Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

Free 1040 Ez

Free Tax Return OnlineForm 1040ez 2011H And R Block FreeHow To File 2011 Taxes In 20132006 Taxes OnlineIrs Instructions 1040Free State Tax Preparation And FilingFederal Tax Amendment Form1040 Tax Forms Printable1040a 2012 Tax Form1040 Tax Form For 2012Student Income Tax Return1040ez Form InstructionsTaxes Online FreeFile 2012 Tax ReturnsFiling Taxes Online 1040ezH R Block Tax PreparationWww Freefile Dor In GovState Tax Return OnlineTax Forms 1040ezTaxes For FreeHow Do I Amend My 2013 Tax ReturnHrblock TaxcutTax 1040ezIrs Form 1040a Or 1040ezTax FormsTax Forms 1040 EzHow To Amend Federal Tax ReturnIncome Tax Forms For 2012Us Irs E File FreeFile 2011 State Taxes Online FreeFree 1040ez1040ez Irs InstructionsWww Myfreetaxes Com PhillyH And R FreeIrs Free File 2011Tax Preparation For MilitaryFree Tax Calculator 2011H&r Block Online TaxForm 1040 Ez 2013

Free 1040 Ez

Free 1040 ez 4. Free 1040 ez   Detailed Examples Table of Contents These examples use actual forms to help you prepare your income tax return. Free 1040 ez However, the information shown on the filled-in forms is not from any actual person or scenario. Free 1040 ez Example 1—Mortgage loan modification. Free 1040 ez    In 2007, Nancy Oak bought a main home for $435,000. Free 1040 ez Nancy took out a $420,000 mortgage loan to buy the home and made a down payment of $15,000. Free 1040 ez The loan was secured by the home. Free 1040 ez The mortgage loan was a recourse debt, meaning that Nancy was personally liable for the debt. Free 1040 ez In 2008, Nancy took out a second mortgage loan (also a recourse debt) in the amount of $30,000 that was used to substantially improve her kitchen. Free 1040 ez    In 2011, when the outstanding principal of the first and second mortgage loans was $440,000, Nancy refinanced the two recourse loans into one recourse loan in the amount of $475,000. Free 1040 ez The FMV of Nancy's home at the time of the refinancing was $500,000. Free 1040 ez Nancy used the additional $35,000 debt ($475,000 new mortgage loan minus $440,000 outstanding principal of Nancy's first and second mortgage loans immediately before the refinancing) to pay off personal credit cards and to pay college tuition for her son. Free 1040 ez After the refinancing, Nancy has qualified principal residence indebtedness in the amount of $440,000 because the refinanced debt is qualified principal residence indebtedness only to the extent the amount of debt is not more than the old mortgage principal just before the refinancing. Free 1040 ez   In 2013, Nancy was unable to make her mortgage loan payments. Free 1040 ez On August 31, 2013, when the outstanding balance of her refinanced mortgage loan was still $475,000 and the FMV of the property was $425,000, Nancy's bank agreed to a loan modification (a “workout”) that resulted in a $40,000 reduction in the principal balance of her loan. Free 1040 ez Nancy was neither insolvent nor in bankruptcy at the time of the loan modification. Free 1040 ez   Nancy received a 2013 Form 1099-C from her bank in January 2014 showing canceled debt of $40,000 in box 2. Free 1040 ez Identifiable event code "F" appears in box 6. Free 1040 ez This box shows the reason the creditor has filed Form 1099-C. Free 1040 ez To determine if she must include the canceled debt in her income, Nancy must determine whether she meets any of the exceptions or exclusions that apply to canceled debts. Free 1040 ez Nancy determines that the only exception or exclusion that applies to her is the qualified principal residence indebtedness exclusion. Free 1040 ez   Next, Nancy determines the amount, if any, of the $40,000 of canceled debt that was qualified principal residence indebtedness. Free 1040 ez Although Nancy has $440,000 of qualified principal residence indebtedness, part of her loan ($35,000) was not qualified principal residence indebtedness because it was used to pay off personal credit cards and college tuition for her son. Free 1040 ez Applying the ordering rule, the qualified principal residence indebtedness exclusion applies only to the extent the amount canceled is more than the amount of the debt (immediately before the cancellation) that is not qualified principal residence indebtedness. Free 1040 ez Thus, Nancy can exclude only $5,000 of the canceled debt as qualified principal residence indebtedness ($40,000 amount canceled minus $35,000 nonqualified debt). Free 1040 ez   Because Nancy does not meet any other exception or exclusion, she checks only the box on line 1e of Form 982 and enters $5,000 on line 2. Free 1040 ez Nancy must also enter $5,000 on line 10b and reduce the basis of her main home by the $5,000 she excluded from income, bringing the adjusted basis in her home to $460,000 ($435,000 purchase price plus $30,000 substantial improvement minus $5,000). Free 1040 ez Nancy must also include the $35,000 nonqualified debt portion in income on Form 1040, line 21. Free 1040 ez You can see Nancy's Form 1099-C and a portion of her Form 1040 below. Free 1040 ez Nancy's 2013 Form 1099-C, Cancellation of Debt This image is too large to be displayed in the current screen. Free 1040 ez Please click the link to view the image. Free 1040 ez Form 1099-C, Cancellation of Debt Nancy's 2013 Form 1040 This image is too large to be displayed in the current screen. Free 1040 ez Please click the link to view the image. Free 1040 ez Form 1040, U. Free 1040 ez S. Free 1040 ez Individual Income Tax Nancy's Form 982 This image is too large to be displayed in the current screen. Free 1040 ez Please click the link to view the image. Free 1040 ez Form 982 Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)              Example 2—Mortgage loan foreclosure. Free 1040 ez    In 2005, John and Mary Elm bought a main home for $335,000. Free 1040 ez John and Mary took out a $320,000 mortgage loan to buy the home and made a down payment of $15,000. Free 1040 ez The loan was secured by the home and is a recourse debt, meaning John and Mary are personally liable for the debt. Free 1040 ez   John and Mary became unable to make their mortgage loan payments and on March 1, 2013, when the outstanding balance of the mortgage loan was $315,000 and the FMV of the property was $290,000, the bank foreclosed on the property and simultaneously canceled the remaining mortgage debt. Free 1040 ez Immediately before the foreclosure, John and Mary's only other assets and liabilities were a checking account with a balance of $6,000, retirement savings of $13,000, and credit card debt of $5,500. Free 1040 ez   John and Mary received a 2013 Form 1099-C showing canceled debt of $25,000 in box 2 ($315,000 outstanding balance minus $290,000 FMV) and an FMV of $290,000 in box 7. Free 1040 ez Identifiable event code "D" appears in box 6. Free 1040 ez This box shows the reason the creditor has filed Form 1099-C. Free 1040 ez In order to determine if John and Mary must include the canceled debt in income, they must first determine whether they meet any of the exceptions or exclusions that apply to canceled debts. Free 1040 ez In this example, John and Mary meet both the insolvency and qualified principal residence indebtedness exclusions. Free 1040 ez Their sample Form 1099-C is shown on this page. Free 1040 ez   John and Mary complete the insolvency worksheet and determine that they were insolvent immediately before the cancellation because at that time their liabilities exceeded the FMV of their assets by $11,500 ($320,500 total liabilities minus $309,000 FMV of total assets). Free 1040 ez However, because the entire debt canceled is qualified principal residence indebtedness, the insolvency exclusion only applies if John and Mary elect to apply the insolvency exclusion instead of the qualified principal residence exclusion. Free 1040 ez   John and Mary do not elect to apply the insolvency exclusion instead of the qualified principal residence exclusion because under the insolvency exclusion their exclusion would be limited to the amount by which they were insolvent ($11,500). Free 1040 ez Instead, John and Mary check box 1e of Form 982 to exclude the canceled debt under the qualified principal residence exclusion. Free 1040 ez Under the qualified principal residence exclusion, the amount that John and Mary can exclude is not limited because their qualified principal residence indebtedness is not more than $2 million and no portion of the loan was nonqualified debt. Free 1040 ez As a result, John and Mary enter the full $25,000 of canceled debt on line 2 of Form 982. Free 1040 ez Because John and Mary no longer own the home due to the foreclosure, John and Mary have no remaining basis in the home at the time of the debt cancellation. Free 1040 ez Thus, John and Mary leave line 10b of Form 982 blank. Free 1040 ez   John and Mary must also determine whether they have a gain or loss from the foreclosure. Free 1040 ez John and Mary complete Table 1-1 (shown below) and find that they have a $45,000 loss from the foreclosure. Free 1040 ez Because this loss relates to their home, it is a nondeductible loss. Free 1040 ez   John and Mary's Form 1099-C, Insolvency Worksheet, and Form 982 follow. Free 1040 ez John and Mary's 2013 Form 1099-C, Cancellation of Debt This image is too large to be displayed in the current screen. Free 1040 ez Please click the link to view the image. Free 1040 ez Form 1099-C, Cancellation of Debt Table 1-1. Free 1040 ez Worksheet for Foreclosures and Repossessions (for John and Mary Elm) Part 1. Free 1040 ez Complete Part 1 only if you were personally liable for the debt (even if none of the debt was canceled). Free 1040 ez Otherwise, go to Part 2. Free 1040 ez 1. Free 1040 ez Enter the amount of outstanding debt immediately before the transfer of property reduced by any amount for which you remain personally liable immediately after the transfer of property $315,000. Free 1040 ez 00 2. Free 1040 ez Enter the fair market value of the transferred property $290,000. Free 1040 ez 00 3. Free 1040 ez Ordinary income from the cancellation of debt upon foreclosure or repossession. Free 1040 ez * Subtract line 2 from line 1. Free 1040 ez If less than zero, enter zero. Free 1040 ez Next, go to Part 2 $ 25,000. Free 1040 ez 00 Part 2. Free 1040 ez Gain or loss from foreclosure or repossession. Free 1040 ez   4. Free 1040 ez Enter the smaller of line 1 or line 2. Free 1040 ez If you did not complete Part 1 (because you were not personally liable for the debt), enter the amount of outstanding debt immediately before the transfer of property $290,000. Free 1040 ez 00 5. Free 1040 ez Enter any proceeds you received from the foreclosure sale   6. Free 1040 ez Add line 4 and line 5 $290,000. Free 1040 ez 00 7. Free 1040 ez Enter the adjusted basis of the transferred property $335,000. Free 1040 ez 00 8. Free 1040 ez Gain or loss from foreclosure or repossession. Free 1040 ez Subtract line 7 from line 6 ($ 45,000. Free 1040 ez 00) * The income may not be taxable. Free 1040 ez See chapter 1 for more details. Free 1040 ez Insolvency Worksheet—John and Mary Elm Date debt was canceled (mm/dd/yy) 03/01/13 Part I. Free 1040 ez Total liabilities immediately before the cancellation (do not include the same liability in more than one category) Liabilities (debts) Amount Owed Immediately Before the Cancellation 1. Free 1040 ez Credit card debt $ 5,500 2. Free 1040 ez Mortgage(s) on real property (including first and second mortgages and home equity loans) (mortgage(s) can be on personal residence, any additional residence, or property held for investment or used in a trade or business) $ 315,000 3. Free 1040 ez Car and other vehicle loans $ 4. Free 1040 ez Medical bills owed $ 5. Free 1040 ez Student loans $ 6. Free 1040 ez Accrued or past-due mortgage interest $ 7. Free 1040 ez Accrued or past-due real estate taxes $ 8. Free 1040 ez Accrued or past-due utilities (water, gas, electric) $ 9. Free 1040 ez Accrued or past-due child care costs $ 10. Free 1040 ez Federal or state income taxes remaining due (for prior tax years) $ 11. Free 1040 ez Judgments $ 12. Free 1040 ez Business debts (including those owed as a sole proprietor or partner) $ 13. Free 1040 ez Margin debt on stocks and other debt to purchase or secured by investment assets other than real property $ 14. Free 1040 ez Other liabilities (debts) not included above $ 15. Free 1040 ez Total liabilities immediately before the cancellation. Free 1040 ez Add lines 1 through 14. Free 1040 ez $ 320,500 Part II. Free 1040 ez Fair market value (FMV) of assets owned immediately before the cancellation (do not include the FMV of the same asset in more than one category) Assets FMV Immediately Before  the Cancellation 16. Free 1040 ez Cash and bank account balances $ 6,000 17. Free 1040 ez Real property, including the value of land (can be main home, any additional home, or property held for investment or used in a trade or business) $ 290,000 18. Free 1040 ez Cars and other vehicles $ 19. Free 1040 ez Computers $ 20. Free 1040 ez Household goods and furnishings (for example, appliances, electronics, furniture, etc. Free 1040 ez ) $ 21. Free 1040 ez Tools $ 22. Free 1040 ez Jewelry $ 23. Free 1040 ez Clothing $ 24. Free 1040 ez Books $ 25. Free 1040 ez Stocks and bonds $ 26. Free 1040 ez Investments in coins, stamps, paintings, or other collectibles $ 27. Free 1040 ez Firearms, sports, photographic, and other hobby equipment $ 28. Free 1040 ez Interest in retirement accounts (IRA accounts, 401(k) accounts, and other retirement accounts) $ 13,000 29. Free 1040 ez Interest in a pension plan $ 30. Free 1040 ez Interest in education accounts $ 31. Free 1040 ez Cash value of life insurance $ 32. Free 1040 ez Security deposits with landlords, utilities, and others $ 33. Free 1040 ez Interests in partnerships $ 34. Free 1040 ez Value of investment in a business $ 35. Free 1040 ez Other investments (for example, annuity contracts, guaranteed investment contracts, mutual funds, commodity accounts, interests in hedge funds, and options) $ 36. Free 1040 ez Other assets not included above $ 37. Free 1040 ez FMV of total assets immediately before the cancellation. Free 1040 ez Add lines 16 through 36. Free 1040 ez $ 309,000 Part III. Free 1040 ez Insolvency 38. Free 1040 ez Amount of Insolvency. Free 1040 ez Subtract line 37 from line 15. Free 1040 ez If zero or less, you are not insolvent. Free 1040 ez $ 11,500 John and Mary's Form 982 This image is too large to be displayed in the current screen. Free 1040 ez Please click the link to view the image. Free 1040 ez Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)          Example 3—Mortgage loan foreclosure with debt exceeding $2 million limit. Free 1040 ez    In 2011, Kathy and Frank Willow got married and entered into a contract with Hive Construction Corporation to build a house for $3,000,000 to be used as their main home. Free 1040 ez Kathy and Frank made a $400,000 down payment and took out a $2,600,000 mortgage to finance the remaining cost of the house. Free 1040 ez Kathy and Frank are personally liable for the mortgage loan, which is secured by the home. Free 1040 ez   In November 2013, when the outstanding principal balance on the mortgage loan was $2,500,000, the FMV of the property fell to $1,750,000 and Kathy and Frank abandoned the property by permanently moving out. Free 1040 ez The lender foreclosed on the property and, on December 5, 2013, sold the property to another buyer for $1,750,000. Free 1040 ez On December 26, 2013, the lender canceled the remaining debt. Free 1040 ez Kathy and Frank have no tax attributes other than basis of personal-use property. Free 1040 ez   The lender issued a 2013 Form 1099-C to Kathy and Frank showing canceled debt of $750,000 in box 2 (the remaining balance on the $2,500,000 mortgage debt after application of the foreclosure sale proceeds) and $1,750,000 in box 7 (FMV of the property). Free 1040 ez Identifiable event code "D" appears in box 6. Free 1040 ez This box shows the reason the creditor has filed Form 1099-C. Free 1040 ez Although Kathy and Frank abandoned the property, the lender did not need to also file a Form 1099-A because the lender canceled the debt in connection with the foreclosure in the same calendar year. Free 1040 ez Kathy and Frank are filing a joint return for 2013. Free 1040 ez   Because the foreclosure occurred prior to the debt cancellation, Kathy and Frank first calculate their gain or loss from the foreclosure using Table 1-1. Free 1040 ez Because Kathy and Frank remained personally liable for the $750,000 debt remaining after the foreclosure ($2,500,000 outstanding debt immediately before the foreclosure minus $1,750,000 satisfied through the sale of the home), Kathy and Frank enter $1,750,000 on line 1 of Table 1-1 ($2,500,000 outstanding debt immediately before the foreclosure minus the $750,000 for which they remained liable). Free 1040 ez Completing Table 1-1, Kathy and Frank find that they have no ordinary income from the cancellation of debt upon foreclosure and that they have a $1,250,000 loss. Free 1040 ez Because this loss relates to their home, it is a nondeductible loss. Free 1040 ez   Because the lender later canceled the remaining amount of the debt, Kathy and Frank must also determine whether that canceled debt is taxable. Free 1040 ez Immediately before the cancellation, Kathy and Frank had $15,000 in a savings account, household furnishings with an FMV of $17,000, a car with an FMV of $10,000, and $18,000 in credit card debt. Free 1040 ez Kathy and Frank also had the $750,000 remaining balance on the mortgage loan at that time. Free 1040 ez The household furnishings originally cost $30,000. Free 1040 ez The car had been fully paid off (so there was no related outstanding debt) and was originally purchased for $16,000. Free 1040 ez Kathy and Frank had no adjustments to the cost basis of the car. Free 1040 ez Kathy and Frank had no other assets or liabilities at the time of the cancellation. Free 1040 ez Kathy and Frank complete the insolvency worksheet to calculate that they were insolvent to the extent of $726,000 immediately before the cancellation ($768,000 of total liabilities minus $42,000 FMV of total assets). Free 1040 ez   At the beginning of 2014, Kathy and Frank had $9,000 in their savings account and $15,000 in credit card debt. Free 1040 ez Kathy and Frank also owned the same car at that time (still with an FMV of $10,000 and basis of $16,000) and the same household furnishings (still with an FMV of $17,000 and a basis of $30,000). Free 1040 ez Kathy and Frank had no other assets or liabilities at that time. Free 1040 ez Kathy and Frank no longer own the home because the lender foreclosed on it in 2013. Free 1040 ez   Because the canceled debt is qualified principal residence indebtedness, the insolvency exclusion does not apply unless Kathy and Frank elect to apply the insolvency exclusion instead of the qualified principal residence indebtedness exclusion. Free 1040 ez The maximum amount that Kathy and Frank can treat as qualified principal residence indebtedness is $2,000,000. Free 1040 ez The remaining $500,000 ($2,500,000 outstanding mortgage loan minus $2,000,000 limit on qualified principal residence indebtedness) is not qualified principal residence indebtedness. Free 1040 ez Because only a part of the loan is qualified principal residence indebtedness, Kathy and Frank must apply the ordering rule to the canceled debt. Free 1040 ez Under the ordering rule, the qualified principal residence indebtedness exclusion applies only to the extent that the amount canceled ($750,000) exceeds the amount of the loan (immediately before the cancellation) that is not qualified principal residence indebtedness ($500,000). Free 1040 ez This means that Kathy and Frank can only exclude $250,000 ($750,000 amount canceled minus $500,000 nonqualified debt) under the qualified principal residence indebtedness exclusion. Free 1040 ez   Kathy and Frank do not elect to have the insolvency exclusion apply instead of the qualified principal residence exclusion. Free 1040 ez Nonetheless, they can still apply the insolvency exclusion to the $500,000 nonqualified debt because it is not qualified principal residence indebtedness. Free 1040 ez Kathy and Frank can exclude the remaining $500,000 canceled debt under the insolvency exclusion because they were insolvent immediately before the cancellation to the extent of $726,000. Free 1040 ez Thus, Kathy and Frank check the boxes on lines 1b and 1e of Form 982 and enter $750,000 on line 2 ($250,000 excluded under the qualified principal residence indebtedness exclusion plus $500,000 excluded under the insolvency exclusion). Free 1040 ez   Next, Kathy and Frank reduce their tax attributes using Part II of Form 982. Free 1040 ez Because Kathy and Frank no longer own the home due to the foreclosure, Kathy and Frank have no remaining basis in the home at the time of the debt cancellation. Free 1040 ez Thus, Kathy and Frank leave line 10b of Form 982 blank. Free 1040 ez However, Kathy and Frank are also excluding nonqualified debt under the insolvency exclusion. Free 1040 ez As a result, Kathy and Frank must reduce the basis of property they own based on the amount of canceled debt they are excluding from income under the insolvency rules. Free 1040 ez Because Kathy and Frank have no tax attributes other than basis of personal-use property to reduce, Kathy and Frank figure the amount they must include on line 10a of Form 982 by taking the smallest of: The $46,000 bases of their personal-use property held at the beginning of 2014 ($16,000 basis in the car plus $30,000 basis in household furnishings), The $500,000 of the nonbusiness debt (other than qualified principal residence indebtedness) that they are excluding from income on line 2 of Form 982, or The $43,000 excess of the total bases of the property and the amount of money they held immediately after the cancellation over their total liabilities immediately after the cancellation ($15,000 in savings account plus $30,000 basis in household furnishings plus $16,000 adjusted basis in car minus $18,000 credit card debt). Free 1040 ez Kathy and Frank enter $43,000 on Form 982, line 10a and reduce their bases in the car and the household furnishings in proportion to the total adjusted bases in all their property. Free 1040 ez Kathy and Frank reduce the basis in the car by $14,956. Free 1040 ez 52 ($43,000 x $16,000/$46,000). Free 1040 ez And they reduce the basis in the household furnishings by $28,043. Free 1040 ez 48 ($43,000 x $30,000/$46,000). Free 1040 ez   Following are Kathy and Frank's sample forms and worksheets. Free 1040 ez Frank and Kathy's 2013 Form 1099-C, Cancellation of Debt This image is too large to be displayed in the current screen. Free 1040 ez Please click the link to view the image. Free 1040 ez Form 1099-C, Cancellation of Debt Table 1-1. Free 1040 ez Worksheet for Foreclosures and Repossessions (for Frank and Kathy Willow) Part 1. Free 1040 ez Complete Part 1 only if you were personally liable for the debt (even if none of the debt was canceled). Free 1040 ez Otherwise, go to Part 2. Free 1040 ez 1. Free 1040 ez Enter the amount of outstanding debt immediately before the transfer of property reduced by any amount for which you remain personally liable immediately after the transfer of property $1,750,000. Free 1040 ez 00 2. Free 1040 ez Enter the fair market value of the transferred property $1,750,000. Free 1040 ez 00 3. Free 1040 ez Ordinary income from the cancellation of debt upon foreclosure or repossession. Free 1040 ez * Subtract line 2 from line 1. Free 1040 ez If less than zero, enter zero. Free 1040 ez Next, go to Part 2 $0. Free 1040 ez 00 Part 2. Free 1040 ez Gain or loss from foreclosure or repossession. Free 1040 ez   4. Free 1040 ez Enter the smaller of line 1 or line 2. Free 1040 ez If you did not complete Part 1 (because you were not personally liable for the debt), enter the amount of outstanding debt immediately before the transfer of property. Free 1040 ez $1,750,000. Free 1040 ez 00 5. Free 1040 ez Enter any proceeds you received from the foreclosure sale   6. Free 1040 ez Add line 4 and line 5 $1,750,000. Free 1040 ez 00 7. Free 1040 ez Enter the adjusted basis of the transferred property $3,000,000. Free 1040 ez 00 8. Free 1040 ez Gain or loss from foreclosure or repossession. Free 1040 ez Subtract line 7 from line 6 ($1,250,000. Free 1040 ez 00) * The income may not be taxable. Free 1040 ez See chapter 1 for more details. Free 1040 ez    Insolvency Worksheet—Frank and Kathy Willow Date debt was canceled (mm/dd/yy) 12/26/13 Part I. Free 1040 ez Total liabilities immediately before the cancellation (do not include the same liability in more than one category) Liabilities (debts) Amount Owed Immediately Before the Cancellation 1. Free 1040 ez Credit card debt $ 18,000 2. Free 1040 ez Mortgage(s) on real property (including first and second mortgages and home equity loans) (mortgage(s) can be on personal residence, any additional residence, or property held for investment or used in a trade or business) $ 750,000 3. Free 1040 ez Car and other vehicle loans $ 4. Free 1040 ez Medical bills owed $ 5. Free 1040 ez Student loans $ 6. Free 1040 ez Accrued or past-due mortgage interest $ 7. Free 1040 ez Accrued or past-due real estate taxes $ 8. Free 1040 ez Accrued or past-due utilities (water, gas, electric) $ 9. Free 1040 ez Accrued or past-due child care costs $ 10. Free 1040 ez Federal or state income taxes remaining due (for prior tax years) $ 11. Free 1040 ez Judgments $ 12. Free 1040 ez Business debts (including those owed as a sole proprietor or partner) $ 13. Free 1040 ez Margin debt on stocks and other debt to purchase or secured by investment assets other than real property $ 14. Free 1040 ez Other liabilities (debts) not included above $ 15. Free 1040 ez Total liabilities immediately before the cancellation. Free 1040 ez Add lines 1 through 14. Free 1040 ez $ 768,000 Part II. Free 1040 ez Fair market value (FMV) of assets owned immediately before the cancellation (do not include the FMV of the same asset in more than one category) Assets FMV Immediately Before  the Cancellation 16. Free 1040 ez Cash and bank account balances $ 15,000 17. Free 1040 ez Real property, including the value of land (can be main home, any additional home, or property held for investment or used in a trade or business) $ 18. Free 1040 ez Cars and other vehicles $ 10,000 19. Free 1040 ez Computers $ 20. Free 1040 ez Household goods and furnishings (for example, appliances, electronics, furniture, etc. Free 1040 ez ) $ 17,000 21. Free 1040 ez Tools $ 22. Free 1040 ez Jewelry $ 23. Free 1040 ez Clothing $ 24. Free 1040 ez Books $ 25. Free 1040 ez Stocks and bonds $ 26. Free 1040 ez Investments in coins, stamps, paintings, or other collectibles $ 27. Free 1040 ez Firearms, sports, photographic, and other hobby equipment $ 28. Free 1040 ez Interest in retirement accounts (IRA accounts, 401(k) accounts, and other retirement accounts) $ 29. Free 1040 ez Interest in a pension plan $ 30. Free 1040 ez Interest in education accounts $ 31. Free 1040 ez Cash value of life insurance $ 32. Free 1040 ez Security deposits with landlords, utilities, and others $ 33. Free 1040 ez Interests in partnerships $ 34. Free 1040 ez Value of investment in a business $ 35. Free 1040 ez Other investments (for example, annuity contracts, guaranteed investment contracts, mutual funds, commodity accounts, interests in hedge funds, and options) $ 36. Free 1040 ez Other assets not included above $ 37. Free 1040 ez FMV of total assets immediately before the cancellation. Free 1040 ez Add lines 16 through 36. Free 1040 ez $ 42,000 Part III. Free 1040 ez Insolvency 38. Free 1040 ez Amount of Insolvency. Free 1040 ez Subtract line 37 from line 15. Free 1040 ez If zero or less, you are not insolvent. Free 1040 ez $ 726,000    Frank and Kathy's Form 982 This image is too large to be displayed in the current screen. Free 1040 ez Please click the link to view the image. Free 1040 ez Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) Prev  Up  Next   Home   More Online Publications
Español

  • Exploiting the FTC Name, Scammers Promise Phony Sweepstakes Prizes
    In their latest effort to defraud the public, con artists claiming to work for the Federal Trade Commission are calling consumers and claiming that they have won a lottery or sweepstakes.
  • FTC Warns Against Sweepstakes Scammers Posing as Government Officials
    Putting a new twist on an old scam, con artists are posing as government officials when they tell consumers they have won a sweepstakes prize. Crooks also take advantage of Internet technology, which can make it appear that they are calling from Washington, DC, or the consumer's hometown while they tell consumers they represent the Federal Trade Commission or some other government agency.
  • If You Win a Sweepstakes, Just Remember This: Never Wire Money
    Imagine getting a letter from Publishers Clearinghouse that says you've won a million dollars. You might be so excited you wouldn't even question if it's legitimate. Con artists are counting on that. They're sending these official-looking but phony prize notices to people all across the country.
  • New Spin on Sweepstakes Scams; Scammers May Impersonate Government Agencies
    The Federal Trade Commission has issued an alert for consumers that sweepstakes scam artists may be impersonating government agencies in an effort to convince consumers that they have won a monetary 'prize.' The alert says that scammers, claiming to be from the non-existent National Sweepstakes Bureau, the 'national consumer protection agency,' and even the FTC, tell consumers that the supposed government agency is supervising the distribution of sweepstakes winnings. They also may give consumers a phone number at an actual government agency or use Internet technology to make it appear that they are calling from Washington, DC.

The Free 1040 Ez

Free 1040 ez 6. Free 1040 ez   How To Get Tax Help Table of Contents Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Free 1040 ez Free help with your return. Free 1040 ez   You can get free help preparing your return nationwide from IRS-certified volunteers. Free 1040 ez The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Free 1040 ez The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Free 1040 ez Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Free 1040 ez In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Free 1040 ez To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Free 1040 ez gov, download the IRS2Go app, or call 1-800-906-9887. Free 1040 ez   As part of the TCE program, AARP offers the Tax-Aide counseling program. Free 1040 ez To find the nearest AARP Tax-Aide site, visit AARP's website at www. Free 1040 ez aarp. Free 1040 ez org/money/taxaide or call 1-888-227-7669. Free 1040 ez For more information on these programs, go to IRS. Free 1040 ez gov and enter “VITA” in the search box. Free 1040 ez   For more information on these programs, go to IRS. Free 1040 ez gov and enter “VITA” in the search box. Free 1040 ez Internet. Free 1040 ez    IRS. Free 1040 ez gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Free 1040 ez Download the free IRS2Go app from the iTunes app store or from Google Play. Free 1040 ez Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Free 1040 ez Check the status of your 2013 refund with the Where's My Refund? application on IRS. Free 1040 ez gov or download the IRS2Go app and select the Refund Status option. Free 1040 ez The IRS issues more than 9 out of 10 refunds in less than 21 days. Free 1040 ez Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. Free 1040 ez You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. Free 1040 ez The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Free 1040 ez Use the Interactive Tax Assistant (ITA) to research your tax questions. Free 1040 ez No need to wait on the phone or stand in line. Free 1040 ez The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Free 1040 ez When you reach the response screen, you can print the entire interview and the final response for your records. Free 1040 ez New subject areas are added on a regular basis. Free 1040 ez  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Free 1040 ez gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Free 1040 ez You can use the IRS Tax Map, to search publications and instructions by topic or keyword. Free 1040 ez The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. Free 1040 ez When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. Free 1040 ez Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. Free 1040 ez You can also ask the IRS to mail a return or an account transcript to you. Free 1040 ez Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. Free 1040 ez gov or by calling 1-800-908-9946. Free 1040 ez Tax return and tax account transcripts are generally available for the current year and the past three years. Free 1040 ez Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. Free 1040 ez Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. Free 1040 ez If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. Free 1040 ez Check the status of your amended return using Where's My Amended Return? Go to IRS. Free 1040 ez gov and enter Where's My Amended Return? in the search box. Free 1040 ez You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Free 1040 ez It can take up to 3 weeks from the date you mailed it to show up in our system. Free 1040 ez Make a payment using one of several safe and convenient electronic payment options available on IRS. Free 1040 ez gov. Free 1040 ez Select the Payment tab on the front page of IRS. Free 1040 ez gov for more information. Free 1040 ez Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. Free 1040 ez Figure your income tax withholding with the IRS Withholding Calculator on IRS. Free 1040 ez gov. Free 1040 ez Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Free 1040 ez Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Free 1040 ez gov. Free 1040 ez Request an Electronic Filing PIN by going to IRS. Free 1040 ez gov and entering Electronic Filing PIN in the search box. Free 1040 ez Download forms, instructions and publications, including accessible versions for people with disabilities. Free 1040 ez Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. Free 1040 ez gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. Free 1040 ez An employee can answer questions about your tax account or help you set up a payment plan. Free 1040 ez Before you visit, check the Office Locator on IRS. Free 1040 ez gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. Free 1040 ez If you have a special need, such as a disability, you can request an appointment. Free 1040 ez Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Free 1040 ez Apply for an Employer Identification Number (EIN). Free 1040 ez Go to IRS. Free 1040 ez gov and enter Apply for an EIN in the search box. Free 1040 ez Read the Internal Revenue Code, regulations, or other official guidance. Free 1040 ez Read Internal Revenue Bulletins. Free 1040 ez Sign up to receive local and national tax news and more by email. Free 1040 ez Just click on “subscriptions” above the search box on IRS. Free 1040 ez gov and choose from a variety of options. Free 1040 ez Phone. Free 1040 ez    You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Free 1040 ez Download the free IRS2Go app from the iTunes app store or from Google Play. Free 1040 ez Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Free 1040 ez gov, or download the IRS2Go app. Free 1040 ez Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Free 1040 ez The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Free 1040 ez Most VITA and TCE sites offer free electronic filing. Free 1040 ez Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Free 1040 ez Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Free 1040 ez Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Free 1040 ez If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Free 1040 ez The IRS issues more than 9 out of 10 refunds in less than 21 days. Free 1040 ez Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Free 1040 ez Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Free 1040 ez The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Free 1040 ez Note, the above information is for our automated hotline. Free 1040 ez Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Free 1040 ez Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Free 1040 ez You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Free 1040 ez It can take up to 3 weeks from the date you mailed it to show up in our system. Free 1040 ez Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Free 1040 ez You should receive your order within 10 business days. Free 1040 ez Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Free 1040 ez If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Free 1040 ez Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Free 1040 ez The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Free 1040 ez These individuals can also contact the IRS through relay services such as the Federal Relay Service. Free 1040 ez Walk-in. Free 1040 ez   You can find a selection of forms, publications and services — in-person. Free 1040 ez Products. Free 1040 ez You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Free 1040 ez Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Free 1040 ez Services. Free 1040 ez You can walk in to your local TAC for face-to-face tax help. Free 1040 ez An employee can answer questions about your tax account or help you set up a payment plan. Free 1040 ez Before visiting, use the Office Locator tool on IRS. Free 1040 ez gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Free 1040 ez Mail. Free 1040 ez   You can send your order for forms, instructions, and publications to the address below. Free 1040 ez You should receive a response within 10 business days after your request is received. Free 1040 ez Internal Revenue Service 1201 N. Free 1040 ez Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. Free 1040 ez The Taxpayer Advocate Service (TAS) is your voice at the IRS. Free 1040 ez Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Free 1040 ez   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Free 1040 ez We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Free 1040 ez You face (or your business is facing) an immediate threat of adverse action. Free 1040 ez You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Free 1040 ez   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Free 1040 ez Here's why we can help: TAS is an independent organization within the IRS. Free 1040 ez Our advocates know how to work with the IRS. Free 1040 ez Our services are free and tailored to meet your needs. Free 1040 ez We have offices in every state, the District of Columbia, and Puerto Rico. Free 1040 ez   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. Free 1040 ez   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Free 1040 ez If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. Free 1040 ez Low Income Taxpayer Clinics   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. Free 1040 ez Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Free 1040 ez Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. Free 1040 ez Prev  Up  Next   Home   More Online Publications