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1040ez Forms 2012

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1040ez Forms 2012

1040ez forms 2012 Internal Revenue Bulletin:  2010-9  March 1, 2010  Rev. 1040ez forms 2012 Proc. 1040ez forms 2012 2010-18 Table of Contents SECTION 1. 1040ez forms 2012 PURPOSE SECTION 2. 1040ez forms 2012 BACKGROUND SECTION 3. 1040ez forms 2012 SCOPE SECTION 4. 1040ez forms 2012 APPLICATION SECTION 5. 1040ez forms 2012 EFFECTIVE DATE SECTION 6. 1040ez forms 2012 DRAFTING INFORMATION SECTION 1. 1040ez forms 2012 PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2010, including a separate table of limitations on depreciation deductions for trucks and vans; and (2) the amounts to be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2010, including a separate table of inclusion amounts for lessees of trucks and vans. 1040ez forms 2012 The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. 1040ez forms 2012 SECTION 2. 1040ez forms 2012 BACKGROUND . 1040ez forms 2012 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. 1040ez forms 2012 Section 280F(d)(7) requires the amounts allowable as depreciation deductions to be increased by a price inflation adjustment amount for passenger automobiles placed in service after 1988. 1040ez forms 2012 The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. 1040ez forms 2012 This change reflects the higher rate of price inflation for trucks and vans since 1988. 1040ez forms 2012 . 1040ez forms 2012 02 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. 1040ez forms 2012 The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. 1040ez forms 2012 Under § 1. 1040ez forms 2012 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an inclusion amount determined by applying a formula to the amount obtained from a table. 1040ez forms 2012 One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. 1040ez forms 2012 Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. 1040ez forms 2012 SECTION 3. 1040ez forms 2012 SCOPE . 1040ez forms 2012 01 The limitations on depreciation deductions in section 4. 1040ez forms 2012 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2010, and continue to apply for each taxable year that the passenger automobile remains in service. 1040ez forms 2012 . 1040ez forms 2012 02 The tables in section 4. 1040ez forms 2012 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2010. 1040ez forms 2012 Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. 1040ez forms 2012 See Rev. 1040ez forms 2012 Proc. 1040ez forms 2012 2005-13, 2005-1 C. 1040ez forms 2012 B. 1040ez forms 2012 759, for passenger automobiles first leased before calendar year 2006; Rev. 1040ez forms 2012 Proc. 1040ez forms 2012 2006-18, 2006-1 C. 1040ez forms 2012 B. 1040ez forms 2012 645, for passenger automobiles first leased during calendar year 2006; Rev. 1040ez forms 2012 Proc. 1040ez forms 2012 2007-30, 2007-1 C. 1040ez forms 2012 B. 1040ez forms 2012 1104, for passenger automobiles first leased during calendar year 2007; Rev. 1040ez forms 2012 Proc. 1040ez forms 2012 2008-22, 2008-12 I. 1040ez forms 2012 R. 1040ez forms 2012 B. 1040ez forms 2012 658, for passenger automobiles first leased during calendar year 2008; and Rev. 1040ez forms 2012 Proc. 1040ez forms 2012 2009-24, 2009-17 I. 1040ez forms 2012 R. 1040ez forms 2012 B. 1040ez forms 2012 885, for passenger automobiles first leased during calendar year 2009. 1040ez forms 2012 SECTION 4. 1040ez forms 2012 APPLICATION . 1040ez forms 2012 01 Limitations on Depreciation Deductions for Certain Automobiles. 1040ez forms 2012 (1) Amount of the inflation adjustment. 1040ez forms 2012 (a) Passenger automobiles (other than trucks or vans). 1040ez forms 2012 Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. 1040ez forms 2012 The term “CPI automobile component” is defined in § 280F(d)(7)(B)(ii) as the “automobile component” of the Consumer Price Index for all Urban Consumers published by the Department of Labor. 1040ez forms 2012 The new car component of the CPI was 115. 1040ez forms 2012 2 for October 1987 and 137. 1040ez forms 2012 851 for October 2009. 1040ez forms 2012 The October 2009 index exceeded the October 1987 index by 22. 1040ez forms 2012 651. 1040ez forms 2012 Therefore, the automobile price inflation adjustment for 2010 for passenger automobiles (other than trucks and vans) is 19. 1040ez forms 2012 66 percent (22. 1040ez forms 2012 651/115. 1040ez forms 2012 2 x 100%). 1040ez forms 2012 The dollar limitations in § 280F(a) are multiplied by a factor of 0. 1040ez forms 2012 1966, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2010. 1040ez forms 2012 This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2010. 1040ez forms 2012 (b) Trucks and vans. 1040ez forms 2012 To determine the dollar limitations for trucks and vans first placed in service during calendar year 2010, the new truck component of the CPI is used instead of the new car component. 1040ez forms 2012 The new truck component of the CPI was 112. 1040ez forms 2012 4 for October 1987 and 140. 1040ez forms 2012 897 for October 2009. 1040ez forms 2012 The October 2009 index exceeded the October 1987 index by 28. 1040ez forms 2012 497. 1040ez forms 2012 Therefore, the automobile price inflation adjustment for 2010 for trucks and vans is 25. 1040ez forms 2012 35 percent (28. 1040ez forms 2012 497/112. 1040ez forms 2012 4 x 100%). 1040ez forms 2012 The dollar limitations in § 280F(a) are multiplied by a factor of 0. 1040ez forms 2012 2535, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. 1040ez forms 2012 This adjustment applies to all trucks and vans that are first placed in service in calendar year 2010. 1040ez forms 2012 (2) Amount of the limitation. 1040ez forms 2012 Tables 1 and 2 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2010. 1040ez forms 2012 Use Table 1 for a passenger automobile (other than a truck or van) and Table 2 for a truck or van placed in service in calendar year 2010. 1040ez forms 2012 REV. 1040ez forms 2012 PROC. 1040ez forms 2012 2010-18 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2010 Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 1040ez forms 2012 PROC. 1040ez forms 2012 2010-18 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 Tax Year Amount 1st Tax Year $3,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 . 1040ez forms 2012 02 Inclusions in Income of Lessees of Passenger Automobiles. 1040ez forms 2012 A taxpayer must follow the procedures in § 1. 1040ez forms 2012 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2010. 1040ez forms 2012 In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 3 of this revenue procedure, while lessees of trucks and vans should use Table 4 of this revenue procedure. 1040ez forms 2012 REV. 1040ez forms 2012 PROC. 1040ez forms 2012 2010-18 TABLE 3 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2010 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $16,700 $17,000 3 7 10 11 14 17,000 17,500 4 8 13 15 16 17,500 18,000 5 10 16 19 21 18,000 18,500 6 13 18 23 26 18,500 19,000 7 15 22 26 31 19,000 19,500 8 17 25 30 35 19,500 20,000 9 19 29 34 39 20,000 20,500 10 21 32 38 44 20,500 21,000 11 23 35 42 48 21,000 21,500 12 26 38 45 53 21,500 22,000 13 28 41 50 57 22,000 23,000 14 31 46 56 63 23,000 24,000 16 36 52 63 73 24,000 25,000 18 40 59 71 81 25,000 26,000 20 44 66 78 90 26,000 27,000 22 49 71 86 100 27,000 28,000 24 53 78 94 108 28,000 29,000 26 57 85 101 118 29,000 30,000 28 61 92 109 126 30,000 31,000 30 66 97 117 135 31,000 32,000 32 70 104 125 144 32,000 33,000 34 74 111 132 153 33,000 34,000 36 79 117 140 161 34,000 35,000 38 83 123 148 171 35,000 36,000 40 87 130 156 179 36,000 37,000 42 92 136 163 188 37,000 38,000 44 96 143 170 198 38,000 39,000 46 100 149 179 206 39,000 40,000 48 105 155 186 215 40,000 41,000 50 109 162 194 224 41,000 42,000 52 113 169 201 233 42,000 43,000 54 118 174 210 241 43,000 44,000 56 122 181 217 251 44,000 45,000 58 126 188 225 259 45,000 46,000 60 131 194 232 269 46,000 47,000 61 135 201 240 277 47,000 48,000 63 140 207 248 286 48,000 49,000 65 144 213 256 295 49,000 50,000 67 148 220 263 304 50,000 51,000 69 153 226 271 313 51,000 52,000 71 157 232 279 322 52,000 53,000 73 161 239 287 331 53,000 54,000 75 166 245 294 340 54,000 55,000 77 170 252 302 348 55,000 56,000 79 174 258 310 358 56,000 57,000 81 178 265 318 366 57,000 58,000 83 183 271 325 375 58,000 59,000 85 187 278 333 384 59,000 60,000 87 191 284 341 393 60,000 62,000 90 198 294 352 406 62,000 64,000 94 207 306 368 424 64,000 66,000 98 215 320 382 443 66,000 68,000 102 224 332 398 460 68,000 70,000 106 232 346 413 478 70,000 72,000 110 241 358 429 496 72,000 74,000 114 250 371 444 513 74,000 76,000 118 258 384 460 531 76,000 78,000 122 267 396 476 549 78,000 80,000 126 276 409 491 566 80,000 85,000 132 291 432 518 598 85,000 90,000 142 313 464 556 643 90,000 95,000 152 334 497 594 687 95,000 100,000 162 356 528 634 731 100,000 110,000 177 388 577 691 798 110,000 120,000 196 432 641 768 887 120,000 130,000 216 475 705 846 976 130,000 140,000 236 518 770 922 1,065 140,000 150,000 256 561 834 1,000 1,154 150,000 160,000 275 605 898 1,077 1,243 160,000 170,000 295 648 963 1,153 1,333 170,000 180,000 315 691 1,027 1,231 1,421 180,000 190,000 334 735 1,091 1,308 1,510 190,000 200,000 354 778 1,155 1,386 1,599 200,000 210,000 374 821 1,220 1,462 1,688 210,000 220,000 393 865 1,284 1,539 1,777 220,000 230,000 413 908 1,348 1,617 1,866 230,000 240,000 433 951 1,413 1,693 1,956 240,000 and up 453 995 1,476 1,771 2,044 REV. 1040ez forms 2012 PROC. 1040ez forms 2012 2010-18 TABLE 4 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2010 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later 17,000 17,500 3 6 9 10 11 17,500 18,000 4 8 12 14 16 18,000 18,500 5 10 15 18 21 18,500 19,000 6 12 19 22 24 19,000 19,500 7 15 21 26 29 19,500 20,000 8 17 25 29 34 20,000 20,500 9 19 28 33 38 20,500 21,000 10 21 31 37 43 21,000 21,500 11 23 35 41 47 21,500 22,000 12 25 38 45 51 22,000 23,000 13 29 42 51 58 23,000 24,000 15 33 49 58 67 24,000 25,000 17 37 56 66 76 25,000 26,000 19 42 62 73 85 26,000 27,000 21 46 68 82 93 27,000 28,000 23 50 75 89 103 28,000 29,000 25 55 81 97 111 29,000 30,000 27 59 88 104 121 30,000 31,000 29 63 94 113 129 31,000 32,000 31 68 100 120 138 32,000 33,000 33 72 107 127 148 33,000 34,000 35 76 114 135 156 34,000 35,000 37 81 119 143 165 35,000 36,000 39 85 126 151 174 36,000 37,000 41 89 133 158 183 37,000 38,000 43 94 139 166 191 38,000 39,000 45 98 145 174 201 39,000 40,000 47 102 152 182 209 40,000 41,000 49 106 159 189 218 41,000 42,000 51 111 164 198 227 42,000 43,000 53 115 171 205 236 43,000 44,000 55 119 178 213 245 44,000 45,000 57 124 184 220 254 45,000 46,000 59 128 190 228 263 46,000 47,000 60 133 197 235 272 47,000 48,000 62 137 203 244 280 48,000 49,000 64 142 209 251 290 49,000 50,000 66 146 216 259 298 50,000 51,000 68 150 223 266 308 51,000 52,000 70 154 229 275 316 52,000 53,000 72 159 235 282 325 53,000 54,000 74 163 242 290 334 54,000 55,000 76 167 249 297 343 55,000 56,000 78 172 254 305 352 56,000 57,000 80 176 261 313 361 57,000 58,000 82 180 268 320 370 58,000 59,000 84 185 274 328 378 59,000 60,000 86 189 280 336 388 60,000 62,000 89 195 291 347 401 62,000 64,000 93 204 303 363 418 64,000 66,000 97 213 315 379 436 66,000 68,000 101 221 329 394 454 68,000 70,000 105 230 341 410 472 70,000 72,000 109 239 354 424 490 72,000 74,000 113 247 367 440 508 74,000 76,000 117 256 380 455 526 76,000 78,000 121 264 393 471 543 78,000 80,000 125 273 406 486 561 80,000 85,000 131 289 428 513 592 85,000 90,000 141 310 461 552 636 90,000 95,000 151 332 492 591 681 95,000 100,000 161 353 525 629 726 100,000 110,000 176 386 573 686 793 110,000 120,000 195 430 637 763 882 120,000 130,000 215 473 701 841 971 130,000 140,000 235 516 766 918 1,059 140,000 150,000 255 559 830 995 1,149 150,000 160,000 274 603 894 1,072 1,238 160,000 170,000 294 646 958 1,150 1,326 170,000 180,000 314 689 1,023 1,226 1,416 180,000 190,000 333 733 1,087 1,303 1,505 190,000 200,000 353 776 1,151 1,381 1,594 200,000 210,000 373 819 1,216 1,457 1,683 210,000 220,000 392 863 1,280 1,534 1,772 220,000 230,000 412 906 1,344 1,612 1,861 230,000 240,000 432 949 1,409 1,689 1,949 240,000 and up 452 992 1,473 1,766 2,039 SECTION 5. 1040ez forms 2012 EFFECTIVE DATE This revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2010. 1040ez forms 2012 SECTION 6. 1040ez forms 2012 DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. 1040ez forms 2012 Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). 1040ez forms 2012 For further information regarding this revenue procedure, contact Mr. 1040ez forms 2012 Harvey at (202) 622-4930 (not a toll-free call). 1040ez forms 2012 Prev  Up  Next   Home   More Internal Revenue Bulletins
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Back to School

Use these resources and tips to help prepare your child for the new school year.

Immunizations and Other Health Requirements

It's a good idea to take your child for a physical and eye exam before school starts. Most schools require up-to-date immunizations and may need documentation. Failing to keep immunizations current could prevent your child from attending school. Check the immunization requirements in your state.

Bring all health-related forms that the school requires when you take your child to the doctor. If your child will be participating in a sport, his/her doctor may have to sign a release form. Be sure to keep your own copy of any records.

Let your child's doctor know if you have any questions or concerns about the scheduled vaccines or any other health-related issues that may be affecting your child.

Financial Assistance for Families

There are several programs and resources available to ease the financial burden of going back to school, including low cost meals and affordable health insurance.

Find out if your family qualifies for any Child Nutrition Programs, which includes the National School Lunch Program. 

For free or low-cost health coverage, see if you qualify for the Children's Health Insurance Program (CHIP). If you don't qualify, you can find and compare health insurance through the Health Insurance Marketplace. Enrollment starts October 1, 2013 for coverage beginning January 1, 2014.

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Homework Help

Homework can provide many benefits for children. It can improve memory and comprehension, develop study skills, and teach children how to manage time. You can help by making sure your kids have a quiet, well-lit place to do homework and provide assistance, but not complete answers. Learn how to help your kids with homework and succeed in school.

School Supplies

Many school supplies, such as pens, binders, and notebooks, can be reused. Sort through the materials you already have, separating those that your child can use again from those that should be recycled or tossed. Get more tips on how to reduce waste during the school year

Some states offer a "sales tax holiday" for a few days each year. This means that certain products won't be taxed during a set period of time. If your state offers a sales tax holiday, you may be able to save money on clothes, shoes, and other supplies. Check to see if your state participates in sales tax holidays.

Healthy Eating and Physical Fitness

Nutrition is an important factor in academic performance. Studies have shown that children who eat healthy, balanced breakfasts and lunches are more alert throughout the school day and earn higher grades than those who have an unhealthy diet. 

Learn about healthy lunches, breakfasts, and snacks your child can get at school and get tips on preparing a healthy school lunch and making small changes at home to improve your family's diet.

Exercise is an important part of a child's health. Physical activity helps build muscle, promote strong bones, and control weight. Get ideas to help promote an active lifestyle

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The 1040ez Forms 2012

1040ez forms 2012 1. 1040ez forms 2012   Organizations Subject to the Tax Table of Contents The tax on unrelated business income applies to most organizations exempt from tax under section 501(a). 1040ez forms 2012 These organizations include charitable, religious, scientific, and other organizations described in section 501(c), as well as employees' trusts forming part of pension, profit-sharing, and stock bonus plans described in section 401(a). 1040ez forms 2012 In addition, the following are subject to the tax on unrelated business income. 1040ez forms 2012 Individual retirement arrangements (IRAs), including traditional IRAs, Roth IRAs, Coverdell IRAs, simplified employee pensions (SEP-IRAs), and savings incentive match plans for employees (SIMPLE IRAs). 1040ez forms 2012 State and municipal colleges and universities. 1040ez forms 2012 Qualified state tuition programs. 1040ez forms 2012 Medical savings accounts (MSAs) described in section 220(d). 1040ez forms 2012 Coverdell savings accounts described in section 530. 1040ez forms 2012 U. 1040ez forms 2012 S. 1040ez forms 2012 instrumentalities. 1040ez forms 2012   A corporation that is a U. 1040ez forms 2012 S. 1040ez forms 2012 instrumentality described in section 501(c)(1) is not subject to the tax on unrelated business income if the corporation is organized under an Act of Congress and, under the Act, is exempt from federal income taxes. 1040ez forms 2012 Colleges and universities. 1040ez forms 2012   Colleges and universities that are agencies or instrumentalities of any government or any political subdivision of a government, or that are owned or operated by a government or political subdivision of a government, are subject to the tax on unrelated business income. 1040ez forms 2012 As used here, the word government includes any foreign government (to the extent not contrary to a treaty) and all domestic governments (the United States and any of its possessions, any state, and the District of Columbia). 1040ez forms 2012   The tax is on the unrelated business income of both the universities and colleges themselves and on their wholly owned tax exempt subsidiary organizations. 1040ez forms 2012 It is immaterial whether the business is conducted by the university or by a separately incorporated wholly owned subsidiary. 1040ez forms 2012 If the business activity is unrelated, the income in both instances will be subject to the tax. 1040ez forms 2012 If the primary purpose of a wholly owned subsidiary is to operate or conduct any unrelated trade or business (other than holding title to property and collecting income from it), the subsidiary is not an exempt organization, and this rule does not apply. 1040ez forms 2012 Title-holding corporations. 1040ez forms 2012   When an exempt title-holding corporation, described in section 501(c)(2), pays any of its net income to an organization that itself is exempt from tax under section 501(a) (or would pay such an amount except that the expenses of collecting its income exceed the amount collected) and files a consolidated return with that organization, the title-holding corporation is treated, for unrelated business income tax purposes, as organized and operated for the same purposes as the exempt payee organization. 1040ez forms 2012   Thus, a title-holding corporation whose source of income is related to the exempt purposes of the payee organization is not subject to the unrelated business income tax if the holding corporation and the payee organization file a consolidated return. 1040ez forms 2012 However, if the source of the income is not so related, the title-holding corporation is subject to unrelated business income tax. 1040ez forms 2012 Example. 1040ez forms 2012 X, a title-holding corporation, is required to distribute its net income to A, an exempt organization. 1040ez forms 2012 During the tax year, X realizes net income of $900,000 from source M, which is related to A's exempt function. 1040ez forms 2012 X also receives $100,000 from source N, which is not related to A's exempt function. 1040ez forms 2012 X and A file a consolidated return for the tax year. 1040ez forms 2012 X has unrelated business income of $100,000. 1040ez forms 2012 Prev  Up  Next   Home   More Online Publications