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Www Aarp Org Taxaide

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Www Aarp Org Taxaide

Www aarp org taxaide 6. Www aarp org taxaide   Tuition and Fees Deduction Table of Contents IntroductionWhat is the tax benefit of the tuition and fees deduction. Www aarp org taxaide Can You Claim the DeductionWho Can Claim the Deduction Who Cannot Claim the Deduction What Expenses QualifyQualified Education Expenses No Double Benefit Allowed Expenses That Do Not Qualify Who Is an Eligible Student Who Can Claim a Dependent's Expenses Figuring the DeductionEffect of the Amount of Your Income on the Amount of Your Deduction Claiming the Deduction Illustrated Example Introduction You may be able to deduct qualified education expenses paid during the year for yourself, your spouse, or your dependent(s). Www aarp org taxaide You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. Www aarp org taxaide The qualified expenses must be for higher education, as explained later under Qualified Education Expenses . Www aarp org taxaide What is the tax benefit of the tuition and fees deduction. Www aarp org taxaide   The tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000. Www aarp org taxaide   This deduction is taken as an adjustment to income. Www aarp org taxaide This means you can claim this deduction even if you do not itemize deductions on Schedule A (Form 1040). Www aarp org taxaide This deduction may be beneficial to you if you do not qualify for the American opportunity or lifetime learning credits. Www aarp org taxaide You can choose the education benefit that will give you the lowest tax. Www aarp org taxaide You may want to compare the tuition and fees deduction to the education credits. Www aarp org taxaide See chapter 2, American Opportunity Credit and chapter 3, Lifetime Learning Credit for more information on the education credits. Www aarp org taxaide Table 6-1. Www aarp org taxaide Tuition and Fees Deduction at a Glance summarizes the features of the tuition and fees deduction. Www aarp org taxaide Can You Claim the Deduction The following rules will help you determine if you can claim the tuition and fees deduction. Www aarp org taxaide Who Can Claim the Deduction Generally, you can claim the tuition and fees deduction if all three of the following requirements are met. Www aarp org taxaide You pay qualified education expenses of higher education. Www aarp org taxaide You pay the education expenses for an eligible student. Www aarp org taxaide The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption on your tax return. Www aarp org taxaide The term “qualified education expenses” is defined later under Qualified Education Expenses . Www aarp org taxaide “Eligible student” is defined later under Who Is an Eligible Student . Www aarp org taxaide For more information on claiming the deduction for a dependent, see Who Can Claim a Dependent's Expenses , later. Www aarp org taxaide Table 6-1. Www aarp org taxaide Tuition and Fees Deduction at a Glance Do not rely on this table alone. Www aarp org taxaide Refer to the text for complete details. Www aarp org taxaide Question Answer What is the maximum benefit? You can reduce your income subject to tax by up to $4,000. Www aarp org taxaide What is the limit on modified adjusted gross income (MAGI)? $160,000 if married filing a joint return; $80,000 if single, head of household, or qualifying widow(er). Www aarp org taxaide Where is the deduction taken? As an adjustment to income on  Form 1040 or Form 1040A. Www aarp org taxaide For whom must the expenses be paid? A student enrolled in an eligible educational institution who is either: •you,  •your spouse, or  •your dependent for whom you claim an exemption. Www aarp org taxaide What tuition and fees are deductible? Tuition and fees required for enrollment or attendance at an eligible postsecondary educational institution, but not including personal, living, or family expenses, such as room and board. Www aarp org taxaide Who Cannot Claim the Deduction You cannot claim the tuition and fees deduction if any of the following apply. Www aarp org taxaide Your filing status is married filing separately. Www aarp org taxaide Another person can claim an exemption for you as a dependent on his or her tax return. Www aarp org taxaide You cannot take the deduction even if the other person does not actually claim that exemption. Www aarp org taxaide Your modified adjusted gross income (MAGI) is more than $80,000 ($160,000 if filing a joint return). Www aarp org taxaide You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. Www aarp org taxaide More information on nonresident aliens can be found in Publication 519. Www aarp org taxaide What Expenses Qualify The tuition and fees deduction is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Www aarp org taxaide Generally, the deduction is allowed for qualified education expenses paid in 2013 in connection with enrollment at an institution of higher education during 2013 or for an academic period beginning in 2013 or in the first 3 months of 2014. Www aarp org taxaide 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 deduction. Www aarp org taxaide Academic period. Www aarp org taxaide   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. Www aarp org taxaide 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. Www aarp org taxaide Paid with borrowed funds. Www aarp org taxaide   You can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan. Www aarp org taxaide Use the expenses to figure the deduction for the year in which the expenses are paid, not the year in which the loan is repaid. Www aarp org taxaide Treat loan disbursements sent directly to the educational institution as paid on the date the institution credits the student's account. Www aarp org taxaide Student withdraws from class(es). Www aarp org taxaide   You can claim a tuition and fees deduction for qualified education expenses not refunded when a student withdraws. Www aarp org taxaide Qualified Education Expenses For purposes of the tuition and fees deduction, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Www aarp org taxaide Eligible educational institution. Www aarp org taxaide   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. Www aarp org taxaide S. Www aarp org taxaide Department of Education. Www aarp org taxaide It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Www aarp org taxaide The educational institution should be able to tell you if it is an eligible educational institution. Www aarp org taxaide   Certain educational institutions located outside the United States also participate in the U. Www aarp org taxaide S. Www aarp org taxaide Department of Education's Federal Student Aid (FSA) programs. Www aarp org taxaide Related expenses. Www aarp org taxaide   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. Www aarp org taxaide Prepaid expenses. Www aarp org taxaide   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring an education credit for 2013 only. Www aarp org taxaide See Academic period , earlier. Www aarp org taxaide For example, you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring an education credit for 2013 only (if you meet all the other requirements). Www aarp org taxaide 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). Www aarp org taxaide In the following examples, assume that each student is an eligible student and each college or university an eligible educational institution. Www aarp org taxaide Example 1. Www aarp org taxaide Jackson is a sophomore in University V's degree program in dentistry. Www aarp org taxaide This year, in addition to tuition, he is required to pay a fee to the university for the rental of the dental equipment he will use in this program. Www aarp org taxaide Because the equipment rental fee must be paid to University V for enrollment and attendance, Jackson's equipment rental fee is a qualified education expense. Www aarp org taxaide Example 2. Www aarp org taxaide Donna and Charles, both first-year students at College W, are required to have certain books and other reading materials to use in their mandatory first-year classes. Www aarp org taxaide The college has no policy about how students should obtain these materials, but any student who purchases them from College W's bookstore will receive a bill directly from the college. Www aarp org taxaide Charles bought his books from a friend, so what he paid for them is not a qualified education expense. Www aarp org taxaide Donna bought hers at College W's bookstore. Www aarp org taxaide Although Donna paid College W directly for her first-year books and materials, her payment is not a qualified education expense because the books and materials are not required to be purchased from College W for enrollment or attendance at the institution. Www aarp org taxaide Example 3. Www aarp org taxaide When Marci enrolled at College X for her freshman year, she had to pay a separate student activity fee in addition to her tuition. Www aarp org taxaide This activity fee is required of all students, and is used solely to fund on-campus organizations and activities run by students, such as the student newspaper and the student government. Www aarp org taxaide No portion of the fee covers personal expenses. Www aarp org taxaide Although labeled as a student activity fee, the fee is required for Marci's enrollment and attendance at College X. Www aarp org taxaide Therefore, it is a qualified expense. Www aarp org taxaide No Double Benefit Allowed You cannot do any of the following. Www aarp org taxaide Deduct qualified education expenses you deduct under any other provision of the law, for example, as a business expense. Www aarp org taxaide Deduct qualified education expenses for a student on your income tax return if you or anyone else claims an American opportunity or lifetime learning credit for that same student in the same year. Www aarp org taxaide Deduct qualified education expenses that have been used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or a qualified tuition program (QTP). Www aarp org taxaide For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. Www aarp org taxaide See Coordination With Tuition and Fees Deduction in chapter 8, Qualified Tuition Program, later. Www aarp org taxaide Deduct qualified education expenses that have been paid with tax-free interest on U. Www aarp org taxaide S. Www aarp org taxaide savings bonds (Form 8815). Www aarp org taxaide See Figuring the Tax-Free Amount in chapter 10, Education Savings Bond Program, later. Www aarp org taxaide Deduct qualified education expenses that have been paid with tax-free educational assistance, such as a scholarship, grant, or assistance provided by an employer. Www aarp org taxaide See the following section on Adjustments to Qualified Education Expenses. Www aarp org taxaide Adjustments to Qualified Education Expenses For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. Www aarp org taxaide The result is the amount of adjusted qualified education expenses for each student. Www aarp org taxaide You must also reduce qualified education expenses by the other amounts referred to in No Double Benefit Allowed , earlier. Www aarp org taxaide Tax-free educational assistance. Www aarp org taxaide   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. Www aarp org taxaide See Academic period , earlier. Www aarp org taxaide   Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. Www aarp org taxaide 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). Www aarp org taxaide   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. Www aarp org taxaide 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. Www aarp org taxaide   This tax-free education assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Www aarp org taxaide Generally, any scholarship or fellowship is treated as tax free. Www aarp org taxaide However, a scholarship or fellowship is not treated as tax free to the extent the student includes it in gross income (if the student is required to file a tax return for the year the scholarship or fellowship is received) and either of the following is true. Www aarp org taxaide The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Www aarp org taxaide The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Www aarp org taxaide You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year it is received. Www aarp org taxaide For details, see Adjustments to Qualified Education Expenses in chapters 2 and 3. Www aarp org taxaide Refunds. Www aarp org taxaide   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or require repayment (recapture) of a credit claimed in an earlier year. Www aarp org taxaide Some tax-free educational assistance received after 2013 may be treated as a refund. Www aarp org taxaide See Tax-free educational assistance , earlier. Www aarp org taxaide Refunds received in 2013. Www aarp org taxaide   For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses for 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. Www aarp org taxaide Refunds received after 2013 but before your income tax return is filed. Www aarp org taxaide   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid before you file an income tax return for 2013, the amount of qualified education expenses for 2013 is reduced by the amount of the refund. Www aarp org taxaide Refunds received after 2013 and after your income tax return is filed. Www aarp org taxaide   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid after you file an income tax return for 2013, you may need to repay some or all of the credit. Www aarp org taxaide See Credit recapture , later. Www aarp org taxaide Coordination with Coverdell education savings accounts and qualified tuition programs. Www aarp org taxaide   Reduce your qualified education expenses by any qualified education expenses used to figure the exclusion from gross income of (a) interest received under an education savings bond program, or (b) any distribution from a Coverdell education savings account or qualified tuition program (QTP). Www aarp org taxaide For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. Www aarp org taxaide Credit recapture. Www aarp org taxaide    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. Www aarp org taxaide You do this by refiguring the amount of your adjusted qualified education expenses for 2013 by reducing that amount by the amount of the refund or tax-free educational assistance. Www aarp org taxaide 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). Www aarp org taxaide Include that amount as an additional tax for the year the refund or tax-free assistance was received. Www aarp org taxaide Example. Www aarp org taxaide   You paid $3,500 of qualified education expenses in December 2013, and your child began college in January 2014. Www aarp org taxaide You claimed $3,500 as the tuition and fees deduction on your 2013 income tax return. Www aarp org taxaide The reduction reduced your taxable income by $3,500. Www aarp org taxaide Also, you claimed no tax credits in 2013. Www aarp org taxaide Your child withdrew from two classes and you received a refund of $2,000 in 2014 after you filed your 2013 tax return. Www aarp org taxaide Refigure your 2013 tuition and fees deduction using $1,500 of qualified education expense instead of the $3,500. Www aarp org taxaide The refigured tuition and fees deduction is $1,500. Www aarp org taxaide Do not file an amended 2013 tax return to account for this adjustment. Www aarp org taxaide Instead, include the difference of $2,000 (but only to the extent this difference would have increased your 2013 tax) on the “Other income” line of your 2014 Form 1040. Www aarp org taxaide You cannot file Form 1040A for 2014. Www aarp org taxaide Amounts that do not reduce qualified education expenses. Www aarp org taxaide   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. Www aarp org taxaide   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. Www aarp org taxaide The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Restrictions. Www aarp org taxaide The use of the money is not restricted. Www aarp org taxaide Example 1. Www aarp org taxaide In 2013, Jackie paid $3,000 for tuition and $5,000 for room and board at University X. Www aarp org taxaide The university did not require her to pay any fees in addition to her tuition in order to enroll in or attend classes. Www aarp org taxaide To help pay these costs, she was awarded a $2,000 scholarship and a $4,000 student loan. Www aarp org taxaide The terms of the scholarship state that it can be used to pay any of Jackie's college expenses. Www aarp org taxaide University X applies the $2,000 scholarship against Jackie's $8,000 total bill, and Jackie pays the $6,000 balance of her bill from University X with a combination of her student loan and her savings. Www aarp org taxaide Jackie does not report any portion of the scholarship as income on her tax return. Www aarp org taxaide In figuring the tuition and fees deduction, Jackie must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income. Www aarp org taxaide The student loan is not tax-free educational assistance, so she does not need to reduce her qualified expenses by any part of the loan proceeds. Www aarp org taxaide Jackie is treated as having paid $1,000 in qualified education expenses ($3,000 tuition – $2,000 scholarship) in 2013. Www aarp org taxaide Example 2. Www aarp org taxaide The facts are the same as in Example 1, except that Jackie reports her entire scholarship as income on her tax return. Www aarp org taxaide Because Jackie reported the entire $2,000 scholarship in her income, she does not need to reduce her qualified education expenses. Www aarp org taxaide Jackie is treated as having paid $3,000 in qualified education expenses. Www aarp org taxaide Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. Www aarp org taxaide This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Www aarp org taxaide Sports, games, hobbies, and noncredit courses. Www aarp org taxaide   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. Www aarp org taxaide However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. Www aarp org taxaide Comprehensive or bundled fees. Www aarp org taxaide   Some eligible educational institutions combine all of their fees for an academic period into one amount. Www aarp org taxaide If you do not receive, or do not have access to, an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed above, contact the institution. Www aarp org taxaide The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T. Www aarp org taxaide See Figuring the Deduction , later, for more information about Form 1098-T. Www aarp org taxaide Who Is an Eligible Student For purposes of the tuition and fees deduction, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (as defined under Qualified Education Expenses , earlier). Www aarp org taxaide Who Can Claim a Dependent's Expenses Generally, in order to claim the tuition and fees deduction for qualified education expenses for a dependent, you must: Have paid the expenses, and Claim an exemption for the student as a dependent. Www aarp org taxaide For you to be able to deduct qualified education expenses for your dependent, you must claim an exemption for that individual. Www aarp org taxaide You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c. Www aarp org taxaide IF your dependent is an eligible student and you. Www aarp org taxaide . Www aarp org taxaide . Www aarp org taxaide AND. Www aarp org taxaide . Www aarp org taxaide . Www aarp org taxaide THEN. Www aarp org taxaide . Www aarp org taxaide . Www aarp org taxaide claim an exemption for your dependent you paid all qualified education expenses for your dependent only you can deduct the qualified education expenses that you paid. Www aarp org taxaide Your dependent cannot take a deduction. Www aarp org taxaide claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Www aarp org taxaide do not claim an exemption for your dependent you paid all qualified education expenses no one is allowed to take a deduction. Www aarp org taxaide do not claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Www aarp org taxaide Expenses paid by dependent. Www aarp org taxaide   If your dependent pays qualified education expenses, no one can take a tuition and fees deduction for those expenses. Www aarp org taxaide Neither you nor your dependent can deduct the expenses. Www aarp org taxaide For purposes of the tuition and fees deduction, you are not treated as paying any expenses actually paid by a dependent for whom you or anyone other than the dependent can claim an exemption. Www aarp org taxaide This rule applies even if you do not claim an exemption for your dependent on your tax return. Www aarp org taxaide Expenses paid by you. Www aarp org taxaide   If you claim an exemption for a dependent who is an eligible student, only you can include any expenses you paid when figuring your tuition and fees deduction. Www aarp org taxaide Expenses paid under divorce decree. Www aarp org taxaide   Qualified education expenses paid directly to an eligible educational institution for a student under a court-approved divorce decree are treated as paid by the student. Www aarp org taxaide Only the student would be eligible to take a tuition and fees deduction for that payment, and then only if no one else could claim an exemption for the student. Www aarp org taxaide Expenses paid by others. Www aarp org taxaide   Someone other than you, your spouse, or your dependent (such as a relative or former spouse) may make a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses. Www aarp org taxaide In this case, the student is treated as receiving the payment from the other person and, in turn, paying the institution. Www aarp org taxaide If you claim, or can claim, an exemption on your tax return for the student, you are not considered to have paid the expenses and you cannot deduct them. Www aarp org taxaide If the student is not a dependent, only the student can deduct payments made directly to the institution for his or her expenses. Www aarp org taxaide If the student is your dependent, no one can deduct the payments. Www aarp org taxaide Example. Www aarp org taxaide In 2013, Ms. Www aarp org taxaide Baker makes a payment directly to an eligible educational institution for her grandson Dan's qualified education expenses. Www aarp org taxaide For purposes of deducting tuition and fees, Dan is treated as receiving the money from his grandmother and, in turn, paying his own qualified education expenses. Www aarp org taxaide If an exemption cannot be claimed for Dan on anyone else's tax return, only Dan can claim a tuition and fees deduction for his grandmother's payment. Www aarp org taxaide If someone else can claim an exemption for Dan, no one will be allowed a deduction for Ms. Www aarp org taxaide Baker's payment. Www aarp org taxaide Tuition reduction. Www aarp org taxaide   When an eligible educational institution provides a reduction in tuition to an employee of the institution (or spouse or dependent child of an employee), the amount of the reduction may or may not be taxable. Www aarp org taxaide If it is taxable, the employee is treated as receiving a payment of that amount and, in turn, paying it to the educational institution on behalf of the student. Www aarp org taxaide For more information on tuition reductions, see Qualified Tuition Reduction , in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Www aarp org taxaide Figuring the Deduction The maximum tuition and fees deduction in 2013 is $4,000, $2,000, or $0, depending on the amount of your MAGI. Www aarp org taxaide See Effect of the Amount of Your Income on the Amount of Your Deduction , later. Www aarp org taxaide Form 1098-T. Www aarp org taxaide   To help you figure your tuition and fees deduction, the student should receive Form 1098-T (see Appendix A for a completed example of Form 1098-T). Www aarp org taxaide Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. Www aarp org taxaide An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. Www aarp org taxaide However, the amount in boxes 1 and 2 of Form 1098-T might be different than what you paid. Www aarp org taxaide When figuring the deduction, use only the amounts you paid in 2013 for qualified education expenses. Www aarp org taxaide   In addition, Form 1098-T should give other information for that institution, such as adjustments made for prior years, the amount of scholarships or grants, reimbursements or refunds, and whether the student was enrolled at least half-time or was a graduate student. Www aarp org taxaide    The eligible educational institution may ask for a completed Form W-9S or similar statement to obtain the student's name, address, and taxpayer identification number. Www aarp org taxaide Effect of the Amount of Your Income on the Amount of Your Deduction If your MAGI is not more than $65,000 ($130,000 if you are married filing jointly), your maximum tuition and fees deduction is $4,000. Www aarp org taxaide If your MAGI is larger than $65,000 ($130,000 if you are married filing jointly), but is not more than $80,000 ($160,000 if you are married filing jointly), your maximum deduction is $2,000. Www aarp org taxaide No tuition and fees deduction is allowed if your MAGI is larger than $80,000 ($160,000 if you are married filing jointly). Www aarp org taxaide Modified adjusted gross income (MAGI). Www aarp org taxaide   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return before subtracting any deduction for tuition and fees. Www aarp org taxaide However, as discussed below, there may be other modifications. Www aarp org taxaide MAGI when using Form 1040A. Www aarp org taxaide   If you file Form 1040A, your MAGI is the AGI on line 22 of that form, figured without taking into account any amount on line 19 (tuition and fees deduction). Www aarp org taxaide MAGI when using Form 1040. Www aarp org taxaide   If you file Form 1040, your MAGI is the AGI on line 38 of that form, figured without taking into account any amount on line 34 (tuition and fees deduction) or line 35 (domestic production activities deduction), and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Www aarp org taxaide   Table 6-2 shows how the amount of your MAGI can affect your tuition and fees deduction. Www aarp org taxaide   You can use Worksheet 6-1. Www aarp org taxaide MAGI for the Tuition and Fees Deduction , later, to figure your MAGI. Www aarp org taxaide Table 6-2. Www aarp org taxaide Effect of MAGI on Maximum Tuition and Fees Deduction IF your filing status is. Www aarp org taxaide . Www aarp org taxaide . Www aarp org taxaide AND your MAGI is. Www aarp org taxaide . Www aarp org taxaide . Www aarp org taxaide THEN your maximum tuition and fees deduction is. Www aarp org taxaide . Www aarp org taxaide . Www aarp org taxaide single,  head of household, or qualifying widow(er) not more than $65,000 $4,000. Www aarp org taxaide more than $65,000  but not more than $80,000 $2,000. Www aarp org taxaide more than $80,000 $0. Www aarp org taxaide married filing joint return not more than $130,000 $4,000. Www aarp org taxaide more than $130,000 but not more than $160,000 $2,000. Www aarp org taxaide more than $160,000 $0. Www aarp org taxaide Claiming the Deduction You claim a tuition and fees deduction by completing Form 8917 and submitting it with your Form 1040 or Form 1040A. Www aarp org taxaide Enter the deduction on Form 1040, line 34, or Form 1040A, line 19. Www aarp org taxaide A filled-in Form 8917 is shown at the end of this chapter. Www aarp org taxaide Illustrated Example Tim Pfister, a single taxpayer, enrolled full-time at a local college to earn a degree in engineering. Www aarp org taxaide This is the first year of his postsecondary education. Www aarp org taxaide During 2013, he paid $3,600 for his qualified 2013 tuition expense. Www aarp org taxaide Both he and the college meet all of the requirements for the tuition and fees deduction. Www aarp org taxaide Tim's total income (Form 1040, line 22) and MAGI are $26,000. Www aarp org taxaide He figures his deduction of $3,600 as shown on Form 8917, later. Www aarp org taxaide Worksheet 6-1. Www aarp org taxaide MAGI for the Tuition and Fees Deduction Use this worksheet if you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from sources within Puerto Rico. Www aarp org taxaide Before using this worksheet, you must complete Form 1040, lines 7 through 33, and figure any amount to be entered on the dotted line next to line 36. Www aarp org taxaide 1. Www aarp org taxaide Enter the amount from Form 1040, line 22   1. Www aarp org taxaide         2. Www aarp org taxaide Enter the total from Form 1040, lines 23 through 33   2. Www aarp org taxaide               3. Www aarp org taxaide Enter the total of any amounts entered on the dotted line next to Form 1040, line 36   3. Www aarp org taxaide               4. Www aarp org taxaide Add lines 2 and 3   4. Www aarp org taxaide         5. Www aarp org taxaide Subtract line 4 from line 1   5. Www aarp org taxaide         6. Www aarp org taxaide Enter your foreign earned income exclusion and/or housing  exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   6. Www aarp org taxaide         7. Www aarp org taxaide Enter your foreign housing deduction (Form 2555, line 50)   7. Www aarp org taxaide         8. Www aarp org taxaide Enter the amount of income from Puerto Rico you are excluding   8. Www aarp org taxaide         9. Www aarp org taxaide Enter the amount of income from American Samoa you are  excluding (Form 4563, line 15)   9. Www aarp org taxaide         10. Www aarp org taxaide Add lines 5 through 9. Www aarp org taxaide This is your modified adjusted gross income   10. Www aarp org taxaide     Note. Www aarp org taxaide If the amount on line 10 is more than $80,000 ($160,000 if married filing jointly),  you cannot take the deduction for tuition and fees. Www aarp org taxaide       This image is too large to be displayed in the current screen. Www aarp org taxaide Please click the link to view the image. Www aarp org taxaide Form 8917 for Tim Pfister Prev  Up  Next   Home   More Online Publications
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The Www Aarp Org Taxaide

Www aarp org taxaide Publication 595 - Main Contents Table of Contents Capital Construction FundCCF Accounts Types of Accounts You Must Maintain Within a CCF Tax Treatment of CCF Deposits Tax Treatment of CCF Earnings Tax Treatment of CCF Withdrawals More Information How To Get Tax Help Capital Construction Fund The following sections discuss CCF accounts and the types of bookkeeping accounts you must maintain when you invest in a CCF account. Www aarp org taxaide They also discuss the income tax treatment of CCF deposits, earnings, and withdrawals. Www aarp org taxaide CCF Accounts This section explains who can open a CCF account and how to use the account to defer income tax. Www aarp org taxaide Opening a CCF account. Www aarp org taxaide   If you are a U. Www aarp org taxaide S. Www aarp org taxaide citizen and you own or lease one or more eligible vessels (defined later), you can open a CCF account. Www aarp org taxaide However, before you open your CCF account, you must enter into an agreement with the Secretary of Commerce through the NMFS. Www aarp org taxaide This agreement will establish the following. Www aarp org taxaide Agreement vessels. Www aarp org taxaide Eligible vessels named in the agreement that will be the basis for the deferral of income tax. Www aarp org taxaide Planned use of withdrawals. Www aarp org taxaide Use of CCF funds to acquire, build, or rebuild a vessel. Www aarp org taxaide CCF depository. Www aarp org taxaide Where your CCF funds will be held. Www aarp org taxaide    You can request an application kit or get additional information from NMFS at the following address. Www aarp org taxaide NOAA/NMFS, Financial Services Division, F/MB5 Capital Construction Fund Program 1315 East-West Highway Silver Spring, MD 20910-3282    You can obtain information on the Capital Construction Fund Program at the following website: www. Www aarp org taxaide nmfs. Www aarp org taxaide noaa. Www aarp org taxaide gov/mb/financial_services/ccf. Www aarp org taxaide htm. Www aarp org taxaide    You can call NMFS to request an application kit or get additional information at (301) 713-2393 (ext. Www aarp org taxaide 204). Www aarp org taxaide Their fax number is (301) 713-1939. Www aarp org taxaide Eligible vessels. Www aarp org taxaide   There are two types of vessels that may be considered eligible, those weighing 5 tons or more and those weighing less than 5 tons. Www aarp org taxaide For each type, certain requirements must be met. Www aarp org taxaide Vessel weighing 5 tons or more. Www aarp org taxaide   To be considered eligible, the vessel must meet all the following requirements. Www aarp org taxaide Be built or rebuilt in the United States. Www aarp org taxaide Be documented under the laws of the United States. Www aarp org taxaide Be used commercially in the fisheries of the United States. Www aarp org taxaide Be operated in the foreign or domestic commerce of the United States. Www aarp org taxaide Vessel weighing less than 5 tons. Www aarp org taxaide   A small vessel, weighing at least 2 net tons but less than 5 net tons, must meet all the following requirements to be considered eligible. Www aarp org taxaide Be built or rebuilt in the United States. Www aarp org taxaide Be owned by a U. Www aarp org taxaide S. Www aarp org taxaide citizen. Www aarp org taxaide Have a home port in the United States. Www aarp org taxaide Be used commercially in the fisheries of the United States. Www aarp org taxaide Deferring tax on CCF deposits and earnings. Www aarp org taxaide   You can use a CCF account to defer income tax by taking the following actions. Www aarp org taxaide Making deposits to your CCF account from taxable income. Www aarp org taxaide Excluding from income deposits assigned to certain accounts (discussed later). Www aarp org taxaide Making withdrawals from your CCF account when you acquire, build, or rebuild fishing vessels. Www aarp org taxaide Reducing the basis of fishing vessels you acquire, build, or rebuild to recapture amounts previously excluded from tax. Www aarp org taxaide    Reporting requirements. Www aarp org taxaide Beginning with the tax year in which you establish your agreement, you must report annual deposit and withdrawal activity to the NMFS on NOAA Form 34-82. Www aarp org taxaide This form is due within 30 days after you file your federal income tax return even if no deposits or withdrawals are made. Www aarp org taxaide For more information, contact the NMFS at the address or phone number given earlier. Www aarp org taxaide Types of Accounts You Must Maintain Within a CCF This section discusses the three types of bookkeeping accounts you must maintain when you invest in a CCF account. Www aarp org taxaide Your total CCF deposits and earnings for any given year are limited to the amount attributed to these three accounts for that year. Www aarp org taxaide Capital account. Www aarp org taxaide   The capital account consists primarily of amounts attributable to the following items. Www aarp org taxaide Allowable depreciation deductions for agreement vessels. Www aarp org taxaide Any nontaxable return of capital from either (a) or (b), below. Www aarp org taxaide The sale or other disposition of agreement vessels. Www aarp org taxaide Insurance or indemnity proceeds attributable to agreement vessels. Www aarp org taxaide Any tax-exempt interest earned on state or local bonds in your CCF account. Www aarp org taxaide Capital gain account. Www aarp org taxaide   The capital gain account consists of amounts attributable to the following items reduced by any capital losses from assets held in your CCF account for more than 6 months. Www aarp org taxaide Any capital gain from either of the following sources. Www aarp org taxaide The sale or other disposition of agreement vessels held for more than 6 months. Www aarp org taxaide Insurance or indemnity proceeds attributable to agreement vessels held for more than 6 months. Www aarp org taxaide Any capital gain from assets held in your CCF account for more than 6 months. Www aarp org taxaide Ordinary income account. Www aarp org taxaide   The ordinary income account consists of amounts attributable to the following items. Www aarp org taxaide Any earnings (without regard to the carryback of any net operating or net capital loss) from the operation of agreement vessels in the fisheries of the United States or in the foreign or domestic commerce of the United States. Www aarp org taxaide Any capital gain from the following sources reduced by any capital losses from assets held in your CCF account for 6 months or less. Www aarp org taxaide The sale or other disposition of agreement vessels held for 6 months or less. Www aarp org taxaide Insurance or indemnity proceeds attributable to agreement vessels held for 6 months or less. Www aarp org taxaide Any capital gain from assets held in your CCF account for 6 months or less. Www aarp org taxaide Any ordinary income (such as depreciation recapture) from either of the following sources. Www aarp org taxaide The sale or other disposition of agreement vessels. Www aarp org taxaide Insurance or indemnity proceeds attributable to agreement vessels. Www aarp org taxaide Any interest (not including tax-exempt interest from state and local bonds), most dividends, and other ordinary income earned on the assets in your CCF account. Www aarp org taxaide Tax Treatment of CCF Deposits This section explains the tax treatment of income used as the basis for CCF deposits. Www aarp org taxaide Capital gains. Www aarp org taxaide   Do not report any transaction that produces a capital gain if you deposit the net proceeds into your CCF account. Www aarp org taxaide This treatment applies to either of the following transactions. Www aarp org taxaide The sale or other disposition of an agreement vessel. Www aarp org taxaide The receipt of insurance or indemnity proceeds attributable to an agreement vessel. Www aarp org taxaide Depreciation recapture. Www aarp org taxaide   Do not report any transaction that produces depreciation recapture if you deposit the net proceeds into your CCF account. Www aarp org taxaide This treatment applies to either of the following transactions. Www aarp org taxaide The sale or other disposition of an agreement vessel. Www aarp org taxaide The receipt of insurance or indemnity proceeds attributable to an agreement vessel. Www aarp org taxaide Earnings from operations. Www aarp org taxaide   Report earnings from the operation of agreement vessels on your Schedule C or C-EZ (Form 1040) even if you deposit part of these earnings into your CCF account. Www aarp org taxaide You subtract any part of the earnings you deposited into your CCF account from the amount you would otherwise enter as taxable income on Form 1040, line 43 (for 2005). Www aarp org taxaide Next to line 43, write “CCF” and the amount of the deposits. Www aarp org taxaide Do not deduct these CCF deposits on Schedule C or C-EZ (Form 1040). Www aarp org taxaide If you deposit earnings from operations into your CCF account and you must complete other forms such as Form 6251, Alternative Minimum Tax (Individuals), or a worksheet for Schedule D (Form 1040), you will need to make an extra computation. Www aarp org taxaide When the other form instructs you to use the amount from Form 1040, line 41 (for 2005), do not use that amount. Www aarp org taxaide Instead, add Form 1040, lines 42 and 43 (for 2005), and use that amount. Www aarp org taxaide Self-employment tax. Www aarp org taxaide   You must use your net profit or loss from your fishing business to figure your self-employment tax. Www aarp org taxaide Do not reduce your net profit or loss by any earnings from operations you deposit into your CCF account. Www aarp org taxaide    Partnerships and S corporations. Www aarp org taxaide The deduction for partnership earnings from operations deposited into a CCF account is separately stated on Schedule K (Form 1065), line 13d, and allocated to the partners on Schedule K-1 (Form 1065), box 13 (for 2005). Www aarp org taxaide   The deduction for S corporation earnings deposited into a CCF account is separately stated on Schedule K (Form 1120S), line 12d, and allocated to the shareholders on Schedule K-1 (Form 1120S), box 12 (for 2005). Www aarp org taxaide Tax Treatment of CCF Earnings This section explains the tax treatment of the earnings from the assets in your CCF account when the earnings are redeposited or left in your account. Www aarp org taxaide However, if you choose to withdraw the earnings in the year earned, you must generally pay income tax on them. Www aarp org taxaide Capital gains. Www aarp org taxaide   Do not report any capital gains from the sale of capital assets held in your CCF account. Www aarp org taxaide This includes capital gain distributions reported to you on Form 1099-DIV or a substitute statement. Www aarp org taxaide However, you should attach a statement to your tax return to list the payers and the amounts and to identify the capital gains as “CCF account earnings. Www aarp org taxaide ” Interest and dividends. Www aarp org taxaide   Do not report any ordinary income (such as interest and dividends) you earn on the assets in your CCF account. Www aarp org taxaide However, you should attach a statement to your return to list the payers and the amounts and to identify them as “CCF account earnings. Www aarp org taxaide ”   If you are required to file Schedule B (Form 1040), you can add these earnings to the list of payers and amounts on line 1 or line 5 and identify them as “CCF earnings. Www aarp org taxaide ” Then, subtract the same amounts from the list and identify them as “CCF deposits. Www aarp org taxaide ” Tax-exempt interest. Www aarp org taxaide   Do not report tax-exempt interest from state or local bonds you held in your CCF account. Www aarp org taxaide You are not required to report this interest on Form 1040, line 8b. Www aarp org taxaide Tax Treatment of CCF Withdrawals This section discusses the tax treatment of amounts you withdraw from your CCF account during the year. Www aarp org taxaide Qualified Withdrawals A qualified withdrawal from a CCF account is one that is approved by NMFS for either of the following uses. Www aarp org taxaide Acquiring, building, or rebuilding qualified vessels (defined next). Www aarp org taxaide Making principal payments on the mortgage of a qualified vessel. Www aarp org taxaide NMFS will not approve amounts withdrawn to purchase nets not continuously attached to the vessel, such as seine nets, gill set-nets, and gill drift-nets. Www aarp org taxaide NMFS will approve amounts withdrawn to purchase trawl nets. Www aarp org taxaide Qualified vessel. Www aarp org taxaide   This is any vessel that meets all of the following requirements. Www aarp org taxaide The vessel was built or rebuilt in the United States. Www aarp org taxaide The vessel is documented under the laws of the United States. Www aarp org taxaide The person maintaining the CCF account agrees with the Secretary of Commerce that the vessel will be operated in United States foreign trade, Great Lakes trade, noncontiguous domestic trade, or the fisheries of the United States. Www aarp org taxaide How to determine the source of qualified withdrawals. Www aarp org taxaide   When you make a qualified withdrawal, the amount is treated as being withdrawn in the following order from the accounts listed below. Www aarp org taxaide The capital account. Www aarp org taxaide The capital gain account. Www aarp org taxaide The ordinary income account. Www aarp org taxaide Excluding qualified withdrawals from tax. Www aarp org taxaide   Do not report on your income tax return any qualified withdrawals from your CCF account. Www aarp org taxaide Reduce the depreciable basis of fishing vessels you acquire, build, or rebuild when you make a qualified withdrawal from either the capital gain or the ordinary income account. Www aarp org taxaide Nonqualified Withdrawals A nonqualified withdrawal from a CCF account is generally any withdrawal that is not a qualified withdrawal. Www aarp org taxaide Qualified withdrawals are defined under Qualified Withdrawals, earlier. Www aarp org taxaide Examples. Www aarp org taxaide   Examples of nonqualified withdrawals include the following amounts from either the ordinary income account or the capital gain account. Www aarp org taxaide Amounts remaining in a CCF account upon termination of your agreement with NMFS. Www aarp org taxaide Amounts you withdraw and use to make principal payments on the mortgage of a vessel if the basis of that vessel and the bases of other vessels you own have already been reduced to zero. Www aarp org taxaide Amounts determined by the IRS to cause your CCF account balance to exceed the amount appropriate to meet your planned use of withdrawals. Www aarp org taxaide You will generally be given 3 years to revise your plans to cover this excess balance. Www aarp org taxaide Amounts you leave in your account for more than 25 years. Www aarp org taxaide There is a graduated schedule under which the percentage applied to determine the amount of the nonqualified withdrawal increases from 20% in the 26th year to 100% in the 30th year. Www aarp org taxaide How to determine the source of nonqualified withdrawals. Www aarp org taxaide    When you make a nonqualified withdrawal from your CCF account, the amount is treated as being withdrawn in the following order from the accounts listed below. Www aarp org taxaide The ordinary income account. Www aarp org taxaide The capital gain account. Www aarp org taxaide The capital account. Www aarp org taxaide Paying tax on nonqualified withdrawals. Www aarp org taxaide   In general, nonqualified withdrawals are taxed separately from your other gross income and at the highest marginal tax rate in effect for the year of withdrawal. Www aarp org taxaide However, nonqualified withdrawals treated as made from the capital gain account are taxed at a rate that cannot exceed 15% for individuals and 34% for corporations. Www aarp org taxaide    Partnerships and S corporations. Www aarp org taxaide Taxable nonqualified partnership withdrawals are separately stated on Schedule K (Form 1065), line 20c, and allocated to the partners on Schedule K-1 (Form 1065), box 20 (for 2005). Www aarp org taxaide Taxable nonqualified withdrawals by an S corporation are separately stated on Schedule K (Form 1120S), line 17d, and allocated to the shareholders on Schedule K-1 (Form 1120S), box 17. Www aarp org taxaide Interest. Www aarp org taxaide   You must pay interest on the additional tax due to nonqualified withdrawals that are treated as made from either the ordinary income or the capital gain account. Www aarp org taxaide The interest period begins on the last date for paying tax for the year for which you deposited the amount you withdrew from your CCF account. Www aarp org taxaide The period ends on the last date for paying tax for the year in which you make the nonqualified withdrawal. Www aarp org taxaide The interest rate on the nonqualified withdrawal is simple interest. Www aarp org taxaide The rate is subject to change annually and is published in the Federal Register. Www aarp org taxaide    You also can call NMFS at (301) 713-2393 (ext. Www aarp org taxaide 204) to get the current interest rate. Www aarp org taxaide Interest deduction. Www aarp org taxaide   You can deduct the interest you pay on a nonqualified withdrawal as a trade or business expense. Www aarp org taxaide Reporting the additional tax and interest. Www aarp org taxaide   Attach a statement to your income tax return showing your computation of the tax and the interest on a nonqualified withdrawal. Www aarp org taxaide Include the tax and interest on Form 1040, line 63 (for 2005). Www aarp org taxaide To the left of line 63, write in the amount of tax and interest and “CCF. Www aarp org taxaide ” Tax benefit rule. Www aarp org taxaide   If any portion of your nonqualified withdrawal is properly attributable to contributions (not earnings on the contributions) you made to the CCF account that did not reduce your tax liability for any tax year prior to the withdrawal year, the following tax treatment applies. Www aarp org taxaide The part that did not reduce your tax liability for any year prior to the withdrawal year is not taxed. Www aarp org taxaide That part is allowed as a net operating loss deduction. Www aarp org taxaide More Information This section briefly discussed the CCF program. Www aarp org taxaide For more detailed information, see the following legislative authorities. Www aarp org taxaide Section 607 of the Merchant Marine Act of 1936, as amended (46 U. Www aarp org taxaide S. Www aarp org taxaide C. Www aarp org taxaide 1177). Www aarp org taxaide Chapter 2, Part 259 of title 50 of the Code of Federal Regulations (50 C. Www aarp org taxaide F. Www aarp org taxaide R. Www aarp org taxaide , Part 259). Www aarp org taxaide Subchapter A, Part 3 of title 26 of the Code of Federal Regulations (26 C. Www aarp org taxaide F. Www aarp org taxaide R. Www aarp org taxaide , Part 3). Www aarp org taxaide Section 7518 of the Internal Revenue Code (IRC 7518). Www aarp org taxaide The application kit you can obtain from NMFS at the address or phone number given earlier may contain copies of some of these sources of additional information. Www aarp org taxaide Also, see their web page at www. Www aarp org taxaide nmfs. Www aarp org taxaide noaa. Www aarp org taxaide gov/mb/financial_services/ccf. Www aarp org taxaide htm. Www aarp org taxaide How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. Www aarp org taxaide By selecting the method that is best for you, you will have quick and easy access to tax help. Www aarp org taxaide Contacting your Taxpayer Advocate. Www aarp org taxaide   If you have attempted to deal with an IRS problem unsuccessfully, you should contact your Taxpayer Advocate. Www aarp org taxaide   The Taxpayer Advocate independently represents your interests and concerns within the IRS by protecting your rights and resolving problems that have not been fixed through normal channels. Www aarp org taxaide While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted from previous contacts and ensure that your case is given a complete and impartial review. Www aarp org taxaide   To contact your Taxpayer Advocate: Call the Taxpayer Advocate toll free at 1-877-777-4778, Call, write, or fax the Taxpayer Advocate office in your area, Call 1-800-829-4059 if you are a TTY/TDD user, or Visit www. Www aarp org taxaide irs. Www aarp org taxaide gov/advocate. Www aarp org taxaide   For more information, see Publication 1546, How To Get Help With Unresolved Tax Problems (now available in Chinese, Korean, Russian, and Vietnamese, in addition to English and Spanish). Www aarp org taxaide Free tax services. Www aarp org taxaide   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. Www aarp org taxaide It contains a list of free tax publications and an index of tax topics. Www aarp org taxaide It also describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. Www aarp org taxaide Internet. Www aarp org taxaide You can access the IRS website 24 hours a day, 7 days a week, at www. Www aarp org taxaide irs. Www aarp org taxaide gov to: E-file your return. Www aarp org taxaide Find out about commercial tax preparation and e-file services available free to eligible taxpayers. Www aarp org taxaide Check the status of your refund. Www aarp org taxaide Click on Where's My Refund. Www aarp org taxaide Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). Www aarp org taxaide Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. Www aarp org taxaide Download forms, instructions, and publications. Www aarp org taxaide Order IRS products online. Www aarp org taxaide Research your tax questions online. Www aarp org taxaide Search publications online by topic or keyword. Www aarp org taxaide View Internal Revenue Bulletins (IRBs) published in the last few years. Www aarp org taxaide Figure your withholding allowances using our Form W-4 calculator. Www aarp org taxaide Sign up to receive local and national tax news by email. Www aarp org taxaide Get information on starting and operating a small business. Www aarp org taxaide Phone. Www aarp org taxaide Many services are available by phone. Www aarp org taxaide Ordering forms, instructions, and publications. Www aarp org taxaide Call 1-800-829-3676 to order current-year forms, instructions, and publications and prior-year forms and instructions. Www aarp org taxaide You should receive your order within 10 days. Www aarp org taxaide Asking tax questions. Www aarp org taxaide Call the IRS with your tax questions at 1-800-829-1040. Www aarp org taxaide Solving problems. Www aarp org taxaide You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. Www aarp org taxaide An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Www aarp org taxaide Call your local Taxpayer Assistance Center for an appointment. Www aarp org taxaide To find the number, go to www. Www aarp org taxaide irs. Www aarp org taxaide gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Www aarp org taxaide TTY/TDD equipment. Www aarp org taxaide If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. Www aarp org taxaide TeleTax topics. Www aarp org taxaide Call 1-800-829-4477 and press 2 to listen to pre-recorded messages covering various tax topics. Www aarp org taxaide Refund information. Www aarp org taxaide If you would like to check the status of your refund, call 1-800-829-4477 and press 1 for automated refund information and follow the recorded instructions or call 1-800-829-1954. Www aarp org taxaide Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). Www aarp org taxaide Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. Www aarp org taxaide Evaluating the quality of our telephone services. Www aarp org taxaide To ensure that IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. Www aarp org taxaide One method is for a second IRS representative to sometimes listen in on or record telephone calls. Www aarp org taxaide Another is to ask some callers to complete a short survey at the end of the call. Www aarp org taxaide Walk-in. Www aarp org taxaide Many products and services are available on a walk-in basis. Www aarp org taxaide Products. Www aarp org taxaide You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Www aarp org taxaide Some IRS offices, libraries, grocery stores, copy centers, city and county government offices, credit unions, and office supply stores have a collection of products available to print from a CD-ROM or photocopy from reproducible proofs. Www aarp org taxaide Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. Www aarp org taxaide Services. Www aarp org taxaide You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. Www aarp org taxaide An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Www aarp org taxaide If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you're more comfortable talking with someone in person, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative face-to-face. Www aarp org taxaide No appointment is necessary, but if you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. Www aarp org taxaide A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. Www aarp org taxaide To find the number, go to www. Www aarp org taxaide irs. Www aarp org taxaide gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Www aarp org taxaide Mail. Www aarp org taxaide You can send your order for forms, instructions, and publications to the address below and receive a response within 10 business days after your request is received. Www aarp org taxaide National Distribution Center P. Www aarp org taxaide O. Www aarp org taxaide Box 8903 Bloomington, IL 61702-8903 CD-ROM for tax products. Www aarp org taxaide You can order Publication 1796, IRS Tax Products on CD-ROM, and obtain: A CD that is released twice so you have the latest products. Www aarp org taxaide The first release ships in late December and the final release ships in late February. Www aarp org taxaide Current-year forms, instructions, and publications. Www aarp org taxaide Prior-year forms, instructions, and publications. Www aarp org taxaide Tax Map: an electronic research tool and finding aid. Www aarp org taxaide Tax law frequently asked questions (FAQs). Www aarp org taxaide Tax Topics from the IRS telephone response system. Www aarp org taxaide Fill-in, print, and save features for most tax forms. Www aarp org taxaide Internal Revenue Bulletins. Www aarp org taxaide Toll-free and email technical support. Www aarp org taxaide Buy the CD-ROM from National Technical Information Service (NTIS) at www. Www aarp org taxaide irs. Www aarp org taxaide gov/cdorders for $25 (no handling fee) or call 1-877-233-6767 toll free to buy the CD-ROM for $25 (plus a $5 handling fee). Www aarp org taxaide CD-ROM for small businesses. Www aarp org taxaide Publication 3207, Small Business Resource Guide CD-ROM, has a new look and enhanced navigation features. Www aarp org taxaide This CD includes: Helpful information, such as how to prepare a business plan, find financing for your business, and much more. Www aarp org taxaide All the business tax forms, instructions, and publications needed to successfully manage a business. Www aarp org taxaide Tax law changes. Www aarp org taxaide IRS Tax Map to help you find forms, instructions, and publications by searching on a keyword or topic. Www aarp org taxaide Web links to various government agencies, business associations, and IRS organizations. Www aarp org taxaide “Rate the Product” survey—your opportunity to suggest changes for future editions. Www aarp org taxaide An updated version of this CD is available each year in early April. Www aarp org taxaide You can get a free copy by calling 1-800-829-3676 or by visiting www. Www aarp org taxaide irs. Www aarp org taxaide gov/smallbiz. Www aarp org taxaide Prev  Up  Next   Home   More Online Publications