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File taxes online for 2012 37. File taxes online for 2012   Other Credits Table of Contents What's New Introduction Useful Items - You may want to see: Nonrefundable CreditsAdoption Credit Alternative Motor Vehicle Credit Alternative Fuel Vehicle Refueling Property Credit Credit to Holders of Tax Credit Bonds Foreign Tax Credit Mortgage Interest Credit Nonrefundable Credit for Prior Year Minimum Tax Plug-in Electric Drive Motor Vehicle Credit Residential Energy Credits Retirement Savings Contributions Credit (Saver's Credit) Refundable CreditsCredit for Tax on Undistributed Capital Gain Health Coverage Tax Credit Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld What's New Adoption credit. File taxes online for 2012  The maximum adoption credit is $12,970 for 2013. File taxes online for 2012 See Adoption Credit . File taxes online for 2012 Plug-in electric vehicle credit. File taxes online for 2012  This credit has expired. File taxes online for 2012 Credit for prior year minimum tax. File taxes online for 2012  The refundable portion of the credit for prior year minimum tax has expired. File taxes online for 2012 Excess withholding of social security and railroad retirement tax. File taxes online for 2012  Social security tax and tier 1 railroad retirement (RRTA) tax were both withheld during 2013 at a rate of 6. File taxes online for 2012 2% of wages up to $113,700. File taxes online for 2012 If you worked for more than one employer and had too much social security or RRTA tax withheld during 2013, you may be entitled to a credit for the excess withholding. File taxes online for 2012 See Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld . File taxes online for 2012 Introduction This chapter discusses the following nonrefundable credits. File taxes online for 2012 Adoption credit. File taxes online for 2012 Alternative motor vehicle credit. File taxes online for 2012 Alternative fuel vehicle refueling property credit. File taxes online for 2012 Credit to holders of tax credit bonds. File taxes online for 2012 Foreign tax credit. File taxes online for 2012 Mortgage interest credit. File taxes online for 2012 Nonrefundable credit for prior year minimum tax. File taxes online for 2012 Plug-in electric drive motor vehicle credit. File taxes online for 2012 Residential energy credits. File taxes online for 2012 Retirement savings contributions credit. File taxes online for 2012 This chapter also discusses the following refundable credits. File taxes online for 2012 Credit for tax on undistributed capital gain. File taxes online for 2012 Health coverage tax credit. File taxes online for 2012 Credit for excess social security tax or railroad retirement tax withheld. File taxes online for 2012 Several other credits are discussed in other chapters in this publication. File taxes online for 2012 Child and dependent care credit (chapter 32). File taxes online for 2012 Credit for the elderly or the disabled (chapter 33). File taxes online for 2012 Child tax credit (chapter 34). File taxes online for 2012 Education credits (chapter 35). File taxes online for 2012 Earned income credit (chapter 36). File taxes online for 2012 Nonrefundable credits. File taxes online for 2012   The first part of this chapter, Nonrefundable Credits , covers ten credits that you subtract from your tax. File taxes online for 2012 These credits may reduce your tax to zero. File taxes online for 2012 If these credits are more than your tax, the excess is not refunded to you. File taxes online for 2012 Refundable credits. File taxes online for 2012   The second part of this chapter, Refundable Credits , covers three credits that are treated as payments and are refundable to you. File taxes online for 2012 These credits are added to the federal income tax withheld and any estimated tax payments you made. File taxes online for 2012 If this total is more than your total tax, the excess will be refunded to you. File taxes online for 2012 Useful Items - You may want to see: Publication 502 Medical and Dental Expenses 514 Foreign Tax Credit for  Individuals 530 Tax Information for Homeowners 590 Individual Retirement Arrangements (IRAs) Form (and Instructions) 1116 Foreign Tax Credit 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains 5695 Residential Energy Credits 8396 Mortgage Interest Credit 8801 Credit For Prior Year Minimum Tax — Individuals, Estates, and Trusts 8828 Recapture of Federal Mortgage Subsidy 8839 Qualified Adoption Expenses 8880 Credit for Qualified Retirement Savings Contributions 8885 Health Coverage Tax Credit 8910 Alternative Motor Vehicle Credit 8911 Alternative Fuel Vehicle Refueling Property Credit 8912 Credit to Holders of Tax Credit Bonds 8936 Qualified Plug-in Electric Drive Motor Vehicle Credit Nonrefundable Credits The credits discussed in this part of the chapter can reduce your tax. File taxes online for 2012 However, if the total of these credits is more than your tax, the excess is not refunded to you. File taxes online for 2012 Adoption Credit You may be able to take a tax credit of up to $12,970 for qualified expenses paid to adopt an eligible child. File taxes online for 2012 The credit may be allowed for the adoption of a child with special needs even if you do not have any qualified expenses. File taxes online for 2012 If your modified adjusted gross income (AGI) is more than $194,580, your credit is reduced. File taxes online for 2012 If your modified AGI is $234,580 or more, you cannot take the credit. File taxes online for 2012 Qualified adoption expenses. File taxes online for 2012   Qualified adoption expenses are reasonable and necessary expenses directly related to, and whose principal purpose is for, the legal adoption of an eligible child. File taxes online for 2012 These expenses include: Adoption fees, Court costs, Attorney fees, Travel expenses (including amounts spent for meals and lodging) while away from home, and Re-adoption expenses to adopt a foreign child. File taxes online for 2012 Nonqualified expenses. File taxes online for 2012   Qualified adoption expenses do not include expenses: That violate state or federal law, For carrying out any surrogate parenting arrangement, For the adoption of your spouse's child, For which you received funds under any federal, state, or local program, Allowed as a credit or deduction under any other federal income tax rule, or Paid or reimbursed by your employer or any other person or organization. File taxes online for 2012 Eligible child. File taxes online for 2012   The term “eligible child” means any individual: Under 18 years old, or Physically or mentally incapable of caring for himself or herself. File taxes online for 2012 Child with special needs. File taxes online for 2012   An eligible child is a child with special needs if all three of the following apply. File taxes online for 2012 The child was a citizen or resident of the United States (including U. File taxes online for 2012 S. File taxes online for 2012 possessions) at the time the adoption process began. File taxes online for 2012 A state (including the District of Columbia) has determined that the child cannot or should not be returned to his or her parents' home. File taxes online for 2012 The state has determined that the child will not be adopted unless assistance is provided to the adoptive parents. File taxes online for 2012 Factors used by states to make this determination include: The child's ethnic background, The child's age, Whether the child is a member of a minority or sibling group, and Whether the child has a medical condition or a physical, mental, or emotional handicap. File taxes online for 2012 When to take the credit. File taxes online for 2012   Generally, until the adoption becomes final, you take the credit in the year after your qualified expenses were paid or incurred. File taxes online for 2012 If the adoption becomes final, you take the credit in the year your expenses were paid or incurred. File taxes online for 2012 See the Instructions for Form 8839 for more specific information on when to take the credit. File taxes online for 2012 Foreign child. File taxes online for 2012   If the child is not a U. File taxes online for 2012 S. File taxes online for 2012 citizen or resident at the time the adoption process began, you cannot take the credit unless the adoption becomes final. File taxes online for 2012 You treat all adoption expenses paid or incurred in years before the adoption becomes final as paid or incurred in the year it becomes final. File taxes online for 2012 How to take the credit. File taxes online for 2012   Figure your 2013 nonrefundable credit and any carryforward to 2014 on Form 8839 and attach it to your Form 1040. File taxes online for 2012 Include the credit in your total for Form 1040, line 53. File taxes online for 2012 Check box c and enter “8839” on the line next to that box. File taxes online for 2012 More information. File taxes online for 2012   For more information, see the Instructions for Form 8839. File taxes online for 2012 Alternative Motor Vehicle Credit You may be able to take this credit if you place a qualified fuel cell vehicle in service in 2013. File taxes online for 2012 Amount of credit. File taxes online for 2012   Generally, you can rely on the manufacturer's certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and the amount of the credit for which it qualifies. File taxes online for 2012 In the case of a foreign manufacturer, you generally can rely on its domestic distributor's certification to the IRS. File taxes online for 2012   Ordinarily the amount of the credit is 100% of the manufacturer's (or domestic distributor's) certification to the IRS of the maximum credit allowable. File taxes online for 2012 How to take the credit. File taxes online for 2012   To take the credit, you must complete Form 8910 and attach it to your Form 1040. File taxes online for 2012 Include the credit in your total for Form 1040, line 53. File taxes online for 2012 Check box c and enter “8910” on the line next to that box. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit, see the Instructions for Form 8910. File taxes online for 2012 Alternative Fuel Vehicle Refueling Property Credit You may be able to take a credit if you place qualified alternative fuel vehicle refueling property in service in 2013. File taxes online for 2012 Qualified alternative fuel vehicle refueling property. File taxes online for 2012   Qualified alternative fuel vehicle refueling property is any property (other than a building or its structural components) used for either of the following. File taxes online for 2012 To store or dispense alternative fuel into the fuel tank of a motor vehicle propelled by the fuel, but only if the storage or dispensing is at the point where the fuel is delivered into that tank. File taxes online for 2012 To recharge an electric vehicle, but only if the recharging property is located at the point where the vehicle is recharged. File taxes online for 2012   The following are alternative fuels. File taxes online for 2012 Any fuel at least 85% of the volume of which consists of one or more of the following: ethanol, natural gas, compressed natural gas, liquefied natural gas, liquefied petroleum gas, or hydrogen. File taxes online for 2012 Any mixture which consists of two or more of the following: biodiesel, diesel fuel, or kerosene, and at least 20% of the volume of which consists of biodiesel determined without regard to any kerosene. File taxes online for 2012 Electricity. File taxes online for 2012 Amount of the credit. File taxes online for 2012   For personal use property, the credit is generally the smaller of 30% of the property's cost or $1,000. File taxes online for 2012 For business use property, the credit is generally the smaller of 30% of the property's cost or $30,000. File taxes online for 2012 How to take the credit. File taxes online for 2012   To take the credit, you must complete Form 8911 and attach it to your Form 1040. File taxes online for 2012 Include the credit in your total for Form 1040, line 53. File taxes online for 2012 Check box c and enter “8911” on the line next to that box. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit, see the Form 8911 instructions. File taxes online for 2012 Credit to Holders of Tax Credit Bonds Tax credit bonds are bonds in which the holder receives a tax credit in lieu of some or all of the interest on the bond. File taxes online for 2012 You may be able to take a credit if you are a holder of one of the following bonds. File taxes online for 2012 Clean renewable energy bonds (issued before 2010). File taxes online for 2012 New clean renewable energy bonds. File taxes online for 2012 Qualified energy conservation bonds. File taxes online for 2012 Qualified school construction bonds. File taxes online for 2012 Qualified zone academy bonds. File taxes online for 2012 Build America bonds. File taxes online for 2012 In some instances, an issuer may elect to receive a credit for interest paid on the bond. File taxes online for 2012 If the issuer makes this election, you cannot also claim a credit. File taxes online for 2012 Interest income. File taxes online for 2012   The amount of any tax credit allowed (figured before applying tax liability limits) must be included as interest income on your tax return. File taxes online for 2012 How to take the credit. File taxes online for 2012   Complete Form 8912 and attach it to your Form 1040. File taxes online for 2012 Include the credit in your total for Form 1040, line 53. File taxes online for 2012 Check box c and enter “8912” on the line next to that box. File taxes online for 2012 More information. File taxes online for 2012   For more information, see the Instructions for Form 8912. File taxes online for 2012 Foreign Tax Credit You generally can choose to take income taxes you paid or accrued during the year to a foreign country or U. File taxes online for 2012 S. File taxes online for 2012 possession as a credit against your U. File taxes online for 2012 S. File taxes online for 2012 income tax. File taxes online for 2012 Or, you can deduct them as an itemized deduction (see chapter 22). File taxes online for 2012 You cannot take a credit (or deduction) for foreign income taxes paid on income that you exclude from U. File taxes online for 2012 S. File taxes online for 2012 tax under any of the following. File taxes online for 2012 Foreign earned income exclusion. File taxes online for 2012 Foreign housing exclusion. File taxes online for 2012 Income from Puerto Rico exempt from U. File taxes online for 2012 S. File taxes online for 2012 tax. File taxes online for 2012 Possession exclusion. File taxes online for 2012 Limit on the credit. File taxes online for 2012   Unless you can elect not to file Form 1116 (see Exception , later), your foreign tax credit cannot be more than your U. File taxes online for 2012 S. File taxes online for 2012 tax liability (Form 1040, line 44), multiplied by a fraction. File taxes online for 2012 The numerator of the fraction is your taxable income from sources outside the United States. File taxes online for 2012 The denominator is your total taxable income from U. File taxes online for 2012 S. File taxes online for 2012 and foreign sources. File taxes online for 2012 See Publication 514 for more information. File taxes online for 2012 How to take the credit. File taxes online for 2012   Complete Form 1116 and attach it to your Form 1040. File taxes online for 2012 Enter the credit on Form 1040, line 47. File taxes online for 2012 Exception. File taxes online for 2012   You do not have to complete Form 1116 to take the credit if all of the following apply. File taxes online for 2012 All of your gross foreign source income was from interest and dividends and all of that income and the foreign tax paid on it were reported to you on Form 1099-INT, Form 1099-DIV, or Schedule K-1 (or substitute statement). File taxes online for 2012 If you had dividend income from shares of stock, you held those shares for at least 16 days. File taxes online for 2012 You are not filing Form 4563 or excluding income from sources within Puerto Rico. File taxes online for 2012 The total of your foreign taxes was not more than $300 (not more than $600 if married filing jointly). File taxes online for 2012 All of your foreign taxes were: Legally owed and not eligible for a refund, and Paid to countries that are recognized by the United States and do not support terrorism. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit and these requirements, see the Instructions for Form 1116. File taxes online for 2012 Mortgage Interest Credit The mortgage interest credit is intended to help lower-income individuals own a home. File taxes online for 2012 If you qualify, you can take the credit each year for part of the home mortgage interest you pay. File taxes online for 2012 Who qualifies. File taxes online for 2012   You may be eligible for the credit if you were issued a qualified mortgage credit certificate (MCC) from your state or local government. File taxes online for 2012 Generally, an MCC is issued only in connection with a new mortgage for the purchase of your main home. File taxes online for 2012 Amount of credit. File taxes online for 2012   Figure your credit on Form 8396. File taxes online for 2012 If your mortgage loan amount is equal to (or smaller than) the certified indebtedness (loan) amount shown on your MCC, enter on Form 8396, line 1, all the interest you paid on your mortgage during the year. File taxes online for 2012   If your mortgage loan amount is larger than the certified indebtedness amount shown on your MCC, you can figure the credit on only part of the interest you paid. File taxes online for 2012 To find the amount to enter on line 1, multiply the total interest you paid during the year on your mortgage by the following fraction. File taxes online for 2012      Certified indebtedness amount on your MCC     Original amount of your mortgage   Limit based on credit rate. File taxes online for 2012   If the certificate credit rate is more than 20%, the credit you are allowed cannot be more than $2,000. File taxes online for 2012 If two or more persons (other than a married couple filing a joint return) hold an interest in the home to which the MCC relates, this $2,000 limit must be divided based on the interest held by each person. File taxes online for 2012 See Publication 530 for more information. File taxes online for 2012 Carryforward. File taxes online for 2012   Your credit (after applying the limit based on the credit rate) is also subject to a limit based on your tax that is figured using Form 8396. File taxes online for 2012 If your allowable credit is reduced because of this tax liability limit, you can carry forward the unused portion of the credit to the next 3 years or until used, whichever comes first. File taxes online for 2012   If you are subject to the $2,000 limit because your certificate credit rate is more than 20%, you cannot carry forward any amount more than $2,000 (or your share of the $2,000 if you must divide the credit). File taxes online for 2012 How to take the credit. File taxes online for 2012    Figure your 2013 credit and any carryforward to 2014 on Form 8396, and attach it to your Form 1040. File taxes online for 2012 Be sure to include any credit carryforward from 2010, 2011, and 2012. File taxes online for 2012   Include the credit in your total for Form 1040, line 53. File taxes online for 2012 Check box c and enter “8396” on the line next to that box. File taxes online for 2012 Reduced home mortgage interest deduction. File taxes online for 2012   If you itemize your deductions on Schedule A (Form 1040), you must reduce your home mortgage interest deduction by the amount of the mortgage interest credit shown on Form 8396, line 3. File taxes online for 2012 You must do this even if part of that amount is to be carried forward to 2014. File taxes online for 2012 For more information about the home mortgage interest deduction, see chapter 23. File taxes online for 2012 Recapture of federal mortgage subsidy. File taxes online for 2012   If you received an MCC with your mortgage loan, you may have to recapture (pay back) all or part of the benefit you received from that program. File taxes online for 2012 The recapture may be required if you sell or dispose of your home at a gain during the first 9 years after the date you closed your mortgage loan. File taxes online for 2012 See the Instructions for Form 8828 and chapter 15 for more information. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit, see the Form 8396 instructions. File taxes online for 2012 Nonrefundable Credit for Prior Year Minimum Tax The tax laws give special treatment to some kinds of income and allow special deductions and credits for some kinds of expenses. File taxes online for 2012 If you benefit from these laws, you may have to pay at least a minimum amount of tax in addition to any other tax on these items. File taxes online for 2012 This is called the alternative minimum tax. File taxes online for 2012 The special treatment of some items of income and expenses only allows you to postpone paying tax until a later year. File taxes online for 2012 If in prior years you paid alternative minimum tax because of these tax postponement items, you may be able to take a credit for prior year minimum tax against your current year's regular tax. File taxes online for 2012 You may be able to take a credit against your regular tax if for 2012 you had: An alternative minimum tax liability and adjustments or preferences other than exclusion items, A minimum tax credit that you are carrying forward to 2013, or An unallowed qualified electric vehicle credit. File taxes online for 2012 How to take the credit. File taxes online for 2012    Figure your 2013 nonrefundable credit (if any), and any carryforward to 2014 on Form 8801, and attach it to your Form 1040. File taxes online for 2012 Include the credit in your total for Form 1040, line 53, and check box b. File taxes online for 2012 You can carry forward any unused credit for prior year minimum tax to later years until it is completely used. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit, see the Instructions for Form 8801. File taxes online for 2012 Plug-in Electric Drive Motor Vehicle Credit You may be able to take this credit if you placed in service for business or personal use a qualified plug-in electric drive motor vehicle or a qualified two- or three-wheeled plug-in electric vehicle in 2013 and you meet some other requirements. File taxes online for 2012 Qualified plug-in electric drive motor vehicle. File taxes online for 2012   This is a new vehicle with at least four wheels that: Is propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of not less than 4 kilowatt hours and is capable of being recharged from an external source of electricity, and Has a gross vehicle weight of less than 14,000 pounds. File taxes online for 2012 Qualified two- or three-wheeled plug-in electric vehicle. File taxes online for 2012   This is a new vehicle with two or three wheels that: Is capable of achieving a speed of 45 miles per hour or greater, Is propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of not less than 2. File taxes online for 2012 5 kilowatt hours and is capable of being recharged from an external source of electricity, and Has a gross vehicle weight of less than 14,000 pounds. File taxes online for 2012 Certification and other requirements. File taxes online for 2012   Generally, you can rely on the manufacturer's (or, in the case of a foreign manufacturer, its domestic distributor's) certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and, if applicable, the amount of the credit for which it qualifies. File taxes online for 2012 However, if the IRS publishes an announcement that the certification for any specific make, model, and model year vehicle has been withdrawn, you cannot rely on the certification for such a vehicle purchased after the date of publication of the withdrawal announcement. File taxes online for 2012   The following requirements must also be met to qualify for the credit. File taxes online for 2012 You are the owner of the vehicle. File taxes online for 2012 If the vehicle is leased, only the lessor, and not the lessee, is entitled to the credit. File taxes online for 2012 You placed the vehicle in service during 2013. File taxes online for 2012 The vehicle is manufactured primarily for use on public streets, roads, and highways. File taxes online for 2012 The original use of the vehicle began with you. File taxes online for 2012 You acquired the vehicle for your use or to lease to others, and not for resale. File taxes online for 2012 In the case of the qualified two- or three-wheeled plug-in electric vehicle, the vehicle is acquired after 2011 and before 2014. File taxes online for 2012 You use the vehicle primarily in the United States. File taxes online for 2012 How to take the credit. File taxes online for 2012   To take the credit, you must complete Form 8936 and attach it to your Form 1040. File taxes online for 2012 Include the credit in your total for Form 1040, line 53. File taxes online for 2012 Check box c and enter “8936” on the line next to that box. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit, see the Form 8936 instructions. File taxes online for 2012 Residential Energy Credits You may be able to take one or both of the following credits if you made energy saving improvements to your home located in the United States in 2013. File taxes online for 2012 Nonbusiness energy property credit. File taxes online for 2012 Residential energy efficient property credit. File taxes online for 2012 If you are a member of a condominium management association for a condominium you own or a tenant-stockholder in a cooperative housing corporation, you are treated as having paid your proportionate share of any costs of the association or corporation for purposes of these credits. File taxes online for 2012 Nonbusiness energy property credit. File taxes online for 2012   You may be able to take a credit equal to the sum of: 10% of the amount paid or incurred for qualified energy efficiency improvements installed during 2013, and Any residential energy property costs paid or incurred in 2013. File taxes online for 2012   There is a lifetime limit of $500 for all years after 2005, of which only $200 can be for windows; $50 for any advanced main air circulating fan; $150 for any qualified natural gas, propane, or oil furnace or hot water boiler; and $300 for any item of energy efficient building property. File taxes online for 2012    If the total of nonbusiness energy property credits you have taken in previous years (after 2005) is more than $500, you cannot take this credit in 2013. File taxes online for 2012   Qualified energy efficiency improvements are the following improvements that are new, can be expected to remain in use at least 5 years, and meet certain requirements for energy efficiency. File taxes online for 2012 Any insulation material or system that is specifically and primarily designed to reduce heat loss or gain of a home. File taxes online for 2012 Exterior window (including skylights). File taxes online for 2012 Exterior doors. File taxes online for 2012 Any metal or asphalt roof that has appropriate pigmented coatings or cooling granules specifically and primarily designed to reduce heat gain of the home. File taxes online for 2012   Residential energy property is any of the following. File taxes online for 2012 Certain electric heat pump water heaters; electric heat pumps; central air conditioners; natural gas, propane, or oil water heater; and stoves that use biomass fuel. File taxes online for 2012 Qualified natural gas, propane, or oil furnaces; and qualified natural gas, propane, or oil hot water boilers. File taxes online for 2012 Certain advanced main air circulating fans used in natural gas, propane, or oil furnaces. File taxes online for 2012 Residential energy efficient property credit. File taxes online for 2012   You may be able to take a credit of 30% of your costs of qualified solar electric property, solar water heating property, fuel cell property, small wind energy property, and geothermal heat pump property. File taxes online for 2012 The credit amount for costs paid for qualified fuel cell property is limited to $500 for each one-half kilowatt of capacity of the property. File taxes online for 2012 Basis reduction. File taxes online for 2012   You must reduce the basis of your home by the amount of any credit allowed. File taxes online for 2012 How to take the credit. File taxes online for 2012   Complete Form 5695 and attach it to your Form 1040. File taxes online for 2012 Enter the credit on Form 1040, line 52. File taxes online for 2012 More information. File taxes online for 2012   For more information on these credits, see the Form 5695 instructions. File taxes online for 2012 Retirement Savings Contributions Credit (Saver's Credit) You may be able to take this credit if you, or your spouse if filing jointly, made: Contributions (other than rollover contributions) to a traditional or Roth IRA, Elective deferrals to a 401(k) or 403(b) plan (including designated Roth contributions) or to a governmental 457, SEP, or SIMPLE plan, Voluntary employee contributions to a qualified retirement plan (including the federal Thrift Savings Plan), or Contributions to a 501(c)(18)(D) plan. File taxes online for 2012 However, you cannot take the credit if either of the following applies. File taxes online for 2012 The amount on Form 1040, line 38, or Form 1040A, line 22, is more than $29,500 ($44,250 if head of household; $59,000 if married filing jointly). File taxes online for 2012 The person(s) who made the qualified contribution or elective deferral (a) was born after January 1, 1996, (b) is claimed as a dependent on someone else's 2013 tax return, or (c) was a student (defined next). File taxes online for 2012 Student. File taxes online for 2012   You were a student if during any part of 5 calendar months of 2013 you: Were enrolled as a full-time student at a school, or Took a full-time, on-farm training course given by a school or a state, county, or local government agency. File taxes online for 2012 School. File taxes online for 2012   A school includes a technical, trade, or mechanical school. File taxes online for 2012 It does not include an on-the-job training course, correspondence school, or school offering courses only through the Internet. File taxes online for 2012 How to take the credit. File taxes online for 2012   Figure the credit on Form 8880. File taxes online for 2012 Enter the credit on your Form 1040, line 50, or your Form 1040A, line 32, and attach Form 8880 to your return. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit, see the Form 8880 instructions. File taxes online for 2012 Refundable Credits The credits discussed in this part of the chapter are treated as payments of tax. File taxes online for 2012 If the total of these credits, withheld federal income tax, and estimated tax payments is more than your total tax, the excess can be refunded to you. File taxes online for 2012 Credit for Tax on Undistributed Capital Gain You must include in your income any amounts that regulated investment companies (commonly called mutual funds) or real estate investment trusts (REITs) allocated to you as capital gain distributions, even if you did not actually receive them. File taxes online for 2012 If the mutual fund or REIT paid a tax on the capital gain, you are allowed a credit for the tax since it is considered paid by you. File taxes online for 2012 The mutual fund or REIT will send you Form 2439 showing your share of the undistributed capital gains and the tax paid, if any. File taxes online for 2012 How to take the credit. File taxes online for 2012   To take the credit, attach Copy B of Form 2439 to your Form 1040. File taxes online for 2012 Include the amount from box 2 of your Form 2439 in the total for Form 1040, line 71, and check box a. File taxes online for 2012 More information. File taxes online for 2012   See Capital Gain Distributions in chapter 8 for more information on undistributed capital gains. File taxes online for 2012 Health Coverage Tax Credit You may be able to take this credit for any month in which all the following statements were true on the first day of the month. File taxes online for 2012 You were an eligible trade adjustment assistance (TAA) recipient, alternative TAA (ATAA) recipient, reemployment TAA (RTAA) recipient, or Pension Benefit Guaranty Corporation (PBGC) pension recipient (defined later); or you were a qualified family member of one of these individuals when the individual died or you finalized a divorce with one of these individuals. File taxes online for 2012 You and/or your family members were covered by a qualified health insurance plan for which you paid the entire premiums, or your portion of the premiums, directly to your health plan or to “U. File taxes online for 2012 S. File taxes online for 2012 Treasury–HCTC. File taxes online for 2012 ” You were not enrolled in Medicare Part A, B, or C, or you were enrolled in Medicare but your family member(s) qualified for the HCTC. File taxes online for 2012 You were not enrolled in Medicaid or the Children's Health Insurance Program (CHIP). File taxes online for 2012 You were not enrolled in the Federal Employees Health Benefits program (FEHBP) or eligible to receive benefits under the U. File taxes online for 2012 S. File taxes online for 2012 military health system (TRICARE). File taxes online for 2012 You were not imprisoned under federal, state, or local authority. File taxes online for 2012 Your employer did not pay 50% or more of the cost of coverage. File taxes online for 2012 You did not receive a 65% COBRA premium reduction from your former employer or COBRA administrator. File taxes online for 2012 But, you cannot take the credit if you can be claimed as a dependent on someone else's 2013 tax return. File taxes online for 2012 If you meet all of these conditions, you may be able to take a credit of up to 72. File taxes online for 2012 5% of the amount you paid directly to a qualified health plan for you and any qualifying family members. File taxes online for 2012 You cannot take the credit for insurance premiums on coverage that was actually paid for with a National Emergency Grant. File taxes online for 2012 The amount you paid for qualified health insurance coverage must be reduced by any Archer MSA and health savings account distributions used to pay for the coverage. File taxes online for 2012 You can take this credit on your tax return or have it paid on your behalf in advance to your insurance company. File taxes online for 2012 If the credit is paid on your behalf in advance, that amount will reduce the amount of the credit you can take on your tax return. File taxes online for 2012 TAA recipient. File taxes online for 2012   You were an eligible TAA recipient on the first day of the month if, for any day in that month or the prior month, you: Received a trade readjustment allowance, or Would have been entitled to receive such an allowance except that you had not exhausted all rights to any unemployment insurance (except additional compensation that is funded by a state and is not reimbursed from any federal funds) to which you were entitled (or would be entitled if you applied). File taxes online for 2012 Example. File taxes online for 2012 You received a trade adjustment allowance for January 2013. File taxes online for 2012 You were an eligible TAA recipient on the first day of January and February. File taxes online for 2012 Alternative TAA recipient. File taxes online for 2012   You were an eligible alternative TAA recipient on the first day of the month if, for that month or the prior month, you received benefits under an alternative trade adjustment assistance program for older workers established by the Department of Labor. File taxes online for 2012 Example. File taxes online for 2012 You received benefits under an alternative trade adjustment assistance program for older workers for October 2013. File taxes online for 2012 The program was established by the Department of Labor. File taxes online for 2012 You were an eligible alternative TAA recipient on the first day of October and November. File taxes online for 2012 RTAA recipient. File taxes online for 2012   You were an eligible RTAA recipient on the first day of the month if, for that month or the prior month, you received benefits under a reemployment trade adjustment assistance program for older workers established by the Department of Labor. File taxes online for 2012 PBGC pension recipient. File taxes online for 2012   You were an eligible PBGC pension recipient on the first day of the month, if both of the following apply. File taxes online for 2012 You were age 55 or older on the first day of the month. File taxes online for 2012 You received a benefit for that month paid by the PBGC under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). File taxes online for 2012 If you received a lump-sum payment from the PBGC after August 5, 2002, you meet item (2) above for any month that you would have received a PBGC benefit if you had not received the lump-sum payment. File taxes online for 2012 How to take the credit. File taxes online for 2012   To take the credit, complete Form 8885 and attach it to your Form 1040. File taxes online for 2012 Include your credit in the total for Form 1040, line 71, and check box c. File taxes online for 2012   You must attach health insurance bills (or COBRA payment coupons) and proof of payment for any amounts you include on Form 8885, line 2. File taxes online for 2012 For details, see Publication 502 or Form 8885. File taxes online for 2012 More information. File taxes online for 2012   For definitions and special rules, including those relating to qualified health insurance plans, qualifying family members, the effect of certain life events, and employer-sponsored health insurance plans, see Publication 502 and the Form 8885 instructions. File taxes online for 2012 Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld Most employers must withhold social security tax from your wages. File taxes online for 2012 If you work for a railroad employer, that employer must withhold tier 1 railroad retirement (RRTA) tax and tier 2 RRTA tax. File taxes online for 2012 If you worked for two or more employers in 2013, you may have had too much social security tax withheld from your pay. File taxes online for 2012 If one or more of those employers was a railroad employer, too much tier 1 RRTA tax may also have been withheld at the 6. File taxes online for 2012 2% rate. File taxes online for 2012 You can claim the excess social security or tier 1 RRTA tax as a credit against your income tax when you file your return. File taxes online for 2012 For the tier 1 RRTA tax, only use the portion of the tier 1 RRTA tax that was taxed at the 6. File taxes online for 2012 2% rate when figuring if excess tier 1 RRTA tax was withheld; do not include any portion of the tier 1 RRTA tax that was withheld at the Medicare tax rate (1. File taxes online for 2012 45%) or the Additional Medicare Tax rate (. File taxes online for 2012 9%). File taxes online for 2012 The following table shows the maximum amount of wages subject to tax and the maximum amount of tax that should have been withheld for 2013. File taxes online for 2012 Type of tax Maximum  wages subject to tax Maximum tax that should have been withheld Social security or RRTA tier 1 $113,700 $7,049. File taxes online for 2012 40 RRTA tier 2 $84,300 $3,709. File taxes online for 2012 20 All wages are subject to Medicare tax withholding. File taxes online for 2012   Use Form 843, Claim for Refund and Request for Abatement, to claim a refund of excess tier 2 RRTA tax. File taxes online for 2012 Be sure to attach a copy of all of your W-2 forms. File taxes online for 2012 Use Worksheet 3-3 in Publication 505, Tax Withholding and Estimated Tax, to help you figure the excess amount. File taxes online for 2012 Employer's error. File taxes online for 2012   If any one employer withheld too much social security or tier 1 RRTA tax, you cannot take the excess as a credit against your income tax. File taxes online for 2012 The employer should adjust the tax for you. File taxes online for 2012 If the employer does not adjust the overcollection, you can file a claim for refund using Form 843. File taxes online for 2012 Joint return. File taxes online for 2012   If you are filing a joint return, you cannot add the social security or tier 1 RRTA tax withheld from your spouse's wages to the amount withheld from your wages. File taxes online for 2012 Figure the withholding separately for you and your spouse to determine if either of you has excess withholding. File taxes online for 2012 How to figure the credit if you did not work for a railroad. File taxes online for 2012   If you did not work for a railroad during 2013, figure the credit as follows: 1. File taxes online for 2012 Add all social security tax withheld (but not more than $7,049. File taxes online for 2012 40 for each employer). File taxes online for 2012 Enter the total here   2. File taxes online for 2012 Enter any uncollected social security tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT”   3. File taxes online for 2012 Add lines 1 and 2. File taxes online for 2012 If $7,049. File taxes online for 2012 40 or less, stop here. File taxes online for 2012 You cannot take  the credit   4. File taxes online for 2012 Social security tax limit 7,049. File taxes online for 2012 40 5. File taxes online for 2012 Credit. File taxes online for 2012 Subtract line 4 from line 3. File taxes online for 2012 Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $ Example. File taxes online for 2012 You are married and file a joint return with your spouse who had no gross income in 2013. File taxes online for 2012 During 2013, you worked for the Brown Technology Company and earned $60,000 in wages. File taxes online for 2012 Social security tax of $3,720 was withheld. File taxes online for 2012 You also worked for another employer in 2013 and earned $55,000 in wages. File taxes online for 2012 $3,410 of social security tax was withheld from these wages. File taxes online for 2012 Because you worked for more than one employer and your total wages were more than $113,700, you can take a credit of $80. File taxes online for 2012 60 for the excess social security tax withheld. File taxes online for 2012 1. File taxes online for 2012 Add all social security tax withheld (but not more than $7,049. File taxes online for 2012 40 for each employer). File taxes online for 2012 Enter the total here $7,130. File taxes online for 2012 00 2. File taxes online for 2012 Enter any uncollected social security tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT” -0- 3. File taxes online for 2012 Add lines 1 and 2. File taxes online for 2012 If $7,049. File taxes online for 2012 40 or less, stop here. File taxes online for 2012 You cannot take the credit 7,130. File taxes online for 2012 00 4. File taxes online for 2012 Social security tax limit 7,049. File taxes online for 2012 40 5. File taxes online for 2012 Credit. File taxes online for 2012 Subtract line 4 from line 3. File taxes online for 2012 Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $80. File taxes online for 2012 60 How to figure the credit if you worked for a railroad. File taxes online for 2012   If you were a railroad employee at any time during 2013, figure the credit as follows: 1. File taxes online for 2012 Add all social security and tier 1 RRTA tax withheld at the 6. File taxes online for 2012 2% rate (but not more than $7,049. File taxes online for 2012 40 for each employer). File taxes online for 2012 Enter the total here   2. File taxes online for 2012 Enter any uncollected social security and tier 1 RRTA tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT”   3. File taxes online for 2012 Add lines 1 and 2. File taxes online for 2012 If $7,049. File taxes online for 2012 40 or less, stop here. File taxes online for 2012 You cannot take  the credit   4. File taxes online for 2012 Social security and tier 1 RRTA  tax limit 7,049. File taxes online for 2012 40 5. File taxes online for 2012 Credit. File taxes online for 2012 Subtract line 4 from line 3. File taxes online for 2012 Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $ How to take the credit. File taxes online for 2012   Enter the credit on Form 1040, line 69, or include it in the total for Form 1040A, line 41. File taxes online for 2012 More information. File taxes online for 2012   For more information on the credit, see Publication 505. File taxes online for 2012 Prev  Up  Next   Home   More Online Publications
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Small Business Tax Workshops and Webinars

Small Business Webinars

The IRS broadcasts webinars on a variety of subjects aimed at educating small business owners on issues affecting them. Online access provides the convenience of viewing webinars whenever and wherever you choose.

Visit Webinars for Small Businesses for a list of upcoming webinars.

Small Business Tax Workshops

Small Business Taxes: The Virtual Workshop is available on online to help new small business owners understand and meet their federal tax obligations.

Small business workshops, designed to help the small business owner understand and fulfill their federal tax responsibilities, are held at various locations throughout the country. Workshops are sponsored and presented by IRS partners specializing in federal tax.

Workshop topics vary from a general overview of taxes to more specific topics such as recordkeeping and retirement plans. Although most are free, some workshops have fees paid directly to the sponsoring organization, not the IRS.

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If you live near a state line, please look for workshops in nearby cities of the bordering state.

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The File Taxes Online For 2012

File taxes online for 2012 5. File taxes online for 2012   Ministers and Church Employees Table of Contents Alternative Limit for Church Employees Changes to Includible Compensation for Most Recent Year of ServiceChanges to Includible Compensation Changes to Years of Service Self-employed ministers and church employees who participate in 403(b) plans generally follow the same rules as other 403(b) plan participants. File taxes online for 2012 This means that if you are a self-employed minister or a church employee, your MAC generally is the lesser of: Your limit on annual additions, or Your limit on elective deferrals. File taxes online for 2012 For most ministers and church employees, the limit on annual additions is figured without any changes. File taxes online for 2012 This means that if you are a minister or church employee, your limit on annual additions generally is the lesser of: $51,000 for 2013 and $52,000 for 2014, or Your includible compensation for your most recent year of service. File taxes online for 2012 Although, in general, the same limit applies, church employees can choose an alternative limit and there are changes in how church employees, foreign missionaries, and self-employed ministers figure includible compensation for the most recent year of service. File taxes online for 2012 This chapter will explain the alternative limit and the changes. File taxes online for 2012 Who is a church employee?   A church employee is anyone who is an employee of a church or a convention or association of churches, including an employee of a tax-exempt organization controlled by or associated with a church or a convention or association of churches. File taxes online for 2012 Alternative Limit for Church Employees If you are a church employee, you can choose to use $10,000 a year as your limit on annual additions, even if your annual additions computed under the general rule is less. File taxes online for 2012 Total contributions over your lifetime under this choice cannot be more than $40,000. File taxes online for 2012 Changes to Includible Compensation for Most Recent Year of Service There are two types of changes in determining includible compensation for the most recent year of service. File taxes online for 2012 They are: Changes in how the includible compensation of foreign missionaries and self-employed ministers is figured, and A change to the years that are counted when figuring the most recent year of service for church employees and self-employed ministers. File taxes online for 2012 Changes to Includible Compensation Includible compensation is figured differently for foreign missionaries and self-employed ministers. File taxes online for 2012 Foreign missionary. File taxes online for 2012   If you are a foreign missionary, your includible compensation includes foreign earned income that may otherwise be excludable from your gross income under section 911. File taxes online for 2012   If you are a foreign missionary, and your adjusted gross income is $17,000 or less, contributions to your 403(b) account will not be treated as exceeding the limit on annual additions if the contributions are not in excess of $3,000. File taxes online for 2012   You are a foreign missionary if you are either a layperson or a duly ordained, commissioned, or licensed minister of a church and you meet both of the following requirements. File taxes online for 2012 You are an employee of a church or convention or association of churches. File taxes online for 2012 You are performing services for the church outside the United States. File taxes online for 2012 Self-employed minister. File taxes online for 2012   If you are a self-employed minister, you are treated as an employee of a tax-exempt organization that is a qualified employer. File taxes online for 2012 Your includible compensation is your net earnings from your ministry minus the contributions made to the retirement plan on your behalf and the deductible portion of your self-employment tax. File taxes online for 2012 Changes to Years of Service Generally, only service with the employer who maintains your 403(b) account can be counted when figuring your limit on annual additions. File taxes online for 2012 Church employees. File taxes online for 2012   If you are a church employee, treat all of your years of service as an employee of a church or a convention or association of churches as years of service with one employer. File taxes online for 2012 Self-employed minister. File taxes online for 2012   If you are a self-employed minister, your years of service include full and part years during which you were self-employed. File taxes online for 2012 Prev  Up  Next   Home   More Online Publications