. Fill 1040x form e taxes Your employer cannot restrict you from taking distributions from a SIMPLE IRA. Fill 1040x form e taxes Are Distributions Taxable? Generally, distributions from a SIMPLE IRA are fully taxable as ordinary income. Fill 1040x form e taxes If the distribution is an early distribution (discussed in chapter 1), it may be subject to the additional tax on early distributions. Fill 1040x form e taxes See Additional Tax on Early Distributions, later. Fill 1040x form e taxes Rollovers and Transfers Exception Generally, rollovers and trustee-to-trustee transfers are not taxable distributions. Fill 1040x form e taxes Two-year rule. Fill 1040x form e taxes   To qualify as a tax-free rollover (or a tax-free trustee-to-trustee transfer), a rollover distribution (or a transfer) made from a SIMPLE IRA during the 2-year period beginning on the date on which you first participated in your employer's SIMPLE plan must be contributed (or transferred) to another SIMPLE IRA. Fill 1040x form e taxes The 2-year period begins on the first day on which contributions made by your employer are deposited in your SIMPLE IRA. Fill 1040x form e taxes   After the 2-year period, amounts in a SIMPLE IRA can be rolled over or transferred tax free to an IRA other than a SIMPLE IRA, or to a qualified plan, a tax-sheltered annuity plan (section 403(b) plan), or deferred compensation plan of a state or local government (section 457 plan). Fill 1040x form e taxes Additional Tax on Early Distributions The additional tax on early distributions (discussed in chapter 1) applies to SIMPLE IRAs. Fill 1040x form e taxes If a distribution is an early distribution and occurs during the 2-year period following the date on which you first participated in your employer's SIMPLE plan, the additional tax on early distributions is increased from 10% to 25%. Fill 1040x form e taxes If a rollover distribution (or transfer) from a SIMPLE IRA does not satisfy the 2-year rule, and is otherwise an early distribution, the additional tax imposed because of the early distribution is increased from 10% to 25% of the amount distributed. Fill 1040x form e taxes Prev  Up  Next   Home   More Online Publications