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

TurboTax Federal Free Edition - File Taxes Online

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

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


© 2012 - 2018 All rights reserved.

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

H And R Block Taxes Free

2008 Tax Form 1040Ez Form 2014Can I Still File 2012 Taxes OnlineDownload A 1040ez Federal Tax FormIncome Tax Filing ExtensionFederal Tax Amendment FormHow To File An Amended Tax Return For 2012Ammend 2010 TaxesAmended Tax Return 2010File Taxes For FreeFile 2012 Taxes ElectronicallyFederal Amended Tax Forms2007 Tax SoftwareFree 1040ez 2014How To Amend Tax ReturnHow To Amend Tax Return OnlineFile Income Tax Online1040 NrFree Online Tax Filing 20121040 Tax Form WorksheetIncome Tax DeadlineBack Tax Filing211 Free Tax Preparation Help OnlineFile Taxes From 2012File Back Tax ReturnsMilitary Taxes By StateCan I File My 2010 TaxesStudents Taxes1040ez Tax Form InstructionsTurbotax 1040ezIrs EzFile 2010 State Tax ReturnStudent Income Tax ReturnEz Tax Form 20132012 EfileIrs Tax Extension1040x CalculatorHow To File 1040x Form1040nr Form 2013Where Can I File 2012 Taxes

H And R Block Taxes Free

H and r block taxes free Index A Abandonment of home, Abandonment. H and r block taxes free Absence, temporary, Temporary absence. H and r block taxes free Abstract fees, Settlement fees or closing costs. H and r block taxes free Address, change of, Reminders Adjusted basis, Adjusted Basis, Adjusted Basis Definition of, Determining Basis Worksheet 1 to figure, Determining Basis, Worksheet 1. H and r block taxes free Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 1. H and r block taxes free Adjusted Basis of Home Sold—Illustrated Example 3 for Emily White, Worksheet 1 Instructions. H and r block taxes free Adjusted Basis of Home Sold Adoption Adjusted basis of home for credit claimed, Decreases to Basis Advertising fees, Selling expenses. H and r block taxes free Amount realized, Amount Realized Appraisal fees, Settlement fees or closing costs. H and r block taxes free Architect's fees, Construction. H and r block taxes free Armed forces Ownership and use tests, Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps. H and r block taxes free Assistance (see Tax help) B Back interest, Settlement fees or closing costs. H and r block taxes free Basis Adjusted basis (see Adjusted basis) Determination of, Determining Basis, Adjusted Basis Other than cost, Basis Other Than Cost Building permit fees, Construction. H and r block taxes free Business use of home, Business Use or Rental of Home, Use test met for business part (with no business use in year of sale). H and r block taxes free C Casualties Amounts spent after to restore damaged property, Increases to Basis Deductible casualty losses, Decreases to Basis Disaster as cause of, Specific event safe harbors. H and r block taxes free Insurance payments for casualty losses, Decreases to Basis Change of address, Reminders Closing costs, Settlement fees or closing costs. H and r block taxes free Commissions, Selling expenses. H and r block taxes free , Settlement fees or closing costs. H and r block taxes free Community property Basis determination, Community property. H and r block taxes free Condemnation Gain exclusion, Home destroyed or condemned. H and r block taxes free Ownership and use test when previous home condemned, Previous home destroyed or condemned. H and r block taxes free Condominiums As main home, Main Home Basis determination, Condominium. H and r block taxes free Construction costs, Construction. H and r block taxes free Built by you, Built by you. H and r block taxes free Cooperative apartments As main home, Main Home Basis determination, Cooperative apartment. H and r block taxes free Ownership and use tests, Cooperative apartment. H and r block taxes free Cost as basis, Cost As Basis Credit reports Cost of obtaining, Settlement fees or closing costs. H and r block taxes free D Date of sale, Date of sale. H and r block taxes free Death Sale due to, Specific event safe harbors. H and r block taxes free Spouse's death before sale, ownership and use tests, Sale of main home by surviving spouse. H and r block taxes free Decreases to basis, Decreases to Basis Depreciation After May 6, 1997, Depreciation after May 6, 1997. H and r block taxes free Home used for business or rental purposes, Decreases to Basis Destroyed homes Gain exclusion, Home destroyed or condemned. H and r block taxes free Ownership and use test when previous home destroyed, Previous home destroyed or condemned. H and r block taxes free Disabilities, individuals with Ownership and use test, Exception for individuals with a disability. H and r block taxes free Disasters, Specific event safe harbors. H and r block taxes free Discharge of qualified principal residence indebtedness, Adjusted Basis Divorce Home received from spouse, Home received from spouse. H and r block taxes free Home transferred to spouse, Transfer to spouse. H and r block taxes free Ownership and use tests, Home transferred from spouse. H and r block taxes free Sale due to, Specific event safe harbors. H and r block taxes free Transfers after July 18, 1984, Transfers after July 18, 1984. H and r block taxes free Transfers before July 19, 1984, Transfers before July 19, 1984. H and r block taxes free Use of home after divorce, Use of home after divorce. H and r block taxes free Doctor's recommendation for sale, Doctor's recommendation safe harbor. H and r block taxes free E Easements, Decreases to Basis Employee of the intelligence community, Employee of the intelligence community. H and r block taxes free Employment Change in place of employment, Change in Place of Employment Payment by employer, when job transfer involved, Payment by employer. H and r block taxes free Energy Conservation subsidies, Decreases to Basis Credit, Decreases to Basis Exclusion of gain, Excluding the Gain, Nonqualified Use Reduced maximum exclusion, Reduced Maximum Exclusion Expatriates, Expatriates. H and r block taxes free F Federal mortgage subsidies Recapture of, Recapturing (Paying Back) a Federal Mortgage Subsidy Figuring gain or loss, Figuring Gain or Loss, More information. H and r block taxes free Fire insurance premiums, Settlement fees or closing costs. H and r block taxes free Foreclosure, Foreclosure or repossession. H and r block taxes free Foreign Service, Foreign Service member. H and r block taxes free Ownership and use tests, Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps. H and r block taxes free Form 1040 Reporting sale of home, Reporting the Sale Seller-financed mortgages, Seller-financed mortgage. H and r block taxes free Form 1040, Schedule A Real estate taxes, Real estate taxes. H and r block taxes free Form 1040, Schedule D Reporting sale of home, Reporting the Sale Form 1099-S Proceeds from real estate transactions, Date of sale. H and r block taxes free , Form 1099-S. H and r block taxes free , Form 1099-S. H and r block taxes free Form 2119 Sale of home, Adjusted Basis Form 6252 Installment sale income, Installment sale. H and r block taxes free Form 8828 Recapture tax, How to figure and report the recapture. H and r block taxes free Form 8960 Net Investment Income Tax, Net Investment Income Tax (NIIT). H and r block taxes free NIIT, Net Investment Income Tax (NIIT). H and r block taxes free Form 982 Discharge of indebtedness, Adjusted Basis Free tax services, Free help with your tax return. H and r block taxes free Future developments, Future Developments G Gain or loss Basis determination, Determining Basis, Adjusted Basis Exclusion of gain, Excluding the Gain Exclusion of gain, nonqualified use, Nonqualified Use Gain on sale, Gain on sale. H and r block taxes free Loss on sale, Loss on sale. H and r block taxes free Postponed from sale of previous home before May 7, 1997, Decreases to Basis Worksheet 2 to figure, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home—Completed Example 1 for Amy, Worksheet 1. H and r block taxes free Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home—Illustrated Example 2 for Peter and Betty Clark, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home—Illustrated Example 3 for Emily White, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home Gifts Home received as, Home received as gift. H and r block taxes free H Health Sale of home due to, Health Help (see Tax help) Homebuyer credit Recapture, Recapture of the post-2008 first-time homebuyer credit. H and r block taxes free Houseboats As main home, Main Home I Important reminders Change of address, Reminders Home sold with undeducted points, Reminders Improvements Adjusted basis determination, Improvements. H and r block taxes free Charges for, Settlement fees or closing costs. H and r block taxes free Receipts and other records, Adjusted Basis Useful life of more than 1 year, Increases to Basis Increases to basis, Increases to Basis Individual taxpayer identification numbers (ITINs), Individual taxpayer identification number (ITIN). H and r block taxes free Inheritance Home received as, Home acquired from a decedent who died before or after 2010. H and r block taxes free Installment sales, Installment sale. H and r block taxes free Involuntary conversion, Specific event safe harbors. H and r block taxes free ITINs (Individual taxpayer identification numbers), Individual taxpayer identification number (ITIN). H and r block taxes free J Joint owners not married, Joint owners not married. H and r block taxes free Joint returns, Jointly owned home. H and r block taxes free Ownership and use tests, Married Persons L Land Sale of land on which home located, Land. H and r block taxes free Sale of vacant land, Vacant land. H and r block taxes free Legal fees, Selling expenses. H and r block taxes free , Settlement fees or closing costs. H and r block taxes free , Construction. H and r block taxes free Legal separation Sale due to, Specific event safe harbors. H and r block taxes free Like-kind exchange, Sale of home acquired in a like-kind exchange. H and r block taxes free Living expenses, Reasonable basic living expenses. H and r block taxes free Loan assumption fees, Settlement fees or closing costs. H and r block taxes free Loan placement fees, Selling expenses. H and r block taxes free Loss (see Gain or loss) M Main home Defined, Main Home Factors used to determine, Factors used to determine main home. H and r block taxes free Property used partly as, Property used partly as your main home. H and r block taxes free , Property Used Partly for Business or Rental Married taxpayers (see Joint returns) Maximum exclusion, Maximum Exclusion Reduced, Reduced Maximum Exclusion Military (see Armed forces) Missing children, photographs of, Reminders Mobile homes As main home, Main Home More than one home, More than one home. H and r block taxes free Mortgage fees, Settlement fees or closing costs. H and r block taxes free Mortgage insurance premiums, Settlement fees or closing costs. H and r block taxes free Mortgage subsidies Recapturing (paying back) federal mortgage subsidy, Recapturing (Paying Back) a Federal Mortgage Subsidy Mortgages, seller-financed, Seller-financed mortgage. H and r block taxes free Moving expense, Settlement fees or closing costs. H and r block taxes free Multiple births Sale due to, Specific event safe harbors. H and r block taxes free N Nonqualified use, Nonqualified Use Nonresident aliens Spouse as, transfer of home to, Exception. H and r block taxes free O Option to buy home, Option to buy. H and r block taxes free Ownership and use tests, Ownership and Use Tests, Ownership and use tests met at different times. H and r block taxes free P Partly used for business, Property Used Partly for Business or Rental Personal property Selling price of home not to include, Personal property. H and r block taxes free Points, Selling expenses. H and r block taxes free Home sold with undeducted points, Reminders Seller-paid, Seller-paid points. H and r block taxes free Publications (see Tax help) R Real estate taxes, Settlement fees or closing costs. H and r block taxes free , Real estate taxes. H and r block taxes free Deducting in year of sale, Deducting Taxes in the Year of Sale Recapture of federal mortgage subsidy, Recapturing (Paying Back) a Federal Mortgage Subsidy Recapture of first-time homebuyer credit, Recapture of First-Time Homebuyer Credit Recording fees, Settlement fees or closing costs. H and r block taxes free Recordkeeping, Adjusted Basis Reduced maximum exclusion, Reduced Maximum Exclusion Worksheet 3, Worksheet 3. H and r block taxes free Reduced Maximum Exclusion Refinancing, Settlement fees or closing costs. H and r block taxes free Relatives Sale of home to, Exception for sales to related persons. H and r block taxes free Remainder interest Sale of, Sale of remainder interest. H and r block taxes free Remodeling, Improvements. H and r block taxes free , Exception. H and r block taxes free (see also Improvements) Rental of home, Business Use or Rental of Home, Use test met for business part (with no business use in year of sale). H and r block taxes free Before closing, by buyer, Settlement fees or closing costs. H and r block taxes free Partial use, Property Used Partly for Business or Rental Repairs, Settlement fees or closing costs. H and r block taxes free , Improvements. H and r block taxes free , Repairs. H and r block taxes free (see also Improvements) Reporting the sale, Reporting the Sale, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home—Illustrated Example 3 for Emily White Repossession, Foreclosure or repossession. H and r block taxes free Right-of-ways, Decreases to Basis S Safe harbors Distance safe harbor, Distance safe harbor. H and r block taxes free Doctor's recommendation for sale, Doctor's recommendation safe harbor. H and r block taxes free Unforeseeable events, Specific event safe harbors. H and r block taxes free Sales commissions, Selling expenses. H and r block taxes free , Settlement fees or closing costs. H and r block taxes free Sales to related persons, Exception for sales to related persons. H and r block taxes free Self-employed persons Change in status causing inability to pay basic expenses, Specific event safe harbors. H and r block taxes free Seller-financed mortgages, Seller-financed mortgage. H and r block taxes free Seller-paid points, Seller-paid points. H and r block taxes free Selling expenses, Selling expenses. H and r block taxes free Selling price, Selling Price Separate returns, Separate returns. H and r block taxes free Settlement fees, Settlement fees or closing costs. H and r block taxes free Spouse Death of (see Surviving spouse) Divorce, transfers subsequent to (see Divorce) Survey fees, Settlement fees or closing costs. H and r block taxes free Surviving spouse Basis determination, Surviving spouse. H and r block taxes free Ownership and use tests, Sale of main home by surviving spouse. H and r block taxes free T Tax help, How To Get Tax Help Temporary absence, Temporary absence. H and r block taxes free Temporary housing, Temporary housing. H and r block taxes free Title insurance, Settlement fees or closing costs. H and r block taxes free Title search fees, Settlement fees or closing costs. H and r block taxes free Trading homes, Trading (exchanging) homes. H and r block taxes free , Home received as trade. H and r block taxes free Transfer taxes, Settlement fees or closing costs. H and r block taxes free , Transfer taxes. H and r block taxes free Transfer to spouse, Transfer to spouse. H and r block taxes free After July 18, 1984, Transfers after July 18, 1984. H and r block taxes free Before July 19, 1984, Transfers before July 19, 1984. H and r block taxes free TTY/TDD information, How To Get Tax Help U Unemployment, Specific event safe harbors. H and r block taxes free Unforeseen circumstances, Unforeseen Circumstances Uniformed services (see Armed forces) Use tests, Ownership and Use Tests, Ownership and use tests met at different times. H and r block taxes free Utilities Charges for installing, Settlement fees or closing costs. H and r block taxes free Charges related to occupancy of house before closing, Settlement fees or closing costs. H and r block taxes free Energy conservation subsidy, Decreases to Basis Meter and connection charges for construction, Construction. H and r block taxes free V Vacant land Sale of, Vacant land. H and r block taxes free W Worksheets, Worksheets. H and r block taxes free Adjusted basis (Worksheet 1), Determining Basis, Worksheet 1. H and r block taxes free Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 1. H and r block taxes free Adjusted Basis of Home Sold—Illustrated Example 3 for Emily White, Worksheet 1 Instructions. H and r block taxes free Adjusted Basis of Home Sold Gain (or loss), exclusion, and taxable gain (Worksheet 2), Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home—Completed Example 1 for Amy, Worksheet 1. H and r block taxes free Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home—Illustrated Example 2 for Peter and Betty Clark, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home—Illustrated Example 3 for Emily White, Worksheet 2. H and r block taxes free Taxable Gain on Sale of Home Recordkeeping and, Adjusted Basis Reduced maximum exclusion (Worksheet 3), Worksheet 3. H and r block taxes free Reduced Maximum Exclusion Prev  Up     Home   More Online Publications
Español

The H And R Block Taxes Free

H and r block taxes free 5. H and r block taxes free   Table and Worksheets for the Self-Employed Table of Contents Community property laws. H and r block taxes free As discussed in chapters 2 and 4, if you are self-employed, you must use the rate table or rate worksheet and deduction worksheet to figure your deduction for contributions you made for yourself to a SEP-IRA or qualified plan. H and r block taxes free First, use either the rate table or rate worksheet to find your reduced contribution rate. H and r block taxes free Then complete the deduction worksheet to figure your deduction for contributions. H and r block taxes free The table and the worksheets in chapter 5 apply only to self-employed individuals who have only one defined contribution plan, such as a profit-sharing plan. H and r block taxes free A SEP plan is treated as a profit-sharing plan. H and r block taxes free However, do not use this worksheet for SARSEPs. H and r block taxes free Rate table for self-employed. H and r block taxes free   If your plan's contribution rate is a whole percentage (for example, 12% rather than 12½%), you can use the table on the next page to find your reduced contribution rate. H and r block taxes free Otherwise, use the rate worksheet provided below. H and r block taxes free   First, find your plan contribution rate (the contribution rate stated in your plan) in Column A of the table. H and r block taxes free Then read across to the rate under Column B. H and r block taxes free Enter the rate from Column B in step 4 of the Deduction Worksheet for Self-Employed on this page. H and r block taxes free    Example. H and r block taxes free You are a sole proprietor with no employees. H and r block taxes free If your plan's contribution rate is 10% of a participant's compensation, your rate is 0. H and r block taxes free 090909. H and r block taxes free Enter this rate in step 4 of the Deduction Worksheet for Self-Employed on this page. H and r block taxes free Deduction Worksheet for Self-Employed   Step 1           Enter your net profit from line 31, Schedule C (Form 1040); line 3, Schedule C-EZ (Form 1040); line 34, Schedule F (Form 1040)*; or box 14, code A**, Schedule K-1 (Form 1065)*. H and r block taxes free For information on other income included in net profit from self-employment, see the Instructions for Schedule SE, Form 1040. H and r block taxes free       *Reduce this amount by any amount reported on Schedule SE (Form 1040), line 1b. H and r block taxes free       **General partners should reduce this amount by the same additional expenses subtracted from box 14, code A to determine the amount on line 1 or 2 of Schedule SE. H and r block taxes free     Step 2           Enter your deduction for self-employment tax from Form 1040, line 27             Step 3           Net earnings from self-employment. H and r block taxes free Subtract step 2 from step 1     Step 4           Enter your rate from the Rate Table for Self-Employed or Rate Worksheet for Self-Employed     Step 5           Multiply step 3 by step 4     Step 6           Multiply $255,000 by your plan contribution rate (not the reduced rate)     Step 7           Enter the smaller of step 5 or step 6     Step 8           Contribution dollar limit $51,000     • If you made any elective deferrals to your self-employed plan, go to step 9. H and r block taxes free         • Otherwise, skip steps 9 through 20 and enter the smaller of step 7 or step 8 on step 21. H and r block taxes free       Step 9           Enter your allowable elective deferrals (including designated Roth contributions) made to your self-employed plan during 2013. H and r block taxes free Do not enter more than $17,500     Step 10           Subtract step 9 from step 8     Step 11           Subtract step 9 from step 3       Step 12           Enter one-half of step 11     Step 13           Enter the smallest of step 7, 10, or 12     Step 14           Subtract step 13 from step 3     Step 15           Enter the smaller of step 9 or step 14       • If you made catch-up contributions, go to step 16. H and r block taxes free         • Otherwise, skip steps 16 through 18 and go to step 19. H and r block taxes free       Step 16           Subtract step 15 from step 14     Step 17           Enter your catch-up contributions (including designated Roth contributions), if any. H and r block taxes free Do not enter more than $5,500     Step 18           Enter the smaller of step 16 or step 17     Step 19           Add steps 13, 15, and 18. H and r block taxes free     Step 20           Enter the amount of designated Roth contributions included on lines 9 and 17. H and r block taxes free     Step 21           Subtract step 20 from step 19. H and r block taxes free This is your maximum deductible contribution. H and r block taxes free                 Next: Enter your actual contribution, not to exceed your maximum deductible contribution, on Form 1040, line 28. H and r block taxes free   Rate worksheet for self-employed. H and r block taxes free   If your plan's contribution rate is not a whole percentage (for example, 10½%), you cannot use the Rate Table for Self-Employed. H and r block taxes free Use the following worksheet instead. H and r block taxes free Rate Worksheet for Self-Employed 1) Plan contribution rate as a decimal (for example, 10½% = 0. H and r block taxes free 105)   2) Rate in line 1 plus 1 (for example, 0. H and r block taxes free 105 + 1 = 1. H and r block taxes free 105)   3) Self-employed rate as a decimal rounded to at least 3 decimal places (line 1 ÷ line 2) (for example, 0. H and r block taxes free 105 ÷ 1. H and r block taxes free 105 = 0. H and r block taxes free 095)   Figuring your deduction. H and r block taxes free   Now that you have your self-employed rate from either the rate table or rate worksheet, you can figure your maximum deduction for contributions for yourself by completing the Deduction Worksheet for Self-Employed. H and r block taxes free Community property laws. H and r block taxes free   If you reside in a community property state and you are married and filing a separate return, disregard community property laws for step 1 of the Deduction Worksheet for Self-Employed. H and r block taxes free Enter on step 1 the total net profit you actually earned. H and r block taxes free Rate Table for Self-Employed Column A  If the plan contri- bution rate is: (shown as %) Column B  Your rate is: (shown as decimal) 1 . H and r block taxes free 009901 2 . H and r block taxes free 019608 3 . H and r block taxes free 029126 4 . H and r block taxes free 038462 5 . H and r block taxes free 047619 6 . H and r block taxes free 056604 7 . H and r block taxes free 065421 8 . H and r block taxes free 074074 9 . H and r block taxes free 082569 10 . H and r block taxes free 090909 11 . H and r block taxes free 099099 12 . H and r block taxes free 107143 13 . H and r block taxes free 115044 14 . H and r block taxes free 122807 15 . H and r block taxes free 130435 16 . H and r block taxes free 137931 17 . H and r block taxes free 145299 18 . H and r block taxes free 152542 19 . H and r block taxes free 159664 20 . H and r block taxes free 166667 21 . H and r block taxes free 173554 22 . H and r block taxes free 180328 23 . H and r block taxes free 186992 24 . H and r block taxes free 193548 25* . H and r block taxes free 200000* *The deduction for annual employer contributions (other than elective deferrals) to a SEP plan, a profit-sharing plan, or a money purchase plan cannot be more than 20% of your net earnings (figured without deducting contributions for yourself) from the business that has the plan. H and r block taxes free Example. H and r block taxes free You are a sole proprietor with no employees. H and r block taxes free The terms of your plan provide that you contribute 8½% (. H and r block taxes free 085) of your compensation to your plan. H and r block taxes free Your net profit from line 31, Schedule C (Form 1040) is $200,000. H and r block taxes free You have no elective deferrals or catch-up contributions. H and r block taxes free Your self-employment tax deduction on line 27 of Form 1040 is $9,728. H and r block taxes free See the filled-in portions of both Schedule SE (Form 1040), Self-Employment Income, and Form 1040, later. H and r block taxes free You figure your self-employed rate and maximum deduction for employer contributions you made for yourself as follows. H and r block taxes free Deduction Worksheet for Self-Employed   Step 1           Enter your net profit from line 31, Schedule C (Form 1040); line 3, Schedule C-EZ (Form 1040); line 34, Schedule F (Form 1040)*; or box 14, code A**, Schedule K-1 (Form 1065)*. H and r block taxes free For information on other income included in net profit from self-employment, see the Instructions for Schedule SE, Form 1040. H and r block taxes free $200,000     *Reduce this amount by any amount reported on Schedule SE (Form 1040), line 1b. H and r block taxes free       **General partners should reduce this amount by the same additional expenses subtracted from box 14, code A to determine the amount on line 1 or 2 of Schedule SE. H and r block taxes free     Step 2           Enter your deduction for self-employment tax from Form 1040, line 27 9,728           Step 3           Net earnings from self-employment. H and r block taxes free Subtract step 2 from step 1 190,272   Step 4           Enter your rate from the Rate Table for Self-Employed or Rate Worksheet for Self-Employed 0. H and r block taxes free 078   Step 5           Multiply step 3 by step 4 14,841   Step 6           Multiply $255,000 by your plan contribution rate (not the reduced rate) 21,675   Step 7           Enter the smaller of step 5 or step 6 14,841   Step 8           Contribution dollar limit $51,000     • If you made any elective deferrals to your self-employed plan, go to step 9. H and r block taxes free         • Otherwise, skip steps 9 through 20 and enter the smaller of step 7 or step 8 on step 21. H and r block taxes free       Step 9           Enter your allowable elective deferrals (including designated Roth contributions) made to your self-employed plan during 2013. H and r block taxes free Do not enter more than $17,500 N/A   Step 10           Subtract step 9 from step 8     Step 11           Subtract step 9 from step 3       Step 12           Enter one-half of step 11     Step 13           Enter the smallest of step 7, 10, or 12     Step 14           Subtract step 13 from step 3     Step 15           Enter the smaller of step 9 or step 14       • If you made catch-up contributions, go to step 16. H and r block taxes free         • Otherwise, skip steps 16 through 18 and go to step 19. H and r block taxes free       Step 16           Subtract step 15 from step 14     Step 17           Enter your catch-up contributions (including designated Roth contributions), if any. H and r block taxes free Do not enter more than $5,500     Step 18           Enter the smaller of step 16 or step 17     Step 19           Add steps 13, 15, and 18. H and r block taxes free     Step 20           Enter the amount of designated Roth contributions included on lines 9 and 17     Step 21           Subtract step 20 from step 19. H and r block taxes free This is your maximum deductible contribution $14,841                 Next: Enter your actual contribution, not to exceed your maximum deductible contribution, on Form 1040, line 28. H and r block taxes free   See the filled-in Deduction Worksheet for Self-Employed on this page. H and r block taxes free Rate Worksheet for Self-Employed 1) Plan contribution rate as a decimal (for example, 10½% = 0. H and r block taxes free 105) 0. H and r block taxes free 085 2) Rate in line 1 plus 1 (for example, 0. H and r block taxes free 105 + 1 = 1. H and r block taxes free 105) 1. H and r block taxes free 085 3) Self-employed rate as a decimal rounded to at least 3 decimal places (line 1 ÷ line 2) (for example, 0. H and r block taxes free 105 ÷ 1. H and r block taxes free 105 = 0. H and r block taxes free 095) 0. H and r block taxes free 078 This image is too large to be displayed in the current screen. H and r block taxes free Please click the link to view the image. H and r block taxes free Portion of Form 1040 and Portion of Schedule SE Prev  Up  Next   Home   More Online Publications