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How To Refile Taxes For 2012

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How To Refile Taxes For 2012

How to refile taxes for 2012 Index A Abandonment, Abandonment Accounting method Accrual, Accrual Method Cash, Cash Method Change in, Changes in Methods of Accounting Crop, Crop method. How to refile taxes for 2012 Farm inventory, Farm Inventory Accounting periods, Introduction Accrual method of accounting, Accrual Method Additional Medicare Tax withholding, What's New for 2013, Additional Medicare Tax. How to refile taxes for 2012 Adjusted basis for installment sale, Adjusted basis for installment sale purposes. How to refile taxes for 2012 Adjusted basis of assets, Adjusted Basis Agricultural activity codes, Schedule F, Reminders Agricultural program payments, Agricultural Program Payments Agricultural structure, defined, Agricultural structure. How to refile taxes for 2012 Alternative Depreciation System (ADS), Required use of ADS. How to refile taxes for 2012 , ADS election. How to refile taxes for 2012 Amortization Going into business, Business Start-Up Costs Reforestation expenses, Reforestation Costs Section 197 intangibles, Section 197 Intangibles Assessments By conservation district, Assessment by Conservation District Depreciable property, Assessment for Depreciable Property Assistance (see Tax help) Automobiles, depreciation, Limits for passenger automobiles. How to refile taxes for 2012 B Bankruptcy, Bankruptcy. How to refile taxes for 2012 Barter income, Barter income. How to refile taxes for 2012 Basis Adjusted, Adjusted basis. How to refile taxes for 2012 Installment sale, Adjusted basis for installment sale purposes. How to refile taxes for 2012 Involuntary conversion, Basis for depreciation. How to refile taxes for 2012 Like-kind exchange, Basis for depreciation. How to refile taxes for 2012 Partner's basis, Property Distributed From a Partnership or Corporation Replacement property, Basis of replacement property. How to refile taxes for 2012 Shareholder's basis, Property Distributed From a Partnership or Corporation Basis of assets Adjusted basis, Adjusted Basis Allocating to several assets, Allocating the Basis Changed to business use, Property changed from personal to business or rental use. How to refile taxes for 2012 Constructing assets, Constructing assets. How to refile taxes for 2012 Cost, Cost Basis Decreases, Decreases to Basis Depreciation, What Is the Basis for Depreciation? Exchanges Like-kind, Like-Kind Exchanges Nontaxable, Nontaxable Exchanges Partially nontaxable, Partially Nontaxable Exchanges Taxable, Taxable Exchanges Gifts, Property Received as a Gift Increases, Increases to Basis Real property, Real Property Received for services, Property received for services. How to refile taxes for 2012 Uniform capitalization rules, Uniform Capitalization Rules Below-market loans, Below-market loans. How to refile taxes for 2012 Books and records, Importance of Records Breeding fees, Breeding Fees Business income limit, section 179 expense deduction, Business Income Limit Business use of home, Business Use of Your Home C Canceled debt, Cancellation of Debt Capital assets, Capital Assets Capital expenses, Capital Expenses Car expenses, Truck and Car Expenses Cash method of accounting, Cash Method Casualties and thefts Adjustments to basis, Adjustments to basis. How to refile taxes for 2012 Casualty, defined, Casualty. How to refile taxes for 2012 Disaster area losses, Disaster Area Losses Leased property, Leased property. How to refile taxes for 2012 Livestock, Livestock or produce bought for resale. How to refile taxes for 2012 , Raised draft, breeding, dairy, or sporting animals. How to refile taxes for 2012 Reimbursement, Insurance and other reimbursements. How to refile taxes for 2012 Reporting gains and losses, Reporting Gains and Losses Theft, defined, Theft. How to refile taxes for 2012 Change in accounting method, Changes in Methods of Accounting Chickens, purchased, Chickens, seeds, and young plants. How to refile taxes for 2012 Christmas trees, Christmas tree cultivation. How to refile taxes for 2012 , Christmas trees. How to refile taxes for 2012 Club dues, Club dues and membership fees. How to refile taxes for 2012 Comments on publication, Comments and suggestions. How to refile taxes for 2012 Commodity Futures, Hedging (Commodity Futures) Wages, Noncash wages. How to refile taxes for 2012 Commodity Credit Corporation (CCC) Loans, Commodity Credit Corporation (CCC) Loans Market gain, Market Gain Community property, Community property. How to refile taxes for 2012 , Community property. How to refile taxes for 2012 Computer, software, Computer software. How to refile taxes for 2012 Condemnation, Casualties, Thefts, and Condemnations, Condemnation Conservation Cost-sharing exclusion, Conservation Expenses District assessments, Assessment by Conservation District Expenses, Conservation Expenses Plans, Conservation plan. How to refile taxes for 2012 Conservation Reserve Program, Conservation Reserve Program (CRP) payments. How to refile taxes for 2012 Conservation Reserve Program (CRP), Conservation Reserve Program (CRP) Constructing assets, Constructing assets. How to refile taxes for 2012 Constructive receipt of income, Constructive receipt. How to refile taxes for 2012 Contamination, Soil or other environmental contamination. How to refile taxes for 2012 Contract price, Contract price. How to refile taxes for 2012 Converted wetland, Converted Wetland and Highly Erodible Cropland Cooperatives, income from, Income From Cooperatives Cost-sharing exclusion, Cost-Sharing Exclusion (Improvements) Counter-cyclical payments, Direct payments and counter-cyclical payments. How to refile taxes for 2012 , Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 Credits Employment, Employment Credits Fuel tax, Fuel tax credit and refund. How to refile taxes for 2012 , How To Claim a Credit or Refund, Claiming a Credit Social security and Medicare, Earning credits in 2013. How to refile taxes for 2012 Social security coverage, How to become insured under social security. How to refile taxes for 2012 State unemployment tax, Tax rate and credit. How to refile taxes for 2012 Crew leaders, Crew Leaders Crop Destroyed, Standing crop destroyed by casualty. How to refile taxes for 2012 Insurance proceeds, Crop Insurance and Crop Disaster Payments Method of accounting, Crop method. How to refile taxes for 2012 Shares, Rents (Including Crop Shares) Unharvested, Cost of raising unharvested crops. How to refile taxes for 2012 , Section 1231 transactions. How to refile taxes for 2012 , Gain or loss. How to refile taxes for 2012 Cropland, highly erodible, Converted Wetland and Highly Erodible Cropland D Damage Casualties and thefts, Casualties and Thefts Crop insurance, Crop Insurance and Crop Disaster Payments Tree seedlings, Tree Seedlings Debt Bad, Nonbusiness bad debt. How to refile taxes for 2012 Canceled, Cancellation of Debt, Canceled debt excluded from income. How to refile taxes for 2012 , Cancellation of debt. How to refile taxes for 2012 , Canceled debt. How to refile taxes for 2012 Nonrecourse, Amount realized on a nonrecourse debt. How to refile taxes for 2012 Qualified farm, Qualified Farm Debt Qualified principal residence, Qualified Principal Residence Debt Recourse, Amount realized on a recourse debt. How to refile taxes for 2012 Depletion, Depletion Depreciation, Claiming the Special Depreciation Allowance ADS election, ADS election. How to refile taxes for 2012 Conservation assets, Depreciable conservation assets. How to refile taxes for 2012 Deduction, Overview of Depreciation Incorrect amount deducted, How Do You Correct Depreciation Deductions? Limit for automobiles, Limits for passenger automobiles. How to refile taxes for 2012 Listed property, Additional Rules for Listed Property Raised livestock, Livestock. How to refile taxes for 2012 Recapture, When Do You Recapture MACRS Depreciation?, Depreciation Recapture, Section 1250 Property When to file, Do You Have To File Form 4562? Depreciation allowable, Basis adjustment for depreciation allowed or allowable. How to refile taxes for 2012 Depreciation allowed, Basis adjustment for depreciation allowed or allowable. How to refile taxes for 2012 Direct payments, Direct payments and counter-cyclical payments. How to refile taxes for 2012 , Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 Disaster area losses, Disaster Area Losses Disaster payments, Crop Insurance and Crop Disaster Payments Disaster relief grants, Federal disaster relief grants. How to refile taxes for 2012 Disaster relief payments, Qualified disaster relief payments. How to refile taxes for 2012 Dispositions, Sale or other disposal of land during 9-year period. How to refile taxes for 2012 , Gain on sale of farmland. How to refile taxes for 2012 , Introduction Domestic production activities deduction, Domestic Production Activities Deduction Dyed diesel fuel, Dyed Diesel Fuel and Dyed Kerosene Dyed kerosene, Dyed Diesel Fuel and Dyed Kerosene E e-file, Reminders Easement, Easements and rights-of-way. How to refile taxes for 2012 , Easements. How to refile taxes for 2012 Election ADS depreciation, Electing ADS. How to refile taxes for 2012 , ADS election. How to refile taxes for 2012 Amortization Business start-up costs, Business Start-Up Costs Reforestation costs, Reforestation Costs Crop method, Election to use crop method. How to refile taxes for 2012 Cutting of timber, Election to treat cutting as a sale or exchange. How to refile taxes for 2012 Deducting conservation expenses, When to Deduct or Capitalize Not excluding cost-sharing payments, Electing not to exclude payments. How to refile taxes for 2012 Out of installment method, Electing out of the installment method. How to refile taxes for 2012 Postponing casualty gain, Postponing Gain Postponing reporting crop insurance proceeds, Election to postpone reporting until the following year. How to refile taxes for 2012 Section 179 expense deduction, How Do You Elect the Deduction? Electronic filing, Reminders Embryo transplants, Transplanted embryo. How to refile taxes for 2012 Employer identification number, Reminders, Employer identification number (EIN). How to refile taxes for 2012 Endangered species recovery expenses, Endangered species recovery expenses. How to refile taxes for 2012 Environmental contamination, Soil or other environmental contamination. How to refile taxes for 2012 Estimated tax Farm gross income, Gross Income From Farming Gross income, Gross Income Penalties, Estimated Tax Penalty for 2013 Exchanges Basis Like-kind, Like-Kind Exchanges Nontaxable, Nontaxable Exchanges Partially nontaxable, Partially Nontaxable Exchanges Taxable, Taxable Exchanges Like-kind, Like-Kind Exchanges Nontaxable, Like-Kind Exchanges Excise taxes Credit, Claiming a Credit Diesel fuel, Dyed Diesel Fuel and Dyed Kerosene Farming purposes, Fuels Used in Farming Home use of fuels, Fuels Used for Household Purposes or Other Than as a Fuel for Propulsion Engines Off-highway uses, Fuels Used in Off-Highway Business Use Refund, Claiming a Refund F Fair market value defined, Fair market value (FMV). How to refile taxes for 2012 , Fair market value (FMV). How to refile taxes for 2012 Family member Business expenses, Special rule for related persons. How to refile taxes for 2012 Installment sale, Sale to a related person. How to refile taxes for 2012 Like-kind exchange, Like-kind exchanges between related persons. How to refile taxes for 2012 Loss on sale or exchange of property, Losses from sales or exchanges between related persons. How to refile taxes for 2012 Personal-use property, Personal-use property. How to refile taxes for 2012 Social security coverage, Family Employees Farm Business expenses, Farm Business Expenses Business, defined, Business of Farming Defined, Farm defined. How to refile taxes for 2012 , Farm. How to refile taxes for 2012 Income averaging, Income Averaging for Farmers Rental, Farm rental. How to refile taxes for 2012 Sale of, Sale of a Farm Farmer, Farmer. How to refile taxes for 2012 Federal unemployment tax (FUTA), Federal Unemployment (FUTA) Tax Fertilizer, Fertilizer and Lime, Fertilizer and Lime Foreclosure, Foreclosure or Repossession Forestation costs, Forestation and reforestation costs. How to refile taxes for 2012 Form 1099-A, Form 1099-A. How to refile taxes for 2012 , Forms 1099-A and 1099-C. How to refile taxes for 2012 1099-C, Cancellation of Debt, Form 1099-C. How to refile taxes for 2012 , Forms 1099-A and 1099-C. How to refile taxes for 2012 1099-G, Market Gain, Payment to More Than One Person 1099-MISC, Reminders, Nonemployee compensation. How to refile taxes for 2012 1099-PATR, Form 1099-PATR. How to refile taxes for 2012 1128, Introduction 2210-F, Estimated Tax Penalty for 2013 3115, Changes in Methods of Accounting 4136, Claiming a Credit 4562, Do You Have To File Form 4562? 4797, Form 4797. How to refile taxes for 2012 , Recapture. How to refile taxes for 2012 , Reporting the exchange. How to refile taxes for 2012 4835, Rents (Including Crop Shares) 5213, Using the presumption later. How to refile taxes for 2012 6252, Form 6252. How to refile taxes for 2012 8822, Reminders 8824, Reporting the exchange. How to refile taxes for 2012 8849, Claiming a Refund 8886, Reminders 940, Form 940. How to refile taxes for 2012 943, Form 943. How to refile taxes for 2012 982, Form 982 I-9, Form I-9. How to refile taxes for 2012 SS-4, Reminders, Employer identification number (EIN). How to refile taxes for 2012 SS-5, Obtaining a social security number. How to refile taxes for 2012 T (Timber), Form T (Timber). How to refile taxes for 2012 W-2, Form W-2. How to refile taxes for 2012 W-4, Reminders, New hire reporting. How to refile taxes for 2012 , Form W-4. How to refile taxes for 2012 W-4V, Commodity Credit Corporation (CCC) Loans, Crop Insurance and Crop Disaster Payments W-7, Obtaining an individual taxpayer identification number. How to refile taxes for 2012 Free tax services, How To Get Tax Help, Free help with your tax return. How to refile taxes for 2012 Fuel tax credit or refund, Fuel tax credit and refund. How to refile taxes for 2012 , How To Claim a Credit or Refund G Gains and losses Basis of assets, Cost Basis Capital assets, defined, Capital Assets Casualty, How To Figure a Loss, Figuring a Gain Installment sales, Installment Sales Livestock, Livestock Long- or short-term, Long and Short Term Ordinary or capital, Ordinary or Capital Gain or Loss Sale of farm, Sale of a Farm Section 1231, Section 1231 Gains and Losses Theft, How To Figure a Loss, Figuring a Gain Timber, Timber General asset accounts, How Do You Use General Asset Accounts? Gifts, Crop shares you give to others (gift). How to refile taxes for 2012 , Cost related to gifts. How to refile taxes for 2012 , Property Received as a Gift, Gift. How to refile taxes for 2012 Going into business, Business Start-Up Costs Grants, disaster relief, Federal disaster relief grants. How to refile taxes for 2012 Gross profit percentage, Gross profit percentage. How to refile taxes for 2012 Gross profit, defined, Gross profit. How to refile taxes for 2012 Guarantee, Debt not payable on demand. How to refile taxes for 2012 H Health insurance deduction, Self-employed health insurance deduction. How to refile taxes for 2012 Hedging, Hedging (Commodity Futures) Help (see Tax help) Highway use tax, Highway use tax. How to refile taxes for 2012 Holding period, Holding period. How to refile taxes for 2012 Horticultural structure, Horticultural structure. How to refile taxes for 2012 I Illegal irrigation subsidy, Illegal federal irrigation subsidy. How to refile taxes for 2012 Important dates, Important Dates for 2014 Improvements, Cost-Sharing Exclusion (Improvements) Income Accounting for, Accounting Methods Accrual method of accounting, Income Canceled debt excluded, Cancellation of Debt From farming, Farm Income, Gross income from farming. How to refile taxes for 2012 , Gross Income From Farming Gross, Gross Income Not-for-profit farming, Not-for-Profit Farming Pasture, Pasture income and rental. How to refile taxes for 2012 Schedule F, Farm Income Withholding of tax, Federal Income Tax Withholding Income averaging (see Farm: Income averaging) Incorrect amount of depreciation deducted, How Do You Correct Depreciation Deductions? Individual taxpayer identification number (ITIN), Obtaining an individual taxpayer identification number. How to refile taxes for 2012 Inherited property, Inherited Property Insolvency, Insolvency. How to refile taxes for 2012 Installment sales, Form 6252. How to refile taxes for 2012 Electing out, Electing out of the installment method. How to refile taxes for 2012 Farm, sale of, Installment Sale of a Farm Figuring income, Figuring Installment Sale Income Reporting income, Form 6252. How to refile taxes for 2012 Unstated interest, Unstated interest. How to refile taxes for 2012 Insurance, Insurance, Self-employed health insurance deduction. How to refile taxes for 2012 Intangible property, Section 197 Intangibles Interest Expense, Interest Income, Interest income. How to refile taxes for 2012 Unstated, Unstated interest. How to refile taxes for 2012 Inventory Items included, Farm Inventory Methods of valuation, Inventory valuation methods. How to refile taxes for 2012 Involuntary conversions, Involuntary Conversions, Property acquired in a like-kind exchange or involuntary conversion. How to refile taxes for 2012 , Introduction Irrigation Illegal subsidy, Illegal federal irrigation subsidy. How to refile taxes for 2012 Project, Irrigation Project L Labor hired, Labor Hired Landlord participation, Landlord Participation in Farming Lease or purchase, Lease or Purchase Life tenant (see Term interests) Like-kind exchanges, Like-Kind Exchanges, Like-Kind Exchanges Lime, Fertilizer and Lime Limits At-risk, At-Risk Limits Business use of home, Deduction limit. How to refile taxes for 2012 Capital losses, Treatment of Capital Losses Conservation expenses, Assessment for Depreciable Property, 25% Limit on Deduction Depreciation Business-use, What Is the Business-Use Requirement? Excluded farm debt, Exclusion limit. How to refile taxes for 2012 Farm losses, Losses From Operating a Farm Loss of personal-use property, Deduction Limits on Losses of Personal-Use Property Not-for-profit farming, Not-for-Profit Farming Passive activity, Passive Activity Limits Percentage depletion, Taxable income limit. How to refile taxes for 2012 Prepaid farm supplies, Deduction limit. How to refile taxes for 2012 Reforestation costs, Reforestation Costs Section 179 expense deduction Automobile, Limits for passenger automobiles. How to refile taxes for 2012 Business income, Business Income Limit Dollar, Dollar Limits Time to keep records, How Long To Keep Records Listed property Defined, What Is Listed Property? Passenger automobile, Passenger automobiles. How to refile taxes for 2012 Rules, Additional Rules for Listed Property Livestock, Section 1231 transactions. How to refile taxes for 2012 Casualty and theft losses, Livestock or produce bought for resale. How to refile taxes for 2012 Crop shares, Crop shares you use to feed livestock. How to refile taxes for 2012 Depreciation, Livestock. How to refile taxes for 2012 Diseased, Diseased livestock. How to refile taxes for 2012 Feed assistance, Feed Assistance and Payments Immature, Immature livestock. How to refile taxes for 2012 Losses, Loss of livestock. How to refile taxes for 2012 , Livestock Purchased, Purchased livestock. How to refile taxes for 2012 Raised, Raised livestock. How to refile taxes for 2012 Sale of, Sales of Farm Products, Livestock Unit-livestock-price, inventory valuation, Unit-livestock-price method. How to refile taxes for 2012 Used in a farm business, Livestock used in farm business. How to refile taxes for 2012 Weather-related sales, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. How to refile taxes for 2012 Loans, Commodity Credit Corporation (CCC) Loans, Loan expenses. How to refile taxes for 2012 Losses At-risk limits, At-Risk Limits Casualty, Casualties, Thefts, and Condemnations Disaster areas, Disaster Area Losses Farming, Farming Losses Growing crops, Loss of growing plants, produce, and crops. How to refile taxes for 2012 Hobby farming, Not-for-Profit Farming Livestock, Livestock, Diseased livestock. How to refile taxes for 2012 Nondeductible, Other Nondeductible Items Theft, Casualties, Thefts, and Condemnations Lost income payments, Lost income payments. How to refile taxes for 2012 Lost property, Mislaid or lost property. How to refile taxes for 2012 M MACRS property Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. How to refile taxes for 2012 Like-kind exchange, Property acquired in a like-kind exchange or involuntary conversion. How to refile taxes for 2012 Nontaxable transfer, Property acquired in a nontaxable transfer. How to refile taxes for 2012 Market gain, reporting, Market Gain Marketing quota penalties, Marketing Quota Penalties Material participation, Landlord Participation in Farming Meals, Meals. How to refile taxes for 2012 Membership fees, Club dues and membership fees. How to refile taxes for 2012 Methods of accounting, Accounting Methods Modified ACRS (MACRS) ADS election, ADS election. How to refile taxes for 2012 Conventions, Which Convention Applies? Depreciation methods, Which Depreciation Method Applies? Exchange, Property acquired in a like-kind exchange or involuntary conversion. How to refile taxes for 2012 Figuring the deduction, How Is the Depreciation Deduction Figured? Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. How to refile taxes for 2012 Nontaxable transfer, Property acquired in a nontaxable transfer. How to refile taxes for 2012 Percentage tables, Rules for using the tables. How to refile taxes for 2012 Property classes, Which Property Class Applies Under GDS? Recovery periods, Which Recovery Period Applies? N New hire reporting, New hire reporting. How to refile taxes for 2012 Noncapital asset, Noncapital Assets Nontaxable exchanges, Like-Kind Exchanges Nontaxable transfer of MACRS property, Property acquired in a nontaxable transfer. How to refile taxes for 2012 Not-for-profit farming, Not-for-Profit Farming O Organizational costs, Business start-up and organizational costs. How to refile taxes for 2012 P Partners, limited, Limited partner. How to refile taxes for 2012 Partners, retired, Retired partner. How to refile taxes for 2012 Partners, Spouse, Business Owned and Operated by Spouses. How to refile taxes for 2012 Partnership, Partnership income or loss. How to refile taxes for 2012 Passenger automobile, Passenger automobiles. How to refile taxes for 2012 Pasture income, Pasture income and rental. How to refile taxes for 2012 Patronage dividends, Patronage Dividends Payments considered received, Payments Received or Considered Received Payments received, Payments Received or Considered Received Penalties Estimated tax, Estimated Tax Penalty for 2013 Returns, Estimated Tax Penalty for 2013 Trust fund recovery, Trust fund recovery penalty. How to refile taxes for 2012 Per-unit retain certificates, Per-Unit Retain Certificates Personal expenses, Personal, Living, and Family Expenses Placed in service, Placed in Service, What Is the Placed-in-Service Date? Postponing casualty gain, Postponing Gain Prepaid expense Advance premiums, Advance premiums. How to refile taxes for 2012 Extends useful life, Prepayment. How to refile taxes for 2012 Farm supplies, Prepaid Farm Supplies Livestock feed, Prepaid Livestock Feed Prizes, Prizes. How to refile taxes for 2012 Produce, Sales of Farm Products Property Changed to business use, Property changed from personal to business or rental use. How to refile taxes for 2012 Received for services, Property received for services. How to refile taxes for 2012 Repairs and improvements, How Do You Treat Repairs and Improvements? Section 1231, Section 1231 transactions. How to refile taxes for 2012 Section 1245, Section 1245 Property Section 1250, Section 1250 Property Section 1252, Section 1252 property. How to refile taxes for 2012 Section 1255, Section 1255 property. How to refile taxes for 2012 Tangible personal, Tangible personal property. How to refile taxes for 2012 Publications (see Tax help) Q Qualified disaster relief payments, Qualified disaster relief payments. How to refile taxes for 2012 Qualified farm debt, Qualified Farm Debt Qualified joint venture, Qualified joint venture. How to refile taxes for 2012 Qualified principal residence debt, Qualified Principal Residence Debt R Recapture Amortization, Depreciation and amortization. How to refile taxes for 2012 Basis reductions, Recapture of basis reductions. How to refile taxes for 2012 Certain depreciation, Recapture of certain depreciation. How to refile taxes for 2012 Cost-sharing payments, Recapture. How to refile taxes for 2012 Depreciation, When Do You Recapture MACRS Depreciation?, Depreciation Recapture, Depreciation recapture. How to refile taxes for 2012 Section 1245 property, Section 1245 Property Section 1250 property, Section 1250 Property Section 179 expense deduction, When Must You Recapture the Deduction? Section 179 GO Zone property, Recapture for qualified section 179 GO Zone property. How to refile taxes for 2012 Special depreciation allowance, When Must You Recapture an Allowance Recordkeeping, Importance of Records, Meals. How to refile taxes for 2012 Records on depreciable property, Depreciation Recapture Reforestation costs, Forestation and reforestation costs. How to refile taxes for 2012 , Reforestation Costs Refund Deduction taken, Refund or reimbursement. How to refile taxes for 2012 Fuel tax, Fuel tax credit and refund. How to refile taxes for 2012 , Including the Credit or Refund in Income Reimbursements Casualties and thefts, Casualty and theft losses. How to refile taxes for 2012 , Casualties and Thefts, Insurance and other reimbursements. How to refile taxes for 2012 Deduction taken, Refund or reimbursement. How to refile taxes for 2012 Expenses, Reimbursed expenses. How to refile taxes for 2012 Feed assistance, Feed Assistance and Payments Real estate taxes, Real estate taxes. How to refile taxes for 2012 Reforestation expenses, Qualifying costs. How to refile taxes for 2012 To employees, Reimbursements to employees. How to refile taxes for 2012 Related persons, Special rule for related persons. How to refile taxes for 2012 , Losses from sales or exchanges between related persons. How to refile taxes for 2012 , Special rules for related persons. How to refile taxes for 2012 , Like-kind exchanges between related persons. How to refile taxes for 2012 , Sale to a related person. How to refile taxes for 2012 , Buying replacement property from a related person. How to refile taxes for 2012 , Related persons. How to refile taxes for 2012 Rental income, Rents (Including Crop Shares) Rented property, improvements, Improvements to rented property. How to refile taxes for 2012 Repairs, Repairs and Maintenance Repairs and improvements, How Do You Treat Repairs and Improvements? Repayment of income, Repayment of income. How to refile taxes for 2012 Replacement Period, Replacement Period Property, Replacement Property Reportable transactions. How to refile taxes for 2012 , Reminders Repossessions, Foreclosure or Repossession Right-of-way income, Easements and rights-of-way. How to refile taxes for 2012 S Sale of home, Sale of your home. How to refile taxes for 2012 Section 179 expense deduction, Section 179 Expense Deduction How to elect, How Do You Elect the Deduction? Listed property, Additional Rules for Listed Property Qualifying property, What Property Qualifies? Recapture, When Must You Recapture the Deduction? Self-employed health insurance, Self-employed health insurance deduction. How to refile taxes for 2012 Self-employed health insurance deduction, Self-employed health insurance deduction. How to refile taxes for 2012 Self-employment tax Community property, Community property. How to refile taxes for 2012 Deduction, Deduction for employer-equivalent portion of self-employment tax. How to refile taxes for 2012 How to pay, How To Pay Self-Employment Tax Landlord participation, Landlord Participation in Farming Material participation, Material participation for landlords. How to refile taxes for 2012 Maximum net earnings, What's New for 2013 Methods for figuring net earnings, Methods for Figuring Net Earnings Optional method, Farm Optional Method Regular method, Regular Method Rental income, Landlord Participation in Farming Reporting, Reporting Self-Employment Tax Self-employment tax rate, Self-employment tax rate. How to refile taxes for 2012 Share farming, Share farmer. How to refile taxes for 2012 Tax rates, What's New for 2013 Who must pay, Who Must Pay Self-Employment Tax? Selling expenses, Selling expenses. How to refile taxes for 2012 Selling price Defined, Selling price. How to refile taxes for 2012 Reduced, Selling price reduced. How to refile taxes for 2012 Settlement costs (fees), Settlement costs. How to refile taxes for 2012 Social security and Medicare Credits of coverage, Earning credits in 2013. How to refile taxes for 2012 Withholding of tax, Social Security and Medicare Taxes Social security number, Obtaining a social security number. How to refile taxes for 2012 Software, computer, Computer software. How to refile taxes for 2012 Soil Conservation, Conservation Expenses Contamination, Soil or other environmental contamination. How to refile taxes for 2012 Special depreciation allowance How to elect not to claim, How Can You Elect Not To Claim the Allowance? Recapture, When Must You Recapture an Allowance Standard mileage rate, Standard mileage rate. How to refile taxes for 2012 Start-up costs for businesses, Business start-up and organizational costs. How to refile taxes for 2012 Suggestions for publication, Comments and suggestions. How to refile taxes for 2012 T Tangible personal property, Tangible personal property. How to refile taxes for 2012 Tax help, How To Get Tax Help Tax preparation fees, Tax preparation fees. How to refile taxes for 2012 Tax shelter At-risk limits, At-Risk Limits Defined, Tax shelter. How to refile taxes for 2012 Tax-free exchanges, Like-Kind Exchanges Taxes Excise, Excise Taxes Federal use, Highway use tax. How to refile taxes for 2012 General, Taxes Self-employment, Self-Employment Tax State and federal, State and federal income taxes. How to refile taxes for 2012 State and local general sales, State and local general sales taxes. How to refile taxes for 2012 Withholding, Federal income tax withholding. How to refile taxes for 2012 , Social Security and Medicare Taxes, Federal Income Tax Withholding Telephone expense, Telephone expense. How to refile taxes for 2012 Tenant house expenses, Tenant House Expenses Term interests, Certain term interests in property. How to refile taxes for 2012 Theft losses, Casualties, Thefts, and Condemnations Timber, Timber. How to refile taxes for 2012 , Timber Depletion, Timber Tobacco quota buyout payments, Tobacco Quota Buyout Program Payments Tobacco settlement payments, National Tobacco Growers' Settlement Trust Fund Payments Trade-in, Sale and Purchase Travel expenses, Travel Expenses Truck expenses, Truck and Car Expenses Trust fund recovery penalty, Trust fund recovery penalty. How to refile taxes for 2012 TTY/TDD information, How To Get Tax Help U Uniform capitalization rules Basis of assets, Uniform Capitalization Rules Inventory, Uniform capitalization rules. How to refile taxes for 2012 Unstated interest, Unstated interest. How to refile taxes for 2012 W Wages and salaries, Wages and salaries. How to refile taxes for 2012 Water conservation, Conservation Expenses Water well, Water well. How to refile taxes for 2012 , Water wells. How to refile taxes for 2012 Weather-related sales, livestock, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. How to refile taxes for 2012 Withholding Income tax, Federal Income Tax Withholding Social security and Medicare tax, Social Security and Medicare Taxes Prev  Up     Home   More Online Publications
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Understanding Your CP53A Notice

We tried to direct deposit your refund, but the financial institution couldn’t process it. We are researching your account, but it will take 8 to 10 weeks to reissue your refund.


What you need to do

  • If you don’t receive your refund check or a follow-up letter within 10 weeks, call us at 1-866-682-7451 x733.
  • If you call us before then, we won’t have any information about the status of your refund until we complete the research on your account.

Answers to Common Questions

Why was my direct deposit refund returned to the IRS?
A financial institution will reject a refund for a variety of reasons. Most often, one of the following items doesn’t match its records:

  • Name
  • SSN
  • Routing number
  • Account number

Why will it take up to 10 weeks to receive my refund?
We must research your account to determine if you are entitled to the refund. We try to balance customer service and tax compliance by reviewing tax returns to prevent fraudulent or erroneous refunds. However, these critical reviews add time to refund processing. Refund timeframes are also affected by:

  • Bankruptcy
  • An open audit
  • A balance due on a related account (such as a different tax year)

Will calling the IRS give me additional information or speed my refund?
No, calling the IRS won’t do anything to speed your refund. You don’t need to call us unless we ask you to. If we need more information to process your refund, we’ll contact you by mail. Our telephone assistors won’t be able to provide any additional information.

Is the estimated date my tax preparer, tax software, or “Where’s My Refund” provided a guarantee of when I’ll get my refund?
Unfortunately, we can’t guarantee the date when a taxpayer will get his or her refund. While we can provide an estimate, this is a “best-case scenario” where the tax return doesn’t require any additional review or corrections.We work hard to issue refunds as quickly as possible. However, you shouldn’t make major financial decisions based on the estimated issue date of a tax refund.

Can I direct part of my refund into my tax professional’s checking or savings account to pay my tax preparation fee?
No. You can direct your refund to any of your checking or savings accounts. You can’t direct your refund to someone else’s account (except for your spouse’s account when you have a joint refund).


Tips for next year

If you request a direct deposit refund, ensure the account you specify is in your name (or your spouse’s if you have a joint refund).

Page Last Reviewed or Updated: 04-Mar-2014

Printable samples of this notice (PDF)

 

 

How to get help

  • Call the 1-800 number listed on the top right corner of your notice.
  • Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
     

The How To Refile Taxes For 2012

How to refile taxes for 2012 8. How to refile taxes for 2012   Qualified Tuition Program (QTP) Table of Contents Introduction What Is a Qualified Tuition ProgramDesignated beneficiary. How to refile taxes for 2012 Half-time student. How to refile taxes for 2012 How Much Can You Contribute Are Distributions TaxableFiguring the Taxable Portion of a Distribution Additional Tax on Taxable Distributions Rollovers and Other TransfersRollovers Changing the Designated Beneficiary Introduction Qualified tuition programs (QTPs) are also called “529 plans. How to refile taxes for 2012 ” States may establish and maintain programs that allow you to either prepay or contribute to an account for paying a student's qualified education expenses at a postsecondary institution. How to refile taxes for 2012 Eligible educational institutions may establish and maintain programs that allow you to prepay a student's qualified education expenses. How to refile taxes for 2012 If you prepay tuition, the student (designated beneficiary) will be entitled to a waiver or a payment of qualified education expenses. How to refile taxes for 2012 You cannot deduct either payments or contributions to a QTP. How to refile taxes for 2012 For information on a specific QTP, you will need to contact the state agency or eligible educational institution that established and maintains it. How to refile taxes for 2012 What is the tax benefit of a QTP. How to refile taxes for 2012   No tax is due on a distribution from a QTP unless the amount distributed is greater than the beneficiary's adjusted qualified education expenses. How to refile taxes for 2012 See Are Distributions Taxable , later, for more information. How to refile taxes for 2012    Even if a QTP is used to finance a student's education, the student or the student's parents still may be eligible to claim the American opportunity credit or the lifetime learning credit. How to refile taxes for 2012 See Coordination With American Opportunity and Lifetime Learning Credits, later. How to refile taxes for 2012 What Is a Qualified Tuition Program A qualified tuition program is a program set up to allow you to either prepay, or contribute to an account established for paying, a student's qualified education expenses at an eligible educational institution. How to refile taxes for 2012 QTPs can be established and maintained by states (or agencies or instrumentalities of a state) and eligible educational institutions. How to refile taxes for 2012 The program must meet certain requirements. How to refile taxes for 2012 Your state government or the eligible educational institution in which you are interested can tell you whether or not they participate in a QTP. How to refile taxes for 2012 Qualified education expenses. How to refile taxes for 2012   These are expenses related to enrollment or attendance at an Eligible educational institution (defined later). How to refile taxes for 2012 As shown in the following list, to be qualified, some of the expenses must be required by the institution and some must be incurred by students who are enrolled at least half-time. How to refile taxes for 2012 See Half-time student , later. How to refile taxes for 2012 The following expenses must be required for enrollment or attendance of a Designated beneficiary (defined later) at an eligible educational institution. How to refile taxes for 2012 Tuition and fees. How to refile taxes for 2012 Books, supplies, and equipment. How to refile taxes for 2012 Expenses for special needs services needed by a special needs beneficiary must be incurred in connection with enrollment or attendance at an eligible educational institution. How to refile taxes for 2012 Expenses for room and board must be incurred by students who are enrolled at least half-time. How to refile taxes for 2012 The expense for room and board qualifies only to the extent that it is not more than the greater of the following two amounts. How to refile taxes for 2012 The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. How to refile taxes for 2012 The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. How to refile taxes for 2012 You will need to contact the eligible educational institution for qualified room and board costs. How to refile taxes for 2012    For tax years after 2010, the purchase of computer technology or equipment is only a qualified education expense if the computer technology or equipment is required for enrollment or attendance at an eligible institution. How to refile taxes for 2012 Designated beneficiary. How to refile taxes for 2012   The designated beneficiary is generally the student (or future student) for whom the QTP is intended to provide benefits. How to refile taxes for 2012 The designated beneficiary can be changed after participation in the QTP begins. How to refile taxes for 2012 If a state or local government or certain tax-exempt organizations purchase an interest in a QTP as part of a scholarship program, the designated beneficiary is the person who receives the interest as a scholarship. How to refile taxes for 2012 Half-time student. How to refile taxes for 2012   A student is enrolled “at least half-time” if he or she is enrolled for at least half the full-time academic workload for the course of study the student is pursuing, as determined under the standards of the school where the student is enrolled. How to refile taxes for 2012 Eligible educational institution. How to refile taxes for 2012   For purposes of a QTP, this is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. How to refile taxes for 2012 S. How to refile taxes for 2012 Department of Education. How to refile taxes for 2012 It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. How to refile taxes for 2012 The educational institution should be able to tell you if it is an eligible educational institution. How to refile taxes for 2012   Certain educational institutions located outside the United States also participate in the U. How to refile taxes for 2012 S. How to refile taxes for 2012 Department of Education's Federal Student Aid (FSA) programs. How to refile taxes for 2012   How Much Can You Contribute Contributions to a QTP on behalf of any beneficiary cannot be more than the amount necessary to provide for the qualified education expenses of the beneficiary. How to refile taxes for 2012 There are no income restrictions on the individual contributors. How to refile taxes for 2012 You can contribute to both a QTP and a Coverdell ESA in the same year for the same designated beneficiary. How to refile taxes for 2012   Are Distributions Taxable The part of a distribution representing the amount paid or contributed to a QTP does not have to be included in income. How to refile taxes for 2012 This is a return of the investment in the plan. How to refile taxes for 2012 The designated beneficiary generally does not have to include in income any earnings distributed from a QTP if the total distribution is less than or equal to adjusted qualified education expenses (defined under Figuring the Taxable Portion of a Distribution , later). How to refile taxes for 2012 Earnings and return of investment. How to refile taxes for 2012    You will receive a Form 1099-Q, from each of the programs from which you received a QTP distribution in 2013. How to refile taxes for 2012 The amount of your gross distribution (box 1) shown on each form will be divided between your earnings (box 2) and your basis, or return of investment (box 3). How to refile taxes for 2012 Form 1099-Q should be sent to you by January 31, 2014. How to refile taxes for 2012 Figuring the Taxable Portion of a Distribution To determine if total distributions for the year are more or less than the amount of qualified education expenses, you must compare the total of all QTP distributions for the tax year to the adjusted qualified education expenses. How to refile taxes for 2012 Adjusted qualified education expenses. How to refile taxes for 2012   This amount is the total qualified education expenses reduced by any tax-free educational assistance. How to refile taxes for 2012 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), Veterans' educational assistance (see Veterans' Benefits 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 ), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. How to refile taxes for 2012 Taxable earnings. How to refile taxes for 2012   Use the following steps to figure the taxable part. How to refile taxes for 2012 Multiply the total distributed earnings shown in box 2 of Form 1099-Q by a fraction. How to refile taxes for 2012 The numerator is the adjusted qualified education expenses paid during the year and the denominator is the total amount distributed during the year. How to refile taxes for 2012 Subtract the amount figured in (1) from the total distributed earnings. How to refile taxes for 2012 The result is the amount the beneficiary must include in income. How to refile taxes for 2012 Report it on Form 1040 or Form 1040NR, line 21. How to refile taxes for 2012 Example 1. How to refile taxes for 2012 In 2007, Sara Clarke's parents opened a savings account for her with a QTP maintained by their state government. How to refile taxes for 2012 Over the years they contributed $18,000 to the account. How to refile taxes for 2012 The total balance in the account was $27,000 on the date the distribution was made. How to refile taxes for 2012 In the summer of 2013, Sara enrolled in college and had $8,300 of qualified education expenses for the rest of the year. How to refile taxes for 2012 She paid her college expenses from the following sources. How to refile taxes for 2012   Gift from parents $1,600     Partial tuition scholarship (tax-free) 3,100     QTP distribution 5,300           Before Sara can determine the taxable part of her QTP distribution, she must reduce her total qualified education expenses by any tax-free educational assistance. How to refile taxes for 2012   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Equals: Adjusted qualified  education expenses (AQEE) $5,200   Since the remaining expenses ($5,200) are less than the QTP distribution, part of the earnings will be taxable. How to refile taxes for 2012 Sara's Form 1099-Q shows that $950 of the QTP distribution is earnings. How to refile taxes for 2012 Sara figures the taxable part of the distributed earnings as follows. How to refile taxes for 2012   1. How to refile taxes for 2012 $950 (earnings) × $5,200 AQEE  $5,300 distribution           =$932 (tax-free earnings)     2. How to refile taxes for 2012 $950 (earnings)−$932 (tax-free earnings)     =$18 (taxable earnings)  Sara must include $18 in income (Form 1040, line 21) as distributed QTP earnings not used for adjusted qualified education expenses. How to refile taxes for 2012 Coordination With American Opportunity and Lifetime Learning Credits An American opportunity or lifetime learning credit (education credit) can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. How to refile taxes for 2012 This means that after the beneficiary reduces qualified education expenses by tax-free educational assistance, he or she must further reduce them by the expenses taken into account in determining the credit. How to refile taxes for 2012 Example 2. How to refile taxes for 2012 Assume the same facts as in Example 1 , except that Sara's parents claimed an American opportunity credit of $2,500 (based on $4,000 expenses). How to refile taxes for 2012   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Minus: Expenses taken into account  in figuring American opportunity credit −4,000     Equals: Adjusted qualified  education expenses (AQEE) $1,200           The taxable part of the distribution is figured as follows. How to refile taxes for 2012   1. How to refile taxes for 2012 $950 (earnings) × $1,200 AQEE  $5,300 distribution           =$215 (tax-free earnings)     2. How to refile taxes for 2012 $950 (earnings)−$215 (tax-free earnings)     =$735 (taxable earnings)       Sara must include $735 in income (Form 1040, line 21). How to refile taxes for 2012 This represents distributed earnings not used for adjusted qualified education expenses. How to refile taxes for 2012 Coordination With Coverdell ESA Distributions If a designated beneficiary receives distributions from both a QTP and a Coverdell ESA in the same year, and the total of these distributions is more than the beneficiary's adjusted qualified higher education expenses, the expenses must be allocated between the distributions. How to refile taxes for 2012 For purposes of this allocation, disregard any qualified elementary and secondary education expenses. How to refile taxes for 2012 Example 3. How to refile taxes for 2012 Assume the same facts as in Example 2 , except that instead of receiving a $5,300 distribution from her QTP, Sara received $4,600 from that account and $700 from her Coverdell ESA. How to refile taxes for 2012 In this case, Sara must allocate her $1,200 of adjusted qualified higher education expenses (AQHEE) between the two distributions. How to refile taxes for 2012   $1,200 AQHEE × $700 ESA distribution  $5,300 total distribution = $158 AQHEE (ESA)     $1,200 AQHEE × $4,600 QTP distribution  $5,300 total distribution = $1,042 AQHEE (QTP)   Sara then figures the taxable portion of her Coverdell ESA distribution based on qualified higher education expenses of $158, and the taxable portion of her QTP distribution based on the other $1,042. How to refile taxes for 2012 Note. How to refile taxes for 2012 If you are required to allocate your expenses between Coverdell ESA and QTP distributions, and you have adjusted qualified elementary and secondary education expenses, see the examples in chapter 7, Coverdell Education Savings Account under Coordination With Qualified Tuition Program (QTP) Distributions . How to refile taxes for 2012 Coordination With Tuition and Fees Deduction. How to refile taxes for 2012   A tuition and fees deduction can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. How to refile taxes for 2012 Losses on QTP Investments If you have a loss on your investment in a QTP account, you may be able to take the loss on your income tax return. How to refile taxes for 2012 You can take the loss only when all amounts from that account have been distributed and the total distributions are less than your unrecovered basis. How to refile taxes for 2012 Your basis is the total amount of contributions to that QTP account. How to refile taxes for 2012 You claim the loss as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23 (Schedule A (Form 1040NR), line 9), subject to the 2%-of-adjusted-gross-income limit. How to refile taxes for 2012 If you have distributions from more than one QTP account during a year, you must combine the information (amount of distribution, basis, etc. How to refile taxes for 2012 ) from all such accounts in order to determine your taxable earnings for the year. How to refile taxes for 2012 By doing this, the loss from one QTP account reduces the distributed earnings (if any) from any other QTP accounts. How to refile taxes for 2012 Example 1. How to refile taxes for 2012 In 2013, Taylor received a final distribution of $1,000 from QTP #1. How to refile taxes for 2012 His unrecovered basis in that account before the distribution was $3,000. How to refile taxes for 2012 If Taylor itemizes his deductions, he can claim the $2,000 loss on Schedule A (Form 1040). How to refile taxes for 2012 Example 2. How to refile taxes for 2012 Assume the same facts as in Example 1 , except that Taylor also had a distribution of $9,000 from QTP #2, giving him total distributions for 2013 of $10,000. How to refile taxes for 2012 His total basis in these distributions was $4,500 ($3,000 for QTP #1 and $1,500 for QTP #2). How to refile taxes for 2012 Taylor's adjusted qualified education expenses for 2013 totaled $6,000. How to refile taxes for 2012 In order to figure his taxable earnings, Taylor combines the two accounts and determines his taxable earnings as follows. How to refile taxes for 2012   1. How to refile taxes for 2012 $10,000 (total distribution)−$4,500 (basis portion of distribution)     = $5,500 (earnings included in distribution)   2. How to refile taxes for 2012 $5,500 (earnings) x $6,000 AQEE  $10,000 distribution           =$3,300 (tax-free earnings)     3. How to refile taxes for 2012 $5,500 (earnings)−$3,300 (tax-free earnings)     =$2,200 (taxable earnings)                 Taylor must include $2,200 in income on Form 1040, line 21. How to refile taxes for 2012 Because Taylor's accounts must be combined, he cannot deduct his $2,000 loss (QTP #1) on Schedule A (Form 1040). How to refile taxes for 2012 Instead, the $2,000 loss reduces the total earnings that were distributed, thereby reducing his taxable earnings. How to refile taxes for 2012 Additional Tax on Taxable Distributions Generally, if you receive a taxable distribution, you also must pay a 10% additional tax on the amount included in income. How to refile taxes for 2012 Exceptions. How to refile taxes for 2012   The 10% additional tax does not apply to distributions: Paid to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary. How to refile taxes for 2012 Made because the designated beneficiary is disabled. How to refile taxes for 2012 A person is considered to be disabled if he or she shows proof that he or she cannot do any substantial gainful activity because of his or her physical or mental condition. How to refile taxes for 2012 A physician must determine that his or her condition can be expected to result in death or to be of long-continued and indefinite duration. How to refile taxes for 2012 Included in income because the designated beneficiary received: A tax-free scholarship or fellowship (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), or Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. How to refile taxes for 2012 Made on account of the attendance of the designated beneficiary at a U. How to refile taxes for 2012 S. How to refile taxes for 2012 military academy (such as the USNA at Annapolis). How to refile taxes for 2012 This exception applies only to the extent that the amount of the distribution does not exceed the costs of advanced education (as defined in section 2005(d)(3) of title 10 of the U. How to refile taxes for 2012 S. How to refile taxes for 2012 Code) attributable to such attendance. How to refile taxes for 2012 Included in income only because the qualified education expenses were taken into account in determining the American opportunity or lifetime learning credit (see Coordination With American Opportunity and Lifetime Learning Credits , earlier. How to refile taxes for 2012 ) Exception (3) applies only to the extent the distribution is not more than the scholarship, allowance, or payment. How to refile taxes for 2012 Figuring the additional tax. How to refile taxes for 2012    Use Part II of Form 5329, to figure any additional tax. How to refile taxes for 2012 Report the amount on Form 1040, line 58, or Form 1040NR, line 56. How to refile taxes for 2012 Rollovers and Other Transfers Assets can be rolled over or transferred from one QTP to another. How to refile taxes for 2012 In addition, the designated beneficiary can be changed without transferring accounts. How to refile taxes for 2012 Rollovers Any amount distributed from a QTP is not taxable if it is rolled over to another QTP for the benefit of the same beneficiary or for the benefit of a member of the beneficiary's family (including the beneficiary's spouse). How to refile taxes for 2012 An amount is rolled over if it is paid to another QTP within 60 days after the date of the distribution. How to refile taxes for 2012 Do not report qualifying rollovers (those that meet the above criteria) anywhere on Form 1040 or 1040NR. How to refile taxes for 2012 These are not taxable distributions. How to refile taxes for 2012 Members of the beneficiary's family. How to refile taxes for 2012   For these purposes, the beneficiary's family includes the beneficiary's spouse and the following other relatives of the beneficiary. How to refile taxes for 2012 Son, daughter, stepchild, foster child, adopted child, or a descendant of any of them. How to refile taxes for 2012 Brother, sister, stepbrother, or stepsister. How to refile taxes for 2012 Father or mother or ancestor of either. How to refile taxes for 2012 Stepfather or stepmother. How to refile taxes for 2012 Son or daughter of a brother or sister. How to refile taxes for 2012 Brother or sister of father or mother. How to refile taxes for 2012 Son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law. How to refile taxes for 2012 The spouse of any individual listed above. How to refile taxes for 2012 First cousin. How to refile taxes for 2012 Example. How to refile taxes for 2012 When Aaron graduated from college last year he had $5,000 left in his QTP. How to refile taxes for 2012 He wanted to give this money to his younger brother, who was in junior high school. How to refile taxes for 2012 In order to avoid paying tax on the distribution of the amount remaining in his account, Aaron contributed the same amount to his brother's QTP within 60 days of the distribution. How to refile taxes for 2012 If the rollover is to another QTP for the same beneficiary, only one rollover is allowed within 12 months of a previous transfer to any QTP for that designated beneficiary. How to refile taxes for 2012 Changing the Designated Beneficiary There are no income tax consequences if the designated beneficiary of an account is changed to a member of the beneficiary's family. How to refile taxes for 2012 See Members of the beneficiary's family , earlier. How to refile taxes for 2012 Example. How to refile taxes for 2012 Assume the same situation as in the last example. How to refile taxes for 2012 Instead of closing his QTP and paying the distribution into his brother's QTP, Aaron could have instructed the trustee of his account to simply change the name of the beneficiary on his account to that of his brother. How to refile taxes for 2012 Prev  Up  Next   Home   More Online Publications