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1040ez 2009 Tax Form

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1040ez 2009 Tax Form

1040ez 2009 tax form Publication 575 - Main Content Table of Contents General InformationPension. 1040ez 2009 tax form Annuity. 1040ez 2009 tax form Qualified employee plan. 1040ez 2009 tax form Qualified employee annuity. 1040ez 2009 tax form Designated Roth account. 1040ez 2009 tax form Tax-sheltered annuity plan. 1040ez 2009 tax form Fixed-period annuities. 1040ez 2009 tax form Annuities for a single life. 1040ez 2009 tax form Joint and survivor annuities. 1040ez 2009 tax form Variable annuities. 1040ez 2009 tax form Disability pensions. 1040ez 2009 tax form Variable Annuities Section 457 Deferred Compensation Plans Disability Pensions Insurance Premiums for Retired Public Safety Officers Railroad Retirement Benefits Withholding Tax and Estimated Tax Cost (Investment in the Contract)Foreign employment contributions while a nonresident alien. 1040ez 2009 tax form Taxation of Periodic PaymentsPeriod of participation. 1040ez 2009 tax form Fully Taxable Payments Partly Taxable Payments Taxation of Nonperiodic PaymentsFiguring the Taxable Amount Loans Treated as Distributions Transfers of Annuity Contracts Lump-Sum Distributions RolloversExceptions. 1040ez 2009 tax form No tax withheld. 1040ez 2009 tax form Partial rollovers. 1040ez 2009 tax form Frozen deposits. 1040ez 2009 tax form Reasonable period of time. 1040ez 2009 tax form 20% Mandatory withholding. 1040ez 2009 tax form How to report. 1040ez 2009 tax form How to report. 1040ez 2009 tax form Special rule for Roth IRAs and designated Roth accounts. 1040ez 2009 tax form Special Additional TaxesTax on Early Distributions Tax on Excess Accumulation Survivors and BeneficiariesGuaranteed payments. 1040ez 2009 tax form How To Get Tax HelpLow Income Taxpayer Clinics General Information Definitions. 1040ez 2009 tax form   Some of the terms used in this publication are defined in the following paragraphs. 1040ez 2009 tax form Pension. 1040ez 2009 tax form   A pension is generally a series of definitely determinable payments made to you after you retire from work. 1040ez 2009 tax form Pension payments are made regularly and are based on such factors as years of service and prior compensation. 1040ez 2009 tax form Annuity. 1040ez 2009 tax form   An annuity is a series of payments under a contract made at regular intervals over a period of more than one full year. 1040ez 2009 tax form They can be either fixed (under which you receive a definite amount) or variable (not fixed). 1040ez 2009 tax form You can buy the contract alone or with the help of your employer. 1040ez 2009 tax form Qualified employee plan. 1040ez 2009 tax form   A qualified employee plan is an employer's stock bonus, pension, or profit-sharing plan that is for the exclusive benefit of employees or their beneficiaries and that meets Internal Revenue Code requirements. 1040ez 2009 tax form It qualifies for special tax benefits, such as tax deferral for employer contributions and capital gain treatment or the 10-year tax option for lump-sum distributions (if participants qualify). 1040ez 2009 tax form To determine whether your plan is a qualified plan, check with your employer or the plan administrator. 1040ez 2009 tax form Qualified employee annuity. 1040ez 2009 tax form   A qualified employee annuity is a retirement annuity purchased by an employer for an employee under a plan that meets Internal Revenue Code requirements. 1040ez 2009 tax form Designated Roth account. 1040ez 2009 tax form   A designated Roth account is a separate account created under a qualified Roth contribution program to which participants may elect to have part or all of their elective deferrals to a 401(k), 403(b), or 457(b) plan designated as Roth contributions. 1040ez 2009 tax form Elective deferrals that are designated as Roth contributions are included in your income. 1040ez 2009 tax form However, qualified distributions (explained later) are not included in your income. 1040ez 2009 tax form You should check with your plan administrator to determine if your plan will accept designated Roth contributions. 1040ez 2009 tax form Tax-sheltered annuity plan. 1040ez 2009 tax form   A tax-sheltered annuity plan (often referred to as a 403(b) plan or a tax-deferred annuity plan) is a retirement plan for employees of public schools and certain tax-exempt organizations. 1040ez 2009 tax form Generally, a tax-sheltered annuity plan provides retirement benefits by purchasing annuity contracts for its participants. 1040ez 2009 tax form Types of pensions and annuities. 1040ez 2009 tax form   Pensions and annuities include the following types. 1040ez 2009 tax form Fixed-period annuities. 1040ez 2009 tax form   You receive definite amounts at regular intervals for a specified length of time. 1040ez 2009 tax form Annuities for a single life. 1040ez 2009 tax form   You receive definite amounts at regular intervals for life. 1040ez 2009 tax form The payments end at death. 1040ez 2009 tax form Joint and survivor annuities. 1040ez 2009 tax form   The first annuitant receives a definite amount at regular intervals for life. 1040ez 2009 tax form After he or she dies, a second annuitant receives a definite amount at regular intervals for life. 1040ez 2009 tax form The amount paid to the second annuitant may or may not differ from the amount paid to the first annuitant. 1040ez 2009 tax form Variable annuities. 1040ez 2009 tax form   You receive payments that may vary in amount for a specified length of time or for life. 1040ez 2009 tax form The amounts you receive may depend upon such variables as profits earned by the pension or annuity funds, cost-of-living indexes, or earnings from a mutual fund. 1040ez 2009 tax form Disability pensions. 1040ez 2009 tax form   You receive disability payments because you retired on disability and have not reached minimum retirement age. 1040ez 2009 tax form More than one program. 1040ez 2009 tax form   You may receive employee plan benefits from more than one program under a single trust or plan of your employer. 1040ez 2009 tax form If you participate in more than one program, you may have to treat each as a separate pension or annuity contract, depending upon the facts in each case. 1040ez 2009 tax form Also, you may be considered to have received more than one pension or annuity. 1040ez 2009 tax form Your former employer or the plan administrator should be able to tell you if you have more than one contract. 1040ez 2009 tax form Example. 1040ez 2009 tax form Your employer set up a noncontributory profit-sharing plan for its employees. 1040ez 2009 tax form The plan provides that the amount held in the account of each participant will be paid when that participant retires. 1040ez 2009 tax form Your employer also set up a contributory defined benefit pension plan for its employees providing for the payment of a lifetime pension to each participant after retirement. 1040ez 2009 tax form The amount of any distribution from the profit-sharing plan depends on the contributions (including allocated forfeitures) made for the participant and the earnings from those contributions. 1040ez 2009 tax form Under the pension plan, however, a formula determines the amount of the pension benefits. 1040ez 2009 tax form The amount of contributions is the amount necessary to provide that pension. 1040ez 2009 tax form Each plan is a separate program and a separate contract. 1040ez 2009 tax form If you get benefits from these plans, you must account for each separately, even though the benefits from both may be included in the same check. 1040ez 2009 tax form Distributions from a designated Roth account are treated separately from other distributions from the plan. 1040ez 2009 tax form Qualified domestic relations order (QDRO). 1040ez 2009 tax form   A QDRO is a judgment, decree, or order relating to payment of child support, alimony, or marital property rights to a spouse, former spouse, child, or other dependent of a participant in a retirement plan. 1040ez 2009 tax form The QDRO must contain certain specific information, such as the name and last known mailing address of the participant and each alternate payee, and the amount or percentage of the participant's benefits to be paid to each alternate payee. 1040ez 2009 tax form A QDRO may not award an amount or form of benefit that is not available under the plan. 1040ez 2009 tax form   A spouse or former spouse who receives part of the benefits from a retirement plan under a QDRO reports the payments received as if he or she were a plan participant. 1040ez 2009 tax form The spouse or former spouse is allocated a share of the participant's cost (investment in the contract) equal to the cost times a fraction. 1040ez 2009 tax form The numerator of the fraction is the present value of the benefits payable to the spouse or former spouse. 1040ez 2009 tax form The denominator is the present value of all benefits payable to the participant. 1040ez 2009 tax form   A distribution that is paid to a child or other dependent under a QDRO is taxed to the plan participant. 1040ez 2009 tax form Variable Annuities The tax rules in this publication apply both to annuities that provide fixed payments and to annuities that provide payments that vary in amount based on investment results or other factors. 1040ez 2009 tax form For example, they apply to commercial variable annuity contracts, whether bought by an employee retirement plan for its participants or bought directly from the issuer by an individual investor. 1040ez 2009 tax form Under these contracts, the owner can generally allocate the purchase payments among several types of investment portfolios or mutual funds and the contract value is determined by the performance of those investments. 1040ez 2009 tax form The earnings are not taxed until distributed either in a withdrawal or in annuity payments. 1040ez 2009 tax form The taxable part of a distribution is treated as ordinary income. 1040ez 2009 tax form Net investment income tax. 1040ez 2009 tax form   Beginning in 2013, annuities under a nonqualified plan are included in calculating your net investment income for the net investment income tax (NIIT). 1040ez 2009 tax form For information see the Instructions for Form 8960, Net Investment Income Tax — Individuals, Estates and Trusts. 1040ez 2009 tax form For information on the tax treatment of a transfer or exchange of a variable annuity contract, see Transfers of Annuity Contracts under Taxation of Nonperiodic Payments, later. 1040ez 2009 tax form Withdrawals. 1040ez 2009 tax form   If you withdraw funds before your annuity starting date and your annuity is under a qualified retirement plan, a ratable part of the amount withdrawn is tax free. 1040ez 2009 tax form The tax-free part is based on the ratio of your cost (investment in the contract) to your account balance under the plan. 1040ez 2009 tax form   If your annuity is under a nonqualified plan (including a contract you bought directly from the issuer), the amount withdrawn is allocated first to earnings (the taxable part) and then to your cost (the tax-free part). 1040ez 2009 tax form However, if you bought your annuity contract before August 14, 1982, a different allocation applies to the investment before that date and the earnings on that investment. 1040ez 2009 tax form To the extent the amount withdrawn does not exceed that investment and earnings, it is allocated first to your cost (the tax-free part) and then to earnings (the taxable part). 1040ez 2009 tax form   If you withdraw funds (other than as an annuity) on or after your annuity starting date, the entire amount withdrawn is generally taxable. 1040ez 2009 tax form   The amount you receive in a full surrender of your annuity contract at any time is tax free to the extent of any cost that you have not previously recovered tax free. 1040ez 2009 tax form The rest is taxable. 1040ez 2009 tax form   For more information on the tax treatment of withdrawals, see Taxation of Nonperiodic Payments , later. 1040ez 2009 tax form If you withdraw funds from your annuity before you reach age 59½, also see Tax on Early Distributions under Special Additional Taxes, later. 1040ez 2009 tax form Annuity payments. 1040ez 2009 tax form   If you receive annuity payments under a variable annuity plan or contract, you recover your cost tax free under either the Simplified Method or the General Rule, as explained under Taxation of Periodic Payments , later. 1040ez 2009 tax form For a variable annuity paid under a qualified plan, you generally must use the Simplified Method. 1040ez 2009 tax form For a variable annuity paid under a nonqualified plan (including a contract you bought directly from the issuer), you must use a special computation under the General Rule. 1040ez 2009 tax form For more information, see Variable annuities in Publication 939 under Computation Under the General Rule. 1040ez 2009 tax form Death benefits. 1040ez 2009 tax form    If you receive a single-sum distribution from a variable annuity contract because of the death of the owner or annuitant, the distribution is generally taxable only to the extent it is more than the unrecovered cost of the contract. 1040ez 2009 tax form If you choose to receive an annuity, the payments are subject to tax as described above. 1040ez 2009 tax form If the contract provides a joint and survivor annuity and the primary annuitant had received annuity payments before death, you figure the tax-free part of annuity payments you receive as the survivor in the same way the primary annuitant did. 1040ez 2009 tax form See Survivors and Beneficiaries , later. 1040ez 2009 tax form Section 457 Deferred Compensation Plans If you work for a state or local government or for a tax-exempt organization, you may be able to participate in a section 457 deferred compensation plan. 1040ez 2009 tax form If your plan is an eligible plan, you are not taxed currently on pay that is deferred under the plan or on any earnings from the plan's investment of the deferred pay. 1040ez 2009 tax form You are generally taxed on amounts deferred in an eligible state or local government plan only when they are distributed from the plan. 1040ez 2009 tax form You are taxed on amounts deferred in an eligible tax-exempt organization plan when they are distributed or otherwise made available to you. 1040ez 2009 tax form Your 457(b) plan may have a designated Roth account option. 1040ez 2009 tax form If so, you may be able to roll over amounts to the designated Roth account or make contributions. 1040ez 2009 tax form Elective deferrals to a designated Roth account are included in your income. 1040ez 2009 tax form Qualified distributions (explained later) are not included in your income. 1040ez 2009 tax form See the Designated Roth accounts discussion under Taxation of Periodic Payments, later. 1040ez 2009 tax form This publication covers the tax treatment of benefits under eligible section 457 plans, but it does not cover the treatment of deferrals. 1040ez 2009 tax form For information on deferrals under section 457 plans, see Retirement Plan Contributions under Employee Compensation in Publication 525. 1040ez 2009 tax form Is your plan eligible?   To find out if your plan is an eligible plan, check with your employer. 1040ez 2009 tax form Plans that are not eligible section 457 plans include the following: Bona fide vacation leave, sick leave, compensatory time, severance pay, disability pay, or death benefit plans. 1040ez 2009 tax form Nonelective deferred compensation plans for nonemployees (independent contractors). 1040ez 2009 tax form Deferred compensation plans maintained by churches. 1040ez 2009 tax form Length of service award plans for bona fide volunteer firefighters and emergency medical personnel. 1040ez 2009 tax form An exception applies if the total amount paid to a volunteer exceeds $3,000 for any year of service. 1040ez 2009 tax form Disability Pensions If you retired on disability, you generally must include in income any disability pension you receive under a plan that is paid for by your employer. 1040ez 2009 tax form You must report your taxable disability payments as wages on line 7 of Form 1040 or Form 1040A or on line 8 of Form 1040NR until you reach minimum retirement age. 1040ez 2009 tax form Minimum retirement age generally is the age at which you can first receive a pension or annuity if you are not disabled. 1040ez 2009 tax form You may be entitled to a tax credit if you were permanently and totally disabled when you retired. 1040ez 2009 tax form For information on this credit, see Publication 524. 1040ez 2009 tax form Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension or annuity. 1040ez 2009 tax form Report the payments on Form 1040, lines 16a and 16b; Form 1040A, lines 12a and 12b; or on Form 1040NR, lines 17a and 17b. 1040ez 2009 tax form Disability payments for injuries incurred as a direct result of a terrorist attack directed against the United States (or its allies) are not included in income. 1040ez 2009 tax form For more information about payments to survivors of terrorist attacks, see Publication 3920, Tax Relief for Victims of Terrorist Attacks. 1040ez 2009 tax form Insurance Premiums for Retired Public Safety Officers If you are an eligible retired public safety officer (law enforcement officer, firefighter, chaplain, or member of a rescue squad or ambulance crew), you can elect to exclude from income distributions made from your eligible retirement plan that are used to pay the premiums for accident or health insurance or long-term care insurance. 1040ez 2009 tax form The premiums can be for coverage for you, your spouse, or dependents. 1040ez 2009 tax form The distribution must be made directly from the plan to the insurance provider. 1040ez 2009 tax form You can exclude from income the smaller of the amount of the insurance premiums or $3,000. 1040ez 2009 tax form You can only make this election for amounts that would otherwise be included in your income. 1040ez 2009 tax form The amount excluded from your income cannot be used to claim a medical expense deduction. 1040ez 2009 tax form An eligible retirement plan is a governmental plan that is: a qualified trust, a section 403(a) plan, a section 403(b) annuity, or a section 457(b) plan. 1040ez 2009 tax form If you make this election, reduce the otherwise taxable amount of your pension or annuity by the amount excluded. 1040ez 2009 tax form The amount shown in box 2a of Form 1099-R does not reflect this exclusion. 1040ez 2009 tax form Report your total distributions on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. 1040ez 2009 tax form Report the taxable amount on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. 1040ez 2009 tax form Enter “PSO” next to the appropriate line on which you report the taxable amount. 1040ez 2009 tax form If you are retired on disability and reporting your disability pension on line 7 of Form 1040 or Form 1040A, or line 8 of Form 1040NR, include only the taxable amount on that line and enter “PSO” and the amount excluded on the dotted line next to the applicable line. 1040ez 2009 tax form Railroad Retirement Benefits Benefits paid under the Railroad Retirement Act fall into two categories. 1040ez 2009 tax form These categories are treated differently for income tax purposes. 1040ez 2009 tax form The first category is the amount of tier 1 railroad retirement benefits that equals the social security benefit that a railroad employee or beneficiary would have been entitled to receive under the social security system. 1040ez 2009 tax form This part of the tier 1 benefit is the social security equivalent benefit (SSEB) and you treat it for tax purposes like social security benefits. 1040ez 2009 tax form If you received, repaid, or had tax withheld from the SSEB portion of tier 1 benefits during 2013, you will receive Form RRB-1099, Payments by the Railroad Retirement Board (or Form RRB-1042S, Statement for Nonresident Alien Recipients of Payments by the Railroad Retirement Board, if you are a nonresident alien) from the U. 1040ez 2009 tax form S. 1040ez 2009 tax form Railroad Retirement Board (RRB). 1040ez 2009 tax form For more information about the tax treatment of the SSEB portion of tier 1 benefits and Forms RRB-1099 and RRB-1042S, see Publication 915. 1040ez 2009 tax form The second category contains the rest of the tier 1 railroad retirement benefits, called the non-social security equivalent benefit (NSSEB). 1040ez 2009 tax form It also contains any tier 2 benefit, vested dual benefit (VDB), and supplemental annuity benefit. 1040ez 2009 tax form Treat this category of benefits, shown on Form RRB-1099-R, as an amount received from a qualified employee plan. 1040ez 2009 tax form This allows for the tax-free (nontaxable) recovery of employee contributions from the tier 2 benefits and the NSSEB part of the tier 1 benefits. 1040ez 2009 tax form (The NSSEB and tier 2 benefits, less certain repayments, are combined into one amount called the Contributory Amount Paid on Form RRB-1099-R. 1040ez 2009 tax form ) Vested dual benefits and supplemental annuity benefits are non-contributory pensions and are fully taxable. 1040ez 2009 tax form See Taxation of Periodic Payments , later, for information on how to report your benefits and how to recover the employee contributions tax free. 1040ez 2009 tax form Form RRB-1099-R is used for U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizens, resident aliens, and nonresident aliens. 1040ez 2009 tax form Nonresident aliens. 1040ez 2009 tax form   A nonresident alien is an individual who is not a citizen or a resident alien of the United States. 1040ez 2009 tax form Nonresident aliens are subject to mandatory U. 1040ez 2009 tax form S. 1040ez 2009 tax form tax withholding unless exempt under a tax treaty between the United States and their country of legal residency. 1040ez 2009 tax form A tax treaty exemption may reduce or eliminate tax withholding from railroad retirement benefits. 1040ez 2009 tax form See Tax withholding next for more information. 1040ez 2009 tax form   If you are a nonresident alien and your tax withholding rate changed or your country of legal residence changed during the year, you may receive more than one Form RRB-1042S or Form RRB-1099-R. 1040ez 2009 tax form To determine your total benefits paid or repaid and total tax withheld for the year, you should add the amounts shown on all forms you received for that year. 1040ez 2009 tax form For information on filing requirements for aliens, see Publication 519, U. 1040ez 2009 tax form S. 1040ez 2009 tax form Tax Guide for Aliens. 1040ez 2009 tax form For information on tax treaties between the United States and other countries that may reduce or eliminate U. 1040ez 2009 tax form S. 1040ez 2009 tax form tax on your benefits, see Publication 901, U. 1040ez 2009 tax form S. 1040ez 2009 tax form Tax Treaties. 1040ez 2009 tax form Tax withholding. 1040ez 2009 tax form   To request or change your income tax withholding from SSEB payments, U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizens should contact the IRS for Form W-4V, Voluntary Withholding Request, and file it with the RRB. 1040ez 2009 tax form To elect, revoke, or change your income tax withholding from NSSEB, tier 2, VDB, and supplemental annuity payments received, use Form RRB W-4P, Withholding Certificate for Railroad Retirement Payments. 1040ez 2009 tax form If you are a nonresident alien or a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen living abroad, you should provide Form RRB-1001, Nonresident Questionnaire, to the RRB to furnish citizenship and residency information and to claim any treaty exemption from U. 1040ez 2009 tax form S. 1040ez 2009 tax form tax withholding. 1040ez 2009 tax form Nonresident U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizens cannot elect to be exempt from withholding on payments delivered outside of the U. 1040ez 2009 tax form S. 1040ez 2009 tax form Help from the RRB. 1040ez 2009 tax form   To request an RRB form or to get help with questions about an RRB benefit, you should contact your nearest RRB field office if you reside in the United States (call 1-877-772-5772 for the nearest field office) or U. 1040ez 2009 tax form S. 1040ez 2009 tax form consulate/Embassy if you reside outside the United States. 1040ez 2009 tax form You can visit the RRB on the Internet at www. 1040ez 2009 tax form rrb. 1040ez 2009 tax form gov. 1040ez 2009 tax form Form RRB-1099-R. 1040ez 2009 tax form   The following discussion explains the items shown on Form RRB-1099-R. 1040ez 2009 tax form The amounts shown on this form are before any deduction for: Federal income tax withholding, Medicare premiums, Legal process garnishment payments, Recovery of a prior year overpayment of an NSSEB, tier 2 benefit, VDB, or supplemental annuity benefit, or Recovery of Railroad Unemployment Insurance Act benefits received while awaiting payment of your railroad retirement annuity. 1040ez 2009 tax form   The amounts shown on this form are after any offset for: Social Security benefits, Age reduction, Public Service pensions or public disability benefits, Dual railroad retirement entitlement under another RRB claim number, Work deductions, Legal process partition deductions, Actuarial adjustment, Annuity waiver, or Recovery of a current-year overpayment of NSSEB, tier 2, VDB, or supplemental annuity benefits. 1040ez 2009 tax form   The amounts shown on Form RRB-1099-R do not reflect any special rules, such as capital gain treatment or the special 10-year tax option for lump-sum payments, or tax-free rollovers. 1040ez 2009 tax form To determine if any of these rules apply to your benefits, see the discussions about them later. 1040ez 2009 tax form   Generally, amounts shown on your Form RRB-1099-R are considered a normal distribution. 1040ez 2009 tax form Use distribution code “7” if you are asked for a distribution code. 1040ez 2009 tax form Distribution codes are not shown on Form RRB-1099-R. 1040ez 2009 tax form   There are three copies of this form. 1040ez 2009 tax form Copy B is to be included with your income tax return if federal income tax is withheld. 1040ez 2009 tax form Copy C is for your own records. 1040ez 2009 tax form Copy 2 is filed with your state, city, or local income tax return, when required. 1040ez 2009 tax form See the illustrated Copy B (Form RRB-1099-R) above. 1040ez 2009 tax form       Each beneficiary will receive his or her own Form RRB-1099-R. 1040ez 2009 tax form If you receive benefits on more than one railroad retirement record, you may get more than one Form RRB-1099-R. 1040ez 2009 tax form So that you get your form timely, make sure the RRB always has your current mailing address. 1040ez 2009 tax form Please click here for the text description of the image. 1040ez 2009 tax form Form RRB-1099-R Box 1—Claim Number and Payee Code. 1040ez 2009 tax form   Your claim number is a six- or nine-digit number preceded by an alphabetical prefix. 1040ez 2009 tax form This is the number under which the RRB paid your benefits. 1040ez 2009 tax form Your payee code follows your claim number and is the last number in this box. 1040ez 2009 tax form It is used by the RRB to identify you under your claim number. 1040ez 2009 tax form In all your correspondence with the RRB, be sure to use the claim number and payee code shown in this box. 1040ez 2009 tax form Box 2—Recipient's Identification Number. 1040ez 2009 tax form   This is the recipient's U. 1040ez 2009 tax form S. 1040ez 2009 tax form taxpayer identification number. 1040ez 2009 tax form It is the social security number (SSN), individual taxpayer identification number (ITIN), or employer identification number (EIN), if known, for the person or estate listed as the recipient. 1040ez 2009 tax form If you are a resident or nonresident alien who must furnish a taxpayer identification number to the IRS and are not eligible to obtain an SSN, use Form W-7, Application for IRS Individual Taxpayer Identification Number, to apply for an ITIN. 1040ez 2009 tax form The Instructions for Form W-7 explain how and when to apply. 1040ez 2009 tax form Box 3—Employee Contributions. 1040ez 2009 tax form   This is the amount of taxes withheld from the railroad employee's earnings that exceeds the amount of taxes that would have been withheld had the earnings been covered under the social security system. 1040ez 2009 tax form This amount is the employee's cost that you use to figure the tax-free part of the NSSEB and tier 2 benefit you received (the amount shown in box 4). 1040ez 2009 tax form (For information on how to figure the tax-free part, see Partly Taxable Payments under Taxation of Periodic Payments, later. 1040ez 2009 tax form ) The amount shown is the total employee contribution amount, not reduced by any amounts that the RRB calculated as previously recovered. 1040ez 2009 tax form It is the latest amount reported for 2013 and may have increased or decreased from a previous Form RRB-1099-R. 1040ez 2009 tax form If this amount has changed, the change is retroactive. 1040ez 2009 tax form You may need to refigure the tax-free part of your NSSEB/tier 2 benefit for 2013 and prior tax years. 1040ez 2009 tax form If this box is blank, it means that the amount of your NSSEB and tier 2 payments shown in box 4 is fully taxable. 1040ez 2009 tax form    If you had a previous annuity entitlement that ended and you are figuring the tax-free part of your NSSEB/tier 2 benefit for your current annuity entitlement, you should contact the RRB for confirmation of your correct employee contribution amount. 1040ez 2009 tax form Box 4—Contributory Amount Paid. 1040ez 2009 tax form   This is the gross amount of the NSSEB and tier 2 benefit you received in 2013, less any 2013 benefits you repaid in 2013. 1040ez 2009 tax form (Any benefits you repaid in 2013 for an earlier year or for an unknown year are shown in box 8. 1040ez 2009 tax form ) This amount is the total contributory pension paid in 2013. 1040ez 2009 tax form It may be partly taxable and partly tax free or fully taxable. 1040ez 2009 tax form If you determine you are eligible to compute a tax-free part as explained later in Partly Taxable Payments under Taxation of Periodic Payments, use the latest reported employee contribution amount shown in box 3 as the cost. 1040ez 2009 tax form Box 5—Vested Dual Benefit. 1040ez 2009 tax form   This is the gross amount of vested dual benefit (VDB) payments paid in 2013, less any 2013 VDB payments you repaid in 2013. 1040ez 2009 tax form It is fully taxable. 1040ez 2009 tax form VDB payments you repaid in 2013 for an earlier year or for an unknown year are shown in box 8. 1040ez 2009 tax form Note. 1040ez 2009 tax form The amounts shown in boxes 4 and 5 may represent payments for 2013 and/or other years after 1983. 1040ez 2009 tax form Box 6—Supplemental Annuity. 1040ez 2009 tax form   This is the gross amount of supplemental annuity benefits paid in 2013, less any 2013 supplemental annuity benefits you repaid in 2013. 1040ez 2009 tax form It is fully taxable. 1040ez 2009 tax form Supplemental annuity benefits you repaid in 2013 for an earlier year or for an unknown year are shown in box 8. 1040ez 2009 tax form Box 7—Total Gross Paid. 1040ez 2009 tax form   This is the sum of boxes 4, 5, and 6. 1040ez 2009 tax form The amount represents the total pension paid in 2013. 1040ez 2009 tax form Include this amount on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. 1040ez 2009 tax form Box 8—Repayments. 1040ez 2009 tax form   This amount represents any NSSEB, tier 2 benefit, VDB, and supplemental annuity benefit you repaid to the RRB in 2013 for years before 2013 or for unknown years. 1040ez 2009 tax form The amount shown in this box has not been deducted from the amounts shown in boxes 4, 5, and 6. 1040ez 2009 tax form It only includes repayments of benefits that were taxable to you. 1040ez 2009 tax form This means it only includes repayments in 2013 of NSSEB benefits paid after 1985, tier 2 and VDB benefits paid after 1983, and supplemental annuity benefits paid in any year. 1040ez 2009 tax form If you included the benefits in your income in the year you received them, you may be able to deduct the repaid amount. 1040ez 2009 tax form For more information about repayments, see Repayment of benefits received in an earlier year , later. 1040ez 2009 tax form    You may have repaid an overpayment of benefits by returning a payment, by making a payment, or by having an amount withheld from your railroad retirement annuity payment. 1040ez 2009 tax form Box 9—Federal Income Tax Withheld. 1040ez 2009 tax form   This is the total federal income tax withheld from your NSSEB, tier 2 benefit, VDB, and supplemental annuity benefit. 1040ez 2009 tax form Include this on your income tax return as tax withheld. 1040ez 2009 tax form If you are a nonresident alien and your tax withholding rate and/or country of legal residence changed during 2013, you will receive more than one Form RRB-1099-R for 2013. 1040ez 2009 tax form Determine the total amount of U. 1040ez 2009 tax form S. 1040ez 2009 tax form federal income tax withheld from your 2013 RRB NSSEB, tier 2, VDB, and supplemental annuity payments by adding the amounts in box 9 of all original 2013 Forms RRB-1099-R, or the latest corrected or duplicate Forms RRB-1099-R you receive. 1040ez 2009 tax form Box 10—Rate of Tax. 1040ez 2009 tax form   If you are taxed as a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen or resident alien, this box does not apply to you. 1040ez 2009 tax form If you are a nonresident alien, an entry in this box indicates the rate at which tax was withheld on the NSSEB, tier 2, VDB, and supplemental annuity payments that were paid to you in 2013. 1040ez 2009 tax form If you are a nonresident alien whose tax was withheld at more than one rate during 2013, you will receive a separate Form RRB-1099-R for each rate change during 2013. 1040ez 2009 tax form Box 11—Country. 1040ez 2009 tax form   If you are taxed as a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen or resident alien, this box does not apply to you. 1040ez 2009 tax form If you are a nonresident alien, an entry in this box indicates the country of which you were a resident for tax purposes at the time you received railroad retirement payments in 2013. 1040ez 2009 tax form If you are a nonresident alien who was a resident of more than one country during 2013, you will receive a separate Form RRB-1099-R for each country of residence during 2013. 1040ez 2009 tax form Box 12—Medicare Premium Total. 1040ez 2009 tax form   This is for information purposes only. 1040ez 2009 tax form The amount shown in this box represents the total amount of Part B Medicare premiums deducted from your railroad retirement annuity payments in 2013. 1040ez 2009 tax form Medicare premium refunds are not included in the Medicare total. 1040ez 2009 tax form The Medicare total is normally shown on Form RRB-1099 (if you are a citizen or resident alien of the United States) or Form RRB-1042S (if you are a nonresident alien). 1040ez 2009 tax form However, if Form RRB-1099 or Form RRB-1042S is not required for 2013, then this total will be shown on Form RRB-1099-R. 1040ez 2009 tax form If your Medicare premiums were deducted from your social security benefits, paid by a third party, refunded to you, and/or you paid the premiums by direct billing, your Medicare total will not be shown in this box. 1040ez 2009 tax form Repayment of benefits received in an earlier year. 1040ez 2009 tax form   If you had to repay any railroad retirement benefits that you had included in your income in an earlier year because at that time you thought you had an unrestricted right to it, you can deduct the amount you repaid in the year in which you repaid it. 1040ez 2009 tax form   If you repaid $3,000 or less in 2013, deduct it on Schedule A (Form 1040), line 23. 1040ez 2009 tax form The 2%-of-adjusted-gross-income limit applies to this deduction. 1040ez 2009 tax form You cannot take this deduction if you file Form 1040A. 1040ez 2009 tax form    If you repaid more than $3,000 in 2013, you can either take a deduction for the amount repaid on Schedule A (Form 1040), line 28 or you can take a credit against your tax. 1040ez 2009 tax form For more information, see Repayments in Publication 525. 1040ez 2009 tax form Withholding Tax and Estimated Tax Your retirement plan distributions are subject to federal income tax withholding. 1040ez 2009 tax form However, you can choose not to have tax withheld on payments you receive unless they are eligible rollover distributions. 1040ez 2009 tax form (These are distributions, described later under Rollovers, that are eligible for rollover treatment but are not paid directly to another qualified retirement plan or to a traditional IRA. 1040ez 2009 tax form ) If you choose not to have tax withheld or if you do not have enough tax withheld, you may have to make estimated tax payments. 1040ez 2009 tax form See Estimated tax , later. 1040ez 2009 tax form The withholding rules apply to the taxable part of payments you receive from: An employer pension, annuity, profit-sharing, or stock bonus plan, Any other deferred compensation plan, A traditional individual retirement arrangement (IRA), or A commercial annuity. 1040ez 2009 tax form For this purpose, a commercial annuity means an annuity, endowment, or life insurance contract issued by an insurance company. 1040ez 2009 tax form There will be no withholding on any part of a distribution where it is reasonable to believe that it will not be includible in gross income. 1040ez 2009 tax form Choosing no withholding. 1040ez 2009 tax form   You can choose not to have income tax withheld from retirement plan payments unless they are eligible rollover distributions. 1040ez 2009 tax form You can make this choice on Form W-4P for periodic and nonperiodic payments. 1040ez 2009 tax form This choice generally remains in effect until you revoke it. 1040ez 2009 tax form   The payer will ignore your choice not to have tax withheld if: You do not give the payer your social security number (in the required manner), or The IRS notifies the payer, before the payment is made, that you gave an incorrect social security number. 1040ez 2009 tax form   To choose not to have tax withheld, a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen or resident alien must give the payer a home address in the United States or its possessions. 1040ez 2009 tax form Without that address, the payer must withhold tax. 1040ez 2009 tax form For example, the payer has to withhold tax if the recipient has provided a U. 1040ez 2009 tax form S. 1040ez 2009 tax form address for a nominee, trustee, or agent to whom the benefits are delivered, but has not provided his or her own U. 1040ez 2009 tax form S. 1040ez 2009 tax form home address. 1040ez 2009 tax form   If you do not give the payer a home address in the United States or its possessions, you can choose not to have tax withheld only if you certify to the payer that you are not a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen, a U. 1040ez 2009 tax form S. 1040ez 2009 tax form resident alien, or someone who left the country to avoid tax. 1040ez 2009 tax form But if you so certify, you may be subject to the 30% flat rate withholding that applies to nonresident aliens. 1040ez 2009 tax form This 30% rate will not apply if you are exempt or subject to a reduced rate by treaty. 1040ez 2009 tax form For details, get Publication 519. 1040ez 2009 tax form Periodic payments. 1040ez 2009 tax form   Unless you choose no withholding, your annuity or similar periodic payments (other than eligible rollover distributions) will be treated like wages for withholding purposes. 1040ez 2009 tax form Periodic payments are amounts paid at regular intervals (such as weekly, monthly, or yearly) for a period of time greater than one year (such as for 15 years or for life). 1040ez 2009 tax form You should give the payer a completed withholding certificate (Form W-4P or a similar form provided by the payer). 1040ez 2009 tax form If you do not, tax will be withheld as if you were married and claiming three withholding allowances. 1040ez 2009 tax form   Tax will be withheld as if you were single and were claiming no withholding allowances if: You do not give the payer your social security number (in the required manner), or The IRS notifies the payer (before any payment is made) that you gave an incorrect social security number. 1040ez 2009 tax form   You must file a new withholding certificate to change the amount of withholding. 1040ez 2009 tax form Nonperiodic distributions. 1040ez 2009 tax form    Unless you choose no withholding, the withholding rate for a nonperiodic distribution (a payment other than a periodic payment) that is not an eligible rollover distribution is 10% of the distribution. 1040ez 2009 tax form You can also ask the payer to withhold an additional amount using Form W-4P. 1040ez 2009 tax form The part of any loan treated as a distribution (except an offset amount to repay the loan), explained later, is subject to withholding under this rule. 1040ez 2009 tax form Eligible rollover distribution. 1040ez 2009 tax form    If you receive an eligible rollover distribution, 20% of it generally will be withheld for income tax. 1040ez 2009 tax form You cannot choose not to have tax withheld from an eligible rollover distribution. 1040ez 2009 tax form However, tax will not be withheld if you have the plan administrator pay the eligible rollover distribution directly to another qualified plan or an IRA in a direct rollover. 1040ez 2009 tax form For more information about eligible rollover distributions, see Rollovers , later. 1040ez 2009 tax form Estimated tax. 1040ez 2009 tax form   Your estimated tax is the total of your expected income tax, self-employment tax, and certain other taxes for the year, minus your expected credits and withheld tax. 1040ez 2009 tax form Generally, you must make estimated tax payments for 2014 if you expect to owe at least $1,000 in tax (after subtracting your withholding and credits) and you expect your withholding and credits to be less than the smaller of: 90% of the tax to be shown on your 2014 return, or 100% of the tax shown on your 2013 return. 1040ez 2009 tax form If your adjusted gross income for 2013 was more than $150,000 ($75,000 if your filing status for 2014 is married filing separately), substitute 110% for 100% in (2) above. 1040ez 2009 tax form For more information, get Publication 505, Tax Withholding and Estimated Tax. 1040ez 2009 tax form In figuring your withholding or estimated tax, remember that a part of your monthly social security or equivalent tier 1 railroad retirement benefits may be taxable. 1040ez 2009 tax form See Publication 915. 1040ez 2009 tax form You can choose to have income tax withheld from those benefits. 1040ez 2009 tax form Use Form W-4V to make this choice. 1040ez 2009 tax form Cost (Investment in the Contract) Distributions from your pension or annuity plan may include amounts treated as a recovery of your cost (investment in the contract). 1040ez 2009 tax form If any part of a distribution is treated as a recovery of your cost under the rules explained in this publication, that part is tax free. 1040ez 2009 tax form Therefore, the first step in figuring how much of a distribution is taxable is to determine the cost of your pension or annuity. 1040ez 2009 tax form In general, your cost is your net investment in the contract as of the annuity starting date (or the date of the distribution, if earlier). 1040ez 2009 tax form To find this amount, you must first figure the total premiums, contributions, or other amounts you paid. 1040ez 2009 tax form This includes the amounts your employer contributed that were taxable to you when paid. 1040ez 2009 tax form (However, see Foreign employment contributions , later. 1040ez 2009 tax form ) It does not include amounts withheld from your pay on a tax-deferred basis (money that was taken out of your gross pay before taxes were deducted). 1040ez 2009 tax form It also does not include amounts you contributed for health and accident benefits (including any additional premiums paid for double indemnity or disability benefits). 1040ez 2009 tax form From this total cost you must subtract the following amounts. 1040ez 2009 tax form Any refunded premiums, rebates, dividends, or unrepaid loans that were not included in your income and that you received by the later of the annuity starting date or the date on which you received your first payment. 1040ez 2009 tax form Any other tax-free amounts you received under the contract or plan by the later of the dates in (1). 1040ez 2009 tax form If you must use the Simplified Method for your annuity payments, the tax-free part of any single-sum payment received in connection with the start of the annuity payments, regardless of when you received it. 1040ez 2009 tax form (See Simplified Method , later, for information on its required use. 1040ez 2009 tax form ) If you use the General Rule for your annuity payments, the value of the refund feature in your annuity contract. 1040ez 2009 tax form (See General Rule , later, for information on its use. 1040ez 2009 tax form ) Your annuity contract has a refund feature if the annuity payments are for your life (or the lives of you and your survivor) and payments in the nature of a refund of the annuity's cost will be made to your beneficiary or estate if all annuitants die before a stated amount or a stated number of payments are made. 1040ez 2009 tax form For more information, see Publication 939. 1040ez 2009 tax form The tax treatment of the items described in (1) through (3) is discussed later under Taxation of Nonperiodic Payments . 1040ez 2009 tax form Form 1099-R. 1040ez 2009 tax form If you began receiving periodic payments of a life annuity in 2013, the payer should show your total contributions to the plan in box 9b of your 2013 Form 1099-R. 1040ez 2009 tax form Annuity starting date defined. 1040ez 2009 tax form   Your annuity starting date is the later of the first day of the first period for which you received a payment or the date the plan's obligations became fixed. 1040ez 2009 tax form Example. 1040ez 2009 tax form On January 1, you completed all your payments required under an annuity contract providing for monthly payments starting on August 1 for the period beginning July 1. 1040ez 2009 tax form The annuity starting date is July 1. 1040ez 2009 tax form This is the date you use in figuring the cost of the contract and selecting the appropriate number from Table 1 for line 3 of the Simplified Method Worksheet. 1040ez 2009 tax form Designated Roth accounts. 1040ez 2009 tax form   Your cost in these accounts is your designated Roth contributions that were included in your income as wages subject to applicable withholding requirements. 1040ez 2009 tax form Your cost will also include any in-plan Roth rollovers you included in income. 1040ez 2009 tax form Foreign employment contributions. 1040ez 2009 tax form   If you worked abroad, your cost may include contributions by your employer to the retirement plan, but only if those contributions would be excludible from your gross income had they been paid directly to you as compensation. 1040ez 2009 tax form The contributions that apply are: Contributions before 1963 by your employer, Contributions after 1962 by your employer if the contributions would be excludible from your gross income (not including the foreign earned income exclusion) had they been paid directly to you, or Contributions after 1996 by your employer if you performed the services of a foreign missionary (a duly ordained, commissioned, or licensed minister of a church or a lay person) but only if the contributions would be excludible from your gross income had they been paid directly to you. 1040ez 2009 tax form Foreign employment contributions while a nonresident alien. 1040ez 2009 tax form   In determining your cost, special rules apply if you are a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen or resident alien who received distributions in 2013 from a plan to which contributions were made while you were a nonresident alien. 1040ez 2009 tax form Your contributions and your employer's contributions are not included in your cost if the contribution: Was made based on compensation which was for services performed outside the United States while you were a nonresident alien, and Was not subject to income tax under the laws of the United States or any foreign country, but only if the contribution would have been subject to income tax if paid as cash compensation when the services were performed. 1040ez 2009 tax form Taxation of Periodic Payments This section explains how the periodic payments you receive from a pension or annuity plan are taxed. 1040ez 2009 tax form Periodic payments are amounts paid at regular intervals (such as weekly, monthly, or yearly) for a period of time greater than one year (such as for 15 years or for life). 1040ez 2009 tax form These payments are also known as amounts received as an annuity. 1040ez 2009 tax form If you receive an amount from your plan that is not a periodic payment, see Taxation of Nonperiodic Payments , later. 1040ez 2009 tax form In general, you can recover the cost of your pension or annuity tax free over the period you are to receive the payments. 1040ez 2009 tax form The amount of each payment that is more than the part that represents your cost is taxable (however, see Insurance Premiums for Retired Public Safety Officers , earlier). 1040ez 2009 tax form Designated Roth accounts. 1040ez 2009 tax form   If you receive a qualified distribution from a designated Roth account, the distribution is not included in your gross income. 1040ez 2009 tax form This applies to both your cost in the account and income earned on that account. 1040ez 2009 tax form A qualified distribution is generally a distribution that is: Made after a 5-tax-year period of participation, and Made on or after the date you reach age 59½, made to a beneficiary or your estate on or after your death, or attributable to your being disabled. 1040ez 2009 tax form   If the distribution is not a qualified distribution, the rules discussed in this section apply. 1040ez 2009 tax form The designated Roth account is treated as a separate contract. 1040ez 2009 tax form Period of participation. 1040ez 2009 tax form   The 5-tax-year period of participation is the 5-tax-year period beginning with the first tax year for which the participant made a designated Roth contribution to the plan. 1040ez 2009 tax form Therefore, for designated Roth contributions made for 2013, the first year for which a qualified distribution can be made is 2018. 1040ez 2009 tax form   However, if a direct rollover is made to the plan from a designated Roth account under another plan, the 5-tax-year period for the recipient plan begins with the first tax year for which the participant first had designated Roth contributions made to the other plan. 1040ez 2009 tax form   Your 401(k), 403(b), or 457(b) plan may permit you to roll over amounts from those plans to a designated Roth account within the same plan. 1040ez 2009 tax form This is known as an in-plan Roth rollover. 1040ez 2009 tax form For more details, see In-plan Roth rollovers , later. 1040ez 2009 tax form Fully Taxable Payments The pension or annuity payments that you receive are fully taxable if you have no cost in the contract because any of the following situations applies to you (however, see Insurance Premiums for Retired Public Safety Officers , earlier). 1040ez 2009 tax form You did not pay anything or are not considered to have paid anything for your pension or annuity. 1040ez 2009 tax form Amounts withheld from your pay on a tax-deferred basis are not considered part of the cost of the pension or annuity payment. 1040ez 2009 tax form Your employer did not withhold contributions from your salary. 1040ez 2009 tax form You got back all of your contributions tax free in prior years (however, see Exclusion not limited to cost under Partly Taxable Payments, later). 1040ez 2009 tax form Report the total amount you got on Form 1040, line 16b; Form 1040A, line 12b; or on Form 1040NR, line 17b. 1040ez 2009 tax form You should make no entry on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. 1040ez 2009 tax form Deductible voluntary employee contributions. 1040ez 2009 tax form   Distributions you receive that are based on your accumulated deductible voluntary employee contributions are generally fully taxable in the year distributed to you. 1040ez 2009 tax form Accumulated deductible voluntary employee contributions include net earnings on the contributions. 1040ez 2009 tax form If distributed as part of a lump sum, they do not qualify for the 10-year tax option or capital gain treatment, explained later. 1040ez 2009 tax form Partly Taxable Payments If you have a cost to recover from your pension or annuity plan (see Cost (Investment in the Contract) , earlier), you can exclude part of each annuity payment from income as a recovery of your cost. 1040ez 2009 tax form This tax-free part of the payment is figured when your annuity starts and remains the same each year, even if the amount of the payment changes. 1040ez 2009 tax form The rest of each payment is taxable (however, see Insurance Premiums for Retired Public Safety Officers , earlier). 1040ez 2009 tax form You figure the tax-free part of the payment using one of the following methods. 1040ez 2009 tax form Simplified Method. 1040ez 2009 tax form You generally must use this method if your annuity is paid under a qualified plan (a qualified employee plan, a qualified employee annuity, or a tax-sheltered annuity plan or contract). 1040ez 2009 tax form You cannot use this method if your annuity is paid under a nonqualified plan. 1040ez 2009 tax form General Rule. 1040ez 2009 tax form You must use this method if your annuity is paid under a nonqualified plan. 1040ez 2009 tax form You generally cannot use this method if your annuity is paid under a qualified plan. 1040ez 2009 tax form You determine which method to use when you first begin receiving your annuity, and you continue using it each year that you recover part of your cost. 1040ez 2009 tax form If you had more than one partly taxable pension or annuity, figure the tax-free part and the taxable part of each separately. 1040ez 2009 tax form Qualified plan annuity starting before November 19, 1996. 1040ez 2009 tax form   If your annuity is paid under a qualified plan and your annuity starting date (defined earlier under Cost (Investment in the Contract) ) is after July 1, 1986, and before November 19, 1996, you could have chosen to use either the Simplified Method or the General Rule. 1040ez 2009 tax form If your annuity starting date is before July 2, 1986, you use the General Rule unless your annuity qualified for the Three-Year Rule. 1040ez 2009 tax form If you used the Three-Year Rule (which was repealed for annuities starting after July 1, 1986), your annuity payments are generally now fully taxable. 1040ez 2009 tax form Exclusion limit. 1040ez 2009 tax form   Your annuity starting date determines the total amount of annuity payments that you can exclude from income over the years. 1040ez 2009 tax form Once your annuity starting date is determined, it does not change. 1040ez 2009 tax form If you calculate the taxable portion of your annuity payments using the simplified method worksheet, the annuity starting date determines the recovery period for your cost. 1040ez 2009 tax form That recovery period begins on your annuity starting date and is not affected by the date you first complete the worksheet. 1040ez 2009 tax form Exclusion limited to cost. 1040ez 2009 tax form   If your annuity starting date is after 1986, the total amount of annuity income that you can exclude over the years as a recovery of the cost cannot exceed your total cost. 1040ez 2009 tax form Any unrecovered cost at your (or the last annuitant's) death is allowed as a miscellaneous itemized deduction on the final return of the decedent. 1040ez 2009 tax form This deduction is not subject to the 2%-of-adjusted-gross-income limit. 1040ez 2009 tax form Example 1. 1040ez 2009 tax form Your annuity starting date is after 1986, and you exclude $100 a month ($1,200 a year) under the Simplified Method. 1040ez 2009 tax form The total cost of your annuity is $12,000. 1040ez 2009 tax form Your exclusion ends when you have recovered your cost tax free, that is, after 10 years (120 months). 1040ez 2009 tax form After that, your annuity payments are generally fully taxable. 1040ez 2009 tax form Example 2. 1040ez 2009 tax form The facts are the same as in Example 1, except you die (with no surviving annuitant) after the eighth year of retirement. 1040ez 2009 tax form You have recovered tax free only $9,600 (8 × $1,200) of your cost. 1040ez 2009 tax form An itemized deduction for your unrecovered cost of $2,400 ($12,000 – $9,600) can be taken on your final return. 1040ez 2009 tax form Exclusion not limited to cost. 1040ez 2009 tax form   If your annuity starting date is before 1987, you can continue to take your monthly exclusion for as long as you receive your annuity. 1040ez 2009 tax form If you chose a joint and survivor annuity, your survivor can continue to take the survivor's exclusion figured as of the annuity starting date. 1040ez 2009 tax form The total exclusion may be more than your cost. 1040ez 2009 tax form Simplified Method Under the Simplified Method, you figure the tax-free part of each annuity payment by dividing your cost by the total number of anticipated monthly payments. 1040ez 2009 tax form For an annuity that is payable for the lives of the annuitants, this number is based on the annuitants' ages on the annuity starting date and is determined from a table. 1040ez 2009 tax form For any other annuity, this number is the number of monthly annuity payments under the contract. 1040ez 2009 tax form Who must use the Simplified Method. 1040ez 2009 tax form   You must use the Simplified Method if your annuity starting date is after November 18, 1996, and you meet both of the following conditions. 1040ez 2009 tax form You receive your pension or annuity payments from any of the following plans. 1040ez 2009 tax form A qualified employee plan. 1040ez 2009 tax form A qualified employee annuity. 1040ez 2009 tax form A tax-sheltered annuity plan (403(b) plan). 1040ez 2009 tax form On your annuity starting date, at least one of the following conditions applies to you. 1040ez 2009 tax form You are under age 75. 1040ez 2009 tax form You are entitled to less than 5 years of guaranteed payments. 1040ez 2009 tax form Guaranteed payments. 1040ez 2009 tax form   Your annuity contract provides guaranteed payments if a minimum number of payments or a minimum amount (for example, the amount of your investment) is payable even if you and any survivor annuitant do not live to receive the minimum. 1040ez 2009 tax form If the minimum amount is less than the total amount of the payments you are to receive, barring death, during the first 5 years after payments begin (figured by ignoring any payment increases), you are entitled to less than 5 years of guaranteed payments. 1040ez 2009 tax form Annuity starting before November 19, 1996. 1040ez 2009 tax form   If your annuity starting date is after July 1, 1986, and before November 19, 1996, and you chose to use the Simplified Method, you must continue to use it each year that you recover part of your cost. 1040ez 2009 tax form You could have chosen to use the Simplified Method if your annuity is payable for your life (or the lives of you and your survivor annuitant) and you met both of the conditions listed earlier under Who must use the Simplified Method . 1040ez 2009 tax form Who cannot use the Simplified Method. 1040ez 2009 tax form   You cannot use the Simplified Method if you receive your pension or annuity from a nonqualified plan or otherwise do not meet the conditions described in the preceding discussion. 1040ez 2009 tax form See General Rule , later. 1040ez 2009 tax form How to use the Simplified Method. 1040ez 2009 tax form    Complete Worksheet A in the back of this publication to figure your taxable annuity for 2013. 1040ez 2009 tax form Be sure to keep the completed worksheet; it will help you figure your taxable annuity next year. 1040ez 2009 tax form   To complete line 3 of the worksheet, you must determine the total number of expected monthly payments for your annuity. 1040ez 2009 tax form How you do this depends on whether the annuity is for a single life, multiple lives, or a fixed period. 1040ez 2009 tax form For this purpose, treat an annuity that is payable over the life of an annuitant as payable for that annuitant's life even if the annuity has a fixed-period feature or also provides a temporary annuity payable to the annuitant's child under age 25. 1040ez 2009 tax form    You do not need to complete line 3 of the worksheet or make the computation on line 4 if you received annuity payments last year and used last year's worksheet to figure your taxable annuity. 1040ez 2009 tax form Instead, enter the amount from line 4 of last year's worksheet on line 4 of this year's worksheet. 1040ez 2009 tax form Single-life annuity. 1040ez 2009 tax form   If your annuity is payable for your life alone, use Table 1 at the bottom of the worksheet to determine the total number of expected monthly payments. 1040ez 2009 tax form Enter on line 3 the number shown for your age on your annuity starting date. 1040ez 2009 tax form This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. 1040ez 2009 tax form Multiple-lives annuity. 1040ez 2009 tax form   If your annuity is payable for the lives of more than one annuitant, use Table 2 at the bottom of the worksheet to determine the total number of expected monthly payments. 1040ez 2009 tax form Enter on line 3 the number shown for the annuitants' combined ages on the annuity starting date. 1040ez 2009 tax form For an annuity payable to you as the primary annuitant and to more than one survivor annuitant, combine your age and the age of the youngest survivor annuitant. 1040ez 2009 tax form For an annuity that has no primary annuitant and is payable to you and others as survivor annuitants, combine the ages of the oldest and youngest annuitants. 1040ez 2009 tax form Do not treat as a survivor annuitant anyone whose entitlement to payments depends on an event other than the primary annuitant's death. 1040ez 2009 tax form   However, if your annuity starting date is before 1998, do not use Table 2 and do not combine the annuitants' ages. 1040ez 2009 tax form Instead, you must use Table 1 at the bottom of the worksheet and enter on line 3 the number shown for the primary annuitant's age on the annuity starting date. 1040ez 2009 tax form This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. 1040ez 2009 tax form Fixed-period annuity. 1040ez 2009 tax form   If your annuity does not depend in whole or in part on anyone's life expectancy, the total number of expected monthly payments to enter on line 3 of the worksheet is the number of monthly annuity payments under the contract. 1040ez 2009 tax form Line 6. 1040ez 2009 tax form   The amount on line 6 should include all amounts that could have been recovered in prior years. 1040ez 2009 tax form If you did not recover an amount in a prior year, you may be able to amend your returns for the affected years. 1040ez 2009 tax form Example. 1040ez 2009 tax form Bill Smith, age 65, began receiving retirement benefits in 2013 under a joint and survivor annuity. 1040ez 2009 tax form Bill's annuity starting date is January 1, 2013. 1040ez 2009 tax form The benefits are to be paid for the joint lives of Bill and his wife, Kathy, age 65. 1040ez 2009 tax form Bill had contributed $31,000 to a qualified plan and had received no distributions before the annuity starting date. 1040ez 2009 tax form Bill is to receive a retirement benefit of $1,200 a month, and Kathy is to receive a monthly survivor benefit of $600 upon Bill's death. 1040ez 2009 tax form Bill must use the Simplified Method to figure his taxable annuity because his payments are from a qualified plan and he is under age 75. 1040ez 2009 tax form Because his annuity is payable over the lives of more than one annuitant, he uses his and Kathy's combined ages and Table 2 at the bottom of Worksheet A in completing line 3 of the worksheet. 1040ez 2009 tax form His completed worksheet is shown later. 1040ez 2009 tax form Bill's tax-free monthly amount is $100 ($31,000 ÷ 310) as shown on line 4 of the worksheet. 1040ez 2009 tax form Upon Bill's death, if Bill has not recovered the full $31,000 investment, Kathy will also exclude $100 from her $600 monthly payment. 1040ez 2009 tax form The full amount of any annuity payments received after 310 payments are paid must be included in gross income. 1040ez 2009 tax form If Bill and Kathy die before 310 payments are made, a miscellaneous itemized deduction will be allowed for the unrecovered cost on the final income tax return of the last to die. 1040ez 2009 tax form This deduction is not subject to the 2%-of-adjusted-gross-income limit. 1040ez 2009 tax form Worksheet A. 1040ez 2009 tax form Simplified Method Worksheet for Bill Smith 1. 1040ez 2009 tax form Enter the total pension or annuity payments received this year. 1040ez 2009 tax form Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. 1040ez 2009 tax form $14,400 2. 1040ez 2009 tax form Enter your cost in the plan (contract) at the annuity starting date plus any death benefit exclusion. 1040ez 2009 tax form * See Cost (Investment in the Contract) , earlier 2. 1040ez 2009 tax form 31,000   Note. 1040ez 2009 tax form If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). 1040ez 2009 tax form Otherwise, go to line 3. 1040ez 2009 tax form     3. 1040ez 2009 tax form Enter the appropriate number from Table 1 below. 1040ez 2009 tax form But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below 3. 1040ez 2009 tax form 310 4. 1040ez 2009 tax form Divide line 2 by the number on line 3 4. 1040ez 2009 tax form 100 5. 1040ez 2009 tax form Multiply line 4 by the number of months for which this year's payments were made. 1040ez 2009 tax form If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. 1040ez 2009 tax form Otherwise, go to line 6 5. 1040ez 2009 tax form 1,200 6. 1040ez 2009 tax form Enter any amount previously recovered tax free in years after 1986. 1040ez 2009 tax form This is the amount shown on line 10 of your worksheet for last year 6. 1040ez 2009 tax form -0- 7. 1040ez 2009 tax form Subtract line 6 from line 2 7. 1040ez 2009 tax form 31,000 8. 1040ez 2009 tax form Enter the smaller of line 5 or line 7 8. 1040ez 2009 tax form 1,200 9. 1040ez 2009 tax form Taxable amount for year. 1040ez 2009 tax form Subtract line 8 from line 1. 1040ez 2009 tax form Enter the result, but not less than zero. 1040ez 2009 tax form Also, add this amount to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. 1040ez 2009 tax form Note: If your Form 1099-R shows a larger taxable amount, use the amount figured on this line instead. 1040ez 2009 tax form If you are a retired public safety officer, see Insurance Premiums for Retired Public Safety Officers , earlier, before entering an amount on your tax return 9. 1040ez 2009 tax form $13,200 10. 1040ez 2009 tax form Was your annuity starting date before 1987? □ Yes. 1040ez 2009 tax form STOP. 1040ez 2009 tax form Do not complete the rest of this worksheet. 1040ez 2009 tax form  ☑ No. 1040ez 2009 tax form Add lines 6 and 8. 1040ez 2009 tax form This is the amount you have recovered tax free through 2013. 1040ez 2009 tax form You will need this number if you need to fill out this worksheet next year 10. 1040ez 2009 tax form 1,200 11. 1040ez 2009 tax form Balance of cost to be recovered. 1040ez 2009 tax form Subtract line 10 from line 2. 1040ez 2009 tax form If zero, you will not have to complete this worksheet next year. 1040ez 2009 tax form The payments you receive next year will generally be fully taxable 11. 1040ez 2009 tax form $29,800         * A death benefit exclusion (up to $5,000) applied to certain benefits received by employees who died before August 21, 1996. 1040ez 2009 tax form           Table 1 for Line 3 Above       AND your annuity starting date was—     IF the age at annuity starting date was. 1040ez 2009 tax form . 1040ez 2009 tax form . 1040ez 2009 tax form BEFORE November 19, 1996, enter on line 3. 1040ez 2009 tax form . 1040ez 2009 tax form . 1040ez 2009 tax form AFTER November 18, 1996, enter on line 3. 1040ez 2009 tax form . 1040ez 2009 tax form . 1040ez 2009 tax form     55 or under 300 360     56-60 260 310     61-65 240 260     66-70 170 210     71 or older 120 160     Table 2 for Line 3 Above     IF the combined ages at  annuity starting date were. 1040ez 2009 tax form . 1040ez 2009 tax form . 1040ez 2009 tax form THEN enter on line 3. 1040ez 2009 tax form . 1040ez 2009 tax form . 1040ez 2009 tax form     110 or under   410     111-120   360     121-130   310     131-140   260     141 or older   210   Multiple annuitants. 1040ez 2009 tax form   If you and one or more other annuitants receive payments at the same time, you exclude from each annuity payment a pro rata share of the monthly tax-free amount. 1040ez 2009 tax form Figure your share by taking the following steps. 1040ez 2009 tax form Complete your worksheet through line 4 to figure the monthly tax-free amount. 1040ez 2009 tax form Divide the amount of your monthly payment by the total amount of the monthly payments to all annuitants. 1040ez 2009 tax form Multiply the amount on line 4 of your worksheet by the amount figured in (2) above. 1040ez 2009 tax form The result is your share of the monthly tax-free amount. 1040ez 2009 tax form   Replace the amount on line 4 of the worksheet with the result in (3) above. 1040ez 2009 tax form Enter that amount on line 4 of your worksheet each year. 1040ez 2009 tax form General Rule Under the General Rule, you determine the tax-free part of each annuity payment based on the ratio of the cost of the contract to the total expected return. 1040ez 2009 tax form Expected return is the total amount you and other eligible annuitants can expect to receive under the contract. 1040ez 2009 tax form To figure it, you must use life expectancy (actuarial) tables prescribed by the IRS. 1040ez 2009 tax form Who must use the General Rule. 1040ez 2009 tax form   You must use the General Rule if you receive pension or annuity payments from: A nonqualified plan (such as a private annuity, a purchased commercial annuity, or a nonqualified employee plan), or A qualified plan if you are age 75 or older on your annuity starting date and your annuity payments are guaranteed for at least 5 years. 1040ez 2009 tax form Annuity starting before November 19, 1996. 1040ez 2009 tax form   If your annuity starting date is after July 1, 1986, and before November 19, 1996, you had to use the General Rule for either circumstance just described. 1040ez 2009 tax form You also had to use it for any fixed-period annuity. 1040ez 2009 tax form If you did not have to use the General Rule, you could have chosen to use it. 1040ez 2009 tax form If your annuity starting date is before July 2, 1986, you had to use the General Rule unless you could use the Three-Year Rule. 1040ez 2009 tax form   If you had to use the General Rule (or chose to use it), you must continue to use it each year that you recover your cost. 1040ez 2009 tax form Who cannot use the General Rule. 1040ez 2009 tax form   You cannot use the General Rule if you receive your pension or annuity from a qualified plan and none of the circumstances described in the preceding discussions apply to you. 1040ez 2009 tax form See Simplified Method , earlier. 1040ez 2009 tax form More information. 1040ez 2009 tax form   For complete information on using the General Rule, including the actuarial tables you need, see Publication 939. 1040ez 2009 tax form Taxation of Nonperiodic Payments This section of the publication explains how any nonperiodic distributions you receive under a pension or annuity plan are taxed. 1040ez 2009 tax form Nonperiodic distributions are also known as amounts not received as an annuity. 1040ez 2009 tax form They include all payments other than periodic payments and corrective distributions. 1040ez 2009 tax form For example, the following items are treated as nonperiodic distributions. 1040ez 2009 tax form Cash withdrawals. 1040ez 2009 tax form Distributions of current earnings (dividends) on your investment. 1040ez 2009 tax form However, do not include these distributions in your income to the extent the insurer keeps them to pay premiums or other consideration for the contract. 1040ez 2009 tax form Certain loans. 1040ez 2009 tax form See Loans Treated as Distributions , later. 1040ez 2009 tax form The value of annuity contracts transferred without full and adequate consideration. 1040ez 2009 tax form See Transfers of Annuity Contracts , later. 1040ez 2009 tax form Corrective distributions of excess plan contributions. 1040ez 2009 tax form   Generally, if the contributions made for you during the year to certain retirement plans exceed certain limits, the excess is taxable to you. 1040ez 2009 tax form To correct an excess, your plan may distribute it to you (along with any income earned on the excess). 1040ez 2009 tax form Although the plan reports the corrective distributions on Form 1099-R, the distribution is not treated as a nonperiodic distribution from the plan. 1040ez 2009 tax form It is not subject to the allocation rules explained in the following discussion, it cannot be rolled over into another plan, and it is not subject to the additional tax on early distributions. 1040ez 2009 tax form    If your retirement plan made a corrective distribution of excess amounts (excess deferrals, excess contributions, or excess annual additions), your Form 1099-R should have the code “8,” “B,” “P,” or “E” in box 7. 1040ez 2009 tax form   For information on plan contribution limits and how to report corrective distributions of excess contributions, see Retirement Plan Contributions under Employee Compensation in Publication 525. 1040ez 2009 tax form Figuring the Taxable Amount How you figure the taxable amount of a nonperiodic distribution depends on whether it is made before the annuity starting date, or on or after the annuity starting date. 1040ez 2009 tax form If it is made before the annuity starting date, its tax treatment also depends on whether it is made under a qualified or nonqualified plan. 1040ez 2009 tax form If it is made under a nonqualified plan, its tax treatment depends on whether it fully discharges the contract, is received under certain life insurance or endowment contracts, or is allocable to an investment you made before August 14, 1982. 1040ez 2009 tax form You may be able to roll over the taxable amount of a nonperiodic distribution from a qualified retirement plan into another qualified retirement plan or a traditional IRA tax free. 1040ez 2009 tax form See Rollovers, later. 1040ez 2009 tax form If you do not make a tax-free rollover and the distribution qualifies as a lump-sum distribution, you may be able to elect an optional method of figuring the tax on the taxable amount. 1040ez 2009 tax form See Lump-Sum Distributions, later. 1040ez 2009 tax form Annuity starting date. 1040ez 2009 tax form   The annuity starting date is either the first day of the first period for which you receive an annuity payment under the contract or the date on which the obligation under the contract becomes fixed, whichever is later. 1040ez 2009 tax form Distributions of employer securities. 1040ez 2009 tax form    If you receive a distribution of employer securities from a qualified retirement plan, you may be able to defer the tax on the net unrealized appreciation (NUA) in the securities. 1040ez 2009 tax form The NUA is the net increase in the securities' value while they were in the trust. 1040ez 2009 tax form This tax deferral applies to distributions of the employer corporation's stocks, bonds, registered debentures, and debentures with interest coupons attached. 1040ez 2009 tax form   If the distribution is a lump-sum distribution, tax is deferred on all of the NUA unless you choose to include it in your income for the year of the distribution. 1040ez 2009 tax form    A lump-sum distribution for this purpose is the distribution or payment of a plan participant's entire balance (within a single tax year) from all of the employer's qualified plans of one kind (pension, profit-sharing, or stock bonus plans), but only if paid: Because of the plan participant's death, After the participant reaches age 59½, Because the participant, if an employee, separates from service, or After the participant, if a self-employed individual, becomes totally and permanently disabled. 1040ez 2009 tax form    If you choose to include NUA in your income for the year of the distribution and the participant was born before January 2, 1936, you may be able to figure the tax on the NUA using the optional methods described und
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The 1040ez 2009 Tax Form

1040ez 2009 tax form 5. 1040ez 2009 tax form   Illustrated Examples Table of Contents Illustrated Example of Form 4563Line 1. 1040ez 2009 tax form Line 2. 1040ez 2009 tax form Lines 3a and 3b. 1040ez 2009 tax form Lines 4a and 4b. 1040ez 2009 tax form Line 5. 1040ez 2009 tax form Line 6. 1040ez 2009 tax form Line 7. 1040ez 2009 tax form Line 9. 1040ez 2009 tax form Line 15. 1040ez 2009 tax form Illustrated Example of Form 5074Part I. 1040ez 2009 tax form Part II. 1040ez 2009 tax form Part III. 1040ez 2009 tax form Illustrated Example of Form 8689Part I. 1040ez 2009 tax form Part II. 1040ez 2009 tax form Part III. 1040ez 2009 tax form Part IV. 1040ez 2009 tax form Use the following examples to help you complete the correct attachment to your Form 1040. 1040ez 2009 tax form The completed form for each example is shown on the pages that follow. 1040ez 2009 tax form Illustrated Example of Form 4563 John Black is a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen, single, and under 65. 1040ez 2009 tax form He was a bona fide resident of American Samoa during all of 2013. 1040ez 2009 tax form John must file Form 1040 because his gross income from sources outside the possessions ($10,000 of dividends from U. 1040ez 2009 tax form S. 1040ez 2009 tax form corporations) is more than his adjusted filing requirement for single filers under 65. 1040ez 2009 tax form (See Filing Requirement if Possession Income Is Excluded in chapter 4. 1040ez 2009 tax form ) Because he must file Form 1040 (not illustrated), he fills out Form 4563 to determine the amount of income from American Samoa he can exclude. 1040ez 2009 tax form See Bona Fide Resident of American Samoa in chapter 3. 1040ez 2009 tax form Completing Form 4563. 1040ez 2009 tax form   John enters his name and social security number at the top of the form. 1040ez 2009 tax form Line 1. 1040ez 2009 tax form   On Form 4563 (see later), John enters the date his bona fide residence began in American Samoa, June 2, 2012. 1040ez 2009 tax form Because he is still a bona fide resident, he enters “not ended” in the second blank space. 1040ez 2009 tax form Line 2. 1040ez 2009 tax form   He checks the box labeled “Rented house or apartment” to describe his type of living quarters in American Samoa. 1040ez 2009 tax form Lines 3a and 3b. 1040ez 2009 tax form   He checks “No” on line 3a because no family members lived with him. 1040ez 2009 tax form He leaves line 3b blank. 1040ez 2009 tax form Lines 4a and 4b. 1040ez 2009 tax form   He checks “No” on line 4a because he did not maintain a home outside American Samoa. 1040ez 2009 tax form He leaves line 4b blank. 1040ez 2009 tax form Line 5. 1040ez 2009 tax form   He enters the name and address of his employer, Samoa Products Co. 1040ez 2009 tax form It is a private American Samoa corporation. 1040ez 2009 tax form Line 6. 1040ez 2009 tax form   He enters the dates of his 2-week vacation to New Zealand from November 11 to November 25. 1040ez 2009 tax form That was his only trip outside American Samoa during the year. 1040ez 2009 tax form Line 7. 1040ez 2009 tax form   He enters the $24,000 in wages he received from Samoa Products Co. 1040ez 2009 tax form Line 9. 1040ez 2009 tax form   He received $220 in dividends from an American Samoa corporation, which he enters here. 1040ez 2009 tax form He also received $10,000 of dividends from a U. 1040ez 2009 tax form S. 1040ez 2009 tax form corporation, but he will enter that amount only on his Form 1040 because the U. 1040ez 2009 tax form S. 1040ez 2009 tax form dividends do not qualify for the possession exclusion. 1040ez 2009 tax form Line 15. 1040ez 2009 tax form   John totals the amounts on lines 7 and 9 to get the amount he can exclude from his gross income in 2013. 1040ez 2009 tax form He will not enter his excluded income on Form 1040. 1040ez 2009 tax form However, he will attach his completed Form 4563 to his Form 1040. 1040ez 2009 tax form Illustrated Example of Form 5074 Tracy Grey is a U. 1040ez 2009 tax form S. 1040ez 2009 tax form citizen who is a self-employed fisheries consultant with a tax home in New York. 1040ez 2009 tax form Her only income for 2013 was net self-employment income of $80,000. 1040ez 2009 tax form Of the $80,000, $20,000 was from consulting work in Guam and the rest was earned in the United States. 1040ez 2009 tax form Thinking she would owe tax to Guam on the $20,000, Tracy made estimated tax payments of $1,409 to Guam. 1040ez 2009 tax form She was not a bona fide resident of Guam during 2013. 1040ez 2009 tax form Tracy completes Form 1040 (not illustrated), reporting her worldwide income. 1040ez 2009 tax form Because the adjusted gross income on her Form 1040 was $50,000 or more and at least $5,000 of her gross income is from Guam, Tracy must file Form 5074 with her Form 1040. 1040ez 2009 tax form All amounts reported on Form 5074 are also reported on her Form 1040. 1040ez 2009 tax form See U. 1040ez 2009 tax form S. 1040ez 2009 tax form Citizen or Resident Alien (Other Than a Bona Fide Resident of Guam) in chapter 3. 1040ez 2009 tax form Completing Form 5074. 1040ez 2009 tax form   Tracy enters her name and social security number at the top of the form. 1040ez 2009 tax form Part I. 1040ez 2009 tax form   On Form 5074 (see later), Tracy enters her self-employment income from Guam ($20,000) on line 6. 1040ez 2009 tax form She has no other income from Guam, so the total on line 16 is $20,000. 1040ez 2009 tax form Part II. 1040ez 2009 tax form   Tracy's only adjustment in Part II is the deductible part of the self-employment tax on her net income earned in Guam. 1040ez 2009 tax form She enters $1,413 on line 21 and line 28. 1040ez 2009 tax form Her adjusted gross income on line 29 is $18,587. 1040ez 2009 tax form Part III. 1040ez 2009 tax form   Tracy made estimated tax payments of $1,409. 1040ez 2009 tax form She enters this amount on line 30, and again on line 34 as the total payments. 1040ez 2009 tax form Illustrated Example of Form 8689 Juan and Carla Moreno live and work in the United States. 1040ez 2009 tax form In 2013, they received $14,400 in income from the rental of a condominium they own in the U. 1040ez 2009 tax form S. 1040ez 2009 tax form Virgin Islands (USVI). 1040ez 2009 tax form The rental income was deposited in a bank in the USVI and they received $500 of interest on this income. 1040ez 2009 tax form They were not bona fide residents of the USVI during the entire tax year. 1040ez 2009 tax form The Morenos complete Form 1040 (not illustrated), reporting their income from all sources, including their interest income and the income and expenses from their USVI rental property (reported on Schedule E (Form 1040)). 1040ez 2009 tax form The Morenos take the standard deduction for married filing jointly, both are under 65, and they have no dependents. 1040ez 2009 tax form The Morenos also complete Form 8689 to determine how much of their U. 1040ez 2009 tax form S. 1040ez 2009 tax form tax shown on Form 1040, line 61 (with certain adjustments), must be paid to the U. 1040ez 2009 tax form S. 1040ez 2009 tax form Virgin Islands. 1040ez 2009 tax form See U. 1040ez 2009 tax form S. 1040ez 2009 tax form Citizen or Resident Alien (Other Than a Bona Fide Resident of the USVI) in chapter 3. 1040ez 2009 tax form The Morenos file their Form 1040, attaching Form 8689 and all other schedules, with the Internal Revenue Service. 1040ez 2009 tax form At the same time, they send a copy of their Form 1040 with all attachments, including Form 8689, to the Virgin Islands Bureau of Internal Revenue. 1040ez 2009 tax form The Virgin Islands Bureau of Internal Revenue will process this copy. 1040ez 2009 tax form Completing Form 8689. 1040ez 2009 tax form   Juan and Carla enter their names and Juan's social security number at the top of the form. 1040ez 2009 tax form Part I. 1040ez 2009 tax form   The Morenos enter their income from the USVI in Part I (see later). 1040ez 2009 tax form The interest income is entered on line 2 and the net rental income of $6,200 ($14,400 of rental income minus $8,200 of rental expenses) is entered on line 11. 1040ez 2009 tax form The Morenos' total USVI income of $6,700 is entered on line 16. 1040ez 2009 tax form Part II. 1040ez 2009 tax form   The Morenos have no adjustments to their USVI income, so they enter zero (-0-) on line 28, and $6,700 on line 29. 1040ez 2009 tax form Their USVI adjusted gross income (AGI) is $6,700. 1040ez 2009 tax form Part III. 1040ez 2009 tax form   On line 30, the Morenos enter the amount from Form 1040, line 61 ($4,539). 1040ez 2009 tax form Their Form 1040 does not show any entries required on line 31, so they leave that line blank and enter $4,539 on line 32. 1040ez 2009 tax form   The Morenos enter their worldwide AGI, $54,901 (Form 1040, line 38), on line 33. 1040ez 2009 tax form Next, they find what percentage of their AGI is from USVI sources ($6,700 ÷ $54,901 = 0. 1040ez 2009 tax form 122) and enter that as a decimal on line 34. 1040ez 2009 tax form They then apply that percentage to the U. 1040ez 2009 tax form S. 1040ez 2009 tax form tax entered on line 32 to find the amount of U. 1040ez 2009 tax form S. 1040ez 2009 tax form tax allocated to USVI income ($4,539 x 0. 1040ez 2009 tax form 122 = $554), and enter that amount on line 35. 1040ez 2009 tax form Part IV. 1040ez 2009 tax form   Part IV is used to show payments of income tax to the USVI only. 1040ez 2009 tax form The Morenos had no tax withheld by the U. 1040ez 2009 tax form S. 1040ez 2009 tax form Virgin Islands, but made estimated tax payments to the USVI of $400, which they entered on lines 37 and 39. 1040ez 2009 tax form They include this amount ($400) in the total payments on Form 1040, line 72. 1040ez 2009 tax form On the dotted line next to the entry space for line 72, they enter “Form 8689” and show the amount. 1040ez 2009 tax form The Morenos do not complete Form 1116 because they receive credit on Form 1040, line 72, for the tax paid to the USVI. 1040ez 2009 tax form   The income tax they owe to the USVI ($154) is shown on Form 8689, line 44. 1040ez 2009 tax form They enter this amount on line 45. 1040ez 2009 tax form They also include this additional amount ($154) on the dotted line next to the entry space and in the total on Form 1040, line 72. 1040ez 2009 tax form The Morenos will pay their USVI tax at the same time they file the copy of their U. 1040ez 2009 tax form S. 1040ez 2009 tax form income tax return with the U. 1040ez 2009 tax form S. 1040ez 2009 tax form Virgin Islands. 1040ez 2009 tax form This image is too large to be displayed in the current screen. 1040ez 2009 tax form Please click the link to view the image. 1040ez 2009 tax form Form 4563, page 1 for John Black This image is too large to be displayed in the current screen. 1040ez 2009 tax form Please click the link to view the image. 1040ez 2009 tax form Form 5074, for Tracy Grey This image is too large to be displayed in the current screen. 1040ez 2009 tax form Please click the link to view the image. 1040ez 2009 tax form Form 8689, page 1 for Juan and Carla Moreno Prev  Up  Next   Home   More Online Publications