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Where Do I Send My 2012 Federal Income Tax Return

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Where Do I Send My 2012 Federal Income Tax Return

Where do i send my 2012 federal income tax return 35. Where do i send my 2012 federal income tax return   Education Credits Table of Contents Introduction Useful Items - You may want to see: Who Can Claim an Education Credit Qualified Education ExpensesNo Double Benefit Allowed Adjustments to Qualified Education Expenses Introduction For 2013, there are two tax credits available to persons who pay expenses for higher (postsecondary) education. Where do i send my 2012 federal income tax return They are: The American opportunity credit, and The lifetime learning credit. Where do i send my 2012 federal income tax return The chapter will present an overview of these education credits. Where do i send my 2012 federal income tax return To get the detailed information you will need to claim either of the credits, and for examples illustrating that information, see chapters 2 and 3 of Publication 970. Where do i send my 2012 federal income tax return Can you claim more than one education credit this year?   For each student, you can choose for any year only one of the credits. Where do i send my 2012 federal income tax return For example, if you choose to take the American opportunity credit for a child on your 2013 tax return, you cannot, for that same child, also claim the lifetime learning credit for 2013. Where do i send my 2012 federal income tax return   If you are eligible to claim the American opportunity credit and you are also eligible to claim the lifetime learning credit for the same student in the same year, you can choose to claim either credit, but not both. Where do i send my 2012 federal income tax return   If you pay qualified education expenses for more than one student in the same year, you can choose to take the American opportunity and the lifetime learning credits on a per-student, per-year basis. Where do i send my 2012 federal income tax return This means that, for example, you can claim the American opportunity credit for one student and the lifetime learning credit for another student in the same year. Where do i send my 2012 federal income tax return Table 35-1. Where do i send my 2012 federal income tax return Comparison of Education Credits Caution. Where do i send my 2012 federal income tax return You can claim both the American opportunity credit and the lifetime learning credit on the same return—but not for the same student. Where do i send my 2012 federal income tax return   American Opportunity Credit Lifetime Learning Credit Maximum credit Up to $2,500 credit per eligible student Up to $2,000 credit per return Limit on modified adjusted gross income (MAGI) $180,000 if married filing jointly;  $90,000 if single, head of household, or qualifying widow(er) $127,000 if married filing jointly;  $63,000 if single, head of household, or qualifying widow(er) Refundable or nonrefundable 40% of credit may be refundable Credit limited to the amount of tax you must pay on your taxable income Number of years of postsecondary education Available ONLY if the student had not completed the first 4 years of postsecondary education before 2013 Available for all years of postsecondary education and for courses to acquire or improve job skills Number of tax years credit available Available ONLY for 4 tax years per eligible student (including any year(s) the Hope credit was claimed) Available for an unlimited number of years Type of program required Student must be pursuing a program leading to a degree or other recognized education credential Student does not need to be pursuing a program leading to a degree or other recognized education credential Number of courses Student must be enrolled at least half time for at least one academic period beginning during the tax year Available for one or more courses Felony drug conviction At the end of 2013, the student had not been convicted of a felony for possessing or distributing a controlled substance Felony drug convictions do not make the student ineligible Qualified expenses Tuition, required enrollment fees, and course materials that the student needs for a course of study whether or not the materials are bought at the educational institution as a condition of enrollment or attendance Tuition and fees required for enrollment or attendance (including amounts required to be paid to the institution for course-related books, supplies, and equipment) Payments for academic periods Payments made in 2013 for academic periods beginning in 2013 or beginning in the first 3 months of 2014 Differences between the American opportunity and lifetime learning credits. Where do i send my 2012 federal income tax return   There are several differences between these two credits. Where do i send my 2012 federal income tax return These differences are summarized in Table 35-1, later. Where do i send my 2012 federal income tax return Useful Items - You may want to see: Publication 970 Tax Benefits for Education Form (and Instructions) 8863 Education Credits (American Opportunity and Lifetime Learning Credits) Who Can Claim an Education Credit You may be able to claim an education credit if you, your spouse, or a dependent you claim on your tax return was a student enrolled at or attending an eligible educational institution. Where do i send my 2012 federal income tax return The credits are based on the amount of qualified education expenses paid for the student in 2013 for academic periods beginning in 2013 and in the first 3 months of 2014. Where do i send my 2012 federal income tax return For example, if you paid $1,500 in December 2013 for qualified tuition for the spring 2014 semester beginning in January 2014, you may be able to use that $1,500 in figuring your 2013 education credit(s). Where do i send my 2012 federal income tax return Academic period. Where do i send my 2012 federal income tax return   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Where do i send my 2012 federal income tax return In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Where do i send my 2012 federal income tax return Eligible educational institution. Where do i send my 2012 federal income tax return   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Where do i send my 2012 federal income tax return S. Where do i send my 2012 federal income tax return Department of Education. Where do i send my 2012 federal income tax return It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Where do i send my 2012 federal income tax return The educational institution should be able to tell you if it is an eligible educational institution. Where do i send my 2012 federal income tax return   Certain educational institutions located outside the United States also participate in the U. Where do i send my 2012 federal income tax return S. Where do i send my 2012 federal income tax return Department of Education's Federal Student Aid (FSA) programs. Where do i send my 2012 federal income tax return Who can claim a dependent's expenses. Where do i send my 2012 federal income tax return   If an exemption is allowed as a deduction for any person who claims the student as a dependent, all qualified education expenses of the student are treated as having been paid by that person. Where do i send my 2012 federal income tax return Therefore, only that person can claim an education credit for the student. Where do i send my 2012 federal income tax return If a student is not claimed as a dependent on another person's tax return, only the student can claim a credit. Where do i send my 2012 federal income tax return Expenses paid by a third party. Where do i send my 2012 federal income tax return   Qualified education expenses paid on behalf of the student by someone other than the student (such as a relative) are treated as paid by the student. Where do i send my 2012 federal income tax return However, qualified education expenses paid (or treated as paid) by a student who is claimed as a dependent on your tax return are treated as paid by you. Where do i send my 2012 federal income tax return Therefore, you are treated as having paid expenses that were paid by the third party. Where do i send my 2012 federal income tax return For more information and an example see Who Can Claim a Dependent's Expenses in Pub. Where do i send my 2012 federal income tax return 970, chapter 2 or 3. Where do i send my 2012 federal income tax return Who cannot claim a credit. Where do i send my 2012 federal income tax return   You cannot take an education credit if any of the following apply. Where do i send my 2012 federal income tax return You are claimed as a dependent on another person's tax return, such as your parent's return. Where do i send my 2012 federal income tax return Your filing status is married filing separately. Where do i send my 2012 federal income tax return You (or your spouse) were a nonresident alien for any part of 2013 and did not elect to be treated as a resident alien for tax purposes. Where do i send my 2012 federal income tax return Your MAGI is one of the following. Where do i send my 2012 federal income tax return American opportunity credit: $180,000 or more if married filing jointly, or $90,000 or more if single, head of household, or qualifying widow(er). Where do i send my 2012 federal income tax return Lifetime learning credit: $127,000 or more if married filing jointly, or $63,000 or more if single, head of household, or qualifying widow(er) . Where do i send my 2012 federal income tax return   Generally, your MAGI is the amount on your Form 1040, line 38, or Form 1040A, line 22. Where do i send my 2012 federal income tax return However, if you are filing Form 2555, Form 2555–EZ, or Form 4563, or are excluding income from Puerto RIco, add to the amount on your Form 1040, line 38, or Form 1040A, line 22, the amount of income you excluded. Where do i send my 2012 federal income tax return For details, see Pub. Where do i send my 2012 federal income tax return 970. Where do i send my 2012 federal income tax return    Figure 35-A may be helpful in determining if you can claim an education credit on your tax return. Where do i send my 2012 federal income tax return The American opportunity credit will always be greater than or equal to the lifetime learning credit for any student who is eligible for both credits. Where do i send my 2012 federal income tax return However, if any of the conditions for the American opportunity credit, listed in Table 35-1 earlier, are not met for any student, you cannot take the American opportunity credit for that student. Where do i send my 2012 federal income tax return You may be able to take the lifetime learning credit for part or all of that student's qualified education expenses instead. Where do i send my 2012 federal income tax return See Pub. Where do i send my 2012 federal income tax return 970 for information on other education benefits. Where do i send my 2012 federal income tax return Qualified Education Expenses Generally, qualified education expenses are amounts paid in 2013 for tuition and fees required for the student's enrollment or attendance at an eligible educational institution. Where do i send my 2012 federal income tax return It does not matter whether the expenses were paid in cash, by check, by credit or debit card, or with borrowed funds. Where do i send my 2012 federal income tax return For course-related books, supplies, and equipment, only certain expenses qualify. Where do i send my 2012 federal income tax return American opportunity credit: Qualified education expenses include amounts spent on books, supplies, and equipment needed for a course of study, whether or not the materials are purchased from the educational institution as a condition of enrollment or attendance. Where do i send my 2012 federal income tax return Lifetime learning credit: Qualified education expenses include amounts for books, supplies, and equipment only if required to be paid to the institution as a condition of enrollment or attendance. Where do i send my 2012 federal income tax return Qualified education expenses include nonacademic fees, such as student activity fees, athletic fees, or other expenses unrelated to the academic course of instruction, only if the fee must be paid to the institution as a condition of enrollment or attendance. Where do i send my 2012 federal income tax return However, fees for personal expenses (described below) are never qualified education expenses. Where do i send my 2012 federal income tax return Qualified education expenses for either credit do not include amounts paid for: Personal expenses. Where do i send my 2012 federal income tax return This means room and board, insurance, medical expenses (including student health fees), transportation, and other similar personal, living, or family expenses. Where do i send my 2012 federal income tax return Any course or other education involving sports, games, or hobbies, or any noncredit course, unless such course or other education is part of the student's degree program or (for the lifetime learning credit only) helps the student acquire or improve job skills. Where do i send my 2012 federal income tax return You should receive Form 1098–T, Tuition Statement, from the institution reporting either payments received in 2013 (box 1) or amounts billed in 2013 (box 2). Where do i send my 2012 federal income tax return However, the amount in box 1 or 2 of Form 1098–T may be different from the amount you paid (or are treated as having paid). Where do i send my 2012 federal income tax return In completing Form 8863, use only the amounts you actually paid (plus any amounts you are treated as having paid) in 2013, reduced as necessary, as described in Adjustments to Qualified Education Expenses , later. Where do i send my 2012 federal income tax return Qualified education expenses paid on behalf of the student by someone other than the student (such as a relative) are treated as paid by the student. Where do i send my 2012 federal income tax return Qualified education expenses paid (or treated as paid) by a student who is claimed as a dependent on your tax return are treated as paid by you. Where do i send my 2012 federal income tax return If you or the student takes a deduction for higher education expenses, such as on Schedule A or C (Form 1040), you cannot use those expenses in your qualified education expenses when figuring your education credits. Where do i send my 2012 federal income tax return Qualified education expenses for any academic period must be reduced by any tax-free educational assistance allocable to that academic period. Where do i send my 2012 federal income tax return See Adjustments to Qualified Education Expenses, later. Where do i send my 2012 federal income tax return Prepaid Expenses. Where do i send my 2012 federal income tax return   Qualified education expenses paid in 2013 for an academic period that begins in the first 3 months of 2014 can be used in figuring an education credit for 2013 only. Where do i send my 2012 federal income tax return See Academic period , earlier. Where do i send my 2012 federal income tax return For example, if you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring an education credit for 2013 only (if you meet all the other requirements). Where do i send my 2012 federal income tax return    You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 education credit(s). Where do i send my 2012 federal income tax return Paid with borrowed funds. Where do i send my 2012 federal income tax return   You can claim an education credit for qualified education expenses paid with the proceeds of a loan. Where do i send my 2012 federal income tax return Use the expenses to figure the credit for the year in which the expenses are paid, not the year in which the loan is repaid. Where do i send my 2012 federal income tax return Treat loan payments sent directly to the educational institution as paid on the date the institution credits the student's account. Where do i send my 2012 federal income tax return Student withdraws from class(es). Where do i send my 2012 federal income tax return   You can claim an education credit for qualified education expenses not refunded when a student withdraws. Where do i send my 2012 federal income tax return No Double Benefit Allowed You cannot do any of the following. Where do i send my 2012 federal income tax return Deduct higher education expenses on your income tax return (as, for example, a business expense) and also claim an education credit based on those same expenses. Where do i send my 2012 federal income tax return Claim more than one education credit based on the same qualified education expenses. Where do i send my 2012 federal income tax return Claim an education credit based on the same expenses used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or qualified tuition program (QTP). Where do i send my 2012 federal income tax return Claim an education credit based on qualified education expenses paid with educational assistance, such as a tax-free scholarship, grant, or employer-provided educational assistance. Where do i send my 2012 federal income tax return See Adjustments to Qualified Education Expenses, next. Where do i send my 2012 federal income tax return Adjustments to Qualified Education Expenses For each student, reduce the qualified education expenses paid in 2013 by or on behalf of that student under the following rules. Where do i send my 2012 federal income tax return The result is the amount of adjusted qualified education expenses for each student. Where do i send my 2012 federal income tax return Tax-free educational assistance. Where do i send my 2012 federal income tax return   For tax-free educational assistance received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance allocable to that academic period. Where do i send my 2012 federal income tax return See Academic period , earlier. Where do i send my 2012 federal income tax return      Tax-free educational assistance includes:    Tax-free parts of scholarships and fellowships (see chapter 12 of this publication and chapter 1 of Pub. Where do i send my 2012 federal income tax return 970), The tax-free part of Pell grants (see chapter 1 of Pub. Where do i send my 2012 federal income tax return 970), The tax-free part of employer-provided educational assistance (see Pub. Where do i send my 2012 federal income tax return 970), Veterans' educational assistance (see chapter 1 of Pub. Where do i send my 2012 federal income tax return 970), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Where do i send my 2012 federal income tax return Generally, any scholarship or fellowship is treated as tax-free educational assistance. Where do i send my 2012 federal income tax return However, a scholarship or fellowship is not treated as tax-free educational assistance to the extent the student includes it in gross income (if the student is required to file a tax return) for the year the scholarship or fellowship is received and either: The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. Where do i send my 2012 federal income tax return 970, chapter 1; or The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. Where do i send my 2012 federal income tax return 970, chapter 1. Where do i send my 2012 federal income tax return You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year received. Where do i send my 2012 federal income tax return For details, see Adjustments of Qualified Education Expenses, in chapters 2 and 3 of Pub. Where do i send my 2012 federal income tax return 970. Where do i send my 2012 federal income tax return Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. Where do i send my 2012 federal income tax return This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). Where do i send my 2012 federal income tax return If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed, later. Where do i send my 2012 federal income tax return If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed, later. Where do i send my 2012 federal income tax return Refunds. Where do i send my 2012 federal income tax return   A refund of qualified education expenses may reduce qualified education expenses for the tax year or may require you to repay (recapture) the credit that you claimed in an earlier year. Where do i send my 2012 federal income tax return Some tax-free educational assistance received after 2013 may be treated as a refund. Where do i send my 2012 federal income tax return See Tax-free educational assistance, earlier. Where do i send my 2012 federal income tax return Refunds received in 2013. Where do i send my 2012 federal income tax return   For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses paid in 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. Where do i send my 2012 federal income tax return Refunds received after 2013 but before your income tax return is filed. Where do i send my 2012 federal income tax return   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is received before you file your 2013 income tax return, reduce the amount of qualified education expenses for 2013 by the amount of the refund. Where do i send my 2012 federal income tax return Refunds received after 2013 and after your income tax return is filed. Where do i send my 2012 federal income tax return   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is received after you file your 2013 income tax return, you may need to repay some or all of the credit that you claimed. Where do i send my 2012 federal income tax return See Credit recapture, next. Where do i send my 2012 federal income tax return Credit recapture. Where do i send my 2012 federal income tax return    If any tax-free educational assistance for the qualified education expenses paid in 2013, or any refund of your qualified education expenses paid in 2013, is received after you file your 2013 income tax return, you must recapture (repay) any excess credit. Where do i send my 2012 federal income tax return You do this by refiguring the amount of your adjusted qualified education expenses for 2013 by reducing the expenses by the amount of the refund or tax-free educational assistance. Where do i send my 2012 federal income tax return You then refigure your education credit(s) for 2013 and figure the amount by which your 2013 tax liability would have increased if you had claimed the refigured credit(s). Where do i send my 2012 federal income tax return Include that amount as an additional tax for the year the refund or tax-free assistance was received. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return    You paid $8,000 tuition and fees in December 2013 for your child's Spring semester beginning in January 2014. Where do i send my 2012 federal income tax return You filed your 2013 tax return on February 3, 2014, and claimed a lifetime learning credit of $1,600 ($8,000 qualified education expense paid x . Where do i send my 2012 federal income tax return 20). Where do i send my 2012 federal income tax return You claimed no other tax credits. Where do i send my 2012 federal income tax return After you filed your return, your child withdrew from two courses and you received a refund of $1,400. Where do i send my 2012 federal income tax return You must refigure your 2013 lifetime learning credit using $6,600 ($8,000 qualified education expenses − $1,400 refund). Where do i send my 2012 federal income tax return The refigured credit is $1,320 and your tax liability increased by $280. Where do i send my 2012 federal income tax return You must include the difference of $280 ($1,600 credit originally claimed − $1,320 refigured credit) as additional tax on your 2014 income tax return. Where do i send my 2012 federal income tax return See the instructions for your 2014 income tax return to determine where to include this tax. Where do i send my 2012 federal income tax return If you also pay qualified education expenses in 2014 for an academic period that begins in the first 3 months of 2014 and you receive tax-free educational assistance, or a refund, as described above, you may choose to reduce your qualified education expenses for 2014 instead of reducing your expenses for 2013. Where do i send my 2012 federal income tax return Amounts that do not reduce qualified education expenses. Where do i send my 2012 federal income tax return   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. Where do i send my 2012 federal income tax return   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. Where do i send my 2012 federal income tax return The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses, as defined in Chapter 1 of Pub. Where do i send my 2012 federal income tax return 970. Where do i send my 2012 federal income tax return The use of the money is not restricted. Where do i send my 2012 federal income tax return   For examples, see chapter 2 in Pub. Where do i send my 2012 federal income tax return 970. Where do i send my 2012 federal income tax return Figure 35-A. Where do i send my 2012 federal income tax return Can You Claim an Education Credit for 2013? This image is too large to be displayed in the current screen. Where do i send my 2012 federal income tax return Please click the link to view the image. Where do i send my 2012 federal income tax return Figure 35-A. Where do i send my 2012 federal income tax return Can You Claim an Education Credit for 2013? Prev  Up  Next   Home   More Online Publications
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The Where Do I Send My 2012 Federal Income Tax Return

Where do i send my 2012 federal income tax return 4. Where do i send my 2012 federal income tax return   Limit on Elective Deferrals Table of Contents Excess elective deferrals. Where do i send my 2012 federal income tax return General Limit 15-Year RuleYears of Service Figuring the Limit on Elective DeferralsExample The second and final component of MAC is the limit on elective deferrals. Where do i send my 2012 federal income tax return This is a limit on the amount of contributions that can be made to your account through a salary reduction agreement. Where do i send my 2012 federal income tax return A salary reduction agreement is an agreement between you and your employer that allows for a portion of your compensation to be directly invested in a 403(b) account on your behalf. Where do i send my 2012 federal income tax return You can enter into more than one salary reduction agreement during a year. Where do i send my 2012 federal income tax return More than one 403(b) account. Where do i send my 2012 federal income tax return If, for any year, elective deferrals are contributed to more than one 403(b) account for you (whether or not with the same employer), you must combine all the elective deferrals to determine whether the total is more than the limit for that year. Where do i send my 2012 federal income tax return 403(b) plan and another retirement plan. Where do i send my 2012 federal income tax return If, during the year, contributions in the form of elective deferrals are made to other retirement plans on your behalf, you must combine all of the elective deferrals to determine if they are more than your limit on elective deferrals. Where do i send my 2012 federal income tax return The limit on elective deferrals applies to amounts contributed to: 401(k) plans, to the extent excluded from income, Roth contribution programs, Section 501(c)(18) plans, to the extent excluded from income, Savings incentive match plan for employees (SIMPLE plans), Simplified employee pension (SEP) plans, and All 403(b) plans. Where do i send my 2012 federal income tax return Roth contribution program. Where do i send my 2012 federal income tax return   Your 403(b) plan may allow you to designate all or a portion of your elective deferrals as Roth contributions. Where do i send my 2012 federal income tax return Elective deferrals designated as Roth contributions must be maintained in a separate Roth account and are not excludable from your gross income. Where do i send my 2012 federal income tax return   The maximum amount of contributions allowed under a Roth contribution program is your limit on elective deferrals, less your elective deferrals not designated as Roth contributions. Where do i send my 2012 federal income tax return For more information on the Roth contribution program, see Publication 560, Retirement Plans for Small Business. Where do i send my 2012 federal income tax return Excess elective deferrals. Where do i send my 2012 federal income tax return   If the amount contributed is more than the allowable limit, you must include the excess that is not a Roth contribution in your gross income for the year contributed. Where do i send my 2012 federal income tax return General Limit Under the general limit on elective deferrals, the most that can be contributed to your 403(b) account through a salary reduction agreement is $17,500 for 2013 and 2014. Where do i send my 2012 federal income tax return This limit applies without regard to community property laws. Where do i send my 2012 federal income tax return 15-Year Rule If you have at least 15 years of service with an educational organization (such as a public or private school), hospital, home health service agency, health and welfare service agency, church, or convention or association of churches (or associated organization), the limit on elective deferrals to your 403(b) account is increased by the least of: $3,000, $15,000, reduced by the sum of: The additional pre-tax elective deferrals made in prior years because of this rule, plus The aggregate amount of designated Roth contributions permitted for prior years because of this rule, or $5,000 times the number of your years of service for the organization, minus the total elective deferrals made by your employer on your behalf for earlier years. Where do i send my 2012 federal income tax return If you qualify for the 15-year rule, your elective deferrals under this limit can be as high as $20,500 for 2013 and 2014. Where do i send my 2012 federal income tax return To determine whether you have 15 years of service with your employer, see Years of Service , next. Where do i send my 2012 federal income tax return Years of Service To determine if you are eligible for the increased limit on elective deferrals, you will first need to figure your years of service. Where do i send my 2012 federal income tax return How you figure your years of service depends on whether you were a full-time or a part-time employee, whether you worked for the full year or only part of the year, and whether you have worked for your employer for an entire year. Where do i send my 2012 federal income tax return You must figure years of service for each year during which you worked for the employer who is maintaining your 403(b) account. Where do i send my 2012 federal income tax return If more than one employer maintains a 403(b) account for you in the same year, you must figure years of service separately for each employer. Where do i send my 2012 federal income tax return Definition Your years of service are the total number of years you have worked as a full time employee for the employer maintaining your 403(b) account as of the end of the year. Where do i send my 2012 federal income tax return Figuring Your Years of Service Take the following rules into account when figuring your years of service. Where do i send my 2012 federal income tax return Status of employer. Where do i send my 2012 federal income tax return   Your years of service include only periods during which your employer was a qualified employer. Where do i send my 2012 federal income tax return Your plan administrator can tell you whether or not your employer was qualified during all your periods of service. Where do i send my 2012 federal income tax return Service with one employer. Where do i send my 2012 federal income tax return   Generally, you cannot count service for any employer other than the one who maintains your 403(b) account. Where do i send my 2012 federal income tax return Church employee. Where do i send my 2012 federal income tax return   If you are a church employee, treat all of your years of service with related church organizations as years of service with the same employer. Where do i send my 2012 federal income tax return For more information about church employees, see chapter 5. Where do i send my 2012 federal income tax return Self-employed ministers. Where do i send my 2012 federal income tax return   If you are a self-employed minister, your years of service include full and part years in which you have been treated as employed by a tax-exempt organization that is a qualified employer. Where do i send my 2012 federal income tax return Total years of service. Where do i send my 2012 federal income tax return   When figuring prior years of service, figure each year individually and then add the individual years of service to determine your total years of service. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return The annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. Where do i send my 2012 federal income tax return Marsha began working with ABC schools in September 2009. Where do i send my 2012 federal income tax return She has always worked full-time for each annual work period. Where do i send my 2012 federal income tax return At the end of 2013, Marsha had 4. Where do i send my 2012 federal income tax return 5 years of service with ABC Public Schools, as shown in Table 4-1. Where do i send my 2012 federal income tax return Table 4-1. Where do i send my 2012 federal income tax return Marsha's Years of Service Note. Where do i send my 2012 federal income tax return This table shows how Marsha figures her years of service, as explained in the previous example. Where do i send my 2012 federal income tax return Year Period Worked Portion of Work Period Years of Service 2009 Sept. Where do i send my 2012 federal income tax return –Dec. Where do i send my 2012 federal income tax return . Where do i send my 2012 federal income tax return 5 year . Where do i send my 2012 federal income tax return 5 year 2010 Feb. Where do i send my 2012 federal income tax return –May . Where do i send my 2012 federal income tax return 5 year 1 year Sept. Where do i send my 2012 federal income tax return –Dec. Where do i send my 2012 federal income tax return . Where do i send my 2012 federal income tax return 5 year 2011 Feb. Where do i send my 2012 federal income tax return –May . Where do i send my 2012 federal income tax return 5 year 1 year Sept. Where do i send my 2012 federal income tax return –Dec. Where do i send my 2012 federal income tax return . Where do i send my 2012 federal income tax return 5 year 2012 Feb. Where do i send my 2012 federal income tax return –May . Where do i send my 2012 federal income tax return 5 year 1 year Sept. Where do i send my 2012 federal income tax return –Dec. Where do i send my 2012 federal income tax return . Where do i send my 2012 federal income tax return 5 year 2013 Feb. Where do i send my 2012 federal income tax return –May . Where do i send my 2012 federal income tax return 5 year 1 year Sept. Where do i send my 2012 federal income tax return –Dec. Where do i send my 2012 federal income tax return . Where do i send my 2012 federal income tax return 5 year Total years of service 4. Where do i send my 2012 federal income tax return 5 years Full-time or part-time. Where do i send my 2012 federal income tax return   To figure your years of service, you must analyze each year individually and determine whether you worked full-time for the full year or something other than full-time. Where do i send my 2012 federal income tax return When determining whether you worked full-time or something other than full-time, use your employer's annual work period as the standard. Where do i send my 2012 federal income tax return Employer's annual work period. Where do i send my 2012 federal income tax return   Your employer's annual work period is the usual amount of time an individual working full-time in a specific position is required to work. Where do i send my 2012 federal income tax return Generally, this period of time is expressed in days, weeks, months, or semesters, and can span 2 calendar years. Where do i send my 2012 federal income tax return Note. Where do i send my 2012 federal income tax return You cannot accumulate more than 1 year of service in a 12-month period. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return All full-time teachers at ABC Public Schools are required to work both the September through December semester and the February through May semester. Where do i send my 2012 federal income tax return Therefore, the annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. Where do i send my 2012 federal income tax return Teachers at ABC Public Schools who work both semesters in the same calendar year are considered working a full year of service in that calendar year. Where do i send my 2012 federal income tax return Full-Time Employee for the Full Year Count each full year during which you were employed full-time as 1 year of service. Where do i send my 2012 federal income tax return In determining whether you were employed full-time, compare the amount of work you were required to perform with the amount of work normally required of others who held the same position with the same employer and who generally received most of their pay from the position. Where do i send my 2012 federal income tax return How to compare. Where do i send my 2012 federal income tax return   You can use any method that reasonably and accurately reflects the amount of work required. Where do i send my 2012 federal income tax return For example, if you are a teacher, you can use the number of hours of classroom instruction as a measure of the amount of work required. Where do i send my 2012 federal income tax return   In determining whether positions with the same employer are the same, consider all of the facts and circumstances concerning the positions, including the work performed, the methods by which pay is determined, and the descriptions (or titles) of the positions. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return An assistant professor employed in the English department of a university will be considered a full-time employee if the amount of work that he or she is required to perform is the same as the amount of work normally required of assistant professors of English at that university who get most of their pay from that position. Where do i send my 2012 federal income tax return   If no one else works for your employer in the same position, compare your work with the work normally required of others who held the same position with similar employers or similar positions with your employer. Where do i send my 2012 federal income tax return Full year of service. Where do i send my 2012 federal income tax return   A full year of service for a particular position means the usual annual work period of anyone employed full-time in that general type of work at that place of employment. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return If a doctor works for a hospital 12 months of a year except for a 1-month vacation, the doctor will be considered as employed for a full year if the other doctors at that hospital also work 11 months of the year with a 1-month vacation. Where do i send my 2012 federal income tax return Similarly, if the usual annual work period at a university consists of the fall and spring semesters, an instructor at that university who teaches these semesters will be considered as working a full year. Where do i send my 2012 federal income tax return Other Than Full-Time for the Full Year If, during any year, you were employed full-time for only part of your employer's annual work period, part-time for the entire annual work period, or part-time for only part of the work period, your year of service for that year is a fraction of your employer's annual work period. Where do i send my 2012 federal income tax return Full-time for part of the year. Where do i send my 2012 federal income tax return   If, during a year, you were employed full-time for only part of your employer's annual work period, figure the fraction for that year as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. Where do i send my 2012 federal income tax return The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return Jason was employed as a full-time instructor by a local college for the 4 months of the 2013 spring semester (February 2013 through May 2013). Where do i send my 2012 federal income tax return The annual work period for the college is 8 months (February through May and July through October). Where do i send my 2012 federal income tax return Given these facts, Jason was employed full-time for part of the annual work period and provided ½ of a year of service. Where do i send my 2012 federal income tax return Jason's years of service computation for 2013 is as follows: Number of months Jason worked = 4 = 1 Number of months in annual work period 8 2 Part-time for the full year. Where do i send my 2012 federal income tax return   If, during a year, you were employed part-time for the employer's entire annual work period, you figure the fraction for that year as follows: The numerator (top number) is the number of hours or days you worked. Where do i send my 2012 federal income tax return The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return Vance teaches one course at a local medical school. Where do i send my 2012 federal income tax return He teaches 3 hours per week for two semesters. Where do i send my 2012 federal income tax return Other faculty members at the same school teach 9 hours per week for two semesters. Where do i send my 2012 federal income tax return The annual work period of the medical school is two semesters. Where do i send my 2012 federal income tax return An instructor teaching 9 hours a week for two semesters is considered a full-time employee. Where do i send my 2012 federal income tax return Given these facts, Vance has worked part-time for a full annual work period. Where do i send my 2012 federal income tax return Vance has completed 1/3 of a year of service, figured as shown below. Where do i send my 2012 federal income tax return Number of hours per week Vance worked = 3 = 1 Number of hours per week considered full-time 9 3 Part-time for part of the year. Where do i send my 2012 federal income tax return   If, during any year, you were employed part-time for only part of your employer's annual work period, you figure your fraction for that year by multiplying two fractions. Where do i send my 2012 federal income tax return   Figure the first fraction as though you had worked full-time for part of the annual work period. Where do i send my 2012 federal income tax return The fraction is as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. Where do i send my 2012 federal income tax return The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. Where do i send my 2012 federal income tax return   Figure the second fraction as though you had worked part-time for the entire annual work period. Where do i send my 2012 federal income tax return The fraction is as follows: The numerator (top number) is the number of hours or days you worked. Where do i send my 2012 federal income tax return The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. Where do i send my 2012 federal income tax return   Once you have figured these two fractions, multiply them together to determine the fraction representing your partial year of service for the year. Where do i send my 2012 federal income tax return Example. Where do i send my 2012 federal income tax return Maria, an attorney, teaches a course for one semester at a law school. Where do i send my 2012 federal income tax return She teaches 3 hours per week. Where do i send my 2012 federal income tax return The annual work period for teachers at the school is two semesters. Where do i send my 2012 federal income tax return All full-time instructors at the school are required to teach 12 hours per week. Where do i send my 2012 federal income tax return Based on these facts, Maria is employed part-time for part of the annual work period. Where do i send my 2012 federal income tax return Her year of service for this year is determined by multiplying two fractions. Where do i send my 2012 federal income tax return Her computation is as follows: Maria's first fraction Number of semesters Maria worked = 1 Number of semesters in annual work period 2 Maria's second fraction Number of hours Maria worked per week = 3 = 1 Number of hours per week considered full-time 12 4 Maria would multiply these fractions to obtain the fractional year of service: 1 x 1 = 1         2 4 8         Figuring the Limit on Elective Deferrals You can use Part II of Worksheet 1 in chapter 9 to figure the limit on elective deferrals. Where do i send my 2012 federal income tax return Example Floyd has figured his limit on annual additions. Where do i send my 2012 federal income tax return The only other component needed before he can determine his MAC for 2014 is his limit on elective deferrals. Where do i send my 2012 federal income tax return Figuring Floyd's limit on elective deferrals. Where do i send my 2012 federal income tax return   Floyd has been employed with his current employer for less than 15 years. Where do i send my 2012 federal income tax return He is not eligible for the special 15-year increase. Where do i send my 2012 federal income tax return Therefore, his limit on elective deferrals for 2014 is $17,500 as shown in Table 4-2. Where do i send my 2012 federal income tax return Floyd's employer will not make any nonelective contributions to his 403(b) account and Floyd will not make any after-tax contributions. Where do i send my 2012 federal income tax return Additionally, Floyd's employer does not offer a Roth contribution program. Where do i send my 2012 federal income tax return Figuring Floyd's MAC Floyd has determined that his limit on annual additions for 2014 is $52,000 and his limit on elective deferrals is $17,500. Where do i send my 2012 federal income tax return Because elective deferrals are the only contributions made to Floyd's account, the maximum amount that can be contributed to a 403(b) account on Floyd's behalf in 2014 is $17,500, the lesser of both limits. Where do i send my 2012 federal income tax return Table 4-2. Where do i send my 2012 federal income tax return Worksheet 1. Where do i send my 2012 federal income tax return Maximum Amount Contributable (MAC) Note. Where do i send my 2012 federal income tax return Use this worksheet to figure your MAC. Where do i send my 2012 federal income tax return Part I. Where do i send my 2012 federal income tax return Limit on Annual Additions     1. Where do i send my 2012 federal income tax return Enter your includible compensation for your most recent year of service 1. Where do i send my 2012 federal income tax return $70,475 2. Where do i send my 2012 federal income tax return Maximum: For 2013 enter $51,000 For 2014 enter $52,000 2. Where do i send my 2012 federal income tax return 52,000 3. Where do i send my 2012 federal income tax return Enter the lesser of line 1 or line 2. Where do i send my 2012 federal income tax return This is your limit on annual additions 3. Where do i send my 2012 federal income tax return 52,000   Caution: If you had only nonelective contributions, skip Part II and enter the amount from line 3 on line 18. Where do i send my 2012 federal income tax return     Part II. Where do i send my 2012 federal income tax return Limit on Elective Deferrals     4. Where do i send my 2012 federal income tax return Maximum contribution: For 2013, enter $17,500 For 2014, enter $17,500 4. Where do i send my 2012 federal income tax return 17,500   Note. Where do i send my 2012 federal income tax return If you have at least 15 years of service with a qualifying organization, complete lines 5 through 17. Where do i send my 2012 federal income tax return If not, enter zero (-0-) on line 16 and go to line 17. Where do i send my 2012 federal income tax return     5. Where do i send my 2012 federal income tax return Amount per year of service 5. Where do i send my 2012 federal income tax return 5,000 6. Where do i send my 2012 federal income tax return Enter your years of service 6. Where do i send my 2012 federal income tax return   7. Where do i send my 2012 federal income tax return Multiply line 5 by line 6 7. Where do i send my 2012 federal income tax return   8. Where do i send my 2012 federal income tax return Enter the total of all elective deferrals made for you by the qualifying organization for prior years 8. Where do i send my 2012 federal income tax return   9. Where do i send my 2012 federal income tax return Subtract line 8 from line 7. Where do i send my 2012 federal income tax return If zero or less, enter zero (-0-) 9. Where do i send my 2012 federal income tax return   10. Where do i send my 2012 federal income tax return Maximum increase in limit for long service 10. Where do i send my 2012 federal income tax return 15,000 11. Where do i send my 2012 federal income tax return Enter the total of additional pre-tax elective deferrals made in prior years under the 15-year rule 11. Where do i send my 2012 federal income tax return   12. Where do i send my 2012 federal income tax return Enter the aggregate amount of all designated Roth contributions permitted for prior years under the 15-year rule 12. Where do i send my 2012 federal income tax return   13. Where do i send my 2012 federal income tax return Add lines 11 and 12 13. Where do i send my 2012 federal income tax return   14. Where do i send my 2012 federal income tax return Subtract line 13 from line 10 14. Where do i send my 2012 federal income tax return   15. Where do i send my 2012 federal income tax return Maximum additional contributions 15. Where do i send my 2012 federal income tax return 3,000 16. Where do i send my 2012 federal income tax return Enter the least of lines 9, 14, or 15. Where do i send my 2012 federal income tax return This is your increase in the limit for long service 16. Where do i send my 2012 federal income tax return -0- 17. Where do i send my 2012 federal income tax return Add lines 4 and 16. Where do i send my 2012 federal income tax return This is your limit on elective deferrals 17. Where do i send my 2012 federal income tax return 17,500   Part III. Where do i send my 2012 federal income tax return Maximum Amount Contributable     18. Where do i send my 2012 federal income tax return If you had only nonelective contributions, enter the amount from line 3. Where do i send my 2012 federal income tax return This is your MAC. Where do i send my 2012 federal income tax return    If you had only elective deferrals, enter the lesser of lines 3 or 17. Where do i send my 2012 federal income tax return This is your MAC. Where do i send my 2012 federal income tax return    If you had both elective deferrals and nonelective contributions, enter the amount from line 3. Where do i send my 2012 federal income tax return This is your MAC. Where do i send my 2012 federal income tax return (Use the amount on line 17 to determine if you have excess elective deferrals as explained in chapter 7. Where do i send my 2012 federal income tax return ) 18. Where do i send my 2012 federal income tax return $17,500 Prev  Up  Next   Home   More Online Publications