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Taxact2010 Publication 516 - Additional Material Prev Up Next Home More Online Publications
Research Your Options
- Learn what rights you have when buying a used car. Contact your state or local consumer protection office.
- Find out in advance what paperwork you will need to register a vehicle. Contact your state's motor vehicle department.
- Check prices of similar models using the NADA Official Used Car Guide published by the National Automobile Dealer Association or the Kelley Blue Book. These guides are usually available at local libraries.
- Research the vehicle's history. Ask the seller for details concerning past owners, use, and maintenance. Next, find out whether the car has been damaged in a flood, involved in a crash, been labeled a lemon or had its odometer rolled back. The vehicle identification number (VIN) will help you do this.
- Your state motor vehicle department can research the car's title history. Inspect the title for "salvage," "rebuilt", or similar notations.
The National Highway Traffic Safety Administration lists VINs of its crash-test vehicles and will let you search an online database of manufacturer service bulletins.
Vehiclehistory.gov and the National Insurance Crime Bureau’s free database are centralized places for consumers to buy information on the history of vehicles gathered from state motor vehicle departments and other sources. These reports are helpful but do not guarantee that a vehicle is accident-free.
- The Center for Auto Safety provides information on safety defects, recalls, and lemons, as well as service bulletins.
- Make sure any mileage disclosures match the odometer reading on the car.
- Check the warranty. If a manufacturer's warranty is still in effect, contact the manufacturer to make sure you can use the coverage.
- Ask about the dealer's return policy. Get it in writing and read it carefully.
- Have the car inspected by your mechanic. Talk to the seller and agree in advance that you'll pay for the examination if the car passes inspection, but the seller will pay if significant problems are discovered. A qualified mechanic should check the vehicle's frame, tires, air bags and undercarriage, as well as the engine.
- Examine dealer documents carefully. Make sure you are buying- not leasing- the vehicle. Leases use terms such as "balloon payment" and "base mileage" disclosures.
Taxact2010 33. Taxact2010 Credit for the Elderly or the Disabled Table of Contents Introduction Useful Items - You may want to see: Are You Eligible for the Credit?Qualified Individual Income Limits How to Claim the CreditCredit Figured for You Credit Figured by You Introduction If you qualify, you may be able to reduce the tax you owe by taking the credit for the elderly or the disabled which is figured on Schedule R (Form 1040A or 1040). Taxact2010 This chapter explains the following. Taxact2010 Who qualifies for the credit for the elderly or the disabled. Taxact2010 How to claim the credit. Taxact2010 You may be able to take the credit for the elderly or the disabled if: You are age 65 or older at the end of 2013, or You retired on permanent and total disability and have taxable disability income. Taxact2010 Useful Items - You may want to see: Publication 524 Credit for the Elderly or the Disabled 554 Tax Guide for Seniors Form (and Instruction) Schedule R (Form 1040A or 1040) Credit for the Elderly or the Disabled Are You Eligible for the Credit? You can take the credit for the elderly or the disabled if you meet both of the following requirements. Taxact2010 You are a qualified individual. Taxact2010 Your income is not more than certain limits. Taxact2010 You can use Figure 33-A and Table 33-1 as guides to see if you are eligible for the credit. Taxact2010 Use Figure 33-A first to see if you are a qualified individual. Taxact2010 If you are, go to Table 33-1 to make sure your income is not too high to take the credit. Taxact2010 You can take the credit only if you file Form 1040 or Form 1040A. Taxact2010 You cannot take the credit if you file Form 1040EZ. Taxact2010 Qualified Individual You are a qualified individual for this credit if you are a U. Taxact2010 S. Taxact2010 citizen or resident alien, and either of the following applies. Taxact2010 You were age 65 or older at the end of 2013. Taxact2010 You were under age 65 at the end of 2013 and all three of the following statements are true. Taxact2010 You retired on permanent and total disability (explained later). Taxact2010 You received taxable disability income for 2013. Taxact2010 On January 1, 2013, you had not reached mandatory retirement age (defined later under Disability income ). Taxact2010 Age 65. Taxact2010 You are considered to be age 65 on the day before your 65th birthday. Taxact2010 Therefore, if you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. Taxact2010 U. Taxact2010 S. Taxact2010 Citizen or Resident Alien You must be a U. Taxact2010 S. Taxact2010 citizen or resident alien (or be treated as a resident alien) to take the credit. Taxact2010 Generally, you cannot take the credit if you were a nonresident alien at any time during the tax year. Taxact2010 Exceptions. Taxact2010 You may be able to take the credit if you are a nonresident alien who is married to a U. Taxact2010 S. Taxact2010 citizen or resident alien at the end of the tax year and you and your spouse choose to treat you as a U. Taxact2010 S. Taxact2010 resident alien. Taxact2010 If you make that choice, both you and your spouse are taxed on your worldwide incomes. Taxact2010 If you were a nonresident alien at the beginning of the year and a resident alien at the end of the year, and you were married to a U. Taxact2010 S. Taxact2010 citizen or resident alien at the end of the year, you may be able to choose to be treated as a U. Taxact2010 S. Taxact2010 resident alien for the entire year. Taxact2010 In that case, you may be allowed to take the credit. Taxact2010 For information on these choices, see chapter 1 of Publication 519, U. Taxact2010 S. Taxact2010 Tax Guide for Aliens. Taxact2010 Married Persons Generally, if you are married at the end of the tax year, you and your spouse must file a joint return to take the credit. Taxact2010 However, if you and your spouse did not live in the same household at any time during the tax year, you can file either a joint return or separate returns and still take the credit. Taxact2010 Head of household. Taxact2010 You can file as head of household and qualify to take the credit, even if your spouse lived with you during the first 6 months of the year, if you meet certain tests. Taxact2010 See Head of Household in chapter 2 for the tests you must meet. Taxact2010 Under Age 65 If you are under age 65 at the end of 2013, you can qualify for the credit only if you are retired on permanent and total disability (discussed next) and have taxable disability income (discussed later under Disability income ). Taxact2010 You are retired on permanent and total disability if: You were permanently and totally disabled when you retired, and You retired on disability before the close of the tax year. Taxact2010 Even if you do not retire formally, you may be considered retired on disability when you have stopped working because of your disability. Taxact2010 If you retired on disability before 1977, and were not permanently and totally disabled at the time, you can qualify for the credit if you were permanently and totally disabled on January 1, 1976, or January 1, 1977. Taxact2010 Permanent and total disability. Taxact2010 You are permanently and totally disabled if you cannot engage in any substantial gainful activity because of your physical or mental condition. Taxact2010 A qualified physician must certify that the condition has lasted or can be expected to last continuously for 12 months or more, or that the condition can be expected to result in death. Taxact2010 See Physician's statement , later. Taxact2010 Substantial gainful activity. Taxact2010 Substantial gainful activity is the performance of significant duties over a reasonable period of time while working for pay or profit, or in work generally done for pay or profit. Taxact2010 Full-time work (or part-time work done at your employer's convenience) in a competitive work situation for at least the minimum wage conclusively shows that you are able to engage in substantial gainful activity. Taxact2010 Substantial gainful activity is not work you do to take care of yourself or your home. Taxact2010 It is not unpaid work on hobbies, institutional therapy or training, school attendance, clubs, social programs, and similar activities. Taxact2010 However, doing this kind of work may show that you are able to engage in substantial gainful activity. Taxact2010 The fact that you have not worked for some time is not, of itself, conclusive evidence that you cannot engage in substantial gainful activity. Taxact2010 Sheltered employment. Taxact2010 Certain work offered at qualified locations to physically or mentally impaired persons is considered sheltered employment. Taxact2010 These qualified locations are in sheltered workshops, hospitals, and similar institutions, homebound programs, and Department of Veterans Affairs (VA) sponsored homes. Taxact2010 Compared to commercial employment, pay is lower for sheltered employment. Taxact2010 Therefore, one usually does not look for sheltered employment if he or she can get other employment. Taxact2010 The fact that one has accepted sheltered employment is not proof of the person's ability to engage in substantial gainful activity. Taxact2010 Physician's statement. Taxact2010 If you are under age 65, you must have your physician complete a statement certifying that you were permanently and totally disabled on the date you retired. Taxact2010 You can use the statement in the Instructions for Schedule R. Taxact2010 Figure 33-A. Taxact2010 Are You a Qualified Individual? This image is too large to be displayed in the current screen. Taxact2010 Please click the link to view the image. Taxact2010 Figure 33-A Are You a Qualified Individual? You do not have to file this statement with your Form 1040 or Form 1040A, but you must keep it for your records. Taxact2010 Veterans. Taxact2010 If the Department of Veterans Affairs (VA) certifies that you are permanently and totally disabled, you can substitute VA Form 21-0172, Certification of Permanent and Total Disability, for the physician's statement you are required to keep. Taxact2010 VA Form 21-0172 must be signed by a person authorized by the VA to do so. Taxact2010 You can get this form from your local VA regional office. Taxact2010 Physician's statement obtained in earlier year. Taxact2010 If you got a physician's statement in an earlier year and, due to your continued disabled condition, you were unable to engage in any substantial gainful activity during 2013, you may not need to get another physician's statement for 2013. Taxact2010 For a detailed explanation of the conditions you must meet, see the instructions for Schedule R, Part II. Taxact2010 If you meet the required conditions, check the box on your Schedule R, Part II, line 2. Taxact2010 If you checked box 4, 5, or 6 in Part I of Schedule R, enter in the space above the box on line 2 in Part II the first name(s) of the spouse(s) for whom the box is checked. Taxact2010 Table 33-1. Taxact2010 Income Limits IF your filing status is . Taxact2010 . Taxact2010 . Taxact2010 THEN, even if you qualify (see Figure 33-A ), you CANNOT take the credit if. Taxact2010 . Taxact2010 . Taxact2010 Your adjusted gross income (AGI)* is equal to or more than. Taxact2010 . Taxact2010 . Taxact2010 OR the total of your nontaxable social security and other nontaxable pension(s), annuities, or disability income is equal to or more than. Taxact2010 . Taxact2010 . Taxact2010 single, head of household, or qualifying widow(er) with dependent child $17,500 $5,000 married filing jointly and only one spouse qualifies in Figure 33-A $20,000 $5,000 married filing jointly and both spouses qualify in Figure 33-A $25,000 $7,500 married filing separately and you lived apart from your spouse for all of 2013 $12,500 $3,750 * AGI is the amount on Form 1040A, line 22, or Form 1040, line 38. Taxact2010 Disability income. Taxact2010 If you are under age 65, you must also have taxable disability income to qualify for the credit. Taxact2010 Disability income must meet both of the following requirements. Taxact2010 It must be paid under your employer's accident or health plan or pension plan. Taxact2010 It must be included in your income as wages (or payments instead of wages) for the time you are absent from work because of permanent and total disability. Taxact2010 Payments that are not disability income. Taxact2010 Any payment you receive from a plan that does not provide for disability retirement is not disability income. Taxact2010 Any lump-sum payment for accrued annual leave that you receive when you retire on disability is a salary payment and is not disability income. Taxact2010 For purposes of the credit for the elderly or the disabled, disability income does not include amounts you receive after you reach mandatory retirement age. Taxact2010 Mandatory retirement age is the age set by your employer at which you would have had to retire, had you not become disabled. Taxact2010 Income Limits To determine if you can claim the credit, you must consider two income limits. Taxact2010 The first limit is the amount of your adjusted gross income (AGI). Taxact2010 The second limit is the amount of nontaxable social security and other nontaxable pensions, annuities, or disability income you received. Taxact2010 The limits are shown in Table 33-1. Taxact2010 If your AGI and nontaxable pensions, annuities, or disability income are less than the income limits, you may be able to claim the credit. Taxact2010 See How to Claim the Credit , later. Taxact2010 If either your AGI or your nontaxable pensions, annuities, or disability income are equal to or more than the income limits, you cannot take the credit. Taxact2010 How to Claim the Credit You can figure the credit yourself or the Internal Revenue Service will figure it for you. Taxact2010 Credit Figured for You If you choose to have the IRS figure the credit for you, read the following discussion for the form you will file (Form 1040 or 1040A). Taxact2010 If you want the IRS to figure your tax, see chapter 30. Taxact2010 Form 1040. Taxact2010 If you want the IRS to figure your credit, see Form 1040 Line Entries under Tax Figured by IRS in chapter 30. Taxact2010 Form 1040A. Taxact2010 If you want the IRS to figure your credit, see Form 1040A Line Entries under Tax Figured by IRS in chapter 30. Taxact2010 Credit Figured by You If you choose to figure the credit yourself, fill out the front of Schedule R. Taxact2010 Next, fill out Schedule R, Part III. Taxact2010 If you file Form 1040A, enter the amount from Schedule R, line 22, on Form 1040A, line 30. Taxact2010 If you file Form 1040, include the amount from Schedule R, line 22, on line 53; check box c, and enter “Sch R” on the line next to that box. Taxact2010 For a step-by-step discussion about filling out Part III of Schedule R, see Figuring the Credit Yourself in Publication 524. Taxact2010 Limit on credit. Taxact2010 The amount of the credit you can claim is generally limited to the amount of your tax. Taxact2010 Use the Credit Limit Worksheet in the Instructions for Schedule R to determine if your credit is limited. Taxact2010 Prev Up Next Home More Online Publications