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Form 1040x

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Form 1040x

Form 1040x Internal Revenue Bulletin:  2010-9  March 1, 2010  Rev. Form 1040x Proc. Form 1040x 2010-18 Table of Contents SECTION 1. Form 1040x PURPOSE SECTION 2. Form 1040x BACKGROUND SECTION 3. Form 1040x SCOPE SECTION 4. Form 1040x APPLICATION SECTION 5. Form 1040x EFFECTIVE DATE SECTION 6. Form 1040x DRAFTING INFORMATION SECTION 1. Form 1040x PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2010, including a separate table of limitations on depreciation deductions for trucks and vans; and (2) the amounts to be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2010, including a separate table of inclusion amounts for lessees of trucks and vans. Form 1040x The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. Form 1040x SECTION 2. Form 1040x BACKGROUND . Form 1040x 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. Form 1040x Section 280F(d)(7) requires the amounts allowable as depreciation deductions to be increased by a price inflation adjustment amount for passenger automobiles placed in service after 1988. Form 1040x The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. Form 1040x This change reflects the higher rate of price inflation for trucks and vans since 1988. Form 1040x . Form 1040x 02 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. Form 1040x The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. Form 1040x Under § 1. Form 1040x 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an inclusion amount determined by applying a formula to the amount obtained from a table. Form 1040x One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. Form 1040x Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. Form 1040x SECTION 3. Form 1040x SCOPE . Form 1040x 01 The limitations on depreciation deductions in section 4. Form 1040x 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2010, and continue to apply for each taxable year that the passenger automobile remains in service. Form 1040x . Form 1040x 02 The tables in section 4. Form 1040x 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2010. Form 1040x Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. Form 1040x See Rev. Form 1040x Proc. Form 1040x 2005-13, 2005-1 C. Form 1040x B. Form 1040x 759, for passenger automobiles first leased before calendar year 2006; Rev. Form 1040x Proc. Form 1040x 2006-18, 2006-1 C. Form 1040x B. Form 1040x 645, for passenger automobiles first leased during calendar year 2006; Rev. Form 1040x Proc. Form 1040x 2007-30, 2007-1 C. Form 1040x B. Form 1040x 1104, for passenger automobiles first leased during calendar year 2007; Rev. Form 1040x Proc. Form 1040x 2008-22, 2008-12 I. Form 1040x R. Form 1040x B. Form 1040x 658, for passenger automobiles first leased during calendar year 2008; and Rev. Form 1040x Proc. Form 1040x 2009-24, 2009-17 I. Form 1040x R. Form 1040x B. Form 1040x 885, for passenger automobiles first leased during calendar year 2009. Form 1040x SECTION 4. Form 1040x APPLICATION . Form 1040x 01 Limitations on Depreciation Deductions for Certain Automobiles. Form 1040x (1) Amount of the inflation adjustment. Form 1040x (a) Passenger automobiles (other than trucks or vans). Form 1040x Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. Form 1040x The term “CPI automobile component” is defined in § 280F(d)(7)(B)(ii) as the “automobile component” of the Consumer Price Index for all Urban Consumers published by the Department of Labor. Form 1040x The new car component of the CPI was 115. Form 1040x 2 for October 1987 and 137. Form 1040x 851 for October 2009. Form 1040x The October 2009 index exceeded the October 1987 index by 22. Form 1040x 651. Form 1040x Therefore, the automobile price inflation adjustment for 2010 for passenger automobiles (other than trucks and vans) is 19. Form 1040x 66 percent (22. Form 1040x 651/115. Form 1040x 2 x 100%). Form 1040x The dollar limitations in § 280F(a) are multiplied by a factor of 0. Form 1040x 1966, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2010. Form 1040x This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2010. Form 1040x (b) Trucks and vans. Form 1040x To determine the dollar limitations for trucks and vans first placed in service during calendar year 2010, the new truck component of the CPI is used instead of the new car component. Form 1040x The new truck component of the CPI was 112. Form 1040x 4 for October 1987 and 140. Form 1040x 897 for October 2009. Form 1040x The October 2009 index exceeded the October 1987 index by 28. Form 1040x 497. Form 1040x Therefore, the automobile price inflation adjustment for 2010 for trucks and vans is 25. Form 1040x 35 percent (28. Form 1040x 497/112. Form 1040x 4 x 100%). Form 1040x The dollar limitations in § 280F(a) are multiplied by a factor of 0. Form 1040x 2535, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. Form 1040x This adjustment applies to all trucks and vans that are first placed in service in calendar year 2010. Form 1040x (2) Amount of the limitation. Form 1040x Tables 1 and 2 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2010. Form 1040x Use Table 1 for a passenger automobile (other than a truck or van) and Table 2 for a truck or van placed in service in calendar year 2010. Form 1040x REV. Form 1040x PROC. Form 1040x 2010-18 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2010 Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Form 1040x PROC. Form 1040x 2010-18 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 Tax Year Amount 1st Tax Year $3,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 . Form 1040x 02 Inclusions in Income of Lessees of Passenger Automobiles. Form 1040x A taxpayer must follow the procedures in § 1. Form 1040x 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2010. Form 1040x In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 3 of this revenue procedure, while lessees of trucks and vans should use Table 4 of this revenue procedure. Form 1040x REV. Form 1040x PROC. Form 1040x 2010-18 TABLE 3 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2010 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $16,700 $17,000 3 7 10 11 14 17,000 17,500 4 8 13 15 16 17,500 18,000 5 10 16 19 21 18,000 18,500 6 13 18 23 26 18,500 19,000 7 15 22 26 31 19,000 19,500 8 17 25 30 35 19,500 20,000 9 19 29 34 39 20,000 20,500 10 21 32 38 44 20,500 21,000 11 23 35 42 48 21,000 21,500 12 26 38 45 53 21,500 22,000 13 28 41 50 57 22,000 23,000 14 31 46 56 63 23,000 24,000 16 36 52 63 73 24,000 25,000 18 40 59 71 81 25,000 26,000 20 44 66 78 90 26,000 27,000 22 49 71 86 100 27,000 28,000 24 53 78 94 108 28,000 29,000 26 57 85 101 118 29,000 30,000 28 61 92 109 126 30,000 31,000 30 66 97 117 135 31,000 32,000 32 70 104 125 144 32,000 33,000 34 74 111 132 153 33,000 34,000 36 79 117 140 161 34,000 35,000 38 83 123 148 171 35,000 36,000 40 87 130 156 179 36,000 37,000 42 92 136 163 188 37,000 38,000 44 96 143 170 198 38,000 39,000 46 100 149 179 206 39,000 40,000 48 105 155 186 215 40,000 41,000 50 109 162 194 224 41,000 42,000 52 113 169 201 233 42,000 43,000 54 118 174 210 241 43,000 44,000 56 122 181 217 251 44,000 45,000 58 126 188 225 259 45,000 46,000 60 131 194 232 269 46,000 47,000 61 135 201 240 277 47,000 48,000 63 140 207 248 286 48,000 49,000 65 144 213 256 295 49,000 50,000 67 148 220 263 304 50,000 51,000 69 153 226 271 313 51,000 52,000 71 157 232 279 322 52,000 53,000 73 161 239 287 331 53,000 54,000 75 166 245 294 340 54,000 55,000 77 170 252 302 348 55,000 56,000 79 174 258 310 358 56,000 57,000 81 178 265 318 366 57,000 58,000 83 183 271 325 375 58,000 59,000 85 187 278 333 384 59,000 60,000 87 191 284 341 393 60,000 62,000 90 198 294 352 406 62,000 64,000 94 207 306 368 424 64,000 66,000 98 215 320 382 443 66,000 68,000 102 224 332 398 460 68,000 70,000 106 232 346 413 478 70,000 72,000 110 241 358 429 496 72,000 74,000 114 250 371 444 513 74,000 76,000 118 258 384 460 531 76,000 78,000 122 267 396 476 549 78,000 80,000 126 276 409 491 566 80,000 85,000 132 291 432 518 598 85,000 90,000 142 313 464 556 643 90,000 95,000 152 334 497 594 687 95,000 100,000 162 356 528 634 731 100,000 110,000 177 388 577 691 798 110,000 120,000 196 432 641 768 887 120,000 130,000 216 475 705 846 976 130,000 140,000 236 518 770 922 1,065 140,000 150,000 256 561 834 1,000 1,154 150,000 160,000 275 605 898 1,077 1,243 160,000 170,000 295 648 963 1,153 1,333 170,000 180,000 315 691 1,027 1,231 1,421 180,000 190,000 334 735 1,091 1,308 1,510 190,000 200,000 354 778 1,155 1,386 1,599 200,000 210,000 374 821 1,220 1,462 1,688 210,000 220,000 393 865 1,284 1,539 1,777 220,000 230,000 413 908 1,348 1,617 1,866 230,000 240,000 433 951 1,413 1,693 1,956 240,000 and up 453 995 1,476 1,771 2,044 REV. Form 1040x PROC. Form 1040x 2010-18 TABLE 4 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2010 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later 17,000 17,500 3 6 9 10 11 17,500 18,000 4 8 12 14 16 18,000 18,500 5 10 15 18 21 18,500 19,000 6 12 19 22 24 19,000 19,500 7 15 21 26 29 19,500 20,000 8 17 25 29 34 20,000 20,500 9 19 28 33 38 20,500 21,000 10 21 31 37 43 21,000 21,500 11 23 35 41 47 21,500 22,000 12 25 38 45 51 22,000 23,000 13 29 42 51 58 23,000 24,000 15 33 49 58 67 24,000 25,000 17 37 56 66 76 25,000 26,000 19 42 62 73 85 26,000 27,000 21 46 68 82 93 27,000 28,000 23 50 75 89 103 28,000 29,000 25 55 81 97 111 29,000 30,000 27 59 88 104 121 30,000 31,000 29 63 94 113 129 31,000 32,000 31 68 100 120 138 32,000 33,000 33 72 107 127 148 33,000 34,000 35 76 114 135 156 34,000 35,000 37 81 119 143 165 35,000 36,000 39 85 126 151 174 36,000 37,000 41 89 133 158 183 37,000 38,000 43 94 139 166 191 38,000 39,000 45 98 145 174 201 39,000 40,000 47 102 152 182 209 40,000 41,000 49 106 159 189 218 41,000 42,000 51 111 164 198 227 42,000 43,000 53 115 171 205 236 43,000 44,000 55 119 178 213 245 44,000 45,000 57 124 184 220 254 45,000 46,000 59 128 190 228 263 46,000 47,000 60 133 197 235 272 47,000 48,000 62 137 203 244 280 48,000 49,000 64 142 209 251 290 49,000 50,000 66 146 216 259 298 50,000 51,000 68 150 223 266 308 51,000 52,000 70 154 229 275 316 52,000 53,000 72 159 235 282 325 53,000 54,000 74 163 242 290 334 54,000 55,000 76 167 249 297 343 55,000 56,000 78 172 254 305 352 56,000 57,000 80 176 261 313 361 57,000 58,000 82 180 268 320 370 58,000 59,000 84 185 274 328 378 59,000 60,000 86 189 280 336 388 60,000 62,000 89 195 291 347 401 62,000 64,000 93 204 303 363 418 64,000 66,000 97 213 315 379 436 66,000 68,000 101 221 329 394 454 68,000 70,000 105 230 341 410 472 70,000 72,000 109 239 354 424 490 72,000 74,000 113 247 367 440 508 74,000 76,000 117 256 380 455 526 76,000 78,000 121 264 393 471 543 78,000 80,000 125 273 406 486 561 80,000 85,000 131 289 428 513 592 85,000 90,000 141 310 461 552 636 90,000 95,000 151 332 492 591 681 95,000 100,000 161 353 525 629 726 100,000 110,000 176 386 573 686 793 110,000 120,000 195 430 637 763 882 120,000 130,000 215 473 701 841 971 130,000 140,000 235 516 766 918 1,059 140,000 150,000 255 559 830 995 1,149 150,000 160,000 274 603 894 1,072 1,238 160,000 170,000 294 646 958 1,150 1,326 170,000 180,000 314 689 1,023 1,226 1,416 180,000 190,000 333 733 1,087 1,303 1,505 190,000 200,000 353 776 1,151 1,381 1,594 200,000 210,000 373 819 1,216 1,457 1,683 210,000 220,000 392 863 1,280 1,534 1,772 220,000 230,000 412 906 1,344 1,612 1,861 230,000 240,000 432 949 1,409 1,689 1,949 240,000 and up 452 992 1,473 1,766 2,039 SECTION 5. Form 1040x EFFECTIVE DATE This revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2010. Form 1040x SECTION 6. Form 1040x DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. Form 1040x Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). Form 1040x For further information regarding this revenue procedure, contact Mr. Form 1040x Harvey at (202) 622-4930 (not a toll-free call). Form 1040x Prev  Up  Next   Home   More Internal Revenue Bulletins
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Understanding your CP504B Notice

You have an unpaid amount due on your account. If you do not pay the amount due immediately, the
IRS will seize (levy) certain property or rights to property and apply it to pay the
amount you owe.

Printable samples of this notice (PDF)

Tax publications you may find useful

How to get help

Calling the 1-800 number listed on the top right corner of your notice is the fastest way to get your questions answered.

You can also authorize someone (such as an accountant) to contact the IRS on your behalf using this Power of Attorney and Declaration of Representative (Form 2848).

Or you may qualify for help from a Low Income Taxpayer Clinic.
 


What you need to do

  • Read your notice carefully — it explains your due date, amount due, and payment options.
  • Make your payment by your due date. Go to the payments page to find out more about your payment options.

You may want to...


Answers to Common Questions

What is the notice telling me?
This notice is telling you that we intend to issue a levy against certain property or rights to property because you still have a balance due on one of your tax accounts. You must pay this amount immediately to avoid this. It is also telling you that we will begin searching for other assets on which to issue a levy. We may also file a Federal Tax Lien, if we have not already done so.

What do I have to do?
Pay the amount due shown on the notice. Mail us your payment in the envelope we sent you. Include the bottom part of the notice to make sure we correctly credit your account.

If you can't pay the whole amount now, call us at the number printed at the top of the notice to see if you qualify for an installment agreement.

How much time do I have?
You should pay your balance due by the due date shown on your notice.

What happens if I don't pay or contact the IRS?
If you don't pay the amount due, we may send you a notice giving you a right to a hearing before the IRS Office of Appeals if you have not already received such a notice. We may then seize ("levy") your property or rights to property. Property includes:

  • Wages, real estate commissions, and other income
  • Bank accounts
  • Business assets
  • Personal assets (including your car and home)
  • Social Security benefits

This is your notice of intent to levy as required by Internal Revenue Code section 6331(d).

If you don't pay the amount due or call us to make payment arrangements, we can file a Notice of Federal Tax Lien on your property at any time, if we haven’t already done so.

If the lien is in place, you may find it difficult to sell or borrow against your property. The tax lien would also appear on your credit report ― which may harm your credit rating ― and your creditors would also be publicly notified that the IRS has priority to seize your property.

Who should I contact?
If you have any questions about the notice, call us at the number printed at the top of the notice. A customer service representative will assist you.

What if I don't agree or have already taken corrective action?
If you do not agree with this notice, contact us immediately at the number printed at the top of the notice. We will do our best to help you. If you have already paid this liability or arranged to pay it with an installment agreement, you should still call us at the number printed at the top of the notice to make sure your account reflects this.

Page Last Reviewed or Updated: 05-Mar-2014

The Form 1040x

Form 1040x 20. Form 1040x   Standard Deduction Table of Contents What's New Introduction Standard Deduction Amount Standard Deduction for Dependents Who Should ItemizeWhen to itemize. Form 1040x Married persons who filed separate returns. Form 1040x What's New Standard deduction increased. Form 1040x  The standard deduction for some taxpayers who do not itemize their deductions on Schedule A (Form 1040) is higher for 2013 than it was for 2012. Form 1040x The amount depends on your filing status. Form 1040x You can use the 2013 Standard Deduction Tables in this chapter to figure your standard deduction. Form 1040x Introduction This chapter discusses the following topics. Form 1040x How to figure the amount of your standard deduction. Form 1040x The standard deduction for dependents. Form 1040x Who should itemize deductions. Form 1040x Most taxpayers have a choice of either taking a standard deduction or itemizing their deductions. Form 1040x If you have a choice, you can use the method that gives you the lower tax. Form 1040x The standard deduction is a dollar amount that reduces your taxable income. Form 1040x It is a benefit that eliminates the need for many taxpayers to itemize actual deductions, such as medical expenses, charitable contributions, and taxes, on Schedule A (Form 1040). Form 1040x The standard deduction is higher for taxpayers who: Are 65 or older, or Are blind. Form 1040x You benefit from the standard deduction if your standard deduction is more than the total of your allowable itemized deductions. Form 1040x Persons not eligible for the standard deduction. Form 1040x   Your standard deduction is zero and you should itemize any deductions you have if: Your filing status is married filing separately, and your spouse itemizes deductions on his or her return, You are filing a tax return for a short tax year because of a change in your annual accounting period, or You are a nonresident or dual-status alien during the year. Form 1040x You are considered a dual-status alien if you were both a nonresident and resident alien during the year. Form 1040x Note. Form 1040x If you are a nonresident alien who is married to a U. Form 1040x S. Form 1040x citizen or resident alien at the end of the year, you can choose to be treated as a U. Form 1040x S. Form 1040x resident. Form 1040x (See Publication 519, U. Form 1040x S. Form 1040x Tax Guide for Aliens. Form 1040x ) If you make this choice, you can take the standard deduction. Form 1040x If an exemption for you can be claimed on another person's return (such as your parents' return), your standard deduction may be limited. Form 1040x See Standard Deduction for Dependents, later. Form 1040x Standard Deduction Amount The standard deduction amount depends on your filing status, whether you are 65 or older or blind, and whether an exemption can be claimed for you by another taxpayer. Form 1040x Generally, the standard deduction amounts are adjusted each year for inflation. Form 1040x The standard deduction amounts for most people are shown in Table 20-1. Form 1040x Decedent's final return. Form 1040x   The standard deduction for a decedent's final tax return is the same as it would have been had the decedent continued to live. Form 1040x However, if the decedent was not 65 or older at the time of death, the higher standard deduction for age cannot be claimed. Form 1040x Higher Standard Deduction for Age (65 or Older) If you are age 65 or older on the last day of the year and do not itemize deductions, you are entitled to a higher standard deduction. Form 1040x You are considered 65 on the day before your 65th birthday. Form 1040x Therefore, you can take a higher standard deduction for 2013 if you were born before January 2, 1949. Form 1040x Use Table 20-2 to figure the standard deduction amount. Form 1040x Higher Standard Deduction for Blindness If you are blind on the last day of the year and you do not itemize deductions, you are entitled to a higher standard deduction. Form 1040x Not totally blind. Form 1040x   If you are not totally blind, you must get a certified statement from an eye doctor (ophthalmologist or optometrist) that: You cannot see better than 20/200 in the better eye with glasses or contact lenses, or Your field of vision is 20 degrees or less. Form 1040x   If your eye condition is not likely to improve beyond these limits, the statement should include this fact. Form 1040x You must keep the statement in your records. Form 1040x   If your vision can be corrected beyond these limits only by contact lenses that you can wear only briefly because of pain, infection, or ulcers, you can take the higher standard deduction for blindness if you otherwise qualify. Form 1040x Spouse 65 or Older or Blind You can take the higher standard deduction if your spouse is age 65 or older or blind and: You file a joint return, or You file a separate return and can claim an exemption for your spouse because your spouse had no gross income and cannot be claimed as a dependent by another taxpayer. Form 1040x You cannot claim the higher standard deduction for an individual other than yourself and your spouse. Form 1040x Examples The following examples illustrate how to determine your standard deduction using Tables 20-1 and 20-2. Form 1040x Example 1. Form 1040x Larry, 46, and Donna, 33, are filing a joint return for 2013. Form 1040x Neither is blind, and neither can be claimed as a dependent. Form 1040x They decide not to itemize their deductions. Form 1040x They use Table 20-1. Form 1040x Their standard deduction is $12,200. Form 1040x Example 2. Form 1040x The facts are the same as in Example 1 except that Larry is blind at the end of 2013. Form 1040x Larry and Donna use Table 20-2. Form 1040x Their standard deduction is $13,400. Form 1040x Example 3. Form 1040x Bill and Lisa are filing a joint return for 2013. Form 1040x Both are over age 65. Form 1040x Neither is blind, and neither can be claimed as a dependent. Form 1040x If they do not itemize deductions, they use Table 20-2. Form 1040x Their standard deduction is $14,600. Form 1040x Standard Deduction for Dependents The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the greater of: $1,000, or The individual's earned income for the year plus $350 (but not more than the regular standard deduction amount, generally $6,100). Form 1040x However, if the individual is 65 or older or blind, the standard deduction may be higher. Form 1040x If you (or your spouse, if filing jointly) can be claimed as a dependent on someone else's return, use Table 20-3 to determine your standard deduction. Form 1040x Earned income defined. Form 1040x   Earned income is salaries, wages, tips, professional fees, and other amounts received as pay for work you actually perform. Form 1040x    For purposes of the standard deduction, earned income also includes any part of a scholarship or fellowship grant that you must include in your gross income. Form 1040x See Scholarships and fellowships in chapter 12 for more information on what qualifies as a scholarship or fellowship grant. Form 1040x Example 1. Form 1040x Michael is single. Form 1040x His parents can claim an exemption for him on their 2013 tax return. Form 1040x He has interest income of $780 and wages of $150. Form 1040x He has no itemized deductions. Form 1040x Michael uses Table 20-3 to find his standard deduction. Form 1040x He enters $150 (his earned income) on line 1, $500 ($150 + $350) on line 3, $1,000 (the larger of $500 and $1,000) on line 5, and $6,100 on line 6. Form 1040x His standard deduction, on line 7a, is $1,000 (the smaller of $1,000 and $6,100). Form 1040x Example 2. Form 1040x Joe, a 22-year-old full-time college student, can be claimed as a dependent on his parents' 2013 tax return. Form 1040x Joe is married and files a separate return. Form 1040x His wife does not itemize deductions on her separate return. Form 1040x Joe has $1,500 in interest income and wages of $3,800. Form 1040x He has no itemized deductions. Form 1040x Joe finds his standard deduction by using Table 20-3. Form 1040x He enters his earned income, $3,800 on line 1. Form 1040x He adds lines 1 and 2 and enters $4,150 on line 3. Form 1040x On line 5, he enters $4,150, the larger of lines 3 and 4. Form 1040x Because Joe is married filing a separate return, he enters $6,100 on line 6. Form 1040x On line 7a he enters $4,150 as his standard deduction because it is smaller than $6,100, the amount on line 6. Form 1040x Example 3. Form 1040x Amy, who is single, can be claimed as a dependent on her parents' 2013 tax return. Form 1040x She is 18 years old and blind. Form 1040x She has interest income of $1,300 and wages of $2,900. Form 1040x She has no itemized deductions. Form 1040x Amy uses Table 20-3 to find her standard deduction. Form 1040x She enters her wages of $2,900 on line 1. Form 1040x She adds lines 1 and 2 and enters $3,250 on line 3. Form 1040x On line 5, she enters $3,250, the larger of lines 3 and 4. Form 1040x Because she is single, Amy enters $6,100 on line 6. Form 1040x She enters $3,250 on line 7a. Form 1040x This is the smaller of the amounts on lines 5 and 6. Form 1040x Because she checked one box in the top part of the worksheet, she enters $1,500 on line 7b. Form 1040x She then adds the amounts on lines 7a and 7b and enters her standard deduction of $4,750 on line 7c. Form 1040x Example 4. Form 1040x Ed is single. Form 1040x His parents can claim an exemption for him on their 2013 tax return. Form 1040x He has wages of $7,000, interest income of $500, and a business loss of $3,000. Form 1040x He has no itemized deductions. Form 1040x Ed uses Table 20-3 to figure his standard deduction. Form 1040x He enters $4,000 ($7,000 - $3,000) on line 1. Form 1040x He adds lines 1 and 2 and enters $4,350 on line 3. Form 1040x On line 5 he enters $4,350, the larger of lines 3 and 4. Form 1040x Because he is single, Ed enters $6,100 on line 6. Form 1040x On line 7a he enters $4,350 as his standard deduction because it is smaller than $6,100, the amount on line 6. Form 1040x Who Should Itemize You should itemize deductions if your total deductions are more than the standard deduction amount. Form 1040x Also, you should itemize if you do not qualify for the standard deduction, as discussed earlier under Persons not eligible for the standard deduction . Form 1040x You should first figure your itemized deductions and compare that amount to your standard deduction to make sure you are using the method that gives you the greater benefit. Form 1040x You may be subject to a limit on some of your itemized deductions if your adjusted gross income is more than: $250,000 if single ($275,000 if head of household, $300,000 if married filing jointly or qualifying widow(er); or $150,000 if married filing separately). Form 1040x See chapter 29 or the instructions for Schedule A (Form 1040) for more information on figuring the correct amount of your itemized deductions. Form 1040x When to itemize. Form 1040x   You may benefit from itemizing your deductions on Schedule A (Form 1040) if you: Do not qualify for the standard deduction, or the amount you can claim is limited, Had large uninsured medical and dental expenses during the year, Paid interest and taxes on your home, Had large unreimbursed employee business expenses or other miscellaneous deductions, Had large uninsured casualty or theft losses, Made large contributions to qualified charities, or Have total itemized deductions that are more than the standard deduction to which you otherwise are entitled. Form 1040x These deductions are explained in chapters 21–28. Form 1040x    If you decide to itemize your deductions, complete Schedule A and attach it to your Form 1040. Form 1040x Enter the amount from Schedule A, line 29, on Form 1040, line 40. Form 1040x Electing to itemize for state tax or other purposes. Form 1040x   Even if your itemized deductions are less than your standard deduction, you can elect to itemize deductions on your federal return rather than take the standard deduction. Form 1040x You may want to do this if, for example, the tax benefit of itemizing your deductions on your state tax return is greater than the tax benefit you lose on your federal return by not taking the standard deduction. Form 1040x To make this election, you must check the box on line 30 of Schedule A. Form 1040x Changing your mind. Form 1040x   If you do not itemize your deductions and later find that you should have itemized — or if you itemize your deductions and later find you should not have — you can change your return by filing Form 1040X, Amended U. Form 1040x S. Form 1040x Individual Income Tax Return. Form 1040x See Amended Returns and Claims for Refund in chapter 1 for more information on amended returns. Form 1040x Married persons who filed separate returns. Form 1040x   You can change methods of taking deductions only if you and your spouse both make the same changes. Form 1040x Both of you must file a consent to assessment for any additional tax either one may owe as a result of the change. Form 1040x    You and your spouse can use the method that gives you the lower total tax, even though one of you may pay more tax than you would have paid by using the other method. Form 1040x You both must use the same method of claiming deductions. Form 1040x If one itemizes deductions, the other should itemize because he or she will not qualify for the standard deduction. Form 1040x See Persons not eligible for the standard deduction , earlier. Form 1040x 2013 Standard Deduction Tables If you are married filing a separate return and your spouse itemizes deductions, or if you are a dual-status alien, you cannot take the standard deduction even if you were born before January 2, 1949, or are blind. Form 1040x Table 20-1. Form 1040x Standard Deduction Chart for Most People* If your filing status is. Form 1040x . Form 1040x . Form 1040x Your standard deduction is: Single or Married filing separately $6,100 Married filing jointly or Qualifying widow(er) with dependent child 12,200 Head of household 8,950 *Do not use this chart if you were born before January 2, 1949, are blind, or if someone else can claim you (or your spouse if filing jointly) as a dependent. Form 1040x Use Table 20-2 or 20-3 instead. Form 1040x Table 20-2. Form 1040x Standard Deduction Chart for People Born Before January 2, 1949, or Who are Blind Check the correct number of boxes below. Form 1040x Then go to the chart. Form 1040x You: Born before January 2, 1949 □ Blind □ Your spouse, if claiming spouse's exemption: Born before January 2, 1949 □ Blind □ Total number of boxes checked   IF  your filing status is. Form 1040x . Form 1040x . Form 1040x AND the number in the box above is. Form 1040x . Form 1040x . Form 1040x THEN your standard deduction is. Form 1040x . Form 1040x . Form 1040x Single 1 $7,600   2 9,100 Married filing jointly 1 $13,400 or Qualifying 2 14,600 widow(er) with 3 15,800 dependent child 4 17,000 Married filing 1 $7,300 separately 2 8,500   3 9,700   4 10,900 Head of household 1 $10,450   2 11,950 *If someone else can claim you (or your spouse if filing jointly) as a dependent, use Table 20-3 instead. Form 1040x Table 20-3. Form 1040x Standard Deduction Worksheet for Dependents Use this worksheet only if someone else can claim you (or your spouse if filing jointly) as a dependent. Form 1040x Check the correct number of boxes below. Form 1040x Then go to the worksheet. Form 1040x You:   Born before January 2, 1949 □ Blind □ Your spouse, if claiming spouse's exemption: Born before January 2, 1949 □ Blind □ Total number of boxes checked 1. Form 1040x Enter your earned income (defined below). Form 1040x If none, enter -0-. Form 1040x 1. Form 1040x   2. Form 1040x Additional amount. Form 1040x 2. Form 1040x $350 3. Form 1040x Add lines 1 and 2. Form 1040x 3. Form 1040x   4. Form 1040x Minimum standard deduction. Form 1040x 4. Form 1040x $1,000 5. Form 1040x Enter the larger of line 3 or line 4. Form 1040x 5. Form 1040x   6. Form 1040x Enter the amount shown below for your filing status. Form 1040x Single or Married filing separately—$6,100 Married filing jointly—$12,200 Head of household—$8,950 6. Form 1040x   7. Form 1040x Standard deduction. Form 1040x         a. Form 1040x Enter the smaller of line 5 or line 6. Form 1040x If born after January 1, 1949, and not blind, stop here. Form 1040x This is your standard deduction. Form 1040x Otherwise, go on to line 7b. Form 1040x 7a. Form 1040x     b. Form 1040x If born before January 2, 1949, or blind, multiply $1,500 ($1,200 if married) by the number in the box above. Form 1040x 7b. Form 1040x     c. Form 1040x Add lines 7a and 7b. Form 1040x This is your standard deduction for 2013. Form 1040x 7c. Form 1040x   Earned income includes wages, salaries, tips, professional fees, and other compensation received for personal services you performed. Form 1040x It also includes any amount received as a scholarship that you must include in your income. Form 1040x Prev  Up  Next   Home   More Online Publications