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Free Tax Filing 2012 State And Federal

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Free Tax Filing 2012 State And Federal

Free tax filing 2012 state and federal 3. Free tax filing 2012 state and federal   Lifetime Learning Credit Table of Contents Introduction Can You Claim the CreditWho Can Claim the Credit Who Cannot Claim the Credit What Expenses QualifyQualified Education Expenses No Double Benefit Allowed Expenses That Do Not Qualify Who Is an Eligible Student Who Can Claim a Dependent's Expenses Figuring the CreditEffect of the Amount of Your Income on the Amount of Your Credit Claiming the Credit Introduction For 2013, there are two tax credits available to help you offset the costs of higher education by reducing the amount of your income tax. Free tax filing 2012 state and federal They are the American opportunity credit and the lifetime learning credit. Free tax filing 2012 state and federal This chapter discusses the lifetime learning credit. Free tax filing 2012 state and federal The American opportunity credit is discussed in chapter 2, The American Opportunity Credit . Free tax filing 2012 state and federal This chapter explains: Who can claim the lifetime learning credit, What expenses qualify for the credit, Who is an eligible student, Who can claim a dependent's expenses, How to figure the credit, How to claim the credit, and When the credit must be repaid. Free tax filing 2012 state and federal What is the tax benefit of the lifetime learning credit. Free tax filing 2012 state and federal   For the tax year, you may be able to claim a lifetime learning credit of up to $2,000 for qualified education expenses paid for all eligible students. Free tax filing 2012 state and federal There is no limit on the number of years the lifetime learning credit can be claimed for each student. Free tax filing 2012 state and federal   A tax credit reduces the amount of income tax you may have to pay. Free tax filing 2012 state and federal Unlike a deduction, which reduces the amount of income subject to tax, a credit directly reduces the tax itself. Free tax filing 2012 state and federal The lifetime learning credit is a nonrefundable credit. Free tax filing 2012 state and federal This means that it can reduce your tax to zero, but if the credit is more than your tax the excess will not be refunded to you. Free tax filing 2012 state and federal   Your allowable lifetime learning credit may be limited by the amount of your income and the amount of your tax. Free tax filing 2012 state and federal Can you claim more than one education credit this year. Free tax filing 2012 state and federal   For each student, you can elect for any year only one of the credits. Free tax filing 2012 state and federal For example, if you elect to take the lifetime learning credit for a child on your 2013 tax return, you cannot, for that same child, also claim the American opportunity credit for 2013. Free tax filing 2012 state and federal   If you are eligible to claim the lifetime learning credit and you are also eligible to claim the American opportunity credit for the same student in the same year, you can choose to claim either credit, but not both. Free tax filing 2012 state and federal   If you pay qualified education expenses for more than one student in the same year, you can choose to take certain credits on a per-student, per-year basis. Free tax filing 2012 state and federal This means that, for example, you can claim the American opportunity credit for one student and the lifetime learning credit for another student in the same year. Free tax filing 2012 state and federal Differences between the American opportunity and lifetime learning credits. Free tax filing 2012 state and federal   There are several differences between these two credits. Free tax filing 2012 state and federal For example, you can claim the American opportunity credit for the same student for no more than 4 tax years, but any year in which the Hope Scholarship Credit was claimed counts toward the 4 years. Free tax filing 2012 state and federal However, there is no limit on the number of years for which you can claim a lifetime learning credit based on the same student's expenses. Free tax filing 2012 state and federal The differences between these credits are shown in Appendix B, Highlights of Education Tax Benefits for Tax Year 2013 near the end of this publication. Free tax filing 2012 state and federal Overview of the lifetime learning credit. Free tax filing 2012 state and federal   See Table 3-1, Overview of the Lifetime Learning Credit for the basics of the lifetime learning credit. Free tax filing 2012 state and federal The details are discussed in this chapter. Free tax filing 2012 state and federal Can You Claim the Credit The following rules will help you determine if you are eligible to claim the lifetime learning credit on your tax return. Free tax filing 2012 state and federal Who Can Claim the Credit Generally, you can claim the lifetime learning credit if all three of the following requirements are met. Free tax filing 2012 state and federal You pay qualified education expenses of higher education. Free tax filing 2012 state and federal You pay the education expenses for an eligible student. Free tax filing 2012 state and federal The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Free tax filing 2012 state and federal Table 3-1. Free tax filing 2012 state and federal Overview of the Lifetime Learning Credit Maximum credit Up to $2,000 credit per return Limit on modified adjusted gross income (MAGI) $127,000 if married filling jointly;  $63,000 if single, head of household, or qualifying widow(er) Refundable or nonrefundable Nonrefundable—credit limited to the amount of tax you must pay on your taxable income Number of years of postsecondary education Available for all years of postsecondary education and for courses to acquire or improve job skills Number of tax years credit available Available for an unlimited number of years Type of program required Student does not need to be pursuing a program leading to a degree or other recognized education credential Number of courses Available for one or more courses Felony drug conviction Felony drug convictions do not make the student ineligible Qualified expenses Tuition and fees required for enrollment or attendance (including amounts required to be paid to the institution for course-related books, supplies, and equipment) Payments for academic periods Payments made in 2013 for academic periods beginning in 2013 or beginning in the first 3 months of 2014 Note. Free tax filing 2012 state and federal Qualified education expenses paid by a dependent for whom you claim an exemption, or by a third party for that dependent, are considered paid by you. Free tax filing 2012 state and federal “Qualified education expenses” are defined later under Qualified Education Expenses . Free tax filing 2012 state and federal “Eligible students” are defined later under Who Is an Eligible Student . Free tax filing 2012 state and federal A dependent for whom you claim an exemption is defined later under Who Can Claim a Dependent's Expenses . Free tax filing 2012 state and federal You may find Figure 3-1, Can You Claim the Lifetime Learning Credit for 2013 , later, helpful in determining if you can claim a lifetime learning credit on your tax return. Free tax filing 2012 state and federal Who Cannot Claim the Credit You cannot claim the lifetime learning credit for 2013 if any of the following apply. Free tax filing 2012 state and federal Your filing status is married filing separately. Free tax filing 2012 state and federal You are listed as a dependent on another person's tax return (such as your parents'). Free tax filing 2012 state and federal See Who Can Claim a Dependent's Expenses , later. Free tax filing 2012 state and federal Your modified adjusted gross income (MAGI) is $63,000 or more ($127,000 or more in the case of a joint return). Free tax filing 2012 state and federal MAGI is explained later under Effect of the Amount of Your Income on the Amount of Your Credit . Free tax filing 2012 state and federal You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. Free tax filing 2012 state and federal More information on nonresident aliens can be found in Publication 519. Free tax filing 2012 state and federal You claim the American Opportunity Credit (see chapter 2) or a Tuition and Fees Deduction (see chapter 6) for the same student in 2013. Free tax filing 2012 state and federal What Expenses Qualify The lifetime learning credit is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Free tax filing 2012 state and federal Generally, the credit is allowed for qualified education expenses paid in 2013 for an academic period beginning in 2013 or in the first 3 months of 2014. Free tax filing 2012 state and federal For example, if you paid $1,500 in December 2013 for qualified tuition for the spring 2014 semester beginning in January 2014, you may be able to use that $1,500 in figuring your 2013 credit. Free tax filing 2012 state and federal Academic period. Free tax filing 2012 state and federal   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Free tax filing 2012 state and federal In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Free tax filing 2012 state and federal Paid with borrowed funds. Free tax filing 2012 state and federal   You can claim a lifetime learning credit for qualified education expenses paid with the proceeds of a loan. Free tax filing 2012 state and federal You use the expenses to figure the lifetime learning credit for the year in which the expenses are paid, not the year in which the loan is repaid. Free tax filing 2012 state and federal Treat loan disbursements sent directly to the educational institution as paid on the date the institution credits the student's account. Free tax filing 2012 state and federal Student withdraws from class(es). Free tax filing 2012 state and federal   You can claim a lifetime learning credit for qualified education expenses not refunded when a student withdraws. Free tax filing 2012 state and federal Qualified Education Expenses For purposes of the lifetime learning credit, qualified education expenses are tuition and certain related expenses required for enrollment in a course at an eligible educational institution. Free tax filing 2012 state and federal The course must be either part of a postsecondary degree program or taken by the student to acquire or improve job skills. Free tax filing 2012 state and federal Eligible educational institution. Free tax filing 2012 state and federal   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Free tax filing 2012 state and federal S. Free tax filing 2012 state and federal Department of Education. Free tax filing 2012 state and federal It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Free tax filing 2012 state and federal The educational institution should be able to tell you if it is an eligible educational institution. Free tax filing 2012 state and federal   Certain educational institutions located outside the United States also participate in the U. Free tax filing 2012 state and federal S. Free tax filing 2012 state and federal Department of Education's Federal Student Aid (FSA) programs. Free tax filing 2012 state and federal Related expenses. Free tax filing 2012 state and federal   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution for enrollment or attendance. Free tax filing 2012 state and federal Prepaid expenses. Free tax filing 2012 state and federal   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring an education credit for 2013 only. Free tax filing 2012 state and federal See Academic period , earlier. Free tax filing 2012 state and federal For example, you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring an education credit for 2013 only (if you meet all the other requirements). Free tax filing 2012 state and federal You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 education credit(s). Free tax filing 2012 state and federal In the following examples, assume that each student is an eligible student at an eligible educational institution. Free tax filing 2012 state and federal Example 1. Free tax filing 2012 state and federal   Jackson is a sophomore in University V's degree program in dentistry. Free tax filing 2012 state and federal This year, in addition to tuition, he is required to pay a fee to the university for the rental of the dental equipment he will use in this program. Free tax filing 2012 state and federal Because the equipment rental fee must be paid to University V for enrollment and attendance, Jackson's equipment rental fee is a qualified expense. Free tax filing 2012 state and federal Example 2. Free tax filing 2012 state and federal   Donna and Charles, both first-year students at College W, are required to have certain books and other reading materials to use in their mandatory first-year classes. Free tax filing 2012 state and federal The college has no policy about how students should obtain these materials, but any student who purchases them from College W's bookstore will receive a bill directly from the college. Free tax filing 2012 state and federal Charles bought his books from a friend, so what he paid for them is not a qualified education expense. Free tax filing 2012 state and federal Donna bought hers at College W's bookstore. Free tax filing 2012 state and federal Although Donna paid College W directly for her first-year books and materials, her payment is not a qualified expense because the books and materials are not required to be purchased from College W for enrollment or attendance at the institution. Free tax filing 2012 state and federal Example 3. Free tax filing 2012 state and federal   When Marci enrolled at College X for her freshman year, she had to pay a separate student activity fee in addition to her tuition. Free tax filing 2012 state and federal This activity fee is required of all students, and is used solely to fund on-campus organizations and activities run by students, such as the student newspaper and student government. Free tax filing 2012 state and federal No portion of the fee covers personal expenses. Free tax filing 2012 state and federal Although labeled as a student activity fee, the fee is required for Marci's enrollment and attendance at College X. Free tax filing 2012 state and federal Therefore, it is a qualified expense. Free tax filing 2012 state and federal No Double Benefit Allowed You cannot do any of the following: Deduct higher education expenses on your income tax return (as, for example, a business expense) and also claim a lifetime learning credit based on those same expenses. Free tax filing 2012 state and federal Claim a lifetime learning credit in the same year that you are claiming a tuition and fees deduction for the same student. Free tax filing 2012 state and federal Claim a lifetime learning credit and an American opportunity credit based on the same qualified education expenses. Free tax filing 2012 state and federal Claim a lifetime learning credit based on the same expenses used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or qualified tuition program (QTP). Free tax filing 2012 state and federal See Coordination With American Opportunity and Lifetime Learning Credits in chapter 7, Coverdell Education Savings Account, and Coordination With American Opportunity and Lifetime Learning Credits in chapter 8, Qualified Tuition Program. Free tax filing 2012 state and federal Claim a credit based on qualified education expenses paid with tax-free educational assistance, such as a scholarship, grant, or assistance provided by an employer. Free tax filing 2012 state and federal See Adjustments to Qualified Education Expenses, next. Free tax filing 2012 state and federal This image is too large to be displayed in the current screen. Free tax filing 2012 state and federal Please click the link to view the image. Free tax filing 2012 state and federal Figure 3-1 Adjustments to Qualified Education Expenses For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. Free tax filing 2012 state and federal The result is the amount of adjusted qualified education expenses for each student. Free tax filing 2012 state and federal Tax-free educational assistance. Free tax filing 2012 state and federal   For tax-free educational assistance received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance allocable to that academic period. Free tax filing 2012 state and federal See Academic period , earlier. Free tax filing 2012 state and federal   Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. Free tax filing 2012 state and federal This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). Free tax filing 2012 state and federal   If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed , later. Free tax filing 2012 state and federal If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed , later. Free tax filing 2012 state and federal   Tax-free educational assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Free tax filing 2012 state and federal Generally, any scholarship or fellowship is treated as tax free. Free tax filing 2012 state and federal However, a scholarship or fellowship is not treated as tax free to the extent the student includes it in gross income (if the student is required to file a tax return for the year the scholarship or fellowship is received) and either of the following is true. Free tax filing 2012 state and federal The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Free tax filing 2012 state and federal The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Free tax filing 2012 state and federal You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year it is received. Free tax filing 2012 state and federal For examples, see Coordination with Pell grants and other scholarships, later. Free tax filing 2012 state and federal Refunds. Free tax filing 2012 state and federal   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or require repayment (recapture) of a credit claimed in an earlier year. Free tax filing 2012 state and federal Some tax-free educational assistance received after 2013 may be treated as a refund. Free tax filing 2012 state and federal See Tax-free educational assistance , earlier. Free tax filing 2012 state and federal Refunds received in 2013. Free tax filing 2012 state and federal   For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses for 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. Free tax filing 2012 state and federal Refunds received after 2013 but before your income tax return is filed. Free tax filing 2012 state and federal   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid before you file an income tax return for 2013, the amount of qualified education expenses for 2013 is reduced by the amount of the refund. Free tax filing 2012 state and federal Refunds received after 2013 and after your income tax return is filed. Free tax filing 2012 state and federal   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid after you file an income tax return for 2013, you may need to repay some or all of the credit. Free tax filing 2012 state and federal See Credit recapture, next. Free tax filing 2012 state and federal Credit recapture. Free tax filing 2012 state and federal    If any tax-free educational assistance for the qualified education expenses paid in 2013 or any refund of your qualified education expenses paid in 2013 is received after you file your 2013 income tax return, you must recapture (repay) any excess credit. Free tax filing 2012 state and federal You do this by refiguring the amount of your adjusted qualified education expenses for 2013 by reducing the expenses by the amount of the refund or tax-free educational assistance. Free tax filing 2012 state and federal You then refigure your education credit(s) for 2013 and figure the amount by which your 2013 tax liability would have increased if you had claimed the refigured credit(s). Free tax filing 2012 state and federal Include that amount as an additional tax for the year the refund or tax-free assistance was received. Free tax filing 2012 state and federal Example. Free tax filing 2012 state and federal   You pay $9,300 in tuition and fees in December 2013, and your child began college in January 2014. Free tax filing 2012 state and federal You filed your 2013 tax return on February 14, 2014, and claimed a lifetime learning credit of $1,860. Free tax filing 2012 state and federal You claimed no other tax credits. Free tax filing 2012 state and federal After you filed your return, your child withdrew from two courses and you received a refund of $2,900. Free tax filing 2012 state and federal You must refigure your 2013 lifetime learning credit using $6,400 of qualified education expenses instead of $9,300. Free tax filing 2012 state and federal The refigured credit is $1,280 and your tax liability increased by $580. Free tax filing 2012 state and federal See instructions for your 2014 income tax return to determine where to include this tax. Free tax filing 2012 state and federal If you pay qualified education expenses in 2014 for an academic period that begins in the first 3 months of 2014 and you receive tax-free educational assistance, or a refund, as described above, you may choose to reduce your qualified education expenses for 2014 instead of reducing your expenses for 2013. Free tax filing 2012 state and federal Amounts that do not reduce qualified education expenses. Free tax filing 2012 state and federal   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. Free tax filing 2012 state and federal   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. Free tax filing 2012 state and federal The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses, as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Free tax filing 2012 state and federal The use of the money is not restricted. Free tax filing 2012 state and federal For examples, see Adjustments to Qualified Education Expenses in chapter 2, American Opportunity Credit. Free tax filing 2012 state and federal Coordination with Pell grants and other scholarships. Free tax filing 2012 state and federal   In some cases, you may be able to reduce your tax liability by including scholarships in income. Free tax filing 2012 state and federal If you are claiming an education credit for a claimed dependent who received a scholarship, you may be able to reduce your tax liability if the student includes the scholarship in income. Free tax filing 2012 state and federal The scholarship must be one that may (by its terms) be applied to expenses (such as room and board) other than qualified education expenses. Free tax filing 2012 state and federal Example 1—No scholarship. Free tax filing 2012 state and federal Judy Green, who is unmarried, is taking courses at a public community college to be recertified to teach in public schools. Free tax filing 2012 state and federal Her AGI and her MAGI, for purposes of the credit, are $27,000. Free tax filing 2012 state and federal Judy takes the standard deduction of $5,950 and personal exemption of $3,800, reducing her AGI to taxable income of $17,250 and her tax before credits is $2,156. Free tax filing 2012 state and federal She claims no credits other than the lifetime learning credit. Free tax filing 2012 state and federal In July 2013 she paid $700 for the summer 2013 semester; in August 2013 she paid $1,900 for the fall 2013 semester; and in December 2013 she paid another $1,900 for the spring semester beginning in January 2014. Free tax filing 2012 state and federal Judy and the college meet all requirements for the lifetime learning tax credit. Free tax filing 2012 state and federal She can use all of the $4,500 tuition she paid in 2013 when figuring her 2013 lifetime learning credit. Free tax filing 2012 state and federal She claims a $900 lifetime learning credit and her tax after credits is $1,256. Free tax filing 2012 state and federal Example 2—Scholarship excluded from income. Free tax filing 2012 state and federal The facts are the same as in Example 1—No scholarship, except that Judy was awarded a $1,500 scholarship. Free tax filing 2012 state and federal Under the terms of her scholarship, it may be used to pay any educational expenses, including room and board. Free tax filing 2012 state and federal If Judy excludes the scholarship from income, she will be deemed (for purposes of computing her education credit) as having used the scholarship to pay for tuition, required fees, and course materials. Free tax filing 2012 state and federal Only $3,000 of the $4,500 tuition she paid in 2013 could be used when figuring her 2013 lifetime learning credit. Free tax filing 2012 state and federal Her lifetime learning credit would be reduced to $600 and her tax after credits would be $1,556. Free tax filing 2012 state and federal Example 3—Scholarship included in income. Free tax filing 2012 state and federal The facts are the same as in Example 2—Scholarship excluded from income. Free tax filing 2012 state and federal If, unlike Example 2, Judy includes the $1,500 scholarship in income, she will be deemed to have used the entire scholarship to pay for room and board. Free tax filing 2012 state and federal Judy's AGI will increase to $28,500, her taxable income would be $18,750, and her tax before credits would be $2,381. Free tax filing 2012 state and federal She would be able to use the $4,500 of adjusted qualified education expenses to figure her credit. Free tax filing 2012 state and federal Judy could claim a $900 lifetime learning credit and her tax after credits would be $1,481. Free tax filing 2012 state and federal Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. Free tax filing 2012 state and federal This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Free tax filing 2012 state and federal Sports, games, hobbies, and noncredit courses. Free tax filing 2012 state and federal   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. Free tax filing 2012 state and federal However, if the course of instruction or other education is part of the student's degree program or is taken by the student to acquire or improve job skills, these expenses can qualify. Free tax filing 2012 state and federal Comprehensive or bundled fees. Free tax filing 2012 state and federal   Some eligible educational institutions combine all of their fees for an academic period into one amount. Free tax filing 2012 state and federal If you do not receive or do not have access to an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed above, contact the institution. Free tax filing 2012 state and federal The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T. Free tax filing 2012 state and federal See Figuring the Credit , later, for more information about Form 1098-T. Free tax filing 2012 state and federal Who Is an Eligible Student For purposes of the lifetime learning credit, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (as defined under Qualified Education Expenses , earlier). Free tax filing 2012 state and federal Who Can Claim a Dependent's Expenses If there are qualified education expenses for your dependent during a tax year, either you or your dependent, but not both of you, can claim a lifetime learning credit for your dependent's expenses for that year. Free tax filing 2012 state and federal For you to claim a lifetime learning credit for your dependent's expenses, you must also claim an exemption for your dependent. Free tax filing 2012 state and federal You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c. Free tax filing 2012 state and federal IF you. Free tax filing 2012 state and federal . Free tax filing 2012 state and federal . Free tax filing 2012 state and federal THEN only. Free tax filing 2012 state and federal . Free tax filing 2012 state and federal . Free tax filing 2012 state and federal claim an exemption on your tax return for a dependent who is an eligible student you can claim the lifetime learning credit based on that dependent's expenses. Free tax filing 2012 state and federal The dependent cannot claim the credit. Free tax filing 2012 state and federal do not claim an exemption on your tax return for a dependent who is an eligible student (even if entitled to the exemption) the dependent can claim the lifetime learning credit. Free tax filing 2012 state and federal You cannot claim the credit based on this dependent's expenses. Free tax filing 2012 state and federal Expenses paid by dependent. Free tax filing 2012 state and federal   If you claim an exemption on your tax return for an eligible student who is your dependent, treat any expenses paid (or deemed paid) by your dependent as if you had paid them. Free tax filing 2012 state and federal Include these expenses when figuring the amount of your lifetime learning credit. Free tax filing 2012 state and federal    Qualified education expenses paid directly to an eligible educational institution for your dependent under a court-approved divorce decree are treated as paid by your dependent. Free tax filing 2012 state and federal Expenses paid by you. Free tax filing 2012 state and federal   If you claim an exemption for a dependent who is an eligible student, only you can include any expenses you paid when figuring the amount of the lifetime learning credit. Free tax filing 2012 state and federal If neither you nor anyone else claims an exemption for the dependent, only the dependent can include any expenses you paid when figuring the lifetime learning credit. Free tax filing 2012 state and federal Expenses paid by others. Free tax filing 2012 state and federal   Someone other than you, your spouse, or your dependent (such as a relative or former spouse) may make a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses. Free tax filing 2012 state and federal In this case, the student is treated as receiving the payment from the other person and, in turn, paying the institution. Free tax filing 2012 state and federal If you claim an exemption on your tax return for the student, you are considered to have paid the expenses. Free tax filing 2012 state and federal Example. Free tax filing 2012 state and federal In 2013, Ms. Free tax filing 2012 state and federal Allen makes a payment directly to an eligible educational institution for her grandson Todd's qualified education expenses. Free tax filing 2012 state and federal For purposes of claiming a lifetime learning credit, Todd is treated as receiving the money from his grandmother and, in turn, paying his qualified education expenses himself. Free tax filing 2012 state and federal Unless an exemption for Todd is claimed on someone else's 2013 tax return, only Todd can use the payment to claim a lifetime learning credit. Free tax filing 2012 state and federal If anyone, such as Todd's parents, claims an exemption for Todd on his or her 2013 tax return, whoever claims the exemption may be able to use the expenses to claim a lifetime learning credit. Free tax filing 2012 state and federal If anyone else claims an exemption for Todd, Todd cannot claim a lifetime learning credit. Free tax filing 2012 state and federal Tuition reduction. Free tax filing 2012 state and federal   When an eligible educational institution provides a reduction in tuition to an employee of the institution (or spouse or dependent child of an employee), the amount of the reduction may or may not be taxable. Free tax filing 2012 state and federal If it is taxable, the employee is treated as receiving a payment of that amount and, in turn, paying it to the educational institution on behalf of the student. Free tax filing 2012 state and federal For more information on tuition reductions, see Qualified Tuition Reduction in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Free tax filing 2012 state and federal Figuring the Credit The amount of the lifetime learning credit is 20% of the first $10,000 of qualified education expenses you paid for all eligible students. Free tax filing 2012 state and federal The maximum amount of lifetime learning credit you can claim for 2013 is $2,000 (20% × $10,000). Free tax filing 2012 state and federal However, that amount may be reduced based on your MAGI. Free tax filing 2012 state and federal See Effect of the Amount of Your Income on the Amount of Your Credit , later. Free tax filing 2012 state and federal Example. Free tax filing 2012 state and federal Bruce and Toni Harper are married and file a joint tax return. Free tax filing 2012 state and federal For 2013, their MAGI is $75,000. Free tax filing 2012 state and federal Toni is attending a local college (an eligible educational institution) to earn credits toward a degree in nursing. Free tax filing 2012 state and federal She already has a bachelor's degree in history and wants to become a nurse. Free tax filing 2012 state and federal In August 2013, Toni paid $5,000 of qualified education expenses for her fall 2013 semester. Free tax filing 2012 state and federal Bruce and Toni can claim a $1,000 (20% × $5,000) lifetime learning credit on their 2013 joint tax return. Free tax filing 2012 state and federal Form 1098-T. Free tax filing 2012 state and federal   To help you figure your lifetime learning credit, the student should receive Form 1098-T. Free tax filing 2012 state and federal Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. Free tax filing 2012 state and federal An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. Free tax filing 2012 state and federal However, the amounts in boxes 1 and 2 of Form 1098-T might be different from what you paid. Free tax filing 2012 state and federal When figuring the credit, use only the amounts you paid or are deemed to have paid in 2013 for qualified education expenses. Free tax filing 2012 state and federal   In addition, Form 1098-T should give other information for that institution, such as adjustments made for prior years, the amount of scholarships or grants, reimbursements or refunds, and whether the student was enrolled at least half-time or was a graduate student. Free tax filing 2012 state and federal    The eligible educational institution may ask for a completed Form W-9S, or similar statement to obtain the student's name, address, and taxpayer identification number. Free tax filing 2012 state and federal Effect of the Amount of Your Income on the Amount of Your Credit The amount of your lifetime learning credit is phased out (gradually reduced) if your MAGI is between $53,000 and $63,000 ($107,000 and $127,000 if you file a joint return). Free tax filing 2012 state and federal You cannot claim a lifetime learning credit if your MAGI is $63,000 or more ($127,000 or more if you file a joint return). Free tax filing 2012 state and federal Modified adjusted gross income (MAGI). Free tax filing 2012 state and federal   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return. Free tax filing 2012 state and federal MAGI when using Form 1040A. Free tax filing 2012 state and federal   If you file Form 1040A, your MAGI is the AGI on line 22 of that form. Free tax filing 2012 state and federal MAGI when using Form 1040. Free tax filing 2012 state and federal   If you file Form 1040, your MAGI is the AGI on line 38 of that form, modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Free tax filing 2012 state and federal You can use Worksheet 3-1 to figure your MAGI. Free tax filing 2012 state and federal Worksheet 3-1. Free tax filing 2012 state and federal MAGI for the Lifetime Learning Credit 1. Free tax filing 2012 state and federal Enter your adjusted gross income  (Form 1040, line 38)   1. Free tax filing 2012 state and federal   2. Free tax filing 2012 state and federal Enter your foreign earned income exclusion and/or housing exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   2. Free tax filing 2012 state and federal       3. Free tax filing 2012 state and federal Enter your foreign housing deduction (Form 2555, line 50)   3. Free tax filing 2012 state and federal       4. Free tax filing 2012 state and federal Enter the amount of income from Puerto Rico you are excluding   4. Free tax filing 2012 state and federal       5. Free tax filing 2012 state and federal Enter the amount of income from American Samoa you are excluding (Form 4563, line 15)   5. Free tax filing 2012 state and federal       6. Free tax filing 2012 state and federal Add the amounts on lines 2, 3, 4, and 5   6. Free tax filing 2012 state and federal   7. Free tax filing 2012 state and federal Add the amounts on lines 1 and 6. Free tax filing 2012 state and federal  This is your modified adjusted  gross income. Free tax filing 2012 state and federal Enter this amount  on Form 8863, line 14   7. Free tax filing 2012 state and federal   Phaseout. Free tax filing 2012 state and federal   If your MAGI is within the range of incomes where the credit must be reduced, you will figure your reduced credit using lines 10-18 of Form 8863. Free tax filing 2012 state and federal The same method is shown in the following example. Free tax filing 2012 state and federal Example. Free tax filing 2012 state and federal You are filing a joint return with a MAGI of $112,000. Free tax filing 2012 state and federal In 2013, you paid $6,600 of qualified education expenses. Free tax filing 2012 state and federal You figure the tentative lifetime learning credit (20% of the first $10,000 of qualified education expenses you paid for all eligible students). Free tax filing 2012 state and federal The result is a $1,320 (20% x $6,600) tentative credit. Free tax filing 2012 state and federal Because your MAGI is within the range of incomes where the credit must be reduced, you must multiply your tentative credit ($1,320) by a fraction. Free tax filing 2012 state and federal The numerator of the fraction is $127,000 (the upper limit for those filing a joint return) minus your MAGI. Free tax filing 2012 state and federal The denominator is $20,000, the range of incomes for the phaseout ($107,000 to $127,000). Free tax filing 2012 state and federal The result is the amount of your phased out (reduced) lifetime learning credit ($990). Free tax filing 2012 state and federal   $1,320 × $127,000 − $112,000  $20,000 = $990   Claiming the Credit You claim the lifetime learning credit by completing Form 8863 and submitting it with your Form 1040 or 1040A. Free tax filing 2012 state and federal Enter the credit on Form 1040, line 49, or Form 1040A, line 31. Free tax filing 2012 state and federal Note. Free tax filing 2012 state and federal In Appendix A, Illustrated Example of Education Credits at the end of this publication, there is an example illustrating the use of Form 8863 when both the American opportunity credit and the lifetime learning credit are claimed on the same tax return. Free tax filing 2012 state and federal Prev  Up  Next   Home   More Online Publications
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The Free Tax Filing 2012 State And Federal

Free tax filing 2012 state and federal 30. Free tax filing 2012 state and federal   How To Figure Your Tax Table of Contents Introduction Figuring Your Tax Alternative Minimum Tax (AMT) Tax Figured by IRSFiling the Return Introduction After you have figured your income and deductions as explained in Parts One through Five, your next step is to figure your tax. Free tax filing 2012 state and federal This chapter discusses: The general steps you take to figure your tax, An additional tax you may have to pay called the alternative minimum tax (AMT), and The conditions you must meet if you want the IRS to figure your tax. Free tax filing 2012 state and federal Figuring Your Tax Your income tax is based on your taxable income. Free tax filing 2012 state and federal After you figure your income tax and AMT, if any, subtract your tax credits and add any other taxes you may owe. Free tax filing 2012 state and federal The result is your total tax. Free tax filing 2012 state and federal Compare your total tax with your total payments to determine whether you are entitled to a refund or if you must make a payment. Free tax filing 2012 state and federal This section provides a general outline of how to figure your tax. Free tax filing 2012 state and federal You can find step-by-step directions in the Instructions for Forms 1040EZ, 1040A, and 1040. Free tax filing 2012 state and federal If you are unsure of which tax form you should file, see Which Form Should I Use? in chapter 1. Free tax filing 2012 state and federal Tax. Free tax filing 2012 state and federal   Most taxpayers use either the Tax Table or the Tax Computation Worksheet to figure their income tax. Free tax filing 2012 state and federal However, there are special methods if your income includes any of the following items. Free tax filing 2012 state and federal A net capital gain. Free tax filing 2012 state and federal (See chapter 16. Free tax filing 2012 state and federal ) Qualified dividends taxed at the same rates as a net capital gain. Free tax filing 2012 state and federal (See chapters 8 and 16. Free tax filing 2012 state and federal ) Lump-sum distributions. Free tax filing 2012 state and federal (See chapter 10. Free tax filing 2012 state and federal ) Farming or fishing income. Free tax filing 2012 state and federal (See Schedule J (Form 1040), Income Averaging for Farmers and Fishermen. Free tax filing 2012 state and federal ) Unearned income over $2,000 for certain children. Free tax filing 2012 state and federal (See chapter 31. Free tax filing 2012 state and federal ) Parents' election to report child's interest and dividends. Free tax filing 2012 state and federal (See chapter 31. Free tax filing 2012 state and federal ) Foreign earned income exclusion or the housing exclusion. Free tax filing 2012 state and federal (See Form 2555, Foreign Earned Income, or Form 2555-EZ, Foreign Earned Income Exclusion, and the Foreign Earned Income Tax Worksheet in the Form 1040 instructions. Free tax filing 2012 state and federal ) Credits. Free tax filing 2012 state and federal   After you figure your income tax and any AMT (discussed later), determine if you are eligible for any tax credits. Free tax filing 2012 state and federal Eligibility information for these tax credits is discussed in chapters 32 through 37 and your form instructions. Free tax filing 2012 state and federal The following table lists the credits you may be able to subtract from your tax and shows where you can find more information on each credit. Free tax filing 2012 state and federal CREDITS For information on: See  chapter: Adoption 37 Alternative motor vehicle 37 Alternative fuel vehicle refueling  property 37 Child and dependent care 32 Child tax 34 Credit to holders of tax credit  bonds 37 Education 35 Elderly or disabled 33 Electric vehicle 37 Foreign tax 37 Mortgage interest 37 Prior year minimum tax 37 Residential energy 37 Retirement savings contributions 37   Some credits (such as the earned income credit) are not listed because they are treated as payments. Free tax filing 2012 state and federal See Payments , later. Free tax filing 2012 state and federal   There are other credits that are not discussed in this publication. Free tax filing 2012 state and federal These include the following credits. Free tax filing 2012 state and federal General business credit, which is made up of several separate business-related credits. Free tax filing 2012 state and federal These generally are reported on Form 3800, General Business Credit, and are discussed in chapter 4 of Publication 334, Tax Guide for Small Business. Free tax filing 2012 state and federal Renewable electricity, refined coal, and Indian coal production credit for electricity and refined coal produced at facilities placed in service after October 22, 2004 (after October 2, 2008, for electricity produced from marine and hydrokinetic renewables), and Indian coal produced at facilities placed in service after August 8, 2005. Free tax filing 2012 state and federal See Form 8835, Part II. Free tax filing 2012 state and federal Work opportunity credit. Free tax filing 2012 state and federal See Form 5884. Free tax filing 2012 state and federal Credit for employer social security and Medicare taxes paid on certain employee tips. Free tax filing 2012 state and federal See Form 8846. Free tax filing 2012 state and federal Other taxes. Free tax filing 2012 state and federal   After you subtract your tax credits, determine whether there are any other taxes you must pay. Free tax filing 2012 state and federal This chapter does not explain these other taxes. Free tax filing 2012 state and federal You can find that information in other chapters of this publication and your form instructions. Free tax filing 2012 state and federal See the following table for other taxes you may need to add to your income tax. Free tax filing 2012 state and federal OTHER TAXES For information on: See  chapter: Additional taxes on qualified retirement plans and IRAs 10, 17 Household employment taxes 32 Recapture of an education credit 35 Social security and Medicare tax on wages 5 Social security and Medicare tax on tips 6 Uncollected social security and Medicare tax on tips 6   You also may have to pay AMT (discussed later in this chapter). Free tax filing 2012 state and federal   There are other taxes that are not discussed in this publication. Free tax filing 2012 state and federal These include the following items. Free tax filing 2012 state and federal Self-employment tax. Free tax filing 2012 state and federal You must figure this tax if either of the following applies to you (or your spouse if you file a joint return). Free tax filing 2012 state and federal Your net earnings from self-employment from other than church employee income were $400 or more. Free tax filing 2012 state and federal The term “net earnings from self-employment” may include certain nonemployee compensation and other amounts reported to you on Form 1099-MISC, Miscellaneous Income. Free tax filing 2012 state and federal If you received a Form 1099-MISC, see the Instructions for Recipient on the back. Free tax filing 2012 state and federal Also see the Instructions for Schedule SE (Form 1040), Self-Employment Tax; and Publication 334, Tax Guide for Small Business. Free tax filing 2012 state and federal You had church employee income of $108. Free tax filing 2012 state and federal 28 or more. Free tax filing 2012 state and federal Additional Medicare Tax. Free tax filing 2012 state and federal Beginning in 2013, you may be subject to a 0. Free tax filing 2012 state and federal 9% Additional Medicare Tax that applies to Medicare wages, Railroad Retirement Act compensation, and self-employment income over a threshold based on your filing status. Free tax filing 2012 state and federal For more information, see the Instructions for Form 1040, line 60 and Form 8959. Free tax filing 2012 state and federal Net Investment Income Tax (NIIT). Free tax filing 2012 state and federal Beginning in 2013, you may be subject to Net Investment Income Tax (NIIT). Free tax filing 2012 state and federal NIIT is a 3. Free tax filing 2012 state and federal 8% tax on the lesser of net investment income or the excess of your modified adjusted gross income over a threshold amount. Free tax filing 2012 state and federal For more information, see the Instructions for Form 1040, line 60 and Form 8960. Free tax filing 2012 state and federal Recapture taxes. Free tax filing 2012 state and federal You may have to pay these taxes if you previously claimed an investment credit, a low-income housing credit, a new markets credit, a qualified plug-in electric drive motor vehicle credit, an alternative motor vehicle credit, a credit for employer-provided child care facilities, an Indian employment credit, or other credits listed in the instructions for Form 1040, line 60. Free tax filing 2012 state and federal For more information, see the instructions for Form 1040, line 60. Free tax filing 2012 state and federal Section 72(m)(5) excess benefits tax. Free tax filing 2012 state and federal If you are (or were) a 5% owner of a business and you received a distribution that exceeds the benefits provided for you under the qualified pension or annuity plan formula, you may have to pay this additional tax. Free tax filing 2012 state and federal See Tax on Excess Benefits in chapter 4 of Publication 560, Retirement Plans for Small Business. Free tax filing 2012 state and federal Uncollected social security and Medicare tax on group-term life insurance. Free tax filing 2012 state and federal If your former employer provides you with more than $50,000 of group-term life insurance coverage, you must pay the employee part of social security and Medicare taxes on those premiums. Free tax filing 2012 state and federal The amount should be shown in box 12 of your Form W-2 with codes M and N. Free tax filing 2012 state and federal Tax on golden parachute payments. Free tax filing 2012 state and federal This tax applies if you received an “excess parachute payment” (EPP) due to a change in a corporation's ownership or control. Free tax filing 2012 state and federal The amount should be shown in box 12 of your Form W-2 with code K. Free tax filing 2012 state and federal See the instructions for Form 1040, line 60. Free tax filing 2012 state and federal Tax on accumulation distribution of trusts. Free tax filing 2012 state and federal This applies if you are the beneficiary of a trust that accumulated its income instead of distributing it currently. Free tax filing 2012 state and federal See Form 4970 and its instructions. Free tax filing 2012 state and federal Additional tax on HSAs or MSAs. Free tax filing 2012 state and federal If amounts contributed to, or distributed from, your health savings account or medical savings account do not meet the rules for these accounts, you may have to pay additional taxes. Free tax filing 2012 state and federal See Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans; Form 8853, Archer MSAs and Long-Term Care Insurance Contracts; Form 8889, Health Savings Accounts (HSAs); and Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. Free tax filing 2012 state and federal Additional tax on Coverdell ESAs. Free tax filing 2012 state and federal This applies if amounts contributed to, or distributed from, your Coverdell ESA do not meet the rules for these accounts. Free tax filing 2012 state and federal See Publication 970, Tax Benefits for Education, and Form 5329. Free tax filing 2012 state and federal Additional tax on qualified tuition programs. Free tax filing 2012 state and federal This applies to amounts distributed from qualified tuition programs that do not meet the rules for these accounts. Free tax filing 2012 state and federal See Publication 970 and Form 5329. Free tax filing 2012 state and federal Excise tax on insider stock compensation from an expatriated corporation. Free tax filing 2012 state and federal You may owe a 15% excise tax on the value of nonstatutory stock options and certain other stock-based compensation held by you or a member of your family from an expatriated corporation or its expanded affiliated group in which you were an officer, director, or more-than-10% owner. Free tax filing 2012 state and federal For more information, see the instructions for Form 1040, line 60. Free tax filing 2012 state and federal Additional tax on income you received from a nonqualified deferred compensation plan that fails to meet certain requirements. Free tax filing 2012 state and federal This income should be shown in Form W-2, box 12, with code Z, or in Form 1099-MISC, box 15b. Free tax filing 2012 state and federal For more information, see the instructions for Form 1040, line 60. Free tax filing 2012 state and federal Interest on the tax due on installment income from the sale of certain residential lots and timeshares. Free tax filing 2012 state and federal For more information, see the instructions for Form 1040, line 60. Free tax filing 2012 state and federal Interest on the deferred tax on gain from certain installment sales with a sales price over $150,000. Free tax filing 2012 state and federal For more information, see the instructions for Form 1040, line 60. Free tax filing 2012 state and federal Repayment of first-time homebuyer credit. Free tax filing 2012 state and federal For more information, see Form 5405, Repayment of the First-Time Homebuyer Credit, and its instructions. Free tax filing 2012 state and federal Also see the instructions for Form 1040, line 59b. Free tax filing 2012 state and federal Payments. Free tax filing 2012 state and federal   After you determine your total tax, figure the total payments you have already made for the year. Free tax filing 2012 state and federal Include credits that are treated as payments. Free tax filing 2012 state and federal This chapter does not explain these payments and credits. Free tax filing 2012 state and federal You can find that information in other chapters of this publication and your form instructions. Free tax filing 2012 state and federal See the following table for amounts you can include in your total payments. Free tax filing 2012 state and federal PAYMENTS For information on: See  chapter: Child tax credit (additional) 34 Earned income credit 36 Estimated tax paid 4 Excess social security   and RRTA tax withheld 37 Federal income tax withheld 4 Health coverage tax credit 37 Credit for tax on   undistributed capital gain 37 Tax paid with extension 1   Another credit that is treated as a payment is the credit for federal excise tax paid on fuels. Free tax filing 2012 state and federal This credit is for persons who have a nontaxable use of certain fuels, such as diesel fuel and kerosene. Free tax filing 2012 state and federal It is claimed on Form 1040, line 70. Free tax filing 2012 state and federal See Form 4136, Credit for Federal Tax Paid on Fuels. Free tax filing 2012 state and federal Refund or balance due. Free tax filing 2012 state and federal   To determine whether you are entitled to a refund or whether you must make a payment, compare your total payments with your total tax. Free tax filing 2012 state and federal If you are entitled to a refund, see your form instructions for information on having it directly deposited into one or more of your accounts, or to purchase U. Free tax filing 2012 state and federal S. Free tax filing 2012 state and federal savings bonds instead of receiving a paper check. Free tax filing 2012 state and federal Alternative Minimum Tax (AMT) This section briefly discusses an additional tax you may have to pay. Free tax filing 2012 state and federal The tax law gives special treatment to some kinds of income and allows special deductions and credits for some kinds of expenses. Free tax filing 2012 state and federal Taxpayers who benefit from this special treatment may have to pay at least a minimum amount of tax through an additional tax called AMT. Free tax filing 2012 state and federal You may have to pay the AMT if your taxable income for regular tax purposes, combined with certain adjustments and tax preference items, is more than a certain amount. Free tax filing 2012 state and federal See Form 6251, Alternative Minimum Tax — Individuals. Free tax filing 2012 state and federal Adjustments and tax preference items. Free tax filing 2012 state and federal   The more common adjustments and tax preference items include: Addition of personal exemptions, Addition of the standard deduction (if claimed), Addition of itemized deductions claimed for state and local taxes, certain interest, most miscellaneous deductions, and part of medical expenses, Subtraction of any refund of state and local taxes included in gross income, Changes to accelerated depreciation of certain property, Difference between gain or loss on the sale of property reported for regular tax purposes and AMT purposes, Addition of certain income from incentive stock options, Change in certain passive activity loss deductions, Addition of certain depletion that is more than the adjusted basis of the property, Addition of part of the deduction for certain intangible drilling costs, and Addition of tax-exempt interest on certain private activity bonds. Free tax filing 2012 state and federal More information. Free tax filing 2012 state and federal   For more information about the AMT, see the instructions for Form 6251. Free tax filing 2012 state and federal Tax Figured by IRS If you file by April 15, 2014, you can have the IRS figure your tax for you on Form 1040EZ, Form 1040A, or Form 1040. Free tax filing 2012 state and federal If the IRS figures your tax and you paid too much, you will receive a refund. Free tax filing 2012 state and federal If you did not pay enough, you will receive a bill for the balance. Free tax filing 2012 state and federal To avoid interest or the penalty for late payment, you must pay the bill within 30 days of the date of the bill or by the due date for your return, whichever is later. Free tax filing 2012 state and federal The IRS can also figure the credit for the elderly or the disabled and the earned income credit for you. Free tax filing 2012 state and federal When the IRS cannot figure your tax. Free tax filing 2012 state and federal   The IRS cannot figure your tax for you if any of the following apply. Free tax filing 2012 state and federal You want your refund directly deposited into your accounts. Free tax filing 2012 state and federal You want any part of your refund applied to your 2014 estimated tax. Free tax filing 2012 state and federal You had income for the year from sources other than wages, salaries, tips, interest, dividends, taxable social security benefits, unemployment compensation, IRA distributions, pensions, and annuities. Free tax filing 2012 state and federal Your taxable income is $100,000 or more. Free tax filing 2012 state and federal You itemize deductions. Free tax filing 2012 state and federal You file any of the following forms. Free tax filing 2012 state and federal Form 2555, Foreign Earned Income. Free tax filing 2012 state and federal Form 2555-EZ, Foreign Earned Income Exclusion. Free tax filing 2012 state and federal Form 4137, Social Security and Medicare Tax on Unreported Tip Income. Free tax filing 2012 state and federal Form 4970, Tax on Accumulation Distribution of Trusts. Free tax filing 2012 state and federal Form 4972, Tax on Lump-Sum Distributions. Free tax filing 2012 state and federal Form 6198, At-Risk Limitations. Free tax filing 2012 state and federal Form 6251, Alternative Minimum Tax—Individuals. Free tax filing 2012 state and federal Form 8606, Nondeductible IRAs. Free tax filing 2012 state and federal Form 8615, Tax for Certain Children Who Have Unearned Income. Free tax filing 2012 state and federal Form 8814, Parents' Election To Report Child's Interest and Dividends. Free tax filing 2012 state and federal Form 8839, Qualified Adoption Expenses. Free tax filing 2012 state and federal Form 8853, Archer MSAs and Long-Term Care Insurance Contracts. Free tax filing 2012 state and federal Form 8889, Health Savings Accounts (HSAs). Free tax filing 2012 state and federal Form 8919, Uncollected Social Security and Medicare Tax on Wages. Free tax filing 2012 state and federal Filing the Return After you complete the line entries for the tax form you are filing, fill in your name and address. Free tax filing 2012 state and federal Enter your social security number in the space provided. Free tax filing 2012 state and federal If you are married, enter the social security numbers of you and your spouse even if you file separately. Free tax filing 2012 state and federal Sign and date your return and enter your occupation(s). Free tax filing 2012 state and federal If you are filing a joint return, both you and your spouse must sign it. Free tax filing 2012 state and federal Enter your daytime phone number in the space provided. Free tax filing 2012 state and federal This may help speed the processing of your return if we have a question that can be answered over the phone. Free tax filing 2012 state and federal If you are filing a joint return, you may enter either your or your spouse's daytime phone number. Free tax filing 2012 state and federal If you want to allow a friend, family member, or any other person you choose to discuss your 2013 tax return with the IRS, check the “Yes” box in the “Third party designee” area on your return. Free tax filing 2012 state and federal Also enter the designee's name, phone number, and any five digits the designee chooses as his or her personal identification number (PIN). Free tax filing 2012 state and federal If you check the “Yes” box, you, and your spouse if filing a joint return, are authorizing the IRS to call the designee to answer any questions that may arise during the processing of your return. Free tax filing 2012 state and federal Fill in and attach any schedules and forms asked for on the lines you completed to your paper return. Free tax filing 2012 state and federal Attach a copy of each of your Forms W-2 to your paper return. Free tax filing 2012 state and federal Also attach to your paper return any Form 1099-R you received that has withholding tax in box 4. Free tax filing 2012 state and federal Mail your return to the Internal Revenue Service Center for the area where you live. Free tax filing 2012 state and federal A list of Service Center addresses is in the instructions for your tax return. Free tax filing 2012 state and federal Form 1040EZ Line Entries Read lines 1 through 8b and fill in the lines that apply to you. Free tax filing 2012 state and federal Do not complete lines 9 through 12. Free tax filing 2012 state and federal If you are filing a joint return, use the space to the left of line 6 to separately show your taxable income and your spouse's taxable income. Free tax filing 2012 state and federal Payments. Free tax filing 2012 state and federal   Enter any federal income tax withheld on line 7. Free tax filing 2012 state and federal Federal income tax withheld is shown on Form W-2, box 2, or Form 1099, box 4. Free tax filing 2012 state and federal Earned income credit. Free tax filing 2012 state and federal   If you can take this credit, as discussed in chapter 36, the IRS can figure it for you. Free tax filing 2012 state and federal Enter “EIC” in the space to the left of line 8a. Free tax filing 2012 state and federal Enter the nontaxable combat pay you elect to include in earned income on line 8b. Free tax filing 2012 state and federal   If your credit for any year after 1996 was reduced or disallowed by the IRS, you may also have to file Form 8862, Information To Claim Earned Income Credit After Disallowance, with your return. Free tax filing 2012 state and federal For details, see the Form 1040EZ Instructions. Free tax filing 2012 state and federal Form 1040A Line Entries Read lines 1 through 27 and fill in the lines that apply to you. Free tax filing 2012 state and federal If you are filing a joint return, use the space to the left of the entry space for line 27 to separately show your taxable income and your spouse's taxable income. Free tax filing 2012 state and federal Do not complete line 28. Free tax filing 2012 state and federal Complete lines 29 through 33 and 36 through 40 if they apply to you. Free tax filing 2012 state and federal However, do not fill in lines 30 and 38a if you want the IRS to figure the credits shown on those lines. Free tax filing 2012 state and federal Also, enter any write-in information that applies to you in the space to the left of line 41. Free tax filing 2012 state and federal Do not complete lines 34, 35, and 42 through 46. Free tax filing 2012 state and federal Payments. Free tax filing 2012 state and federal   Enter any federal income tax withheld that is shown on Form W-2, box 2, or Form 1099, box 4, on line 36. Free tax filing 2012 state and federal Enter any estimated tax payments you made on line 37. Free tax filing 2012 state and federal Credit for child and dependent care expenses. Free tax filing 2012 state and federal   If you can take this credit, as discussed in chapter 32, complete Form 2441, Child and Dependent Care Expenses, and attach it to your return. Free tax filing 2012 state and federal Enter the amount of the credit on line 29. Free tax filing 2012 state and federal The IRS will not figure this credit. Free tax filing 2012 state and federal Credit for the elderly or the disabled. Free tax filing 2012 state and federal   If you can take this credit, as discussed in chapter 33, the IRS can figure it for you. Free tax filing 2012 state and federal Enter “CFE” in the space to the left of line 30 and attach Schedule R (Form 1040A or 1040), Credit for the Elderly or the Disabled, to your paper return. Free tax filing 2012 state and federal On Schedule R (Form 1040A or 1040), check the box in Part I for your filing status and age. Free tax filing 2012 state and federal Complete Part II and Part III, lines 11 and 13, if they apply. Free tax filing 2012 state and federal Earned income credit. Free tax filing 2012 state and federal   If you can take this credit, as discussed in chapter 36, the IRS can figure it for you. Free tax filing 2012 state and federal Enter “EIC” to the left of the entry space for line 38a. Free tax filing 2012 state and federal Enter the nontaxable combat pay you elect to include in earned income on line 38b. Free tax filing 2012 state and federal    If you have a qualifying child, you must fill in Schedule EIC (Form 1040A or 1040), Earned Income Credit, and attach it to your paper return. Free tax filing 2012 state and federal If you do not provide the child's social security number on Schedule EIC, line 2, the credit will be reduced or disallowed unless the child was born and died in 2013. Free tax filing 2012 state and federal   If your credit for any year after 1996 was reduced or disallowed by the IRS, you may also have to file Form 8862 with your return. Free tax filing 2012 state and federal For details, see the Form 1040A Instructions. Free tax filing 2012 state and federal Form 1040 Line Entries Read lines 1 through 43 and fill in the lines that apply to you. Free tax filing 2012 state and federal Do not complete line 44. Free tax filing 2012 state and federal If you are filing a joint return, use the space under the words “Adjusted Gross Income” on the front of your return to separately show your taxable income and your spouse's taxable income. Free tax filing 2012 state and federal Read lines 45 through 71. Free tax filing 2012 state and federal Fill in the lines that apply to you, but do not fill in lines 54, 61, and 72. Free tax filing 2012 state and federal Also, do not complete line 55 and lines 73 through 77. Free tax filing 2012 state and federal Do not fill in line 53, box “c,” if you are completing Schedule R (Form 1040A or 1040), or line 64a if you want the IRS to figure the credits shown on those lines. Free tax filing 2012 state and federal Payments. Free tax filing 2012 state and federal   Enter any federal income tax withheld that is shown on Form W-2, box 2, or Form 1099, box 4, on line 62. Free tax filing 2012 state and federal Enter any estimated tax payments you made on line 63. Free tax filing 2012 state and federal Credit for child and dependent care expenses. Free tax filing 2012 state and federal   If you can take this credit, as discussed in chapter 32, complete Form 2441 and attach it to your paper return. Free tax filing 2012 state and federal Enter the amount of the credit on line 48. Free tax filing 2012 state and federal The IRS will not figure this credit. Free tax filing 2012 state and federal Credit for the elderly or the disabled. Free tax filing 2012 state and federal   If you can take this credit, as discussed in chapter 33, the IRS can figure it for you. Free tax filing 2012 state and federal Enter “CFE” on the line next to line 53, check box “c,” and attach Schedule R (Form 1040A or 1040) to your paper return. Free tax filing 2012 state and federal On Schedule R (Form 1040A or 1040), check the box in Part I for your filing status and age. Free tax filing 2012 state and federal Complete Part II and Part III, lines 11 and 13, if they apply. Free tax filing 2012 state and federal Earned income credit. Free tax filing 2012 state and federal   If you can take this credit, as discussed in chapter 36, the IRS can figure it for you. Free tax filing 2012 state and federal Enter “EIC” on the dotted line next to Form 1040, line 64a. Free tax filing 2012 state and federal Enter the nontaxable combat pay you elect to include in earned income on line 64b. Free tax filing 2012 state and federal   If you have a qualifying child, you must fill in Schedule EIC (Form 1040A or 1040), Earned Income Credit, and attach it to your paper return. Free tax filing 2012 state and federal If you do not provide the child's social security number on Schedule EIC, line 2, the credit will be reduced or disallowed unless the child was born and died in 2013. Free tax filing 2012 state and federal   If your credit for any year after 1996 was reduced or disallowed by the IRS, you may also have to file Form 8862 with your return. 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