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Free State Tax Filing Turbotax

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Free state tax filing turbotax 31. Free state tax filing turbotax   Tax on Unearned Income of Certain Children Table of Contents What's New Introduction Useful Items - You may want to see: Which Parent's Return To UseParents Who Do Not File a Joint Return Parent's Election To Report Child's Interest and DividendsEffect of Making the Election Figuring Child's Income Figuring Additional Tax Tax for Certain Children Who Have Unearned IncomeProviding Parental Information (Form 8615, lines A–C) Step 1. Free state tax filing turbotax Figuring the Child's Net Unearned Income (Form 8615, Part I) Step 2. Free state tax filing turbotax Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Step 3. Free state tax filing turbotax Figuring the Child's Tax (Form 8615, Part III) What's New Net Investment Income Tax. Free state tax filing turbotax . Free state tax filing turbotax  For tax years beginning after December 31, 2012, a child whose tax is figured on Form 8615 may be subject to the Net Investment Income Tax (NIIT). Free state tax filing turbotax NIIT is a 3. Free state tax filing turbotax 8% tax on the lesser of the net investment income or the excess of the child's modified adjusted gross income (MAGI) over the threshold amount. Free state tax filing turbotax Use Form 8960, Net Investment Income Tax, to figure this tax. Free state tax filing turbotax For more information on NIIT, go to www. Free state tax filing turbotax irs. Free state tax filing turbotax gov and enter “Net Investment Income Tax” in the search box. Free state tax filing turbotax Introduction This chapter discusses the following two rules that may affect the tax on unearned income of certain children. Free state tax filing turbotax If the child's interest and dividend income (including capital gain distributions) total less than $10,000, the child's parent may be able to choose to include that income on the parent's return rather than file a return for the child. Free state tax filing turbotax (See Parent's Election To Report Child's Interest and Dividends , later. Free state tax filing turbotax ) If the child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. Free state tax filing turbotax (See Tax for Certain Children Who Have Unearned Income , later. Free state tax filing turbotax ) For these rules, the term “child” includes a legally adopted child and a stepchild. Free state tax filing turbotax These rules apply whether or not the child is a dependent. Free state tax filing turbotax Useful Items - You may want to see: Publication 929 Tax Rules for Children and Dependents Form (and Instructions) 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends Which Parent's Return To Use If a child's parents are married to each other and file a joint return, use the joint return to figure the tax on the child's unearned income. Free state tax filing turbotax The tax rate and other return information from that return are used to figure the child's tax as explained later under Tax for Certain Children Who Have Unearned Income . Free state tax filing turbotax Parents Who Do Not File a Joint Return For parents who do not file a joint return, the following discussions explain which parent's tax return must be used to figure the tax. Free state tax filing turbotax Only the parent whose tax return is used can make the election described under Parent's Election To Report Child's Interest and Dividends . Free state tax filing turbotax Parents are married. Free state tax filing turbotax   If the child's parents file separate returns, use the return of the parent with the greater taxable income. Free state tax filing turbotax Parents not living together. Free state tax filing turbotax   If the child's parents are married to each other but not living together, and the parent with whom the child lives (the custodial parent) is considered unmarried, use the return of the custodial parent. Free state tax filing turbotax If the custodial parent is not considered unmarried, use the return of the parent with the greater taxable income. Free state tax filing turbotax   For an explanation of when a married person living apart from his or her spouse is considered unmarried, see Head of Household in chapter 2. Free state tax filing turbotax Parents are divorced. Free state tax filing turbotax   If the child's parents are divorced or legally separated, and the parent who had custody of the child for the greater part of the year (the custodial parent) has not remarried, use the return of the custodial parent. Free state tax filing turbotax Custodial parent remarried. Free state tax filing turbotax   If the custodial parent has remarried, the stepparent (rather than the noncustodial parent) is treated as the child's other parent. Free state tax filing turbotax Therefore, if the custodial parent and the stepparent file a joint return, use that joint return. Free state tax filing turbotax Do not use the return of the noncustodial parent. Free state tax filing turbotax   If the custodial parent and the stepparent are married, but file separate returns, use the return of the one with the greater taxable income. Free state tax filing turbotax If the custodial parent and the stepparent are married but not living together, the earlier discussion under Parents not living together applies. Free state tax filing turbotax Parents never married. Free state tax filing turbotax   If a child's parents have never been married to each other, but lived together all year, use the return of the parent with the greater taxable income. Free state tax filing turbotax If the parents did not live together all year, the rules explained earlier under Parents are divorced apply. Free state tax filing turbotax Widowed parent remarried. Free state tax filing turbotax   If a widow or widower remarries, the new spouse is treated as the child's other parent. Free state tax filing turbotax The rules explained earlier under Custodial parent remarried apply. Free state tax filing turbotax Parent's Election To Report Child's Interest and Dividends You may be able to elect to include your child's interest and dividend income (including capital gain distributions) on your tax return. Free state tax filing turbotax If you do, your child will not have to file a return. Free state tax filing turbotax You can make this election only if all the following conditions are met. Free state tax filing turbotax Your child was under age 19 (or under age 24 if a full-time student) at the end of the year. Free state tax filing turbotax Your child had income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). Free state tax filing turbotax The child's gross income was less than $10,000. Free state tax filing turbotax The child is required to file a return unless you make this election. Free state tax filing turbotax The child does not file a joint return for the year. Free state tax filing turbotax No estimated tax payment was made for the year, and no overpayment from the previous year (or from any amended return) was applied to this year under your child's name and social security number. Free state tax filing turbotax No federal income tax was taken out of your child's income under the backup withholding rules. Free state tax filing turbotax You are the parent whose return must be used when applying the special tax rules for children. Free state tax filing turbotax (See Which Parent's Return To Use , earlier. Free state tax filing turbotax ) These conditions are also shown in Figure 31-A. Free state tax filing turbotax Certain January 1 birthdays. Free state tax filing turbotax   A child born on January 1, 1995, is considered to be age 19 at the end of 2013. Free state tax filing turbotax You cannot make this election for such a child unless the child was a full-time student. Free state tax filing turbotax   A child born on January 1, 1990, is considered to be age 24 at the end of 2013. Free state tax filing turbotax You cannot make this election for such a child. Free state tax filing turbotax Full-time student. Free state tax filing turbotax   A full-time student is a child who during some part of each of any 5 calendar months of the year was enrolled as a full-time student at a school, or took a full-time on-farm training course given by a school or a state, county, or local government agency. Free state tax filing turbotax A school includes a technical, trade, or mechanical school. Free state tax filing turbotax It does not include an on-the-job training course, correspondence school, or school offering courses only through the Internet. Free state tax filing turbotax How to make the election. Free state tax filing turbotax   Make the election by attaching Form 8814 to your Form 1040. Free state tax filing turbotax (If you make this election, you cannot file Form 1040A or Form 1040EZ. Free state tax filing turbotax ) Attach a separate Form 8814 for each child for whom you make the election. Free state tax filing turbotax You can make the election for one or more children and not for others. Free state tax filing turbotax Effect of Making the Election The federal income tax on your child's income may be more if you make the Form 8814 election. Free state tax filing turbotax Rate may be higher. Free state tax filing turbotax   If your child received qualified dividends or capital gain distributions, you may pay up to $100 more tax if you make this election instead of filing a separate tax return for the child. Free state tax filing turbotax This is because the tax rate on the child's income between $1,000 and $2,000 is 10% if you make this election. Free state tax filing turbotax However, if you file a separate return for the child, the tax rate may be as low as 0% (zero percent) because of the preferential tax rates for qualified dividends and capital gain distributions. Free state tax filing turbotax Deductions you cannot take. Free state tax filing turbotax   By making the Form 8814 election, you cannot take any of the following deductions that the child would be entitled to on his or her return. Free state tax filing turbotax The additional standard deduction if the child is blind. Free state tax filing turbotax The deduction for a penalty on an early withdrawal of your child's savings. Free state tax filing turbotax Itemized deductions (such as your child's investment expenses or charitable contributions). Free state tax filing turbotax Reduced deductions or credits. Free state tax filing turbotax   If you use Form 8814, your increased adjusted gross income may reduce certain deductions or credits on your return including the following. Free state tax filing turbotax Deduction for contributions to a traditional individual retirement arrangement (IRA). Free state tax filing turbotax Deduction for student loan interest. Free state tax filing turbotax Itemized deductions for medical expenses, casualty and theft losses, and certain miscellaneous expenses. Free state tax filing turbotax Credit for child and dependent care expenses. Free state tax filing turbotax Child tax credit. Free state tax filing turbotax Education tax credits. Free state tax filing turbotax Earned income credit. Free state tax filing turbotax Penalty for underpayment of estimated tax. Free state tax filing turbotax   If you make this election for 2013 and did not have enough tax withheld or pay enough estimated tax to cover the tax you owe, you may be subject to a penalty. Free state tax filing turbotax If you plan to make this election for 2014, you may need to increase your federal income tax withholding or your estimated tax payments to avoid the penalty. Free state tax filing turbotax See chapter 4 for more information. Free state tax filing turbotax Figuring Child's Income Use Form 8814, Part I, to figure your child's interest and dividend income to report on your return. Free state tax filing turbotax Only the amount over $2,000 is added to your income. Free state tax filing turbotax The amount over $2,000 is shown on Form 8814, line 6. Free state tax filing turbotax Unless the child's income includes qualified dividends or capital gain distributions (discussed next), the same amount is shown on Form 8814, line 12. Free state tax filing turbotax Include the amount from Form 8814, line 12, on Form 1040, line 21. Free state tax filing turbotax Enter “Form 8814” on the dotted line next to line 21. Free state tax filing turbotax If you file more than one Form 8814, include the total amounts from line 12 of all your Forms 8814 on Form 1040, line 21. Free state tax filing turbotax Capital gain distributions and qualified dividends. Free state tax filing turbotax   If your child's dividend income included any capital gain distributions, see Capital gain distributions under Figuring Child's Income in Publication 929, Part 2. Free state tax filing turbotax If your child's dividend income included any qualified dividends, see Qualified dividends under Figuring Child's Income in Publication 929, Part 2. Free state tax filing turbotax Figuring Additional Tax Use Form 8814, Part II, to figure the tax on the $2,000 of your child's interest and dividends that you do not include in your income. Free state tax filing turbotax This tax is added to the tax figured on your income. Free state tax filing turbotax This additional tax is the smaller of: 10% × (your child's gross income − $1,000), or $100. Free state tax filing turbotax Include the amount from line 15 of all your Forms 8814 in the total on Form 1040, line 44. Free state tax filing turbotax Check box a on Form 1040, line 44. Free state tax filing turbotax Figure 31-A. Free state tax filing turbotax Can You Include Your Child's Income On Your Tax Return? Please click here for the text description of the image. Free state tax filing turbotax Figure 31–A. Free state tax filing turbotax Can You Include Your Child's Income On Your Tax Return? Tax for Certain Children Who Have Unearned Income If a child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. Free state tax filing turbotax If the parent does not or cannot choose to include the child's income on the parent's return, use Form 8615 to figure the child's tax. Free state tax filing turbotax Attach the completed form to the child's Form 1040 or Form 1040A. Free state tax filing turbotax When Form 8615 must be filed. Free state tax filing turbotax   Form 8615 must be filed for a child if all of the following statements are true. Free state tax filing turbotax The child's investment income was more than $2,000. Free state tax filing turbotax The child is required to file a return for 2013. Free state tax filing turbotax The child either: Was under age 18 at the end of the year, Was age 18 at the end of the year and did not have earned income that was more than half of his or her support, or Was over age 18 and under age 24 at the end of the year, was a full-time student, and did not have earned income that was more than half of his or her support. Free state tax filing turbotax At least one of the child's parents was alive at the end of 2013. Free state tax filing turbotax The child does not file a joint return for 2013. Free state tax filing turbotax These conditions are also shown in  Figure 31-B. Free state tax filing turbotax Earned income. Free state tax filing turbotax   Earned income includes salaries, wages, tips, and other payments received for personal services performed. Free state tax filing turbotax It does not include unearned income as defined later in this chapter. Free state tax filing turbotax Support. Free state tax filing turbotax   Your child's support includes all amounts spent to provide the child with food, lodging, clothing, education, medical and dental care, recreation, transportation, and similar necessities. Free state tax filing turbotax To figure your child's support, count support provided by you, your child, and others. Free state tax filing turbotax However, a scholarship received by your child is not considered support if your child is a full-time student. Free state tax filing turbotax See chapter 3 for details about support. Free state tax filing turbotax Certain January 1 birthdays. Free state tax filing turbotax   Use the following chart to determine whether certain children with January 1 birthdays meet condition 3 under When Form 8615 must be filed. Free state tax filing turbotax Figure 31-B. Free state tax filing turbotax Do You Have To Use Form 8615 To Figure Your Child's Tax? Please click here for the text description of the image. Free state tax filing turbotax Figure 31-B. Free state tax filing turbotax Do You Have To Use Form 8615 To Figure Your Child's Tax?    IF a child was born on. Free state tax filing turbotax . Free state tax filing turbotax . Free state tax filing turbotax THEN, at the end of 2013, the child is considered to be. Free state tax filing turbotax . Free state tax filing turbotax . Free state tax filing turbotax January 1, 1996 18* January 1, 1995 19** January 1, 1990 24*** *This child is not under age 18. Free state tax filing turbotax The child meets condition 3 only if the child did not have earned income that was more than half of the child's support. Free state tax filing turbotax  **This child meets condition 3 only if the child was a full-time student who did not have earned income that was more than half of the child's support. Free state tax filing turbotax  ***Do not use Form 8615 for this child. Free state tax filing turbotax Providing Parental Information (Form 8615, lines A–C) On Form 8615, lines A and B, enter the parent's name and social security number. Free state tax filing turbotax (If the parents filed a joint return, enter the name and social security number listed first on the joint return. Free state tax filing turbotax ) On line C, check the box for the parent's filing status. Free state tax filing turbotax See Which Parent's Return To Use at the beginning of this chapter for information on which parent's return information must be used on Form 8615. Free state tax filing turbotax Parent with different tax year. Free state tax filing turbotax   If the parent and the child do not have the same tax year, complete Form 8615 using the information on the parent's return for the tax year that ends in the child's tax year. Free state tax filing turbotax Parent's return information not known timely. Free state tax filing turbotax   If the information needed from the parent's return is not known by the time the child's return is due (usually April 15), you can file the return using estimates. Free state tax filing turbotax   You can use any reasonable estimate. Free state tax filing turbotax This includes using information from last year's return. Free state tax filing turbotax If you use an estimated amount on Form 8615, enter “Estimated” on the line next to the amount. Free state tax filing turbotax    When you get the correct information, file an amended return on Form 1040X, Amended U. Free state tax filing turbotax S. Free state tax filing turbotax Individual Income Tax Return. Free state tax filing turbotax   Instead of using estimates, you can get an automatic 6-month extension of time to file if, by the date your return is due, you file Form 4868, Application for Automatic Extension of Time To File U. Free state tax filing turbotax S. Free state tax filing turbotax Individual Income Tax Return. Free state tax filing turbotax Extensions are discussed in chapter 1. Free state tax filing turbotax Step 1. Free state tax filing turbotax Figuring the Child's Net Unearned Income (Form 8615, Part I) The first step in figuring a child's tax using Form 8615 is to figure the child's net unearned income. Free state tax filing turbotax To do that, use Form 8615, Part I. Free state tax filing turbotax Line 1 (unearned income). Free state tax filing turbotax   If the child had no earned income, enter on this line the adjusted gross income shown on the child's return. Free state tax filing turbotax Adjusted gross income is shown on Form 1040, line 38, or Form 1040A, line 22. Free state tax filing turbotax Form 1040EZ cannot be used if Form 8615 must be filed. Free state tax filing turbotax   If the child had earned income, figure the amount to enter on Form 8615, line 1, by using the worksheet in the instructions for the form. Free state tax filing turbotax   However, if the child has: excluded any foreign earned income, deducted either a loss from self-employment, or deducted a net operating loss from another year, then use the Alternate Worksheet for Form 8615, Line 1, in Publication 929 to figure the amount to enter on Form 8615, line 1. Free state tax filing turbotax Unearned income defined. Free state tax filing turbotax   Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually done. Free state tax filing turbotax It includes taxable interest, dividends (including capital gain distributions), capital gains, unemployment compensation, the taxable part of social security and pension payments, and certain distributions from trusts. Free state tax filing turbotax Unearned income includes amounts produced by assets the child obtained with earned income (such as interest on a savings account into which the child deposited wages). Free state tax filing turbotax Nontaxable income. Free state tax filing turbotax   For this purpose, unearned income includes only amounts the child must include in total income. Free state tax filing turbotax Nontaxable unearned income, such as tax-exempt interest and the nontaxable part of social security and pension payments, is not included. Free state tax filing turbotax Income from property received as a gift. Free state tax filing turbotax   A child's unearned income includes all income produced by property belonging to the child. Free state tax filing turbotax This is true even if the property was transferred to the child, regardless of when the property was transferred or purchased or who transferred it. Free state tax filing turbotax   A child's unearned income includes income produced by property given as a gift to the child. Free state tax filing turbotax This includes gifts to the child from grandparents or any other person and gifts made under the Uniform Gift to Minors Act. Free state tax filing turbotax Example. Free state tax filing turbotax Amanda Black, age 13, received the following income. Free state tax filing turbotax Dividends — $800 Wages — $2,100 Taxable interest — $1,200 Tax-exempt interest — $100 Net capital gains — $100 The dividends were qualified dividends on stock given to her by her grandparents. Free state tax filing turbotax Amanda's unearned income is $2,100. Free state tax filing turbotax This is the total of the dividends ($800), taxable interest ($1,200), and net capital gains ($100). Free state tax filing turbotax Her wages are earned (not unearned) income because they are received for work actually done. Free state tax filing turbotax Her tax-exempt interest is not included because it is nontaxable. Free state tax filing turbotax Trust income. Free state tax filing turbotax   If a child is the beneficiary of a trust, distributions of taxable interest, dividends, capital gains, and other unearned income from the trust are unearned income to the child. Free state tax filing turbotax   However, for purposes of completing Form 8615, a taxable distribution from a qualified disability trust is considered earned income, not unearned income. Free state tax filing turbotax Line 2 (deductions). Free state tax filing turbotax   If the child does not itemize deductions on Schedule A (Form 1040), enter $2,000 on line 2. Free state tax filing turbotax   If the child does itemize deductions, enter on line 2 the larger of: $1,000 plus the portion of the child's itemized deductions on Schedule A (Form 1040), line 29, that are directly connected with the production of unearned income entered on line 1, or $2,000. Free state tax filing turbotax Directly connected. Free state tax filing turbotax   Itemized deductions are directly connected with the production of unearned income if they are for expenses paid to produce or collect taxable income or to manage, conserve, or maintain property held for producing income. Free state tax filing turbotax These expenses include custodian fees and service charges, service fees to collect taxable interest and dividends, and certain investment counsel fees. Free state tax filing turbotax   These expenses are added to certain other miscellaneous itemized deductions on Schedule A (Form 1040). Free state tax filing turbotax Only the amount greater than 2% of the child's adjusted gross income can be deducted. Free state tax filing turbotax See chapter 28 for more information. Free state tax filing turbotax Example 1. Free state tax filing turbotax Roger, age 12, has unearned income of $8,000, no other income, no adjustments to income, and itemized deductions of $300 (net of the 2% limit) that are directly connected with his unearned income. Free state tax filing turbotax His adjusted gross income is $8,000, which is entered on Form 1040, line 38, and on Form 8615, line 1. Free state tax filing turbotax Roger enters $2,000 on line 2 because that is more than the total of $1,000 plus his directly connected itemized deductions of $300. Free state tax filing turbotax Example 2. Free state tax filing turbotax Eleanor, age 8, has unearned income of $16,000 and an early withdrawal penalty of $100. Free state tax filing turbotax She has no other income. Free state tax filing turbotax She has itemized deductions of $1,050 (net of the 2% limit) that are directly connected with the production of her unearned income. Free state tax filing turbotax Her adjusted gross income, entered on line 1, is $15,900 ($16,000 − $100). Free state tax filing turbotax The amount on line 2 is $2,050. Free state tax filing turbotax This is the larger of: $1,000 plus the $1,050 of directly connected itemized deductions, or $2,000. Free state tax filing turbotax Line 3. Free state tax filing turbotax   Subtract line 2 from line 1 and enter the result on this line. Free state tax filing turbotax If zero or less, do not complete the rest of the form. Free state tax filing turbotax However, you must still attach Form 8615 to the child's tax return. Free state tax filing turbotax Figure the tax on the child's taxable income in the normal manner. Free state tax filing turbotax Line 4 (child's taxable income). Free state tax filing turbotax   Enter on line 4 the child's taxable income from Form 1040, line 43, or Form 1040A, line 27. Free state tax filing turbotax   However, if the child files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, see the Form 8615 instructions or Pub. Free state tax filing turbotax 929. Free state tax filing turbotax Line 5 (net unearned income). Free state tax filing turbotax   A child's net unearned income cannot be more than his or her taxable income. Free state tax filing turbotax Enter on Form 8615, line 5, the smaller of line 3 or line 4. Free state tax filing turbotax This is the child's net unearned income. Free state tax filing turbotax   If zero or less, do not complete the rest of the form. Free state tax filing turbotax However, you must still attach Form 8615 to the child's tax return. Free state tax filing turbotax Figure the tax on the child's taxable income in the normal manner. Free state tax filing turbotax Step 2. Free state tax filing turbotax Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) The next step in completing Form 8615 is to figure a tentative tax on the child's net unearned income at the parent's tax rate. Free state tax filing turbotax The tentative tax at the parent's tax rate is the difference between the tax on the parent's taxable income figured with the child's net unearned income (plus the net unearned income of any other child whose Form 8615 includes the tax return information of that parent) and the tax figured without it. Free state tax filing turbotax When figuring the tentative tax at the parent's tax rate on Form 8615, do not refigure any of the exclusions, deductions, or credits on the parent's return because of the child's net unearned income. Free state tax filing turbotax For example, do not refigure the medical expense deduction. Free state tax filing turbotax Figure the tentative tax on Form 8615, lines 6 through 13. Free state tax filing turbotax Note. Free state tax filing turbotax If the child or parent has any capital gains or losses, get Publication 929 for help in completing Form 8615, Part II. Free state tax filing turbotax Line 6 (parent's taxable income). Free state tax filing turbotax   Enter on line 6 the parent's taxable income from Form 1040, line 43, Form 1040A, line 27, or Form 1040EZ, line 6. Free state tax filing turbotax   If the Foreign Earned Income Tax Worksheet (in the Form 1040 instructions) was used to figure the parent's tax, enter the amount from line 3 of that worksheet instead of the parent's taxable income. Free state tax filing turbotax Line 7 (net unearned income of other children). Free state tax filing turbotax   If the tax return information of the parent is also used on any other child's Form 8615, enter on line 7 the total of the amounts from line 5 of all the other children's Forms 8615. Free state tax filing turbotax Do not include the amount from line 5 of the Form 8615 being completed. Free state tax filing turbotax Example. Free state tax filing turbotax Paul and Jane Persimmon have three children, Sharon, Jerry, and Mike, who must attach Form 8615 to their tax returns. Free state tax filing turbotax The children's net unearned income amounts on line 5 of their Forms 8615 are: Sharon — $800 Jerry — $600 Mike — $1,000 Line 7 of Sharon's Form 8615 will show $1,600, the total of the amounts on line 5 of Jerry's and Mike's Forms 8615. Free state tax filing turbotax Line 7 of Jerry's Form 8615 will show $1,800 ($800 + $1,000). Free state tax filing turbotax Line 7 of Mike's Form 8615 will show $1,400 ($800 + $600). Free state tax filing turbotax Other children's information not available. Free state tax filing turbotax   If the net unearned income of the other children is not available when the return is due, either file the return using estimates or get an extension of time to file. Free state tax filing turbotax See Parent's return information not known timely , earlier. Free state tax filing turbotax Line 11 (tentative tax). Free state tax filing turbotax   Subtract line 10 from line 9 and enter the result on this line. Free state tax filing turbotax This is the tentative tax. Free state tax filing turbotax   If line 7 is blank, skip lines 12a and 12b and enter the amount from line 11 on line 13. Free state tax filing turbotax Also skip the discussion for lines 12a and 12b that follows. Free state tax filing turbotax Lines 12a and 12b (dividing the tentative tax). Free state tax filing turbotax   If an amount is entered on line 7, divide the tentative tax shown on line 11 among the children according to each child's share of the total net unearned income. Free state tax filing turbotax This is done on lines 12a, 12b, and 13. Free state tax filing turbotax Add the amount on line 7 to the amount on line 5 and enter the total on line 12a. Free state tax filing turbotax Divide the amount on line 5 by the amount on line 12a and enter the result, as a decimal, on line 12b. Free state tax filing turbotax Example. Free state tax filing turbotax In the earlier example under Line 7 (net unearned income of other children), Sharon's Form 8615 shows $1,600 on line 7. Free state tax filing turbotax The amount entered on line 12a is $2,400, the total of the amounts on lines 5 and 7 ($800 + $1,600). Free state tax filing turbotax The decimal on line 12b is  . Free state tax filing turbotax 333, figured as follows and rounded to three places. Free state tax filing turbotax   $800 = . Free state tax filing turbotax 333     $2,400   Step 3. Free state tax filing turbotax Figuring the Child's Tax (Form 8615, Part III) The final step in figuring a child's tax using Form 8615 is to determine the larger of: The total of: The child's share of the tentative tax based on the parent's tax rate, plus The tax on the child's taxable income in excess of net unearned income, figured at the child's tax rate, or The tax on the child's taxable income, figured at the child's tax rate. Free state tax filing turbotax This is the child's tax. Free state tax filing turbotax It is figured on Form 8615, lines 14 through 18. Free state tax filing turbotax Alternative minimum tax. Free state tax filing turbotax   A child may be subject to alternative minimum tax (AMT) if he or she has certain items given preferential treatment under the tax law. Free state tax filing turbotax See Alternative Minimum Tax (AMT) in chapter 30. Free state tax filing turbotax    For more information on who is liable for AMT and how to figure it, see Form 6251, Alternative Minimum Tax—Individuals. Free state tax filing turbotax For information on special limits that apply to a child who files Form 6251, see Certain Children Under Age 24 in the Instructions for Form 6251. Free state tax filing turbotax Prev  Up  Next   Home   More Online Publications
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The Free State Tax Filing Turbotax

Free state tax filing turbotax 3. Free state tax filing turbotax   Credit for Withholding and Estimated Tax for 2013 Table of Contents Introduction Topics - This chapter discusses: WithholdingForm W-2 Form W-2G The 1099 Series Form Not Correct Form Received After Filing Separate Returns Fiscal Years (FY) Estimated TaxSeparate Returns Divorced Taxpayers Excess Social Security or Railroad Retirement Tax WithholdingJoint returns. Free state tax filing turbotax Worksheet for Nonrailroad Employees Worksheets for Railroad Employees Introduction When you file your 2013 income tax return, take credit for all the income tax and excess social security or railroad retirement tax withheld from your salary, wages, pensions, etc. Free state tax filing turbotax Also take credit for the estimated tax you paid for 2013. Free state tax filing turbotax These credits are subtracted from your total tax. Free state tax filing turbotax Because these credits are refundable, you should file a return and claim these credits, even if you do not owe tax. Free state tax filing turbotax If the total of your withholding and your estimated tax payments for any payment period is less than the amount you needed to pay by the due date for that period, you may be charged a penalty, even if the total of these credits is more than your tax for the year. Free state tax filing turbotax Topics - This chapter discusses: How to take credit for withholding, How to take credit for estimated taxes you paid, and How to take credit for excess social security, Medicare, or railroad retirement tax withholding. Free state tax filing turbotax Withholding If you had income tax withheld during 2013, you generally should be sent a statement by January 31, 2014, showing your income and the tax withheld. Free state tax filing turbotax Depending on the source of your income, you will receive: Form W-2, Wage and Tax Statement, Form W-2G, Certain Gambling Winnings, or A form in the 1099 series. Free state tax filing turbotax Form W-2 Your employer is required to provide or send Form W-2 to you no later than January 31, 2014. Free state tax filing turbotax You should receive a separate Form W-2 from each employer you worked for. Free state tax filing turbotax If you stopped working before the end of 2013, your employer could have given you your Form W-2 at any time after you stopped working. Free state tax filing turbotax However, your employer must provide or send it to you by January 31, 2014. Free state tax filing turbotax If you ask for the form, your employer must send it to you within 30 days after receiving your written request or within 30 days after your final wage payment, whichever is later. Free state tax filing turbotax If you have not received your Form W-2 by January 31, contact your employer or payer to request a copy. Free state tax filing turbotax If you still do not get the form by February 15, the IRS can help you by requesting the form from your employer. Free state tax filing turbotax The phone number for the IRS is listed in chapter 5. Free state tax filing turbotax You will be asked for the following information. Free state tax filing turbotax Your name, address, city and state, zip code, and social security number. Free state tax filing turbotax Your employer's name, address, city, state, zip code, and the employer's identification number (if known). Free state tax filing turbotax An estimate of the wages you earned, the federal income tax withheld, and the period you worked for that employer. Free state tax filing turbotax The estimate should be based on year-to-date information from your final pay stub or leave-and-earnings statement, if possible. Free state tax filing turbotax Form W-2 shows your total pay and other compensation and the income tax, social security tax, and Medicare tax that was withheld during the year. Free state tax filing turbotax Total the federal income tax withheld (shown in box 2 of all Forms W-2 received) and enter that amount on the appropriate line of your tax return. Free state tax filing turbotax In addition, Form W-2 is used to report any taxable sick pay you received and any income tax withheld from your sick pay. Free state tax filing turbotax Your sick pay may be combined with other wages in one Form W-2 or you may receive a separate Form W-2 for sick pay. Free state tax filing turbotax If you file a paper tax return, attach Copy B of Form W-2 to your return. Free state tax filing turbotax Form W-2G If you had gambling winnings in 2013, the payer may have withheld income tax. Free state tax filing turbotax If tax was withheld, the payer will give you a Form W-2G showing the amount you won and the amount of tax withheld. Free state tax filing turbotax Report the amounts you won on line 21 of Form 1040. Free state tax filing turbotax Take credit for the tax withheld on line 62 of Form 1040. Free state tax filing turbotax If you had gambling winnings, you must use Form 1040; you cannot use Form 1040A or Form 1040EZ. Free state tax filing turbotax Gambling losses can be deducted on Schedule A (Form 1040) as a miscellaneous itemized deduction. Free state tax filing turbotax However, you cannot deduct more than the gambling winnings you report on Form 1040. Free state tax filing turbotax File Form W-2G with your income tax return only if it shows any federal income tax withheld in box 2. Free state tax filing turbotax The 1099 Series Most forms in the 1099 series are not filed with your return. Free state tax filing turbotax In general, these forms should be furnished to you by January 31, 2014. Free state tax filing turbotax Unless instructed to file any of these forms with your return, keep them for your records. Free state tax filing turbotax There are several different forms in this series, including: Form 1099-B, Proceeds From Broker and Barter Exchange Transactions; Form 1099-C, Cancellation of Debt; Form 1099-DIV, Dividends and Distributions; Form 1099-G, Certain Government Payments; Form 1099-INT, Interest Income; Form 1099-K, Payment Card and Third-Party Network Transactions; Form 1099-MISC, Miscellaneous Income; Form 1099-OID, Original Issue Discount; Form 1099-PATR, Taxable Distributions Received From Cooperatives; Form 1099-Q, Payments From Qualified Education Programs (Under Sections 529 and 530); Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Free state tax filing turbotax ; Form SSA-1099, Social Security Benefit Statement; and Form RRB-1099, Payments by the Railroad Retirement Board. Free state tax filing turbotax If you received the types of income reported on some forms in the 1099 series, you may not be able to use Form 1040A or Form 1040EZ. Free state tax filing turbotax See the instructions to these forms for details. Free state tax filing turbotax Reporting your withholding. Free state tax filing turbotax   Report on your tax return all federal income tax withholding shown on your Form 1099, Form SSA-1099, and/or Form RRB-1099. Free state tax filing turbotax Include the amount withheld in the total on line 62 of Form 1040, line 36 of Form 1040A, or line 7 of Form 1040EZ. Free state tax filing turbotax Form 1099-R. Free state tax filing turbotax   Attach Form 1099-R to your paper return if federal income tax withholding is shown in box 4. Free state tax filing turbotax Do not attach any other Form 1099. Free state tax filing turbotax Form Not Correct If you receive a form with incorrect information, you should ask the payer for a corrected form. Free state tax filing turbotax Call the telephone number or write to the address given for the payer on the form. Free state tax filing turbotax The corrected Form W-2G or Form 1099 you receive will have an “X” in the “CORRECTED” box at the top of the form. Free state tax filing turbotax A special form, Form W-2c, Corrected Wage and Tax Statement, is used to correct a Form W-2. Free state tax filing turbotax In certain situations, you will receive two forms in place of the original incorrect form. Free state tax filing turbotax This will happen when your taxpayer identification number is wrong or missing, your name and address are wrong, or you received the wrong type of form (for example, a Form 1099-DIV instead of a Form 1099-INT). Free state tax filing turbotax One new form you receive will be the same incorrect form or have the same incorrect information, but all money amounts will be zero. Free state tax filing turbotax This form will have an “X” in the “CORRECTED” box at the top of the form. Free state tax filing turbotax The second new form should have all the correct information, prepared as though it is the original (the “CORRECTED” box will not be checked). Free state tax filing turbotax Form Received After Filing If you file your return and you later receive a form for income that you did not include on your return, report the income and take credit for any income tax withheld by filing Form 1040X, Amended U. Free state tax filing turbotax S. Free state tax filing turbotax Individual Income Tax Return. Free state tax filing turbotax Separate Returns If you are married but file a separate return, you can take credit only for the tax withheld from your own income. Free state tax filing turbotax Do not include any amount withheld from your spouse's income. Free state tax filing turbotax However, different rules may apply if you live in a community property state. Free state tax filing turbotax Community property states. Free state tax filing turbotax   The following are community property states. Free state tax filing turbotax Arizona. Free state tax filing turbotax California. Free state tax filing turbotax Idaho. Free state tax filing turbotax Louisiana. Free state tax filing turbotax Nevada. Free state tax filing turbotax New Mexico. Free state tax filing turbotax Texas. Free state tax filing turbotax Washington. Free state tax filing turbotax Wisconsin. Free state tax filing turbotax Generally, if you live in a community property state and file a separate return, you and your spouse each must report half of all community income in addition to your own separate income. Free state tax filing turbotax If you are required to report half of all community income, you are entitled to take credit for half of all taxes withheld on the community income. Free state tax filing turbotax If you were divorced during the year, each of you generally must report half the community income and can take credit for half the withholding on that community income for the period before the divorce. Free state tax filing turbotax   For more information on these rules, and some exceptions, see Publication 555, Community Property. Free state tax filing turbotax Fiscal Years (FY) If you file your tax return on the basis of a fiscal year (a 12-month period ending on the last day of any month except December), you must follow special rules, described below, to determine your credit for federal income tax withholding. Free state tax filing turbotax Fiscal year withholding. Free state tax filing turbotax    You can claim credit on your tax return only for the tax withheld during the calendar year (CY) ending within your fiscal year. Free state tax filing turbotax You cannot claim credit for any of the tax withheld during the calendar year beginning in your fiscal year. Free state tax filing turbotax You will be able to claim credit for that withholding on your return for your next fiscal year. Free state tax filing turbotax   The Form W-2 or 1099 you receive for the calendar year that ends during your fiscal year will show the tax withheld and the income you received during that calendar year. Free state tax filing turbotax   Although you take credit for all the withheld tax shown on the form, report only the part of the income shown on the form that you received during your fiscal year. Free state tax filing turbotax Add to that the income you received during the rest of your fiscal year. Free state tax filing turbotax Example. Free state tax filing turbotax Miles Hanson files his return for a fiscal year ending June 30, 2013. Free state tax filing turbotax In January 2013, he received a Form W-2 that showed that his wages for 2012 were $31,200 and that his income tax withheld was $3,380. Free state tax filing turbotax His records show that he had received $15,000 of the wages by June 30, 2012, and $16,200 from July 1 through December 31, 2012. Free state tax filing turbotax See Table 3-1 . Free state tax filing turbotax On his return for the fiscal year ending June 30, 2013, Miles will report the $16,200 he was paid in July through December of 2012, plus the $18,850 he was paid during the rest of the fiscal year, January 1, 2013, through June 30, 2013. Free state tax filing turbotax However, he takes credit for all $3,380 that was withheld during 2012. Free state tax filing turbotax On his return for the fiscal year ending June 30, 2012, he reported the $15,000 he was paid in January through June 2012, but took no credit for the tax withheld during that time. Free state tax filing turbotax On his return for the fiscal year ending June 30, 2014, he will take the credit for any tax withheld during 2013 but not for any tax withheld during 2014. Free state tax filing turbotax Table 3-1. Free state tax filing turbotax Example for Fiscal Year Ending June 30, 2013—Miles Hanson Date Form W-2 Miles' records Tax return for FY ending 6/30/20121 Tax return for FY ending 6/30/2013 Wages With- holding Wages With- holding Wages With- holding Wages With- holding CY 20122 $31,200 $3,380             1/1/2012 –  6/30/2012     $15,000 $1,600 $15,000       7/1/2012 –  12/31/2012     $16,200 $1,780     $16,200 $3,380 CY 2013 $37,700 $4,316 3             1/1/2013 –  6/30/2013     $18,850 $2,158     $18,850   7/1/2013 –  12/31/2013     $18,850 4 $2,158         1Miles' tax return for FY ending 6/30/2012 also included his wages for 7/1–12/31/2011 and the withholding shown on his 2011 Form W-2. Free state tax filing turbotax  2Calendar year (January 1 – December 31). Free state tax filing turbotax   3Withholding shown on 2013 Form W-2 ($4,316) will be included in Miles' tax return for FY ending 6/30/2014, the fiscal year in which calendar year 2013 ends. Free state tax filing turbotax   4Wages for 7/1–12/31/2013 ($18,850) will be included in Miles' tax return for FY ending 6/30/2014, the fiscal year in which the wages were received. Free state tax filing turbotax Backup withholding. Free state tax filing turbotax   If income tax has been withheld under the backup withholding rule, take credit for it on your tax return for the fiscal year in which you received the income. Free state tax filing turbotax Example. Free state tax filing turbotax Emily Smith's records show that she received income in November 2013 and February 2014 from which there was backup withholding ($100 and $50, respectively). Free state tax filing turbotax Emily takes credit for the entire $150 of backup withholding on her tax return for the fiscal year ending September 30, 2014. Free state tax filing turbotax Estimated Tax Take credit for all your estimated tax payments for 2013 on line 63 of Form 1040 or line 37 of Form 1040A. Free state tax filing turbotax Include any overpayment from 2012 that you had credited to your 2013 estimated tax. Free state tax filing turbotax You must use Form 1040 or Form 1040A if you paid estimated tax. Free state tax filing turbotax You cannot file Form 1040EZ. Free state tax filing turbotax If you were a beneficiary of an estate or trust, you should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Free state tax filing turbotax , from the fiduciary. Free state tax filing turbotax If you have estimated taxes credited to you from the estate or trust (from Schedule K-1 (Form 1041)), you must report the estimated taxes on Schedule E (Form 1040). Free state tax filing turbotax On the dotted line next to the entry space for line 37 of Schedule E (Form 1040), enter “ES payment claimed” and the amount. Free state tax filing turbotax However, do not include this amount in the total on line 37. Free state tax filing turbotax Instead, enter the amount on Form 1040, line 63. Free state tax filing turbotax This estimated tax payment for 2013 is treated as being made by you on January 15, 2014. Free state tax filing turbotax Name changed. Free state tax filing turbotax   If you changed your name, and you made estimated tax payments using your former name, attach a statement to the front of your paper tax return indicating: When you made the payments, The amount of each payment, Your name when you made the payments, and The social security number under which you made the payments. Free state tax filing turbotax  The statement should cover payments you made jointly with your spouse as well as any you made separately. Free state tax filing turbotax   Be sure to report the change to your local Social Security Administration office before filing your 2014 tax return. Free state tax filing turbotax This prevents delays in processing your return and issuing refunds. Free state tax filing turbotax It also safeguards your future social security benefits. Free state tax filing turbotax For more information, call the Social Security Administration at 1-800-772-1213. Free state tax filing turbotax Separate Returns If you and your spouse made separate estimated tax payments for 2013 and you file separate returns, you can take credit only for your own payments. Free state tax filing turbotax If you made joint estimated tax payments, you must decide how to divide the payments between your returns. Free state tax filing turbotax One of you can claim all of the estimated tax paid and the other none, or you can divide it in any other way you agree on. Free state tax filing turbotax If you cannot agree, you must divide the payments in proportion to each spouse's individual tax as shown on your separate returns for 2013. Free state tax filing turbotax Example. Free state tax filing turbotax James and Evelyn Brown made joint estimated tax payments for 2013 totaling $3,000. Free state tax filing turbotax They file separate 2013 Forms 1040. Free state tax filing turbotax James' tax is $4,000 and Evelyn's is $1,000. Free state tax filing turbotax If they do not agree on how to divide the $3,000, they must divide it proportionately between their returns. Free state tax filing turbotax Because James' tax ($4,000) is 80% of the total tax ($5,000), his share of the estimated tax is $2,400 (80% of $3,000). Free state tax filing turbotax The balance, $600 (20% of $3,000), is Evelyn's share. Free state tax filing turbotax Divorced Taxpayers If you made joint estimated tax payments for 2013 and you were divorced during the year, either you or your former spouse can claim all of the joint payments, or you each can claim part of them. Free state tax filing turbotax If you cannot agree on how to divide the payments, you must divide them in proportion to each spouse's individual tax as shown on your separate returns for 2013. Free state tax filing turbotax See Example earlier under Separate Returns. Free state tax filing turbotax If you claim any of the joint payments on your tax return, enter your former spouse's social security number (SSN) in the space provided at the top of page 1 of Form 1040 or Form 1040A. Free state tax filing turbotax If you divorced and remarried in 2013, enter your present spouse's SSN in that space. Free state tax filing turbotax Enter your former spouse's SSN, followed by “DIV,” under Payments to the left of Form 1040, line 63, or in the blank space to the left of Form 1040A, line 37. Free state tax filing turbotax Excess Social Security or Railroad Retirement Tax Withholding Most employers must withhold social security tax from your wages. Free state tax filing turbotax In some cases, however, the federal government and state and local governments do not have to withhold social security tax from their employees' wages. Free state tax filing turbotax If you work for a railroad employer, that employer must withhold tier 1 railroad retirement (RRTA) tax and tier 2 RRTA tax. Free state tax filing turbotax Two or more employers. Free state tax filing turbotax   If you worked for two or more employers in 2013, too much social security tax or tier 1 RRTA tax may have been withheld from your pay. Free state tax filing turbotax You may be able to claim the excess as a credit against your income tax when you file your return. Free state tax filing turbotax Table 3-2 shows the maximum amount that should have been withheld for any of these taxes for 2013. Free state tax filing turbotax Figure the excess withholding on the appropriate worksheet. Free state tax filing turbotax    Table 3-2. Free state tax filing turbotax Maximum Social Security and RRTA Withholding for 2013 Type of tax Maximum wages subject to tax Tax rate Maximum tax to be withheld Social security $113,700 6. Free state tax filing turbotax 2% $7,049. Free state tax filing turbotax 40 Tier 1 RRTA $113,700 6. Free state tax filing turbotax 2% $7,049. Free state tax filing turbotax 40 Tier 2 RRTA $84,300 4. Free state tax filing turbotax 4% $3,709. Free state tax filing turbotax 20 Joint returns. Free state tax filing turbotax   If you are filing a joint return, you and your spouse must figure any excess social security or tier 1 RRTA separately. Free state tax filing turbotax Note. Free state tax filing turbotax All wages are subject to Medicare tax withholding. Free state tax filing turbotax Employer's error. Free state tax filing turbotax   If you had only one employer and he or she withheld too much social security, Medicare, or tier 1 RRTA tax, ask the employer to refund the excess amount to you. Free state tax filing turbotax If the employer refuses to refund the overcollection, ask for a statement indicating the amount of the overcollection to support your claim. Free state tax filing turbotax File a claim for refund using Form 843, Claim for Refund and Request for Abatement. Free state tax filing turbotax Worksheet for Nonrailroad Employees If you did not work for a railroad during 2013, figure the excess social security withholding on Worksheet 3-1. Free state tax filing turbotax Note. Free state tax filing turbotax If you worked for both a railroad employer and a nonrailroad employer, use Worksheet 3-2, to figure excess social security and tier 1 RRTA tax. Free state tax filing turbotax Where to claim credit for excess social security withholding. Free state tax filing turbotax   If you file Form 1040, enter the excess on line 69. Free state tax filing turbotax   If you file Form 1040A, include the excess in the total on line 41. Free state tax filing turbotax Write “Excess SST” and show the amount of the credit in the space to the left of the line. Free state tax filing turbotax   You cannot claim excess social security tax withholding on Form 1040EZ. Free state tax filing turbotax Worksheets for Railroad Employees If you worked for a railroad during 2013, figure your excess withholding on Worksheet 3-2 and 3-3, as appropriate. Free state tax filing turbotax Where to claim credit for excess tier 1 RRTA withholding. Free state tax filing turbotax   If you file Form 1040, enter the excess on line 69. Free state tax filing turbotax   If you file Form 1040A, include the excess in the total on line 41. Free state tax filing turbotax Write “Excess SST” and show the amount of the credit in the space to the left of the line. Free state tax filing turbotax   You cannot claim excess tier 1 RRTA withholding on Form 1040EZ. Free state tax filing turbotax How to claim refund of excess tier 2 RRTA. Free state tax filing turbotax   To claim a refund of tier 2 tax, use Form 843. Free state tax filing turbotax Be sure to attach a copy of all of your Forms W-2. Free state tax filing turbotax   See Worksheet 3-3 and the Instructions for Form 843, for more details. Free state tax filing turbotax Worksheet 3-1. Free state tax filing turbotax Excess Social Security—Nonrailroad Employees 1. Free state tax filing turbotax Add all social security tax withheld (but not more than  $7,049. Free state tax filing turbotax 40 for each employer). Free state tax filing turbotax This tax should be shown  in box 4 of your Forms W-2. Free state tax filing turbotax Enter the total here 1. Free state tax filing turbotax   2. Free state tax filing turbotax Enter any uncollected social security tax on tips or group-term life insurance on Form 1040, line 60, identified by “UT” 2. Free state tax filing turbotax   3. Free state tax filing turbotax Add lines 1 and 2. Free state tax filing turbotax If $7,049. Free state tax filing turbotax 40 or less, stop here. Free state tax filing turbotax You cannot claim the credit 3. Free state tax filing turbotax   4. Free state tax filing turbotax Social security limit 4. Free state tax filing turbotax $7,049. Free state tax filing turbotax 40 5. Free state tax filing turbotax Excess. Free state tax filing turbotax Subtract line 4 from line 3 5. Free state tax filing turbotax   Worksheet 3-2. Free state tax filing turbotax Excess Social Security and Tier 1 RRTA—Railroad Employees 1. Free state tax filing turbotax Add all social security and tier 1 RRTA tax withheld (but not more than $7,049. Free state tax filing turbotax 40 for each employer). Free state tax filing turbotax Social security tax should be shown in box 4 and tier 1 RRTA should be shown  in box 14 of your Forms W-2. Free state tax filing turbotax Enter the total here 1. Free state tax filing turbotax   2. Free state tax filing turbotax Enter any uncollected social security and tier 1 RRTA tax on tips or group-term life insurance on Form 1040, line 60, identified by “UT” 2. Free state tax filing turbotax   3. Free state tax filing turbotax Add lines 1 and 2. Free state tax filing turbotax If $7,049. Free state tax filing turbotax 40 or less, stop here. Free state tax filing turbotax You cannot claim the credit 3. Free state tax filing turbotax   4. Free state tax filing turbotax Social security and tier 1 RRTA tax limit 4. Free state tax filing turbotax $7,049. Free state tax filing turbotax 40 5. Free state tax filing turbotax Excess. Free state tax filing turbotax Subtract line 4 from line 3 5. Free state tax filing turbotax   Worksheet 3-3. Free state tax filing turbotax Excess Tier 2 RRTA—Railroad Employees 1. Free state tax filing turbotax Add all tier 2 RRTA tax withheld (but not more than $3,709. Free state tax filing turbotax 20 for each employer). Free state tax filing turbotax Box 14 of your Forms W-2 should show tier 2 RRTA tax. Free state tax filing turbotax Enter the total here 1. Free state tax filing turbotax   2. Free state tax filing turbotax Enter any uncollected tier 2 RRTA tax on tips or group-term life insurance on Form 1040, line 60, identified by “UT” 2. Free state tax filing turbotax   3. Free state tax filing turbotax Add lines 1 and 2. Free state tax filing turbotax If $3,709. Free state tax filing turbotax 20 or less, stop here. Free state tax filing turbotax You cannot claim the credit. Free state tax filing turbotax 3. Free state tax filing turbotax   4. Free state tax filing turbotax Tier 2 RRTA tax limit 4. Free state tax filing turbotax $3,709. Free state tax filing turbotax 20 5. Free state tax filing turbotax Excess. Free state tax filing turbotax Subtract line 4 from line 3. Free state tax filing turbotax 5. Free state tax filing turbotax   Prev  Up  Next   Home   More Online Publications