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How To File An Amended Tax Return For 2013

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How To File An Amended Tax Return For 2013

How to file an amended tax return for 2013 2. How to file an amended tax return for 2013   Taxable and Nontaxable Income Table of Contents Compensation for Services Retirement Plan DistributionsIndividual Retirement Arrangements (IRAs) Pensions and Annuities Social Security and Equivalent Railroad Retirement BenefitsAre Any of Your Benefits Taxable? How Much Is Taxable? How To Report Your Benefits Lump-Sum Election Repayments More Than Gross Benefits Sickness and Injury BenefitsDisability Pensions Long-Term Care Insurance Contracts Workers' Compensation Other Sickness and Injury Benefits Life Insurance ProceedsInstallments for life. How to file an amended tax return for 2013 Surviving spouse. How to file an amended tax return for 2013 Endowment Contract Proceeds Accelerated Death Benefits Sale of HomeMaximum Amount of Exclusion Ownership and Use Tests Married Persons Business Use or Rental of Home Reporting the Sale Reverse Mortgages Other ItemsWelfare benefits. How to file an amended tax return for 2013 Payments from a state fund for victims of crime. How to file an amended tax return for 2013 Home Affordable Modification Program (HAMP). How to file an amended tax return for 2013 Mortgage assistance payments. How to file an amended tax return for 2013 Payments to reduce cost of winter energy use. How to file an amended tax return for 2013 Nutrition Program for the Elderly. How to file an amended tax return for 2013 Reemployment Trade Adjustment Assistance (RTAA). How to file an amended tax return for 2013 Generally, income is taxable unless it is specifically exempt (not taxed) by law. How to file an amended tax return for 2013 Your taxable income may include compensation for services, interest, dividends, rents, royalties, income from partnerships, estate or trust income, gain from sales or exchanges of property, and business income of all kinds. How to file an amended tax return for 2013 Under special provisions of the law, certain items are partially or fully exempt from tax. How to file an amended tax return for 2013 Provisions that are of special interest to older taxpayers are discussed in this chapter. How to file an amended tax return for 2013 Compensation for Services Generally, you must include in gross income everything you receive in payment for personal services. How to file an amended tax return for 2013 In addition to wages, salaries, commissions, fees, and tips, this includes other forms of compensation such as fringe benefits and stock options. How to file an amended tax return for 2013 You need not receive the compensation in cash for it to be taxable. How to file an amended tax return for 2013 Payments you receive in the form of goods or services generally must be included in gross income at their fair market value. How to file an amended tax return for 2013 Volunteer work. How to file an amended tax return for 2013   Do not include in your gross income amounts you receive for supportive services or reimbursements for out-of-pocket expenses under any of the following volunteer programs. How to file an amended tax return for 2013 Retired Senior Volunteer Program (RSVP). How to file an amended tax return for 2013 Foster Grandparent Program. How to file an amended tax return for 2013 Senior Companion Program. How to file an amended tax return for 2013 Service Corps of Retired Executives (SCORE). How to file an amended tax return for 2013 Unemployment compensation. How to file an amended tax return for 2013   You must include in income all unemployment compensation you or your spouse (if married filing jointly) received. How to file an amended tax return for 2013 More information. How to file an amended tax return for 2013   See Publication 525, Taxable and Nontaxable Income, for more detailed information on specific types of income. How to file an amended tax return for 2013 Retirement Plan Distributions This section summarizes the tax treatment of amounts you receive from traditional individual retirement arrangements (IRA), employee pensions or annuities, and disability pensions or annuities. How to file an amended tax return for 2013 A traditional IRA is any IRA that is not a Roth or SIMPLE IRA. How to file an amended tax return for 2013 A Roth IRA is an individual retirement plan that can be either an account or an annuity and features nondeductible contributions and tax-free distributions. How to file an amended tax return for 2013 A SIMPLE IRA is a tax-favored retirement plan that certain small employers (including self-employed individuals) can set up for the benefit of their employees. How to file an amended tax return for 2013 More detailed information can be found in Publication 590, Individual Retirement Arrangements (IRAs), and Publication 575, Pension and Annuity Income. How to file an amended tax return for 2013 Individual Retirement Arrangements (IRAs) In general, distributions from a traditional IRA are taxable in the year you receive them. How to file an amended tax return for 2013 Exceptions to the general rule are rollovers, tax-free withdrawals of contributions, and the return of nondeductible contributions. How to file an amended tax return for 2013 These are discussed in Publication 590. How to file an amended tax return for 2013 If you made nondeductible contributions to a traditional IRA, you must file Form 8606, Nondeductible IRAs. How to file an amended tax return for 2013 If you do not file Form 8606 with your return, you may have to pay a $50 penalty. How to file an amended tax return for 2013 Also, when you receive distributions from your traditional IRA, the amounts will be taxed unless you can show, with satisfactory evidence, that nondeductible contributions were made. How to file an amended tax return for 2013 Early distributions. How to file an amended tax return for 2013   Generally, early distributions are amounts distributed from your traditional IRA account or annuity before you are age 59½, or amounts you receive when you cash in retirement bonds before you are age  59½. How to file an amended tax return for 2013 You must include early distributions of taxable amounts in your gross income. How to file an amended tax return for 2013 These taxable amounts are also subject to an additional 10% tax unless the distribution qualifies for an exception. How to file an amended tax return for 2013 For purposes of the additional 10% tax, an IRA is a qualified retirement plan. How to file an amended tax return for 2013 For more information about this tax, see Tax on Early Distributions under Pensions and Annuities, later. How to file an amended tax return for 2013 After age 59½ and before age 70½. How to file an amended tax return for 2013   After you reach age 59½, you can receive distributions from your traditional IRA without having to pay the 10% additional tax. How to file an amended tax return for 2013 Even though you can receive distributions after you reach age 59½, distributions are not required until you reach  age 70½. How to file an amended tax return for 2013 Required distributions. How to file an amended tax return for 2013   If you are the owner of a traditional IRA, you generally must receive the entire balance in your IRA or start receiving periodic distributions from your IRA by April 1 of the year following the year in which you reach age 70½. How to file an amended tax return for 2013 See When Must You Withdraw Assets? (Required Minimum Distributions) in Publication 590. How to file an amended tax return for 2013 If distributions from your traditional IRA(s) are less than the required minimum distribution for the year, you may have to pay a 50% excise tax for that year on the amount not distributed as required. How to file an amended tax return for 2013 For purposes of the 50% excise tax, an IRA is a qualified retirement plan. How to file an amended tax return for 2013 For more information about this tax, see Tax on Excess Accumulation under Pensions and Annuities, later. How to file an amended tax return for 2013 See also Excess Accumulations (Insufficient Distributions) in Publication 590. How to file an amended tax return for 2013 Pensions and Annuities Generally, if you did not pay any part of the cost of your employee pension or annuity, and your employer did not withhold part of the cost of the contract from your pay while you worked, the amounts you receive each year are fully taxable. How to file an amended tax return for 2013 However, see Insurance Premiums for Retired Public Safety Officers , later. How to file an amended tax return for 2013 If you paid part of the cost of your pension or annuity plan (see Cost , later), you can exclude part of each annuity payment from income as a recovery of your cost (investment in the contract). How to file an amended tax return for 2013 This tax-free part of the payment is figured when your annuity starts and remains the same each year, even if the amount of the payment changes. How to file an amended tax return for 2013 The rest of each payment is taxable. How to file an amended tax return for 2013 However, see Insurance Premiums for Retired Public Safety Officers , later. How to file an amended tax return for 2013 You figure the tax-free part of the payment using one of the following methods. How to file an amended tax return for 2013 Simplified Method. How to file an amended tax return for 2013 You generally must use this method if your annuity is paid under a qualified plan (a qualified employee plan, a qualified employee annuity, or a tax-sheltered annuity plan or contract). How to file an amended tax return for 2013 You cannot use this method if your annuity is paid under a nonqualified plan. How to file an amended tax return for 2013 General Rule. How to file an amended tax return for 2013 You must use this method if your annuity is paid under a nonqualified plan. How to file an amended tax return for 2013 You generally cannot use this method if your annuity is paid under a qualified plan. How to file an amended tax return for 2013 Contact your employer or plan administrator to find out if your pension or annuity is paid under a qualified or nonqualified plan. How to file an amended tax return for 2013 You determine which method to use when you first begin receiving your annuity, and you continue using it each year that you recover part of your cost. How to file an amended tax return for 2013 Exclusion limit. How to file an amended tax return for 2013   If your annuity starting date is after 1986, the total amount of annuity income you can exclude over the years as a recovery of the cost cannot exceed your total cost. How to file an amended tax return for 2013 Any unrecovered cost at your (or the last annuitant's) death is allowed as a miscellaneous itemized deduction on the final return of the decedent. How to file an amended tax return for 2013 This deduction is not subject to the 2%-of-adjusted-gross-income limit on miscellaneous deductions. How to file an amended tax return for 2013   If you contributed to your pension or annuity and your annuity starting date is before 1987, you can continue to take your monthly exclusion for as long as you receive your annuity. How to file an amended tax return for 2013 If you chose a joint and survivor annuity, your survivor can continue to take the survivor's exclusion figured as of the annuity starting date. How to file an amended tax return for 2013 The total exclusion may be more than your cost. How to file an amended tax return for 2013 Cost. How to file an amended tax return for 2013   Before you can figure how much, if any, of your pension or annuity benefits are taxable, you must determine your cost in the plan (your investment in the contract). How to file an amended tax return for 2013 Your total cost in the plan includes everything that you paid. How to file an amended tax return for 2013 It also includes amounts your employer contributed that were taxable to you when paid. How to file an amended tax return for 2013 However, see Foreign employment contributions , later. How to file an amended tax return for 2013   From this total cost, subtract any refunded premiums, rebates, dividends, unrepaid loans, or other tax-free amounts you received by the later of the annuity starting date or the date on which you received your first payment. How to file an amended tax return for 2013   The annuity starting date is the later of the first day of the first period for which you received a payment from the plan or the date on which the plan's obligations became fixed. How to file an amended tax return for 2013    The amount of your contributions to the plan may be shown in box 9b of any Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. How to file an amended tax return for 2013 , that you receive. How to file an amended tax return for 2013 Foreign employment contributions. How to file an amended tax return for 2013   If you worked abroad, certain amounts your employer paid into your retirement plan that were not includible in your gross income may be considered part of your cost. How to file an amended tax return for 2013 For details, see Foreign employment contributions in Publication 575. How to file an amended tax return for 2013 Withholding. How to file an amended tax return for 2013   The payer of your pension, profit-sharing, stock bonus, annuity, or deferred compensation plan will withhold income tax on the taxable part of amounts paid to you. How to file an amended tax return for 2013 However, you can choose not to have tax withheld on the payments you receive, unless they are eligible rollover distributions. How to file an amended tax return for 2013 (These are distributions that are eligible for rollover treatment but are not paid directly to another qualified retirement plan or to a traditional IRA. How to file an amended tax return for 2013 ) See Withholding Tax and Estimated Tax and Rollovers in Publication 575 for more information. How to file an amended tax return for 2013   For payments other than eligible rollover distributions, you can tell the payer how much to withhold by filing a Form W-4P, Withholding Certificate for Pension or Annuity Payments. How to file an amended tax return for 2013 Simplified Method. How to file an amended tax return for 2013   Under the Simplified Method, you figure the tax-free part of each annuity payment by dividing your cost by the total number of anticipated monthly payments. How to file an amended tax return for 2013 For an annuity that is payable over the lives of the annuitants, this number is based on the annuitants' ages on the annuity starting date and is determined from a table. How to file an amended tax return for 2013 For any other annuity, this number is the number of monthly annuity payments under the contract. How to file an amended tax return for 2013 Who must use the Simplified Method. How to file an amended tax return for 2013   You must use the Simplified Method if your annuity starting date is after November 18, 1996, and you receive your pension or annuity payments from a qualified plan or annuity, unless you were at least 75 years old and entitled to at least 5 years of guaranteed payments (defined next). How to file an amended tax return for 2013   In addition, if your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use the Simplified Method for payments from a qualified plan, unless you were at least 75 years old and entitled to at least 5 years of guaranteed payments. How to file an amended tax return for 2013 If you chose to use the Simplified Method, you must continue to use it each year that you recover part of your cost. How to file an amended tax return for 2013 Guaranteed payments. How to file an amended tax return for 2013   Your annuity contract provides guaranteed payments if a minimum number of payments or a minimum amount (for example, the amount of your investment) is payable even if you and any survivor annuitant do not live to receive the minimum. How to file an amended tax return for 2013 If the minimum amount is less than the total amount of the payments you are to receive, barring death, during the first 5 years after payments begin (figured by ignoring any payment increases), you are entitled to less than 5 years of guaranteed payments. How to file an amended tax return for 2013 Who cannot use the Simplified Method. How to file an amended tax return for 2013   You cannot use the Simplified Method and must use the General Rule if you receive pension or annuity payments from: A nonqualified plan, such as a private annuity, a purchased commercial annuity, or a nonqualified employee plan, or A qualified plan if you are age 75 or older on your annuity starting date and you are entitled to at least 5 years of guaranteed payments (defined above). How to file an amended tax return for 2013   In addition, you had to use the General Rule for either circumstance described above if your annuity starting date is after July 1, 1986, and before November 19, 1996. How to file an amended tax return for 2013 If you did not have to use the General Rule, you could have chosen to use it. How to file an amended tax return for 2013 You also had to use the General Rule for payments from a qualified plan if your annuity starting date is before July 2, 1986, and you did not qualify to use the Three-Year Rule. How to file an amended tax return for 2013   If you had to use the General Rule (or chose to use it), you must continue to use it each year that you recover your cost. How to file an amended tax return for 2013   Unless your annuity starting date was before 1987, once you have recovered all of your non-taxable investment, all of each remaining payment you receive is fully taxable. How to file an amended tax return for 2013 Once your remaining payments are fully taxable, there is no longer a concern with the General Rule or Simplified Method. How to file an amended tax return for 2013   Complete information on the General Rule, including the actuarial tables you need, is contained in Publication 939, General Rule for Pensions and Annuities. How to file an amended tax return for 2013 How to use the Simplified Method. How to file an amended tax return for 2013   Complete the Simplified Method Worksheet in the Form 1040, Form 1040A, or Form 1040NR instructions or in Publication 575 to figure your taxable annuity for 2013. How to file an amended tax return for 2013 Be sure to keep the completed worksheet; it will help you figure your taxable annuity next year. How to file an amended tax return for 2013   To complete line 3 of the worksheet, you must determine the total number of expected monthly payments for your annuity. How to file an amended tax return for 2013 How you do this depends on whether the annuity is for a single life, multiple lives, or a fixed period. How to file an amended tax return for 2013 For this purpose, treat an annuity that is payable over the life of an annuitant as payable for that annuitant's life even if the annuity has a fixed-period feature or also provides a temporary annuity payable to the annuitant's child under age 25. How to file an amended tax return for 2013    You do not need to complete line 3 of the worksheet or make the computation on line 4 if you received annuity payments last year and used last year's worksheet to figure your taxable annuity. How to file an amended tax return for 2013 Instead, enter the amount from line 4 of last year's worksheet on line 4 of this year's worksheet. How to file an amended tax return for 2013 Single-life annuity. How to file an amended tax return for 2013   If your annuity is payable for your life alone, use Table 1 at the bottom of the worksheet to determine the total number of expected monthly payments. How to file an amended tax return for 2013 Enter on line 3 the number shown for your age on your annuity starting date. How to file an amended tax return for 2013 This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. How to file an amended tax return for 2013 Multiple-lives annuity. How to file an amended tax return for 2013   If your annuity is payable for the lives of more than one annuitant, use Table 2 at the bottom of the worksheet to determine the total number of expected monthly payments. How to file an amended tax return for 2013 Enter on line 3 the number shown for the annuitants' combined ages on the annuity starting date. How to file an amended tax return for 2013 For an annuity payable to you as the primary annuitant and to more than one survivor annuitant, combine your age and the age of the youngest survivor annuitant. How to file an amended tax return for 2013 For an annuity that has no primary annuitant and is payable to you and others as survivor annuitants, combine the ages of the oldest and youngest annuitants. How to file an amended tax return for 2013 Do not treat as a survivor annuitant anyone whose entitlement to payments depends on an event other than the primary annuitant's death. How to file an amended tax return for 2013   However, if your annuity starting date is before 1998, do not use Table 2 and do not combine the annuitants' ages. How to file an amended tax return for 2013 Instead, you must use Table 1 at the bottom of the worksheet and enter on line 3 the number shown for the primary annuitant's age on the annuity starting date. How to file an amended tax return for 2013 This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. How to file an amended tax return for 2013 Fixed-period annuities. How to file an amended tax return for 2013   If your annuity does not depend in whole or in part on anyone's life expectancy, the total number of expected monthly payments to enter on line 3 of the worksheet is the number of monthly annuity payments under the contract. How to file an amended tax return for 2013 Line 6. How to file an amended tax return for 2013   The amount on line 6 should include all amounts that could have been recovered in prior years. How to file an amended tax return for 2013 If you did not recover an amount in a prior year, you may be able to amend your returns for the affected years. How to file an amended tax return for 2013    Be sure to keep a copy of the completed worksheet; it will help you figure your taxable annuity in later years. How to file an amended tax return for 2013 Example. How to file an amended tax return for 2013 Bill Smith, age 65, began receiving retirement benefits in 2013, under a joint and survivor annuity. How to file an amended tax return for 2013 Bill's annuity starting date is January 1, 2013. How to file an amended tax return for 2013 The benefits are to be paid over the joint lives of Bill and his wife, Kathy, age 65. How to file an amended tax return for 2013 Bill had contributed $31,000 to a qualified plan and had received no distributions before the annuity starting date. How to file an amended tax return for 2013 Bill is to receive a retirement benefit of $1,200 a month, and Kathy is to receive a monthly survivor benefit of $600 upon Bill's death. How to file an amended tax return for 2013 Bill must use the Simplified Method to figure his taxable annuity because his payments are from a qualified plan and he is under age 75. How to file an amended tax return for 2013 See the illustrated Worksheet 2-A, Simplified Method Worksheet, later. How to file an amended tax return for 2013 You can find a blank version of this worksheet in Publication 575. How to file an amended tax return for 2013 (The references in the illustrated worksheet are to sections in Publication 575). How to file an amended tax return for 2013 His annuity is payable over the lives of more than one annuitant, so Bill uses his and Kathy's combined ages, 130 (65 + 65), and Table 2 at the bottom of the worksheet in completing line 3 of the worksheet and finds the line 3 amount to be 310. How to file an amended tax return for 2013 Bill's tax-free monthly amount is $100 ($31,000 ÷ 310 as shown on line 4 of the worksheet). How to file an amended tax return for 2013 Upon Bill's death, if Bill has not recovered the full $31,000 investment, Kathy will also exclude $100 from her $600 monthly payment. How to file an amended tax return for 2013 The full amount of any annuity payments received after 310 payments are paid must generally be included in gross income. How to file an amended tax return for 2013 If Bill and Kathy die before 310 payments are made, a miscellaneous itemized deduction will be allowed for the unrecovered cost on the final income tax return of the last to die. How to file an amended tax return for 2013 This deduction is not subject to the 2%-of-adjusted-gross-income limit. How to file an amended tax return for 2013 Worksheet 2-A. How to file an amended tax return for 2013 Simplified Method Worksheet—Illustrated 1. How to file an amended tax return for 2013 Enter the total pension or annuity payments received this year. How to file an amended tax return for 2013 Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. How to file an amended tax return for 2013 $ 14,400 2. How to file an amended tax return for 2013 Enter your cost in the plan (contract) at the annuity starting date plus any death benefit exclusion* See Cost (Investment in the Contract), earlier 2. How to file an amended tax return for 2013 31,000   Note. How to file an amended tax return for 2013 If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). How to file an amended tax return for 2013 Otherwise, go to line 3. How to file an amended tax return for 2013     3. How to file an amended tax return for 2013 Enter the appropriate number from Table 1 below. How to file an amended tax return for 2013 But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below 3. How to file an amended tax return for 2013 310 4. How to file an amended tax return for 2013 Divide line 2 by the number on line 3 4. How to file an amended tax return for 2013 100 5. How to file an amended tax return for 2013 Multiply line 4 by the number of months for which this year's payments were made. How to file an amended tax return for 2013 If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. How to file an amended tax return for 2013 Otherwise, go to line 6 5. How to file an amended tax return for 2013 1,200 6. How to file an amended tax return for 2013 Enter any amount previously recovered tax free in years after 1986. How to file an amended tax return for 2013 This is the amount shown on line 10 of your worksheet for last year 6. How to file an amended tax return for 2013 0 7. How to file an amended tax return for 2013 Subtract line 6 from line 2 7. How to file an amended tax return for 2013 31,000 8. How to file an amended tax return for 2013 Enter the smaller of line 5 or line 7 8. How to file an amended tax return for 2013 1,200 9. How to file an amended tax return for 2013 Taxable amount for year. How to file an amended tax return for 2013 Subtract line 8 from line 1. How to file an amended tax return for 2013 Enter the result, but not less than zero. How to file an amended tax return for 2013 Also, add this amount to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. How to file an amended tax return for 2013 Note. How to file an amended tax return for 2013 If your Form 1099-R shows a larger taxable amount, use the amount figured on this line instead. How to file an amended tax return for 2013 If you are a retired public safety officer, see Insurance Premiums for Retired Public Safety Officers, earlier, before entering an amount on your tax return. How to file an amended tax return for 2013 9. How to file an amended tax return for 2013 $ 13,200 10. How to file an amended tax return for 2013 Was your annuity starting date before 1987? □ Yes. How to file an amended tax return for 2013 STOP. How to file an amended tax return for 2013 Do not complete the rest of this worksheet. How to file an amended tax return for 2013  ☑ No. How to file an amended tax return for 2013 Add lines 6 and 8. How to file an amended tax return for 2013 This is the amount you have recovered tax free through 2013. How to file an amended tax return for 2013 You will need this number if you need to fill out this worksheet next year. How to file an amended tax return for 2013 10. How to file an amended tax return for 2013 1,200 11. How to file an amended tax return for 2013 Balance of cost to be recovered. How to file an amended tax return for 2013 Subtract line 10 from line 2. How to file an amended tax return for 2013 If zero, you will not have to complete this worksheet next year. How to file an amended tax return for 2013 The payments you receive next year will generally be fully taxable 11. How to file an amended tax return for 2013 $ 29,800 * A death benefit exclusion (up to $5,000) applied to certain benefits received by employees who died before August 21, 1996. How to file an amended tax return for 2013   Table 1 for Line 3 Above       AND your annuity starting date was—   IF your age on your annuity starting date was . How to file an amended tax return for 2013 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013   BEFORE November 19, 1996, enter on line 3 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013 AFTER November 18, 1996, enter on line 3 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013   55 or under 300 360   56-60 260 310   61-65 240 260   66-70 170 210   71 or over 120 160 Table 2 for Line 3 Above   IF the annuitants' combined ages on your annuity starting date were . How to file an amended tax return for 2013 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013   THEN enter on line 3 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013 . How to file an amended tax return for 2013         110 or under   410         111-120   360         121-130   310         131-140   260         141 or over   210       Survivors of retirees. How to file an amended tax return for 2013   Benefits paid to you as a survivor under a joint and survivor annuity must be included in your gross income in the same way the retiree would have included them in gross income. How to file an amended tax return for 2013   If you receive a survivor annuity because of the death of a retiree who had reported the annuity under the Three-Year Rule, include the total received in your income. How to file an amended tax return for 2013 The retiree's cost has already been recovered tax free. How to file an amended tax return for 2013   If the retiree was reporting the annuity payments under the General Rule, you must apply the same exclusion percentage the retiree used to your initial payment called for in the contract. How to file an amended tax return for 2013 The resulting tax-free amount will then remain fixed. How to file an amended tax return for 2013 Any increases in the survivor annuity are fully taxable. How to file an amended tax return for 2013   If the retiree was reporting the annuity payments under the Simplified Method, the part of each payment that is tax free is the same as the tax-free amount figured by the retiree at the annuity starting date. How to file an amended tax return for 2013 See Simplified Method , earlier. How to file an amended tax return for 2013 How to report. How to file an amended tax return for 2013   If you file Form 1040, report your total annuity on line 16a, and the taxable part on line 16b. How to file an amended tax return for 2013 If your pension or annuity is fully taxable, enter it on line 16b. How to file an amended tax return for 2013 Do not make an entry on line 16a. How to file an amended tax return for 2013   If you file Form 1040A, report your total annuity on line 12a, and the taxable part on line 12b. How to file an amended tax return for 2013 If your pension or annuity is fully taxable, enter it on line 12b. How to file an amended tax return for 2013 Do not make an entry on line 12a. How to file an amended tax return for 2013   If you file Form 1040NR, report your total annuity on line 17a, and the taxable part on line 17b. How to file an amended tax return for 2013 If your pension or annuity is fully taxable, enter it on line 17b. How to file an amended tax return for 2013 Do not make an entry on line 17a. How to file an amended tax return for 2013 Example. How to file an amended tax return for 2013 You are a Form 1040 filer and you received monthly payments totaling $1,200 (12 months x $100) during 2013 from a pension plan that was completely financed by your employer. How to file an amended tax return for 2013 You had paid no tax on the payments that your employer made to the plan, and the payments were not used to pay for accident, health, or long-term care insurance premiums (as discussed later under Insurance Premiums for Retired Public Safety Officers ). How to file an amended tax return for 2013 The entire $1,200 is taxable. How to file an amended tax return for 2013 You include $1,200 only on Form 1040, line 16b. How to file an amended tax return for 2013 Joint return. How to file an amended tax return for 2013   If you file a joint return and you and your spouse each receive one or more pensions or annuities, report the total of the pensions and annuities on line 16a of Form 1040, line 12a of Form 1040A, or line 17a of Form 1040NR. How to file an amended tax return for 2013 Report the total of the taxable parts on line 16b of Form 1040, line 12b of Form 1040A, or line 17b of Form 1040NR. How to file an amended tax return for 2013 Form 1099-R. How to file an amended tax return for 2013   You should receive a Form 1099-R for your pension or annuity. How to file an amended tax return for 2013 Form 1099-R shows your pension or annuity for the year and any income tax withheld. How to file an amended tax return for 2013 You should receive a Form W-2 if you receive distributions from certain nonqualified plans. How to file an amended tax return for 2013 You must attach Forms 1099-R or Forms W-2 to your 2013 tax return if federal income tax was withheld. How to file an amended tax return for 2013 Generally, you should be sent these forms by January 31, 2014. How to file an amended tax return for 2013 Nonperiodic Distributions If you receive a nonperiodic distribution from your retirement plan, you may be able to exclude all or part of it from your income as a recovery of your cost. How to file an amended tax return for 2013 Nonperiodic distributions include cash withdrawals, distributions of current earnings (dividends) on your investment, and certain loans. How to file an amended tax return for 2013 For information on how to figure the taxable amount of a nonperiodic distribution, see Taxation of Nonperiodic Payments in Publication 575. How to file an amended tax return for 2013 The taxable part of a nonperiodic distribution may be subject to an additional 10% tax. How to file an amended tax return for 2013 See Tax on Early Distributions, later. How to file an amended tax return for 2013 Lump-sum distributions. How to file an amended tax return for 2013   If you receive a lump-sum distribution from a qualified employee plan or qualified employee annuity and the plan participant was born before January 2, 1936, you may be able to elect optional methods of figuring the tax on the distribution. How to file an amended tax return for 2013 The part from active participation in the plan before 1974 may qualify as capital gain subject to a 20% tax rate. How to file an amended tax return for 2013 The part from participation after 1973 (and any part from participation before 1974 that you do not report as capital gain) is ordinary income. How to file an amended tax return for 2013 You may be able to use the 10-year tax option to figure tax on the ordinary income part. How to file an amended tax return for 2013 Form 1099-R. How to file an amended tax return for 2013   If you receive a total distribution from a plan, you should receive a Form 1099-R. How to file an amended tax return for 2013 If the distribution qualifies as a lump-sum distribution, box 3 shows the capital gain part of the distribution. How to file an amended tax return for 2013 The amount in box 2a, Taxable amount, minus the amount in box 3, Capital gain, is the ordinary income part. How to file an amended tax return for 2013 More information. How to file an amended tax return for 2013   For more detailed information on lump-sum distributions, see Publication 575 or Form 4972, Tax on Lump-Sum Distributions. How to file an amended tax return for 2013 Tax on Early Distributions Most distributions you receive from your qualified retirement plan and nonqualified annuity contracts before you reach age 59½ are subject to an additional tax of 10%. How to file an amended tax return for 2013 The tax applies to the taxable part of the distribution. How to file an amended tax return for 2013 For this purpose, a qualified retirement plan is: A qualified employee plan (including a qualified cash or deferred arrangement (CODA) under Internal Revenue Code section 401(k)), A qualified employee annuity plan, A tax-sheltered annuity plan (403(b) plan), or An eligible state or local government section 457 deferred compensation plan (to the extent that any distribution is attributable to amounts the plan received in a direct transfer or rollover from one of the other plans listed here or an IRA). How to file an amended tax return for 2013  An IRA is also a qualified retirement plan for purposes of this tax. How to file an amended tax return for 2013 General exceptions to tax. How to file an amended tax return for 2013   The early distribution tax does not apply to any distributions that are: Made as part of a series of substantially equal periodic payments (made at least annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary (if from a qualified retirement plan, the payments must begin after separation from service), Made because you are totally and permanently disabled, or Made on or after the death of the plan participant or contract holder. How to file an amended tax return for 2013 Additional exceptions. How to file an amended tax return for 2013   There are additional exceptions to the early distribution tax for certain distributions from qualified retirement plans and nonqualified annuity contracts. How to file an amended tax return for 2013 See Publication 575 for details. How to file an amended tax return for 2013 Reporting tax. How to file an amended tax return for 2013   If you owe only the tax on early distributions and distribution code 1 (early distribution, no known exception) is correctly shown in Form 1099-R, box 7, multiply the taxable part of the early distribution by 10% (. How to file an amended tax return for 2013 10) and enter the result on Form 1040, line 58, or Form 1040NR, line 56. How to file an amended tax return for 2013 See the instructions for line 58 of Form 1040 or line 56 of Form 1040NR for more information about reporting the early distribution tax. How to file an amended tax return for 2013 Tax on Excess Accumulation To make sure that most of your retirement benefits are paid to you during your lifetime, rather than to your beneficiaries after your death, the payments that you receive from qualified retirement plans must begin no later than your required beginning date. How to file an amended tax return for 2013 Unless the rule for 5% owners applies, this is generally April 1 of the year that follows the later of: The calendar year in which you reach age 70½, or The calendar year in which you retire from employment with the employer maintaining the plan. How to file an amended tax return for 2013 However, your plan may require you to begin to receive payments by April 1 of the year that follows the year in which you reach 70½, even if you have not retired. How to file an amended tax return for 2013 For this purpose, a qualified retirement plan includes: A qualified employee plan, A qualified employee annuity plan, An eligible section 457 deferred compensation plan, or A tax-sheltered annuity plan (403(b) plan) (for benefits accruing after 1986). How to file an amended tax return for 2013  An IRA is also a qualified retirement plan for purposes of this tax. How to file an amended tax return for 2013 An excess accumulation is the undistributed remainder of the required minimum distribution that was left in your qualified retirement plan. How to file an amended tax return for 2013 5% owners. How to file an amended tax return for 2013   If you own (or are considered to own under section 318 of the Internal Revenue Code) more than 5% of the company maintaining your qualified retirement plan, you must begin to receive distributions from the plan by April 1 of the year after the calendar year in which you reach age 70½. How to file an amended tax return for 2013 See Publication 575 for more information. How to file an amended tax return for 2013 Amount of tax. How to file an amended tax return for 2013   If you do not receive the required minimum distribution, you are subject to an additional tax. How to file an amended tax return for 2013 The tax equals 50% of the difference between the amount that must be distributed and the amount that was distributed during the tax year. How to file an amended tax return for 2013 You can get this excise tax excused if you establish that the shortfall in distributions was due to reasonable error and that you are taking reasonable steps to remedy the shortfall. How to file an amended tax return for 2013 Form 5329. How to file an amended tax return for 2013   You must file a Form 5329 if you owe a tax because you did not receive a minimum required distribution from your qualified retirement plan. How to file an amended tax return for 2013 Additional information. How to file an amended tax return for 2013   For more detailed information on the tax on excess accumulation, see Publication 575. How to file an amended tax return for 2013 Insurance Premiums for Retired Public Safety Officers If you are an eligible retired public safety officer (law enforcement officer, firefighter, chaplain, or member of a rescue squad or ambulance crew), you can elect to exclude from income distributions made from your eligible retirement plan that are used to pay the premiums for accident or health insurance or long-term care insurance. How to file an amended tax return for 2013 The premiums can be for coverage for you, your spouse, or dependent(s). How to file an amended tax return for 2013 The distribution must be made directly from the plan to the insurance provider. How to file an amended tax return for 2013 You can exclude from income the smaller of the amount of the insurance premiums or $3,000. How to file an amended tax return for 2013 You can only make this election for amounts that would otherwise be included in your income. How to file an amended tax return for 2013 The amount excluded from your income cannot be used to claim a medical expense deduction. How to file an amended tax return for 2013 An eligible retirement plan is a governmental plan that is a: Qualified trust, Section 403(a) plan, Section 403(b) annuity, or Section 457(b) plan. How to file an amended tax return for 2013 If you make this election, reduce the otherwise taxable amount of your pension or annuity by the amount excluded. How to file an amended tax return for 2013 The taxable amount shown in box 2a of any Form 1099-R that you receive does not reflect the exclusion. How to file an amended tax return for 2013 Report your total distributions on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. How to file an amended tax return for 2013 Report the taxable amount on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. How to file an amended tax return for 2013 Enter “PSO” next to the appropriate line on which you report the taxable amount. How to file an amended tax return for 2013 Railroad Retirement Benefits Benefits paid under the Railroad Retirement Act fall into two categories. How to file an amended tax return for 2013 These categories are treated differently for income tax purposes. How to file an amended tax return for 2013 Social security equivalent benefits. How to file an amended tax return for 2013   The first category is the amount of tier 1 railroad retirement benefits that equals the social security benefit that a railroad employee or beneficiary would have been entitled to receive under the social security system. How to file an amended tax return for 2013 This part of the tier 1 benefit is the social security equivalent benefit (SSEB) and is treated for tax purposes like social security benefits. How to file an amended tax return for 2013 (See Social Security and Equivalent Railroad Retirement Benefits , later. How to file an amended tax return for 2013 ) Non-social security equivalent benefits. How to file an amended tax return for 2013   The second category contains the rest of the tier 1 benefits, called the non-social security equivalent benefit (NSSEB). How to file an amended tax return for 2013 It also contains any tier 2 benefit, vested dual benefit (VDB), and supplemental annuity benefit. How to file an amended tax return for 2013 This category of benefits is treated as an amount received from a qualified employee plan. How to file an amended tax return for 2013 This allows for the tax-free (nontaxable) recovery of employee contributions from the tier 2 benefits and the NSSEB part of the tier 1 benefits. How to file an amended tax return for 2013 Vested dual benefits and supplemental annuity benefits are non-contributory pensions and are fully taxable. How to file an amended tax return for 2013 More information. How to file an amended tax return for 2013   For more information about railroad retirement benefits, see Publication 575. How to file an amended tax return for 2013 Military Retirement Pay Military retirement pay based on age or length of service is taxable and must be included in income as a pension on Form 1040, lines 16a and 16b; on Form 1040A, lines 12a and 12b; or on Form 1040NR, lines 17a and 17b. How to file an amended tax return for 2013 But, certain military and government disability pensions that are based on a percentage of disability from active service in the Armed Forces of any country generally are not taxable. How to file an amended tax return for 2013 For more information, including information about veterans' benefits and insurance, see Publication 525. How to file an amended tax return for 2013 Social Security and Equivalent Railroad Retirement Benefits This discussion explains the federal income tax rules for social security benefits and equivalent tier 1 railroad retirement benefits. How to file an amended tax return for 2013 Social security benefits include monthly retirement, survivor, and disability benefits. How to file an amended tax return for 2013 They do not include supplemental security income (SSI) payments, which are not taxable. How to file an amended tax return for 2013 Equivalent tier 1 railroad retirement benefits are the part of tier 1 benefits that a railroad employee or beneficiary would have been entitled to receive under the social security system. How to file an amended tax return for 2013 They commonly are called the social security equivalent benefit (SSEB) portion of tier 1 benefits. How to file an amended tax return for 2013 If you received these benefits during 2013, you should have received a Form SSA-1099 or Form RRB-1099 (Form SSA-1042S or Form RRB-1042S if you are a nonresident alien), showing the amount of the benefits. How to file an amended tax return for 2013 Are Any of Your Benefits Taxable? Note. How to file an amended tax return for 2013 When the term “benefits” is used in this section, it applies to both social security benefits and the SSEB portion of tier 1 railroad retirement benefits. How to file an amended tax return for 2013  To find out whether any of your benefits may be taxable, compare the base amount for your filing status (explained later) with the total of: One-half of your benefits, plus All your other income, including tax-exempt interest. How to file an amended tax return for 2013 When making this comparison, do not reduce your other income by any exclusions for: Interest from qualified U. How to file an amended tax return for 2013 S. How to file an amended tax return for 2013 savings bonds, Employer-provided adoption benefits, Foreign earned income or foreign housing, or Income earned in American Samoa or Puerto Rico by bona fide residents. How to file an amended tax return for 2013 Figuring total income. How to file an amended tax return for 2013   To figure the total of one-half of your benefits plus your other income, use Worksheet 2-B. How to file an amended tax return for 2013 If that total amount is more than your base amount, part of your benefits may be taxable. How to file an amended tax return for 2013 If you are married and file a joint return for 2013, you and your spouse must combine your incomes and your benefits to figure whether any of your combined benefits are taxable. How to file an amended tax return for 2013 Even if your spouse did not receive any benefits, you must add your spouse's income to yours to figure whether any of your benefits are taxable. How to file an amended tax return for 2013 If the only income you received during 2013 was your social security or the SSEB portion of tier 1 railroad retirement benefits, your benefits generally are not taxable and you probably do not have to file a return. How to file an amended tax return for 2013 If you have income in addition to your benefits, you may have to file a return even if none of your benefits are taxable. How to file an amended tax return for 2013 Worksheet 2-B. How to file an amended tax return for 2013 A Quick Way To Check if Your Benefits May Be Taxable A. How to file an amended tax return for 2013 Enter the amount from box 5 of all your Forms SSA-1099 and RRB-1099. How to file an amended tax return for 2013 Include  the full amount of any lump-sum benefit payments received in 2013, for 2013 and  earlier years. How to file an amended tax return for 2013 (If you received more than one form, combine the amounts from box 5  and enter the total. How to file an amended tax return for 2013 ) A. How to file an amended tax return for 2013     Note. How to file an amended tax return for 2013 If the amount on line A is zero or less, stop here; none of your benefits are  taxable this year. How to file an amended tax return for 2013     B. How to file an amended tax return for 2013 Enter one-half of the amount on line A B. How to file an amended tax return for 2013   C. How to file an amended tax return for 2013 Enter your taxable pensions, wages, interest, dividends, and other taxable income C. How to file an amended tax return for 2013   D. How to file an amended tax return for 2013 Enter any tax-exempt interest income (such as interest on municipal bonds) plus any exclusions from income for: •Interest from qualified U. How to file an amended tax return for 2013 S. How to file an amended tax return for 2013 savings bonds, •Employer-provided adoption benefits, •Foreign earned income or foreign housing, or •Income earned in American Samoa or Puerto Rico by bona fide residents D. How to file an amended tax return for 2013   E. How to file an amended tax return for 2013 Add lines B, C, and D and enter the total E. How to file an amended tax return for 2013   F. How to file an amended tax return for 2013 If you are: •Married filing jointly, enter $32,000 •Single, head of household, qualifying widow(er), or married filing separately and you  lived apart from your spouse for all of 2013, enter $25,000 •Married filing separately and you lived with your spouse at any time during 2013,  enter -0- F. How to file an amended tax return for 2013   G. How to file an amended tax return for 2013 Is the amount on line F less than or equal to the amount on line E? □ No. How to file an amended tax return for 2013 None of your benefits are taxable this year. How to file an amended tax return for 2013  □ Yes. How to file an amended tax return for 2013 Some of your benefits may be taxable. How to file an amended tax return for 2013 To figure how much of your benefits  are taxable, see Which worksheet to use under How Much Is Taxable. How to file an amended tax return for 2013     Base Amount Your base amount is: $25,000 if you are single, head of household, or qualifying widow(er) with dependent child, $25,000 if you are married filing separately and lived apart from your spouse for all of 2013, $32,000 if you are married filing jointly, or $0 if you are married filing separately and lived with your spouse at any time during 2013. How to file an amended tax return for 2013 Repayment of Benefits Any repayment of benefits you made during 2013 must be subtracted from the gross benefits you received in 2013. How to file an amended tax return for 2013 It does not matter whether the repayment was for a benefit you received in 2013 or in an earlier year. How to file an amended tax return for 2013 If you repaid more than the gross benefits you received in 2013, see Repayments More Than Gross Benefits , later. How to file an amended tax return for 2013 Your gross benefits are shown in box 3 of Form SSA-1099 or Form RRB-1099. How to file an amended tax return for 2013 Your repayments are shown in box 4. How to file an amended tax return for 2013 The amount in box 5 shows your net benefits for 2013 (box 3 minus box 4). How to file an amended tax return for 2013 Use the amount in box 5 to figure whether any of your benefits are taxable. How to file an amended tax return for 2013 Tax Withholding and Estimated Tax You can choose to have federal income tax withheld from your social security and/or the SSEB portion of your tier 1 railroad retirement benefits. How to file an amended tax return for 2013 If you choose to do this, you must complete a Form W-4V, Voluntary Withholding Request. How to file an amended tax return for 2013 If you do not choose to have income tax withheld, you may have to request additional withholding from other income, or pay estimated tax during the year. How to file an amended tax return for 2013 For details, see Publication 505, Tax Withholding and Estimated Tax, or the instructions for Form 1040-ES, Estimated Tax for Individuals. How to file an amended tax return for 2013 How Much Is Taxable? If part of your benefits is taxable, how much is taxable depends on the total amount of your benefits and other income. How to file an amended tax return for 2013 Generally, the higher that total amount, the greater the taxable part of your benefits. How to file an amended tax return for 2013 Maximum taxable part. How to file an amended tax return for 2013   The taxable part of your benefits usually cannot be more than 50%. How to file an amended tax return for 2013 However, up to 85% of your benefits can be taxable if either of the following situations applies to you. How to file an amended tax return for 2013 The total of one-half of your benefits and all your other income is more than $34,000 ($44,000 if you are married filing jointly). How to file an amended tax return for 2013 You are married filing separately and lived with your spouse at any time during 2013. How to file an amended tax return for 2013   If you are a nonresident alien, 85% of your benefits are taxable. How to file an amended tax return for 2013 However, this income is exempt under some tax treaties. How to file an amended tax return for 2013 Which worksheet to use. How to file an amended tax return for 2013   A worksheet to figure your taxable benefits is in the instructions for your Form 1040 or 1040A. How to file an amended tax return for 2013 However, you will need to use a different worksheet(s) if any of the following situations applies to you. How to file an amended tax return for 2013 You contributed to a traditional individual retirement arrangement (IRA) and you or your spouse were covered by a retirement plan at work. How to file an amended tax return for 2013 In this situation, you must use the special worksheets in Appendix B of Publication 590 to figure both your IRA deduction and your taxable benefits. How to file an amended tax return for 2013 Situation (1) does not apply and you take one or more of the following exclusions. How to file an amended tax return for 2013 Interest from qualified U. How to file an amended tax return for 2013 S. How to file an amended tax return for 2013 savings bonds (Form 8815). How to file an amended tax return for 2013 Employer-provided adoption benefits (Form 8839). How to file an amended tax return for 2013 Foreign earned income or housing (Form 2555 or Form 2555-EZ). How to file an amended tax return for 2013 Income earned in American Samoa (Form 4563) or Puerto Rico by bona fide residents. How to file an amended tax return for 2013 In these situations, you must use Worksheet 1 in Publication 915, Social Security and Equivalent Railroad Retirement Benefits, to figure your taxable benefits. How to file an amended tax return for 2013 You received a lump-sum payment for an earlier year. How to file an amended tax return for 2013 In this situation, also complete Worksheet 2 or 3 and Worksheet 4 in Publication 915. How to file an amended tax return for 2013 See Lump-Sum Election , later. How to file an amended tax return for 2013 How To Report Your Benefits If part of your benefits are taxable, you must use Form 1040, Form 1040A, or Form 1040NR. How to file an amended tax return for 2013 You cannot use Form 1040EZ. How to file an amended tax return for 2013 Reporting on Form 1040. How to file an amended tax return for 2013   Report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on line 20a and the taxable part on line 20b. How to file an amended tax return for 2013 If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on line 20a. How to file an amended tax return for 2013 Reporting on Form 1040A. How to file an amended tax return for 2013   Report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on line 14a and the taxable part on line 14b. How to file an amended tax return for 2013 If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on line 14a. How to file an amended tax return for 2013 Reporting on Form 1040NR. How to file an amended tax return for 2013   Report 85% of the total amount of your benefits (box 5 of your Form SSA-1042S or Form RRB-1042S) in the appropriate column of Form 1040NR, Schedule NEC, line 8. How to file an amended tax return for 2013 Benefits not taxable. How to file an amended tax return for 2013   If you are filing Form 1040EZ, do not report any benefits on your tax return. How to file an amended tax return for 2013 If you are filing Form 1040 or Form 1040A, report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on Form 1040, line 20a, or Form 1040A, line 14a. How to file an amended tax return for 2013 Enter -0- on Form 1040, line 20b, or Form 1040A, line 14b. How to file an amended tax return for 2013 If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on Form 1040, line 20a, or Form 1040A, line 14a. How to file an amended tax return for 2013 Lump-Sum Election You must include the taxable part of a lump-sum (retroactive) payment of benefits received in 2013 in your 2013 income, even if the payment includes benefits for an earlier year. How to file an amended tax return for 2013 This type of lump-sum benefit payment should not be confused with the lump-sum death benefit that both the SSA and RRB pay to many of their beneficiaries. How to file an amended tax return for 2013 No part of the lump-sum death benefit is subject to tax. How to file an amended tax return for 2013 For more information about the lump-sum death benefit, visit the Social Security Administration website at www. How to file an amended tax return for 2013 SSA. How to file an amended tax return for 2013 gov, and use keyword: death benefit. How to file an amended tax return for 2013 Generally, you use your 2013 income to figure the taxable part of the total benefits received in 2013. How to file an amended tax return for 2013 However, you may be able to figure the taxable part of a lump-sum payment for an earlier year separately, using your income for the earlier year. How to file an amended tax return for 2013 You can elect this method if it lowers your taxable benefits. How to file an amended tax return for 2013 See Publication 915 for more information. How to file an amended tax return for 2013 Repayments More Than Gross Benefits In some situations, your Form SSA-1099 or Form RRB-1099 will show that the total benefits you repaid (box 4) are more than the gross benefits (box 3) you received. How to file an amended tax return for 2013 If this occurred, your net benefits in box 5 will be a negative figure (a figure in parentheses) and none of your benefits will be taxable. How to file an amended tax return for 2013 If you receive more than one form, a negative figure in box 5 of one form is used to offset a positive figure in box 5 of another form for that same year. How to file an amended tax return for 2013 If you have any questions about this negative figure, contact your local Social Security Administration office or your local U. How to file an amended tax return for 2013 S. How to file an amended tax return for 2013 Railroad Retirement Board field office. How to file an amended tax return for 2013 Joint return. How to file an amended tax return for 2013   If you and your spouse file a joint return, and your Form SSA-1099 or RRB-1099 has a negative figure in box 5 but your spouse's does not, subtract the box 5 amount on your form from the box 5 amount on your spouse's form. How to file an amended tax return for 2013 You do this to get your net benefits when figuring if your combined benefits are taxable. How to file an amended tax return for 2013 Repayment of benefits received in an earlier year. How to file an amended tax return for 2013   If the total amount shown in box 5 of all of your Forms SSA-1099 and RRB-1099 is a negative figure, you can take an itemized deduction for the part of this negative figure that represents benefits you included in gross income in an earlier year. How to file an amended tax return for 2013   If this deduction is $3,000 or less, it is subject to the 2%-of-adjusted-gross-income limit that applies to certain miscellaneous itemized deductions. How to file an amended tax return for 2013 Claim it on Schedule A (Form 1040), line 23. How to file an amended tax return for 2013   If this deduction is more than $3,000, you have to follow some special instructions. How to file an amended tax return for 2013 See Publication 915 for those instructions. How to file an amended tax return for 2013 Sickness and Injury Benefits Generally, you must report as income any amount you receive for personal injury or sickness through an accident or health plan that is paid for by your employer. How to file an amended tax return for 2013 If both you and your employer pay for the plan, only the amount you receive that is due to your employer's payments is reported as income. How to file an amended tax return for 2013 However, certain payments may not be taxable to you. How to file an amended tax return for 2013 Some of these payments are discussed later in this section. How to file an amended tax return for 2013 Also, see Military and Government Disability Pensions and Other Sickness and Injury Benefits in Publication 525. How to file an amended tax return for 2013 Cost paid by you. How to file an amended tax return for 2013   If you pay the entire cost of an accident or health plan, do not include any amounts you receive from the plan for personal injury or sickness as income on your tax return. How to file an amended tax return for 2013 If your plan reimbursed you for medical expenses you deducted in an earlier year, you may have to include some, or all, of the reimbursement in your income. How to file an amended tax return for 2013 Disability Pensions If you retired on disability, you must include in income any disability pension you receive under a plan that is paid for by your employer. How to file an amended tax return for 2013 You must report your taxable disability payments as wages on line 7 of Form 1040 or Form 1040A or on line 8 of Form 1040NR until you reach minimum retirement age. How to file an amended tax return for 2013 Minimum retirement age generally is the age at which you can first receive a pension or annuity if you are not disabled. How to file an amended tax return for 2013 If you were 65 or older by the end of 2013 or you were retired on permanent and total disability and received taxable disability income, you may be able to claim the credit for the elderly or the disabled. How to file an amended tax return for 2013 See Credit for the Elderly or the Disabled, later. How to file an amended tax return for 2013 For more information on this credit, see Publication 524, Credit for the Elderly or the Disabled. How to file an amended tax return for 2013 Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension or annuity. How to file an amended tax return for 2013 Report the payments on lines 16a and 16b of Form 1040, on lines 12a and 12b of Form 1040A, or on lines 17a and 17b of Form 1040NR. How to file an amended tax return for 2013 For more information on pensions and annuities, see Publication 575. How to file an amended tax return for 2013 Retirement and profit-sharing plans. How to file an amended tax return for 2013   If you receive payments from a retirement or profit-sharing plan that does not provide for disability retirement, do not treat the payments as a disability pension. How to file an amended tax return for 2013 The payments must be reported as a pension or annuity. How to file an amended tax return for 2013 Accrued leave payment. How to file an amended tax return for 2013   If you retire on disability, any lump-sum payment you receive for accrued annual leave is a salary payment. How to file an amended tax return for 2013 The payment is not a disability payment. How to file an amended tax return for 2013 Include it in your income in the tax year you receive it. How to file an amended tax return for 2013 Long-Term Care Insurance Contracts In most cases, long-term care insurance contracts generally are treated as accident and health insurance contracts. How to file an amended tax return for 2013 Amounts you receive from them (other than policyholder dividends or premium refunds) generally are excludable from income as amounts received for personal injury or sickness. How to file an amended tax return for 2013 However, the amount you can exclude may be limited. How to file an amended tax return for 2013 Long-term care insurance contracts are discussed in more detail in Publication 525. How to file an amended tax return for 2013 Workers' Compensation Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a workers' compensation act or a statute in the nature of a workers' compensation act. How to file an amended tax return for 2013 The exemption also applies to your survivors. How to file an amended tax return for 2013 The exemption, however, does not apply to retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury. How to file an amended tax return for 2013 If part of your workers' compensation reduces your social security or equivalent railroad retirement benefits, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. How to file an amended tax return for 2013 For a discussion of the taxability of these benefits, see Social Security and Equivalent Railroad Retirement Benefits, earlier. How to file an amended tax return for 2013 Return to work. How to file an amended tax return for 2013   If you return to work after qualifying for workers' compensation, salary payments you receive for performing light duties are taxable as wages. How to file an amended tax return for 2013 Other Sickness and Injury Benefits In addition to disability pensions and annuities, you may receive other payments for sickness or injury. How to file an amended tax return for 2013 Federal Employees' Compensation Act (FECA). How to file an amended tax return for 2013   Payments received under this Act for personal injury or sickness, including payments to beneficiaries in case of death, are not taxable. How to file an amended tax return for 2013 However, you are taxed on amounts you receive under this Act as continuation of pay for up to 45 days while a claim is being decided. How to file an amended tax return for 2013 Report this income on Form 1040, line 7; Form 1040A, line 7; on Form 1040EZ, line 1; or Form 1040NR, line 8. How to file an amended tax return for 2013 Also, pay for sick leave while a claim is being processed is taxable and must be included in your income as wages. How to file an amended tax return for 2013    If part of the payments you receive under FECA reduces your social security or equivalent railroad retirement benefits, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. How to file an amended tax return for 2013 For a discussion of the taxability of these benefits, see Social Security and Equivalent Railroad Retirement Benefits, earlier. How to file an amended tax return for 2013 Other compensation. How to file an amended tax return for 2013   Many other amounts you receive as compensation for sickness or injury are not taxable. How to file an amended tax return for 2013 These include the following amounts. How to file an amended tax return for 2013 Benefits you receive under an accident or health insurance policy on which either you paid the premiums or your employer paid the premiums but you had to include them in your income. How to file an amended tax return for 2013 Disability benefits you receive for loss of income or earning capacity as a result of injuries under a no-fault car insurance policy. How to file an amended tax return for 2013 Compensation you receive for permanent loss or loss of use of a part or function of your body, for your permanent disfigurement, or for such loss or disfigurement suffered by your spouse or dependent(s). How to file an amended tax return for 2013 This compensation must be based only on the injury and not on the period of your absence from work. How to file an amended tax return for 2013 These benefits are not taxable even if your employer pays for the accident and health plan that provides these benefits. How to file an amended tax return for 2013 Life Insurance Proceeds Life insurance proceeds paid to you because of the death of the insured person are not taxable unless the policy was turned over to you for a price. How to file an amended tax return for 2013 This is true even if the proceeds were paid under an accident or health insurance policy or an endowment contract. How to file an amended tax return for 2013 Proceeds not received in installments. How to file an amended tax return for 2013   If death benefits are paid to you in a lump sum or other than at regular intervals, include in your income only the benefits that are more than the amount payable to you at the time of the insured person's death. How to file an amended tax return for 2013 If the benefit payable at death is not specified, you include in your income the benefit payments that are more than the present value of the payments at the time of death. How to file an amended tax return for 2013 Proceeds received in installments. How to file an amended tax return for 2013   If you receive life insurance proceeds in installments, you can exclude part of each installment from your income. How to file an amended tax return for 2013   To determine the excluded part, divide the amount held by the insurance company (generally the total lump sum payable at the death of the insured person) by the number of installments to be paid. How to file an amended tax return for 2013 Include anything over this excluded part in your income as interest. How to file an amended tax return for 2013 Installments for life. How to file an amended tax return for 2013   If, as the beneficiary under an insurance contract, you are entitled to receive the proceeds in installments for the rest of your life without a refund or period-certain guarantee, you figure the excluded part of each installment by dividing the amount held by the insurance company by your life expectancy. How to file an amended tax return for 2013 If there is a refund or period-certain guarantee, the amount held by the insurance company for this purpose is reduced by the actuarial value of the guarantee. How to file an amended tax return for 2013 Surviving spouse. How to file an amended tax return for 2013   If your spouse died before October 23, 1986, and insurance proceeds paid to you because of the death of your spouse are received in installments, you can exclude, in any year, up to $1,000 of the interest included in the installments. How to file an amended tax return for 2013 If you remarry, you can continue to take the exclusion. How to file an amended tax return for 2013 Surrender of policy for cash. How to file an amended tax return for 2013   If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than the cost of the life insurance policy. How to file an amended tax return for 2013 In general, your cost (or investment in the contract) is the total of premiums that you paid for the life insurance policy, less any refunded premiums, rebates, dividends, or unrepaid loans that were not included in your income. How to file an amended tax return for 2013 You should receive a Form 1099-R showing the total proceeds and the taxable part. How to file an amended tax return for 2013 Report these amounts on Form 1040, lines 16a and 16b; Form 1040A, lines 12a and 12b; or Form 1040NR, lines 17a and 17b. How to file an amended tax return for 2013 Endowment Contract Proceeds An endowment contract is a policy that pays over to you a specified amount of money on a certain date unless you die before that date, in which case, the money is paid to your designated beneficiary. How to file an amended tax return for 2013 Endowment proceeds paid in a lump sum to you at maturity are taxable only if the proceeds are more than the cost of the policy. How to file an amended tax return for 2013 To determine your cost, subtract from the total premiums (or other consideration) paid for the contract any amount that you previously received under the contract and excluded from your income. How to file an amended tax return for 2013 Include in your income the part of the lump-sum payment that is more than your cost. How to file an amended tax return for 2013 Endowment proceeds that you choose to receive in installments instead of a lump-sum payment at the maturity of the policy are taxed as an annuity. How to file an amended tax return for 2013 The tax treatment of an annuity is explained in Publication 575. How to file an amended tax return for 2013 For this treatment to apply, you must choose to receive the proceeds in installments before receiving any part of the lump sum. How to file an amended tax return for 2013 This election must be made within 60 days after the lump-sum payment first becomes payable to you. How to file an amended tax return for 2013 Accelerated Death Benefits Certain amounts paid as accelerated death benefits under a life insurance contract or viatical settlement before the insured's death are generally excluded from income if the insured is terminally or chronically ill. How to file an amended tax return for 2013 However, see Exception , later. How to file an amended tax return for 2013 For a chronically ill individual, accelerated death benefits paid on the basis of costs incurred for qualified long-term care services are fully excludable. How to file an amended tax return for 2013 Accelerated death benefits paid on a per diem or other periodic basis without regard to the costs are excludable up to a limit. How to file an amended tax return for 2013 In addition, if any portion of a death benefit under a life insurance contract on the life of a terminally or chronically ill individual is sold or assigned to a viatical settlement provider, the amount received also is excluded from income. How to file an amended tax return for 2013 Generally, a viatical settlement provider is one who regularly engages in the business of buying or taking assignment of life insurance contracts on the lives of insured individuals who are terminally or chronically ill. How to file an amended tax return for 2013 To report taxable accelerated death benefits made on a per diem or other periodic basis, you must file Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, with your return. How to file an amended tax return for 2013 Terminally or chronically ill defined. How to file an amended tax return for 2013   A terminally ill person is one who has been certified by a physician as having an illness or physical condition that reasonably can be expected to result in death within 24 months from the date of the certification. How to file an amended tax return for 2013 A chronically ill person is one who is not terminally ill but has been certified (within the previous 12 months) by a licensed health care practitioner as meeting either of the following conditions. How to file an amended tax return for 2013 The person is unable to perform (without substantial help) at least two activities of daily living (eating, toileting, transferring, bathing, dressing, and continence) for a period of 90 days or more because of a loss of functional capacity. How to file an amended tax return for 2013 The person requires substantial supervision to protect himself or herself from threats to health and safety due to severe cognitive impairment. How to file an amended tax return for 2013 Exception. How to file an amended tax return for 2013   The exclusion does not apply to any amount paid to a person other than the insured if that other person has an insurable interest in the life of the insured because the insured: Is a director, officer, or employee of the other person, or Has a financial interest in the business of the other person. How to file an amended tax return for 2013 Sale of Home You may be able to exclude from income any gain up to $250,000 ($500,000 on a joint return in most cases) on the sale of your main home. How to file an amended tax return for 2013 Generally, if you can exclude all of the gain, you do not need to report the sale on your tax return. How to file an amended tax return for 2013 You can choose not to take the exclusion by including the gain from the sale in your gross income on your tax return for the year of the sale. How to file an amended tax return for 2013 Main home. How to file an amended tax return for 2013   Usually, your main home is the home you live in most of the time and can be a: House, Houseboat, Mobile home, Cooperative apartment, or Condominium. How to file an amended tax return for 2013 Repaying the first-time homebuyer credit because you sold your home. How to file an amended tax return for 2013   If you claimed a first-time homebuyer credit for your main home and you sell it, you may have to repay the credit. How to file an amended tax return for 2013 For a home purchased in 2008 and used as your main home until sold in 2013, you must file Form 5405 and repay the balance of the unpaid credit on your 2013 tax return. How to file an amended tax return for 2013   For a home purchased after 2008, you generally must repay the entire credit if the home was sold (or otherwise ceased to be your main home) within 36 months of the purchase date. How to file an amended tax return for 2013 If you purchased your home in 2009 and used it as your main home until sold in 2013, you do not have to repay the credit or file Form 5405. How to file an amended tax return for 2013 If you purchased your home in 2010 and used it as your main home until sold in 2013, you may have to file Form 5405 and repay the entire credit on your 2013 tax return. How to file an amended tax return for 2013   See the Instructions for Form 5405 for more information about repaying the credit and exceptions to repayment that may apply to you. How to file an amended tax return for 2013 Maximum Amount of Exclusion You can generally exclude up to $250,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if all of the following are true. How to file an amended tax return for 2013 You meet the ownership test. How to file an amended tax return for 2013 You meet the use test. How to file an amended tax return for 2013 During the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home. How to file an amended tax return for 2013 You may be able to exclude up to $500,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if you are married and file a joint return and meet the requirements listed in the discussion of the special rules for joint returns, later, under Married Persons . How to file an amended tax return for 2013 Ownership and Use Tests To claim the exclusion, you must meet the ownership and use tests. How to file an amended tax return for 2013 This means that during the 5-year period ending on the date of the sale, you must have: Owned the home for at least 2 years (the ownership test), and Lived in the home as your main home for at least 2 years (the use test). How to file an amended tax return for 2013 Exception to ownership and use tests. How to file an amended tax return for 2013   If you owned and lived in the property as your main home for less than 2 years, you still can claim an exclusion in some cases. How to file an amended tax return for 2013 Generally, you must have sold the home due to a change in place of employment, health, or unforeseen circumstances. How to file an amended tax return for 2013 The maximum amount you can exclude will be reduced. How to file an amended tax return for 2013 See Publication 523, Selling Your Home, for more information. How to file an amended tax return for 2013 Exception to use test for individuals with a disability. How to file an amended tax return for 2013   There is an exception to the use test if, during the 5-year period before the sale of your home: You become physically or mentally unable to care for yourself, and You owned and lived in your home as your main home for a total of at least 1 year. How to file an amended tax return for 2013 Under this exception, you are considered to live in your home during any time that you own the home and live in a facility (including a nursing home) that is licensed by a state or political subdivision to care for persons in your condition. How to file an amended tax return for 2013   If you meet this exception to the use test, you still have to meet the 2-out-of-5-year ownership test to claim the exclusion. How to file an amended tax return for 2013 Exception to ownership test for property acquired in a like-kind exchange. How to file an amended tax return for 2013   You must have owned your main home for at least 5 years to qualify for the exclusion if you acquired your main home in a like-kind exchange. How to file an amended tax return for 2013 This special 5-year ownership rule continues to apply to a home you acquired in a like-kind exchange and gave to another person. How to file an amended tax return for 2013 A like-kind exchange is an exchange of property held for productive use in a trade or business or for investment. How to file an amended tax return for 2013 See Publication 523 for more information. How to file an amended tax return for 2013 Period of nonqualified use. How to file an amended tax return for 2013   Generally, the gain from the sale or exchange of your main home will not qualify for the exclusion to the extent that the gain is allocated to periods of nonqualified use. How to file an amended tax return for 2013 Nonqualified use is any period after December 31, 2008, during which the property is not used as the main home. How to file an amended tax return for 2013 See Publication 523 for more information. How to file an amended tax return for 2013 Married Persons In the special situations discussed below, if you and your spouse file a joint return for the year of sale and one spouse meets the ownership and use test, you can exclude up to $250,000 of gain. How to file an amended tax return for 2013 However, see Special rules for joint returns , next. How to file an amended tax return for 2013 Special rules for joint returns. How to file an amended tax return for 2013   You can exclude up to $500,000 of the gain on the sale of your main home if all of the following are true. How to file an amended tax return for 2013 You are married and file a joint return for the year. How to file an amended tax return for 2013 Either you or your spouse meets the ownership test. How to file an amended tax return for 2013 Both you and your spouse meet the use test. How to file an amended tax return for 2013 During the 2-year period ending on the date of the sale, neither you nor your spouse exclude gain from the sale of another home. How to file an amended tax return for 2013 Sale of home by surviving spouse. How to file an amended tax return for 2013   If your spouse died and you did not remarry before the date of sale, you are considered to have owned and lived in the property as your main home during any period of time when your spouse owned and lived in it as a main home. How to file an amended tax return for 2013   If you meet all of the following requirements, you may qualify to exclude up to $500,000 of any gain from the sale or exchange of your main home in 2013. How to file an amended tax return for 2013 The sale or exchange took place no more than 2 years after the date of death of your spouse. How to file an amended tax return for 2013 You have not remarried. How to file an amended tax return for 2013 You and your spouse met the use test at the time of your spouse's death. How to file an amended tax return for 2013 You or your spouse met the ownership test at the time of your spouse's death. How to file an amended tax return for 2013 Neither you nor your spouse excluded gain from the sale of another home during the last 2 years. How to file an amended tax return for 2013 Home transferred from spouse. How to file an amended tax return for 2013   If your home was transferred to you by your spouse (or former spouse if the transfer was incident to divorce), you are considered to have owned it during any period of time when your spouse owned it. How to file an amended tax return for 2013 Use of home after divorce. How to file an amended tax return for 2013   You are considered to have used property as your main home during any period when: You owned it, and Your spouse or former spouse is allowed to live in it under a divorce or separation instrument and uses it as his or her main home. How to file an amended tax return for 2013 Business Use or Rental of Home You may be able to exclude gain from the sale of a home that you have used for business or to produce rental income. How to file an amended tax return for 2013 However, you must meet the ownership and use tests. How to file an amended tax return for 2013 See Publication 523 for more information. How to file an amended tax return for 2013 Depreciation after May 6, 1997. How to file an amended tax return for 2013   If you were entitled to take depreciation deductions because you used your home for business purposes or as rental property, you cannot exclude the part of your gain equal to any depreciation allowed or allowable as a deduction for periods after May 6, 1997. How to file an amended tax return for 2013 See Publication 523 for more information. How to file an amended tax return for 2013 Reporting the Sale Do not report the 2013 sale of your main home on your tax return unless: You have a gain and you do not qualify to exclude all of it, You have a gain and you choose not to exclude it, or You received Form 1099-S. How to file an amended tax return for 2013 If you have a gain that you cannot or choose not to exclude, if you received a Form 1099-S, or if you have a deductible loss, report the sale on your tax return. How to file an amended tax return for 2013 Report the sale on Part I or Part II of Form 8949 as a short-term or long-term transaction, depending on how long you owned the home. How to file an amended tax return for 2013 If you used your home for business or to produce rental income, you may have to use Form 4797, Sales of Business Property, to report the sale of the business or rental part. How to file an amended tax return for 2013 See Publication 523 for more information. How to file an amended tax return for 2013 Reverse Mortgages A revers
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The How To File An Amended Tax Return For 2013

How to file an amended tax return for 2013 28. How to file an amended tax return for 2013   Miscellaneous Deductions Table of Contents What's New Introduction Useful Items - You may want to see: Deductions Subject to the 2% LimitUnreimbursed Employee Expenses (Line 21) Tax Preparation Fees (Line 22) Other Expenses (Line 23) Deductions Not Subject to the 2% LimitList of Deductions Nondeductible ExpensesList of Nondeductible Expenses What's New Standard mileage rate. How to file an amended tax return for 2013  The 2013 rate for business use of a vehicle is 56½ cents per mile. How to file an amended tax return for 2013 Introduction This chapter explains which expenses you can claim as miscellaneous itemized deductions on Schedule A (Form 1040). How to file an amended tax return for 2013 You must reduce the total of most miscellaneous itemized deductions by 2% of your adjusted gross income. How to file an amended tax return for 2013 This chapter covers the following topics. How to file an amended tax return for 2013 Deductions subject to the 2% limit. How to file an amended tax return for 2013 Deductions not subject to the 2% limit. How to file an amended tax return for 2013 Expenses you cannot deduct. How to file an amended tax return for 2013 You must keep records to verify your deductions. How to file an amended tax return for 2013 You should keep receipts, canceled checks, substitute checks, financial account statements, and other documentary evidence. How to file an amended tax return for 2013 For more information on recordkeeping, get Publication 552, Record- keeping for Individuals. How to file an amended tax return for 2013 Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 525 Taxable and Nontaxable Income 529 Miscellaneous Deductions 535 Business Expenses 587 Business Use of Your Home (Including Use by Daycare Providers) 946 How To Depreciate Property Form (and Instructions) Schedule A (Form 1040) Itemized Deductions 2106 Employee Business Expenses 2106-EZ Unreimbursed Employee Business Expenses Deductions Subject to the 2% Limit You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040). How to file an amended tax return for 2013 You can claim the amount of expenses that is more than 2% of your adjusted gross income. How to file an amended tax return for 2013 You figure your deduction on Schedule A by subtracting 2% of your adjusted gross income from the total amount of these expenses. How to file an amended tax return for 2013 Your adjusted gross income is the amount on Form 1040, line 38. How to file an amended tax return for 2013 Generally, you apply the 2% limit after you apply any other deduction limit. How to file an amended tax return for 2013 For example, you apply the 50% (or 80%) limit on business-related meals and entertainment (discussed in chapter 26) before you apply the 2% limit. How to file an amended tax return for 2013 Deductions subject to the 2% limit are discussed in the three categories in which you report them on Schedule A (Form 1040). How to file an amended tax return for 2013 Unreimbursed employee expenses (line 21). How to file an amended tax return for 2013 Tax preparation fees (line 22). How to file an amended tax return for 2013 Other expenses (line 23). How to file an amended tax return for 2013 Unreimbursed Employee Expenses (Line 21) Generally, you can deduct on Schedule A (Form 1040), line 21, unreimbursed employee expenses that are: Paid or incurred during your tax year, For carrying on your trade or business of being an employee, and Ordinary and necessary. How to file an amended tax return for 2013 An expense is ordinary if it is common and accepted in your trade, business, or profession. How to file an amended tax return for 2013 An expense is necessary if it is appropriate and helpful to your business. How to file an amended tax return for 2013 An expense does not have to be required to be considered necessary. How to file an amended tax return for 2013 Examples of unreimbursed employee expenses are listed next. How to file an amended tax return for 2013 The list is followed by discussions of additional unreimbursed employee expenses. How to file an amended tax return for 2013 Business bad debt of an employee. How to file an amended tax return for 2013 Education that is work related. How to file an amended tax return for 2013 (See chapter 27. How to file an amended tax return for 2013 ) Legal fees related to your job. How to file an amended tax return for 2013 Licenses and regulatory fees. How to file an amended tax return for 2013 Malpractice insurance premiums. How to file an amended tax return for 2013 Medical examinations required by an employer. How to file an amended tax return for 2013 Occupational taxes. How to file an amended tax return for 2013 Passport for a business trip. How to file an amended tax return for 2013 Subscriptions to professional journals and trade magazines related to your work. How to file an amended tax return for 2013 Travel, transportation, entertainment, and gifts related to your work. How to file an amended tax return for 2013 (See chapter 26. How to file an amended tax return for 2013 ) Business Liability Insurance You can deduct insurance premiums you paid for protection against personal liability for wrongful acts on the job. How to file an amended tax return for 2013 Damages for Breach of Employment Contract If you break an employment contract, you can deduct damages you pay your former employer that are attributable to the pay you received from that employer. How to file an amended tax return for 2013 Depreciation on Computers You can claim a depreciation deduction for a computer that you use in your work as an employee if its use is: For the convenience of your employer, and Required as a condition of your employment. How to file an amended tax return for 2013 For more information about the rules and exceptions to the rules affecting the allowable deductions for a home computer, see Publication 529. How to file an amended tax return for 2013 Dues to Chambers of Commerce and Professional Societies You may be able to deduct dues paid to professional organizations (such as bar associations and medical associations) and to chambers of commerce and similar organizations, if membership helps you carry out the duties of your job. How to file an amended tax return for 2013 Similar organizations include: Boards of trade, Business leagues, Civic or public service organizations, Real estate boards, and Trade associations. How to file an amended tax return for 2013 Lobbying and political activities. How to file an amended tax return for 2013   You may not be able to deduct that part of your dues that is for certain lobbying and political activities. How to file an amended tax return for 2013 See Dues used for lobbying under Nondeductible Expenses, later. How to file an amended tax return for 2013 Educator Expenses If you were an eligible educator in 2013, you can deduct up to $250 of qualified expenses you paid in 2013 as an adjustment to gross income on Form 1040, line 23, rather than as a miscellaneous itemized deduction. How to file an amended tax return for 2013 If you file Form 1040A, you can deduct these expenses on line 16. How to file an amended tax return for 2013 If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. How to file an amended tax return for 2013 However, neither spouse can deduct more than $250 of his or her qualified expenses. How to file an amended tax return for 2013 Home Office If you use a part of your home regularly and exclusively for business purposes, you may be able to deduct a part of the operating expenses and depreciation of your home. How to file an amended tax return for 2013 You can claim this deduction for the business use of a part of your home only if you use that part of your home regularly and exclusively: As your principal place of business for any trade or business, As a place to meet or deal with your patients, clients, or customers in the normal course of your trade or business, or In the case of a separate structure not attached to your home, in connection with your trade or business. How to file an amended tax return for 2013 The regular and exclusive business use must be for the convenience of your employer and not just appropriate and helpful in your job. How to file an amended tax return for 2013 See Publication 587 for more detailed information and a worksheet. How to file an amended tax return for 2013 Job Search Expenses You can deduct certain expenses you have in looking for a new job in your present occupation, even if you do not get a new job. How to file an amended tax return for 2013 You cannot deduct these expenses if: You are looking for a job in a new occupation, There was a substantial break between the ending of your last job and your looking for a new one, or You are looking for a job for the first time. How to file an amended tax return for 2013 Employment and outplacement agency fees. How to file an amended tax return for 2013   You can deduct employment and outplacement agency fees you pay in looking for a new job in your present occupation. How to file an amended tax return for 2013 Employer pays you back. How to file an amended tax return for 2013   If, in a later year, your employer pays you back for employment agency fees, you must include the amount you receive in your gross income up to the amount of your tax benefit in the earlier year. How to file an amended tax return for 2013 (See Recoveries in chapter 12. How to file an amended tax return for 2013 ) Employer pays the employment agency. How to file an amended tax return for 2013   If your employer pays the fees directly to the employment agency and you are not responsible for them, you do not include them in your gross income. How to file an amended tax return for 2013 Résumé. How to file an amended tax return for 2013   You can deduct amounts you spend for preparing and mailing copies of a résumé to prospective employers if you are looking for a new job in your present occupation. How to file an amended tax return for 2013 Travel and transportation expenses. How to file an amended tax return for 2013   If you travel to an area and, while there, you look for a new job in your present occupation, you may be able to deduct travel expenses to and from the area. How to file an amended tax return for 2013 You can deduct the travel expenses if the trip is primarily to look for a new job. How to file an amended tax return for 2013 The amount of time you spend on personal activity compared to the amount of time you spend in looking for work is important in determining whether the trip is primarily personal or is primarily to look for a new job. How to file an amended tax return for 2013   Even if you cannot deduct the travel expenses to and from an area, you can deduct the expenses of looking for a new job in your present occupation while in the area. How to file an amended tax return for 2013   You can choose to use the standard mileage rate to figure your car expenses. How to file an amended tax return for 2013 The 2013 rate for business use of a vehicle is 56½ cents per mile. How to file an amended tax return for 2013 See chapter 26 for more information. How to file an amended tax return for 2013 Licenses and Regulatory Fees You can deduct the amount you pay each year to state or local governments for licenses and regulatory fees for your trade, business, or profession. How to file an amended tax return for 2013 Occupational Taxes You can deduct an occupational tax charged at a flat rate by a locality for the privilege of working or conducting a business in the locality. How to file an amended tax return for 2013 If you are an employee, you can claim occupational taxes only as a miscellaneous deduction subject to the 2% limit; you cannot claim them as a deduction for taxes elsewhere on your return. How to file an amended tax return for 2013 Repayment of Income Aid Payment An “income aid payment” is one that is received under an employer's plan to aid employees who lose their jobs because of lack of work. How to file an amended tax return for 2013 If you repay a lump-sum income aid payment that you received and included in income in an earlier year, you can deduct the repayment. How to file an amended tax return for 2013 Research Expenses of a College Professor If you are a college professor, you can deduct research expenses, including travel expenses, for teaching, lecturing, or writing and publishing on subjects that relate directly to your teaching duties. How to file an amended tax return for 2013 You must have undertaken the research as a means of carrying out the duties expected of a professor and without expectation of profit apart from salary. How to file an amended tax return for 2013 However, you cannot deduct the cost of travel as a form of education. How to file an amended tax return for 2013 Tools Used in Your Work Generally, you can deduct amounts you spend for tools used in your work if the tools wear out and are thrown away within 1 year from the date of purchase. How to file an amended tax return for 2013 You can depreciate the cost of tools that have a useful life substantially beyond the tax year. How to file an amended tax return for 2013 For more information about depreciation, see Publication 946. How to file an amended tax return for 2013 Union Dues and Expenses You can deduct dues and initiation fees you pay for union membership. How to file an amended tax return for 2013 You can also deduct assessments for benefit payments to unemployed union members. How to file an amended tax return for 2013 However, you cannot deduct the part of the assessments or contributions that provides funds for the payment of sick, accident, or death benefits. How to file an amended tax return for 2013 Also, you cannot deduct contributions to a pension fund, even if the union requires you to make the contributions. How to file an amended tax return for 2013 You may not be able to deduct amounts you pay to the union that are related to certain lobbying and political activities. How to file an amended tax return for 2013 See Lobbying Expenses under Nondeductible Expenses, later. How to file an amended tax return for 2013 Work Clothes and Uniforms You can deduct the cost and upkeep of work clothes if the following two requirements are met. How to file an amended tax return for 2013 You must wear them as a condition of your employment. How to file an amended tax return for 2013 The clothes are not suitable for everyday wear. How to file an amended tax return for 2013 It is not enough that you wear distinctive clothing. How to file an amended tax return for 2013 The clothing must be specifically required by your employer. How to file an amended tax return for 2013 Nor is it enough that you do not, in fact, wear your work clothes away from work. How to file an amended tax return for 2013 The clothing must not be suitable for taking the place of your regular clothing. How to file an amended tax return for 2013 Examples of workers who may be able to deduct the cost and upkeep of work clothes are: delivery workers, firefighters, health care workers, law enforcement officers, letter carriers, professional athletes, and transportation workers (air, rail, bus, etc. How to file an amended tax return for 2013 ). How to file an amended tax return for 2013 Musicians and entertainers can deduct the cost of theatrical clothing and accessories that are not suitable for everyday wear. How to file an amended tax return for 2013 However, work clothing consisting of white cap, white shirt or white jacket, white bib overalls, and standard work shoes, which a painter is required by his union to wear on the job, is not distinctive in character or in the nature of a uniform. How to file an amended tax return for 2013 Similarly, the costs of buying and maintaining blue work clothes worn by a welder at the request of a foreman are not deductible. How to file an amended tax return for 2013 Protective clothing. How to file an amended tax return for 2013   You can deduct the cost of protective clothing required in your work, such as safety shoes or boots, safety glasses, hard hats, and work gloves. How to file an amended tax return for 2013   Examples of workers who may be required to wear safety items are: carpenters, cement workers, chemical workers, electricians, fishing boat crew members, machinists, oil field workers, pipe fitters, steamfitters, and truck drivers. How to file an amended tax return for 2013 Military uniforms. How to file an amended tax return for 2013   You generally cannot deduct the cost of your uniforms if you are on full-time active duty in the armed forces. How to file an amended tax return for 2013 However, if you are an armed forces reservist, you can deduct the unreimbursed cost of your uniform if military regulations restrict you from wearing it except while on duty as a reservist. How to file an amended tax return for 2013 In figuring the deduction, you must reduce the cost by any nontaxable allowance you receive for these expenses. How to file an amended tax return for 2013   If local military rules do not allow you to wear fatigue uniforms when you are off duty, you can deduct the amount by which the cost of buying and keeping up these uniforms is more than the uniform allowance you receive. How to file an amended tax return for 2013   You can deduct the cost of your uniforms if you are a civilian faculty or staff member of a military school. How to file an amended tax return for 2013 Tax Preparation Fees (Line 22) You can usually deduct tax preparation fees in the year you pay them. How to file an amended tax return for 2013 Thus, on your 2013 return, you can deduct fees paid in 2013 for preparing your 2012 return. How to file an amended tax return for 2013 These fees include the cost of tax preparation software programs and tax publications. How to file an amended tax return for 2013 They also include any fee you paid for electronic filing of your return. How to file an amended tax return for 2013 Other Expenses (Line 23) You can deduct certain other expenses as miscellaneous itemized deductions subject to the 2% limit. How to file an amended tax return for 2013 On Schedule A (Form 1040), line 23, you can deduct expenses that you pay: To produce or collect income that must be included in your gross income, To manage, conserve, or maintain property held for producing such income, or To determine, contest, pay, or claim a refund of any tax. How to file an amended tax return for 2013 You can deduct expenses you pay for the purposes in (1) and (2) above only if they are reasonably and closely related to these purposes. How to file an amended tax return for 2013 Some of these other expenses are explained in the following discussions. How to file an amended tax return for 2013 If the expenses you pay produce income that is only partially taxable, see Tax-Exempt Income Expenses , later, under Nondeductible Expenses. How to file an amended tax return for 2013 Appraisal Fees You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property. How to file an amended tax return for 2013 Casualty and Theft Losses You can deduct a casualty or theft loss as a miscellaneous itemized deduction subject to the 2% limit if you used the damaged or stolen property in performing services as an employee. How to file an amended tax return for 2013 First report the loss in Section B of Form 4684, Casualties and Thefts. How to file an amended tax return for 2013 You may also have to include the loss on Form 4797, Sales of Business Property, if you are otherwise required to file that form. How to file an amended tax return for 2013 To figure your deduction, add all casualty or theft losses from this type of property included on Form 4684, lines 32 and 38b, or Form 4797, line 18a. How to file an amended tax return for 2013 For other casualty and theft losses, see chapter 25. How to file an amended tax return for 2013 Clerical Help and Office Rent You can deduct office expenses, such as rent and clerical help, that you have in connection with your investments and collecting the taxable income on them. How to file an amended tax return for 2013 Credit or Debit Card Convenience Fees You can deduct the convenience fee charged by the card processor for paying your income tax (including estimated tax payments) by credit or debit card. How to file an amended tax return for 2013 The fees are deductible in the year paid. How to file an amended tax return for 2013 Depreciation on Home Computer You can deduct depreciation on your home computer if you use it to produce income (for example, to manage your investments that produce taxable income). How to file an amended tax return for 2013 You generally must depreciate the computer using the straight line method over the Alternative Depreciation System (ADS) recovery period. How to file an amended tax return for 2013 But if you work as an employee and also use the computer in that work, see Publication 946. How to file an amended tax return for 2013 Excess Deductions of an Estate If an estate's total deductions in its last tax year are more than its gross income for that year, the beneficiaries succeeding to the estate's property can deduct the excess. How to file an amended tax return for 2013 Do not include deductions for the estate's personal exemption and charitable contributions when figuring the estate's total deductions. How to file an amended tax return for 2013 The beneficiaries can claim the deduction only for the tax year in which, or with which, the estate terminates, whether the year of termination is a normal year or a short tax year. How to file an amended tax return for 2013 For more information, see Termination of Estate in Publication 559, Survivors, Executors, and Administrators. How to file an amended tax return for 2013 Fees to Collect Interest and Dividends You can deduct fees you pay to a broker, bank, trustee, or similar agent to collect your taxable bond interest or dividends on shares of stock. How to file an amended tax return for 2013 But you cannot deduct a fee you pay to a broker to buy investment property, such as stocks or bonds. How to file an amended tax return for 2013 You must add the fee to the cost of the property. How to file an amended tax return for 2013 You cannot deduct the fee you pay to a broker to sell securities. How to file an amended tax return for 2013 You can use the fee only to figure gain or loss from the sale. How to file an amended tax return for 2013 See the Instructions for Form 8949 for information on how to report the fee. How to file an amended tax return for 2013 Hobby Expenses You can generally deduct hobby expenses, but only up to the amount of hobby income. How to file an amended tax return for 2013 A hobby is not a business because it is not carried on to make a profit. How to file an amended tax return for 2013 See Activity not for profit in chapter 12 under Other Income. How to file an amended tax return for 2013 Indirect Deductions of Pass-Through Entities Pass-through entities include partnerships, S corporations, and mutual funds that are not publicly offered. How to file an amended tax return for 2013 Deductions of pass-through entities are passed through to the partners or shareholders. How to file an amended tax return for 2013 The partners or shareholders can deduct their share of passed-through deductions for investment expenses as miscellaneous itemized deductions subject to the 2% limit. How to file an amended tax return for 2013 Example. How to file an amended tax return for 2013 You are a member of an investment club that is formed solely to invest in securities. How to file an amended tax return for 2013 The club is treated as a partnership. How to file an amended tax return for 2013 The partnership's income is solely from taxable dividends, interest, and gains from sales of securities. How to file an amended tax return for 2013 In this case, you can deduct your share of the partnership's operating expenses as miscellaneous itemized deductions subject to the 2% limit. How to file an amended tax return for 2013 However, if the investment club partnership has investments that also produce nontaxable income, you cannot deduct your share of the partnership's expenses that produce the nontaxable income. How to file an amended tax return for 2013 Publicly offered mutual funds. How to file an amended tax return for 2013   Publicly offered mutual funds do not pass deductions for investment expenses through to shareholders. How to file an amended tax return for 2013 A mutual fund is “publicly offered” if it is: Continuously offered pursuant to a public offering, Regularly traded on an established securities market, or Held by or for at least 500 persons at all times during the tax year. How to file an amended tax return for 2013   A publicly offered mutual fund will send you a Form 1099-DIV, Dividends and Distributions, or a substitute form, showing the net amount of dividend income (gross dividends minus investment expenses). How to file an amended tax return for 2013 This net figure is the amount you report on your return as income. How to file an amended tax return for 2013 You cannot further deduct investment expenses related to publicly offered mutual funds because they are already included as part of the net income amount. How to file an amended tax return for 2013 Information returns. How to file an amended tax return for 2013   You should receive information returns from pass-through entities. How to file an amended tax return for 2013 Partnerships and S corporations. How to file an amended tax return for 2013   These entities issue Schedule K-1, which lists the items and amounts you must report and identifies the tax return schedules and lines to use. How to file an amended tax return for 2013 Nonpublicly offered mutual funds. How to file an amended tax return for 2013   These funds will send you a Form 1099-DIV, Dividends and Distributions, or a substitute form, showing your share of gross income and investment expenses. How to file an amended tax return for 2013 You can claim the expenses only as a miscellaneous itemized deduction subject to the 2% limit. How to file an amended tax return for 2013 Investment Fees and Expenses You can deduct investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income. How to file an amended tax return for 2013 Legal Expenses You can usually deduct legal expenses that you incur in attempting to produce or collect taxable income or that you pay in connection with the determination, collection, or refund of any tax. How to file an amended tax return for 2013 You can also deduct legal expenses that are: Related to either doing or keeping your job, such as those you paid to defend yourself against criminal charges arising out of your trade or business, For tax advice related to a divorce, if the bill specifies how much is for tax advice and it is determined in a reasonable way, or To collect taxable alimony. How to file an amended tax return for 2013 You can deduct expenses of resolving tax issues relating to profit or loss from business (Schedule C or C-EZ), rentals or royalties (Schedule E), or farm income and expenses (Schedule F), on the appropriate schedule. How to file an amended tax return for 2013 You deduct expenses of resolving nonbusiness tax issues on Schedule A (Form 1040). How to file an amended tax return for 2013 See Tax Preparation Fees , earlier. How to file an amended tax return for 2013 Loss on Deposits For information on whether, and if so, how, you may deduct a loss on your deposit in a qualified financial institution, see Loss on Deposits in chapter 25. How to file an amended tax return for 2013 Repayments of Income If you had to repay an amount that you included in income in an earlier year, you may be able to deduct the amount you repaid. How to file an amended tax return for 2013 If the amount you had to repay was ordinary income of $3,000 or less, the deduction is subject to the 2% limit. How to file an amended tax return for 2013 If it was more than $3,000, see Repayments Under Claim of Right under Deductions Not Subject to the 2% Limit, later. How to file an amended tax return for 2013 Repayments of Social Security Benefits For information on how to deduct your repayments of certain social security benefits, see Repayments More Than Gross Benefits in chapter 11. How to file an amended tax return for 2013 Safe Deposit Box Rent You can deduct safe deposit box rent if you use the box to store taxable income-producing stocks, bonds, or investment-related papers and documents. How to file an amended tax return for 2013 You cannot deduct the rent if you use the box only for jewelry, other personal items, or tax-exempt securities. How to file an amended tax return for 2013 Service Charges on Dividend Reinvestment Plans You can deduct service charges you pay as a subscriber in a dividend reinvestment plan. How to file an amended tax return for 2013 These service charges include payments for: Holding shares acquired through a plan, Collecting and reinvesting cash dividends, and Keeping individual records and providing detailed statements of accounts. How to file an amended tax return for 2013 Trustee's Administrative Fees for IRA Trustee's administrative fees that are billed separately and paid by you in connection with your individual retirement arrangement (IRA) are deductible (if they are ordinary and necessary) as a miscellaneous itemized deduction subject to the 2% limit. How to file an amended tax return for 2013 For more information about IRAs, see chapter 17. How to file an amended tax return for 2013 Deductions Not Subject to the 2% Limit You can deduct the items listed below as miscellaneous itemized deductions. How to file an amended tax return for 2013 They are not subject to the 2% limit. How to file an amended tax return for 2013 Report these items on Schedule A (Form 1040), line 28. How to file an amended tax return for 2013 List of Deductions Each of the following items is discussed in detail after the list (except where indicated). How to file an amended tax return for 2013 Amortizable premium on taxable bonds. How to file an amended tax return for 2013 Casualty and theft losses from income- producing property. How to file an amended tax return for 2013 Federal estate tax on income in respect of a decedent. How to file an amended tax return for 2013 Gambling losses up to the amount of gambling winnings. How to file an amended tax return for 2013 Impairment-related work expenses of persons with disabilities. How to file an amended tax return for 2013 Loss from other activities from Schedule K-1 (Form 1065-B), box 2. How to file an amended tax return for 2013 Losses from Ponzi-type investment schemes. How to file an amended tax return for 2013 See Losses from Ponzi-type investment schemes under Theft in chapter 25. How to file an amended tax return for 2013 Repayments of more than $3,000 under a claim of right. How to file an amended tax return for 2013 Unrecovered investment in an annuity. How to file an amended tax return for 2013 Amortizable Premium on Taxable Bonds In general, if the amount you pay for a bond is greater than its stated principal amount, the excess is bond premium. How to file an amended tax return for 2013 You can elect to amortize the premium on taxable bonds. How to file an amended tax return for 2013 The amortization of the premium is generally an offset to interest income on the bond rather than a separate deduction item. How to file an amended tax return for 2013 Part of the premium on some bonds may be a miscellaneous deduction not subject to the 2% limit. How to file an amended tax return for 2013 For more information, see Amortizable Premium on Taxable Bonds in Publication 529, and Bond Premium Amortization in chapter 3 of Publication 550, Investment Income and Expenses. How to file an amended tax return for 2013 Casualty and Theft Losses of Income-Producing Property You can deduct a casualty or theft loss as a miscellaneous itemized deduction not subject to the 2% limit if the damaged or stolen property was income-producing property (property held for investment, such as stocks, notes, bonds, gold, silver, vacant lots, and works of art). How to file an amended tax return for 2013 First, report the loss in Form 4684, Section B. How to file an amended tax return for 2013 You may also have to include the loss on Form 4797, Sales of Business Property if you are otherwise required to file that form. How to file an amended tax return for 2013 To figure your deduction, add all casualty or theft losses from this type of property included on Form 4684, lines 32 and 38b, or Form 4797, line 18a. How to file an amended tax return for 2013 For more information on casualty and theft losses, see chapter 25. How to file an amended tax return for 2013 Federal Estate Tax on Income in Respect of a Decedent You can deduct the federal estate tax attributable to income in respect of a decedent that you as a beneficiary include in your gross income. How to file an amended tax return for 2013 Income in respect of the decedent is gross income that the decedent would have received had death not occurred and that was not properly includible in the decedent's final income tax return. How to file an amended tax return for 2013 See Publication 559 for more information. How to file an amended tax return for 2013 Gambling Losses Up to the Amount of Gambling Winnings You must report the full amount of your gambling winnings for the year on Form 1040, line 21. How to file an amended tax return for 2013 You deduct your gambling losses for the year on Schedule A (Form 1040), line 28. How to file an amended tax return for 2013 You cannot deduct gambling losses that are more than your winnings. How to file an amended tax return for 2013 You cannot reduce your gambling winnings by your gambling losses and report the difference. How to file an amended tax return for 2013 You must report the full amount of your winnings as income and claim your losses (up to the amount of winnings) as an itemized deduction. How to file an amended tax return for 2013 Therefore, your records should show your winnings separately from your losses. How to file an amended tax return for 2013 Diary of winnings and losses. How to file an amended tax return for 2013 You must keep an accurate diary or similar record of your losses and winnings. How to file an amended tax return for 2013 Your diary should contain at least the following information. How to file an amended tax return for 2013 The date and type of your specific wager or wagering activity. How to file an amended tax return for 2013 The name and address or location of the gambling establishment. How to file an amended tax return for 2013 The names of other persons present with you at the gambling establishment. How to file an amended tax return for 2013 The amount(s) you won or lost. How to file an amended tax return for 2013 See Publication 529 for more information. How to file an amended tax return for 2013 Impairment-Related Work Expenses If you have a physical or mental disability that limits your being employed, or substantially limits one or more of your major life activities, such as performing manual tasks, walking, speaking, breathing, learning, and working, you can deduct your impairment-related work expenses. How to file an amended tax return for 2013 Impairment-related work expenses are ordinary and necessary business expenses for attendant care services at your place of work and for other expenses in connection with your place of work that are necessary for you to be able to work. How to file an amended tax return for 2013 Self-employed. How to file an amended tax return for 2013   If you are self-employed, enter your impairment-related work expenses on the appropriate form (Schedule C, C-EZ, E, or F) used to report your business income and expenses. How to file an amended tax return for 2013 Loss From Other Activities From Schedule K-1 (Form 1065-B), Box 2 If the amount reported in Schedule K-1 (Form 1065-B), box 2, is a loss, report it on Schedule A (Form 1040), line 28. How to file an amended tax return for 2013 It is not subject to the passive activity limitations. How to file an amended tax return for 2013 Repayments Under Claim of Right If you had to repay more than $3,000 that you included in your income in an earlier year because at the time you thought you had an unrestricted right to it, you may be able to deduct the amount you repaid or take a credit against your tax. How to file an amended tax return for 2013 See Repayments in chapter 12 for more information. How to file an amended tax return for 2013 Unrecovered Investment in Annuity A retiree who contributed to the cost of an annuity can exclude from income a part of each payment received as a tax-free return of the retiree's investment. How to file an amended tax return for 2013 If the retiree dies before the entire investment is recovered tax free, any unrecovered investment can be deducted on the retiree's final income tax return. How to file an amended tax return for 2013 See chapter 10 for more information about the tax treatment of pensions and annuities. How to file an amended tax return for 2013 Nondeductible Expenses Examples of nondeductible expenses are listed next. How to file an amended tax return for 2013 The list is followed by discussions of additional nondeductible expenses. How to file an amended tax return for 2013 List of Nondeductible Expenses Broker's commissions that you paid in connection with your IRA or other investment property. How to file an amended tax return for 2013 Burial or funeral expenses, including the cost of a cemetery lot. How to file an amended tax return for 2013 Capital expenses. How to file an amended tax return for 2013 Fees and licenses, such as car licenses, marriage licenses, and dog tags. How to file an amended tax return for 2013 Hobby losses, but see Hobby Expenses , earlier. How to file an amended tax return for 2013 Home repairs, insurance, and rent. How to file an amended tax return for 2013 Illegal bribes and kickbacks. How to file an amended tax return for 2013 See Bribes and kickbacks in chapter 11 of Publication 535. How to file an amended tax return for 2013 Losses from the sale of your home, furniture, personal car, etc. How to file an amended tax return for 2013 Personal disability insurance premiums. How to file an amended tax return for 2013 Personal, living, or family expenses. How to file an amended tax return for 2013 The value of wages never received or lost vacation time. How to file an amended tax return for 2013 Adoption Expenses You cannot deduct the expenses of adopting a child, but you may be able to take a credit for those expenses. How to file an amended tax return for 2013 See chapter 37. How to file an amended tax return for 2013 Campaign Expenses You cannot deduct campaign expenses of a candidate for any office, even if the candidate is running for reelection to the office. How to file an amended tax return for 2013 These include qualification and registration fees for primary elections. How to file an amended tax return for 2013 Legal fees. How to file an amended tax return for 2013   You cannot deduct legal fees paid to defend charges that arise from participation in a political campaign. How to file an amended tax return for 2013 Check-Writing Fees on Personal Account If you have a personal checking account, you cannot deduct fees charged by the bank for the privilege of writing checks, even if the account pays interest. How to file an amended tax return for 2013 Club Dues Generally, you cannot deduct the cost of membership in any club organized for business, pleasure, recreation, or other social purpose. How to file an amended tax return for 2013 This includes business, social, athletic, luncheon, sporting, airline, hotel, golf, and country clubs. How to file an amended tax return for 2013 You cannot deduct dues paid to an organization if one of its main purposes is to: Conduct entertainment activities for members or their guests, or Provide members or their guests with access to entertainment facilities. How to file an amended tax return for 2013 Dues paid to airline, hotel, and luncheon clubs are not deductible. How to file an amended tax return for 2013 Commuting Expenses You cannot deduct commuting expenses (the cost of transportation between your home and your main or regular place of work). How to file an amended tax return for 2013 If you haul tools, instruments, or other items, in your car to and from work, you can deduct only the additional cost of hauling the items such as the rent on a trailer to carry the items. How to file an amended tax return for 2013 Fines or Penalties You cannot deduct fines or penalties you pay to a governmental unit for violating a law. How to file an amended tax return for 2013 This includes an amount paid in settlement of your actual or potential liability for a fine or penalty (civil or criminal). How to file an amended tax return for 2013 Fines or penalties include parking tickets, tax penalties, and penalties deducted from teachers' paychecks after an illegal strike. How to file an amended tax return for 2013 Health Spa Expenses You cannot deduct health spa expenses, even if there is a job requirement to stay in excellent physical condition, such as might be required of a law enforcement officer. How to file an amended tax return for 2013 Home Security System You cannot deduct the cost of a home security system as a miscellaneous deduction. How to file an amended tax return for 2013 However, you may be able to claim a deduction for a home security system as a business expense if you have a home office. How to file an amended tax return for 2013 See Home Office under Unreimbursed Employee Expenses, earlier, and Security System under Deducting Expenses in Publication 587. How to file an amended tax return for 2013 Investment-Related Seminars You cannot deduct any expenses for attending a convention, seminar, or similar meeting for investment purposes. How to file an amended tax return for 2013 Life Insurance Premiums You cannot deduct premiums you pay on your life insurance. How to file an amended tax return for 2013 You may be able to deduct, as alimony, premiums you pay on life insurance policies assigned to your former spouse. How to file an amended tax return for 2013 See chapter 18 for information on alimony. How to file an amended tax return for 2013 Lobbying Expenses You generally cannot deduct amounts paid or incurred for lobbying expenses. How to file an amended tax return for 2013 These include expenses to: Influence legislation, Participate or intervene in any political campaign for, or against, any candidate for public office, Attempt to influence the general public, or segments of the public, about elections, legislative matters, or referendums, or Communicate directly with covered executive branch officials in any attempt to influence the official actions or positions of those officials. How to file an amended tax return for 2013 Lobbying expenses also include any amounts paid or incurred for research, preparation, planning, or coordination of any of these activities. How to file an amended tax return for 2013 Dues used for lobbying. How to file an amended tax return for 2013   If a tax-exempt organization notifies you that part of the dues or other amounts you pay to the organization are used to pay nondeductible lobbying expenses, you cannot deduct that part. How to file an amended tax return for 2013 See Lobbying Expenses in Publication 529 for information on exceptions. How to file an amended tax return for 2013 Lost or Mislaid Cash or Property You cannot deduct a loss based on the mere disappearance of money or property. How to file an amended tax return for 2013 However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. How to file an amended tax return for 2013 See chapter 25. How to file an amended tax return for 2013 Example. How to file an amended tax return for 2013 A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. How to file an amended tax return for 2013 The diamond falls from the ring and is never found. How to file an amended tax return for 2013 The loss of the diamond is a casualty. How to file an amended tax return for 2013 Lunches with Co-workers You cannot deduct the expenses of lunches with co-workers, except while traveling away from home on business. How to file an amended tax return for 2013 See chapter 26 for information on deductible expenses while traveling away from home. How to file an amended tax return for 2013 Meals While Working Late You cannot deduct the cost of meals while working late. How to file an amended tax return for 2013 However, you may be able to claim a deduction if the cost of meals is a deductible entertainment expense, or if you are traveling away from home. How to file an amended tax return for 2013 See chapter 26 for information on deductible entertainment expenses and expenses while traveling away from home. How to file an amended tax return for 2013 Personal Legal Expenses You cannot deduct personal legal expenses such as those for the following. How to file an amended tax return for 2013 Custody of children. How to file an amended tax return for 2013 Breach of promise to marry suit. How to file an amended tax return for 2013 Civil or criminal charges resulting from a personal relationship. How to file an amended tax return for 2013 Damages for personal injury, except for certain unlawful discrimination and whistleblower claims. How to file an amended tax return for 2013 Preparation of a title (or defense or perfection of a title). How to file an amended tax return for 2013 Preparation of a will. How to file an amended tax return for 2013 Property claims or property settlement in a divorce. How to file an amended tax return for 2013 You cannot deduct these expenses even if a result of the legal proceeding is the loss of income-producing property. How to file an amended tax return for 2013 Political Contributions You cannot deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. How to file an amended tax return for 2013 Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate are not deductible. How to file an amended tax return for 2013 Professional Accreditation Fees You cannot deduct professional accreditation fees such as the following. How to file an amended tax return for 2013 Accounting certificate fees paid for the initial right to practice accounting. How to file an amended tax return for 2013 Bar exam fees and incidental expenses in securing initial admission to the bar. How to file an amended tax return for 2013 Medical and dental license fees paid to get initial licensing. How to file an amended tax return for 2013 Professional Reputation You cannot deduct expenses of radio and TV appearances to increase your personal prestige or establish your professional reputation. How to file an amended tax return for 2013 Relief Fund Contributions You cannot deduct contributions paid to a private plan that pays benefits to any covered employee who cannot work because of any injury or illness not related to the job. How to file an amended tax return for 2013 Residential Telephone Service You cannot deduct any charge (including taxes) for basic local telephone service for the first telephone line to your residence, even if it is used in a trade or business. How to file an amended tax return for 2013 Stockholders' Meetings You cannot deduct transportation and other expenses you pay to attend stockholders' meetings of companies in which you own stock but have no other interest. How to file an amended tax return for 2013 You cannot deduct these expenses even if you are attending the meeting to get information that would be useful in making further investments. How to file an amended tax return for 2013 Tax-Exempt Income Expenses You cannot deduct expenses to produce tax-exempt income. How to file an amended tax return for 2013 You cannot deduct interest on a debt incurred or continued to buy or carry  tax-exempt securities. How to file an amended tax return for 2013 If you have expenses to produce both taxable and tax-exempt income, but you cannot identify the expenses that produce each type of income, you must divide the expenses based on the amount of each type of income to determine the amount that you can deduct. How to file an amended tax return for 2013 Example. How to file an amended tax return for 2013 During the year, you received taxable interest of $4,800 and tax-exempt interest of $1,200. How to file an amended tax return for 2013 In earning this income, you had total expenses of $500 during the year. How to file an amended tax return for 2013 You cannot identify the amount of each expense item that is for each income item. How to file an amended tax return for 2013 Therefore, 80% ($4,800/$6,000) of the expense is for the taxable interest and 20% ($1,200/$6,000) is for the tax-exempt interest. How to file an amended tax return for 2013 You can deduct, subject to the 2% limit, expenses of $400 (80% of $500). How to file an amended tax return for 2013 Travel Expenses for Another Individual You generally cannot deduct travel expenses you pay or incur for a spouse, dependent, or other individual who accompanies you (or your employee) on business or personal travel unless the spouse, dependent, or other individual is an employee of the taxpayer, the travel is for a bona fide business purpose, and such expenses would otherwise be deductible by the spouse, dependent, or other individual. How to file an amended tax return for 2013 See chapter 26 for more information on deductible travel expenses. How to file an amended tax return for 2013 Voluntary Unemployment Benefit Fund Contributions You cannot deduct voluntary unemployment benefit fund contributions you make to a union fund or a private fund. How to file an amended tax return for 2013 However, you can deduct contributions as taxes if state law requires you to make them to a state unemployment fund that covers you for the loss of wages from unemployment caused by business conditions. How to file an amended tax return for 2013 Wristwatches You cannot deduct the cost of a wristwatch, even if there is a job requirement that you know the correct time to properly perform your duties. How to file an amended tax return for 2013 Prev  Up  Next   Home   More Online Publications