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How To Fill Out Tax Form 1040x

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How To Fill Out Tax Form 1040x

How to fill out tax form 1040x 1. How to fill out tax form 1040x   Filing and Paying Business Taxes Table of Contents Introduction Useful Items - You may want to see: Identification NumbersNew EIN. How to fill out tax form 1040x Employee. How to fill out tax form 1040x Other payee. How to fill out tax form 1040x Income TaxDo I Have To File an Income Tax Return? How Do I File? IRS e-file (Electronic Filing) When Is My Tax Return Due? How Do I Pay Income Tax? Self-Employment (SE) TaxHow to become insured under social security. How to fill out tax form 1040x Earning credits in 2013 and 2014. How to fill out tax form 1040x Employment Taxes Excise Taxes Information ReturnsWaiver of penalties. How to fill out tax form 1040x Penalties. How to fill out tax form 1040x Introduction This chapter explains the business taxes you may have to pay and the forms you may have to file. How to fill out tax form 1040x It also discusses taxpayer identification numbers. How to fill out tax form 1040x Table 1-1 lists the benefits of filing electronically. How to fill out tax form 1040x Table 1-2 lists the federal taxes you may have to pay, their due dates, and the forms you use to report them. How to fill out tax form 1040x Table 1-3 provides checklists that highlight the typical forms and schedules you may need to file if you ever go out of business. How to fill out tax form 1040x You may want to get Publication 509, Tax Calendars. How to fill out tax form 1040x It has tax calendars that tell you when to file returns and make tax payments. How to fill out tax form 1040x Useful Items - You may want to see: Publication 505 Tax Withholding and Estimated Tax Form (and Instructions) 1040 U. How to fill out tax form 1040x S. How to fill out tax form 1040x Individual Income Tax Return 1040-ES Estimated Tax for Individuals Sch C (Form 1040) Profit or Loss From Business Sch C-EZ (Form 1040) Net Profit From Business Sch SE (Form 1040) Self-Employment Tax See chapter 12 for information about getting publications and forms. How to fill out tax form 1040x Identification Numbers This section explains three types of taxpayer identification numbers, who needs them, when to use them, and how to get them. How to fill out tax form 1040x Social security number (SSN). How to fill out tax form 1040x   Generally, use your SSN as your taxpayer identification number. How to fill out tax form 1040x You must put this number on each of your individual income tax forms, such as Form 1040 and its schedules. How to fill out tax form 1040x   To apply for an SSN, use Form SS-5, Application for a Social Security Card. How to fill out tax form 1040x This form is available at Social Security Administration (SSA) offices or by calling 1-800-772-1213. How to fill out tax form 1040x It is also available from the SSA website at www. How to fill out tax form 1040x socialsecurity. How to fill out tax form 1040x gov. How to fill out tax form 1040x Individual taxpayer identification number (ITIN). How to fill out tax form 1040x   The IRS will issue an ITIN if you are a nonresident or resident alien and you do not have and are not eligible to get an SSN. How to fill out tax form 1040x In general, if you need to obtain an ITIN, you must attach Form W-7, Application for IRS Individual Taxpayer Identification Number, with your signed, original, completed tax return and any other required documentation and mail them to the following address. How to fill out tax form 1040x  Internal Revenue Service ITIN Operation P. How to fill out tax form 1040x O. How to fill out tax form 1040x Box 149342 Austin, TX 78714-9342 The exceptions are covered in detail in the instructions for Form W-7. How to fill out tax form 1040x If you must include another person's SSN on your return and that person does not have and cannot get an SSN, enter that person's ITIN. How to fill out tax form 1040x The application is also available in Spanish. How to fill out tax form 1040x The form is available at IRS. How to fill out tax form 1040x gov or you can call 1-800-829-3676 to order the form. How to fill out tax form 1040x    An ITIN is for tax use only. How to fill out tax form 1040x It does not entitle the holder to social security benefits or change the holder's employment or immigration status. How to fill out tax form 1040x Employer identification number (EIN). How to fill out tax form 1040x   You must also have an EIN to use as a taxpayer identification number if you do either of the following. How to fill out tax form 1040x Pay wages to one or more employees. How to fill out tax form 1040x File pension or excise tax returns. How to fill out tax form 1040x   If you must have an EIN, include it along with your SSN on your Schedule C or C-EZ. How to fill out tax form 1040x   You can apply for an EIN: Online by clicking on the Employer ID Numbers (EINs) link at www. How to fill out tax form 1040x irs. How to fill out tax form 1040x gov/businesses/small. How to fill out tax form 1040x The EIN is issued immediately once the application information is validated. How to fill out tax form 1040x By telephone at 1-800-829-4933. How to fill out tax form 1040x By mailing or faxing Form SS-4, Application for Employer Identification Number. How to fill out tax form 1040x New EIN. How to fill out tax form 1040x   You may need to get a new EIN if either the form or the ownership of your business changes. How to fill out tax form 1040x For more information, see Publication 1635, Understanding Your EIN. How to fill out tax form 1040x When you need identification numbers of other persons. How to fill out tax form 1040x   In operating your business, you will probably make certain payments you must report on information returns. How to fill out tax form 1040x These payments are discussed under Information Returns, later in this chapter. How to fill out tax form 1040x You must give the recipient of these payments (the payee) a statement showing the total amount paid during the year. How to fill out tax form 1040x You must include the payee's identification number and your identification number on the returns and statements. How to fill out tax form 1040x Employee. How to fill out tax form 1040x   If you have employees, you must get an SSN from each of them. How to fill out tax form 1040x Record the name and SSN of each employee exactly as they are shown on the employee's social security card. How to fill out tax form 1040x If the employee's name is not correct as shown on the card, the employee should request a new card from the SSA. How to fill out tax form 1040x This may occur if the employee's name was changed due to marriage or divorce. How to fill out tax form 1040x   Form W-4, Employee's Withholding Allowance Certificate, is completed by each employee so the correct federal income tax can be withheld from their pay. How to fill out tax form 1040x   If your employee does not have an SSN, he or she should file Form SS-5 with the SSA. How to fill out tax form 1040x Other payee. How to fill out tax form 1040x   If you make payments to someone who is not your employee and you must report the payments on an information return, get that person's SSN. How to fill out tax form 1040x If you must report payments to an organization, such as a corporation or partnership, you must get its EIN. How to fill out tax form 1040x   To get the payee's SSN or EIN, use Form W-9, Request for Taxpayer Identification Number and Certification. How to fill out tax form 1040x   A payee who does not provide you with an identification number may be subject to backup withholding. How to fill out tax form 1040x For information on backup withholding, see the Form W-9 instructions and the General Instructions for Certain Information Returns. How to fill out tax form 1040x Income Tax This part explains whether you have to file an income tax return and when you file it. How to fill out tax form 1040x It also explains how you pay the tax. How to fill out tax form 1040x Do I Have To File an Income Tax Return? You have to file an income tax return for 2013 if your net earnings from self-employment were $400 or more. How to fill out tax form 1040x If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions. How to fill out tax form 1040x How Do I File? File your income tax return on Form 1040 and attach Schedule C or Schedule C-EZ. How to fill out tax form 1040x Enter the net profit or loss from Schedule C or Schedule C-EZ on page 1 of Form 1040. How to fill out tax form 1040x Use Schedule C to figure your net profit or loss from your business. How to fill out tax form 1040x If you operated more than one business as a sole proprietorship, you must attach a separate Schedule C for each business. How to fill out tax form 1040x You can use the simpler Schedule C-EZ if you operated only one business as a sole proprietorship, you did not have a net loss, and you meet the other requirements listed in Part I of the schedule. How to fill out tax form 1040x IRS e-file (Electronic Filing) Please click here for the text description of the image. How to fill out tax form 1040x E-file logo You may be able to file your tax returns electronically using an IRS e-file option. How to fill out tax form 1040x Table 1-1 lists the benefits of IRS e-file. How to fill out tax form 1040x IRS e-file uses automation to replace most of the manual steps needed to process paper returns. How to fill out tax form 1040x As a result, the processing of e-file returns is faster and more accurate than the processing of paper returns. How to fill out tax form 1040x As with a paper return, you are responsible for making sure your return contains accurate information and is filed on time. How to fill out tax form 1040x Using e-file does not affect your chances of an IRS examination of your return. How to fill out tax form 1040x You can file most commonly used business forms using IRS e-file. How to fill out tax form 1040x For more information, visit IRS. How to fill out tax form 1040x gov. How to fill out tax form 1040x Electronic signatures. How to fill out tax form 1040x   Paperless filing is easier than you think and it's available to most taxpayers who file electronically—including those first-time filers who were 16 or older at the end of 2013. How to fill out tax form 1040x If you file electronically using tax preparation software or a tax professional, you will participate in the Self-Select PIN (personal identification number) program. How to fill out tax form 1040x If you are married filing jointly, you and your spouse will each need to create a PIN and enter these PINs as your electronic signatures. How to fill out tax form 1040x    To create a PIN, you must know your adjusted gross income (AGI) from your originally filed 2012 income tax return (not from an amended return, Form 1040X, or any math error notice from the IRS). How to fill out tax form 1040x You will also need to provide your date of birth (DOB). How to fill out tax form 1040x Make sure your DOB is accurate and matches the information on record with the Social Security Administration before you e-file. How to fill out tax form 1040x To do this, check your annual Social Security Statement. How to fill out tax form 1040x   With a Self-Select PIN, there is nothing to sign and nothing to mail—not even your Forms W-2. How to fill out tax form 1040x For more details on the Self-Select PIN program, visit IRS. How to fill out tax form 1040x gov. How to fill out tax form 1040x State returns. How to fill out tax form 1040x   In most states, you can file an electronic state return simultaneously with your federal return. How to fill out tax form 1040x For more information, check with your local IRS office, state tax agency, tax professional, or IRS. How to fill out tax form 1040x gov. How to fill out tax form 1040x Refunds. How to fill out tax form 1040x   You can have your refund check mailed to you, or you can have your refund deposited directly to your checking or savings account. How to fill out tax form 1040x   With e-file, your refund will be issued in half the time as when filing on paper. How to fill out tax form 1040x Most refunds are issued within 3 weeks. How to fill out tax form 1040x If you choose Direct Deposit, you can receive your refund in as few as 10 days. How to fill out tax form 1040x Offset against debts. How to fill out tax form 1040x   As with a paper return, you may not get all of your refund if you owe certain past-due amounts, such as federal tax, state tax, a student loan, or child support. How to fill out tax form 1040x You will be notified if the refund you claimed has been offset against your debts. How to fill out tax form 1040x Refund inquiries. How to fill out tax form 1040x   You can check the status of your refund if it has been at least 24 hours (4 weeks if you mailed a paper return) from the date you filed your return. How to fill out tax form 1040x Be sure to have a copy of your tax return available because you will need to know the filing status, the first social security number shown on the return, and the exact whole-dollar amount of the refund. How to fill out tax form 1040x To check on your refund, do one of the following. How to fill out tax form 1040x Go to IRS. How to fill out tax form 1040x gov and click on Where's My Refund. How to fill out tax form 1040x Call 1-800-829-4477 for automated refund information, and follow the recorded instructions. How to fill out tax form 1040x Call 1-800-829-1954 during the hours shown in your form instructions. How to fill out tax form 1040x Balance due. How to fill out tax form 1040x   If you owe tax, you must pay it by April 15, 2014, to avoid late-payment penalties and interest. How to fill out tax form 1040x You can make your payment electronically by scheduling an electronic funds withdrawal from your checking or savings account or by credit card. How to fill out tax form 1040x Using an Authorized IRS e-file Provider Many tax professionals can electronically file paperless returns for their clients. How to fill out tax form 1040x You have two options. How to fill out tax form 1040x You can prepare your return, take it to an authorized IRS e-file provider, and have the provider transmit it electronically to the IRS. How to fill out tax form 1040x You can have an authorized IRS e-file provider prepare your return and transmit it for you electronically. How to fill out tax form 1040x You will be asked to complete Form 8879, IRS e-file Signature Authorization, to authorize the provider to enter your self-selected PIN on your return. How to fill out tax form 1040x Depending on the provider and the specific services requested, a fee may be charged. How to fill out tax form 1040x To find an authorized IRS e-file provider near you, go to IRS. How to fill out tax form 1040x gov or look for an “Authorized IRS e-file Provider” sign. How to fill out tax form 1040x Using Your Personal Computer A computer with Internet access is all you need to file your tax return using IRS e-file. How to fill out tax form 1040x When you use your personal computer, you can e-file your return from your home any time of the day or night. How to fill out tax form 1040x Sign your return electronically using a self-selected PIN to complete the process. How to fill out tax form 1040x There is no signature form to submit or Forms W-2 to send in. How to fill out tax form 1040x Free Internet filing options. How to fill out tax form 1040x   More taxpayers can now prepare and e-file their individual income tax returns free using commercial tax preparation software accessible through IRS. How to fill out tax form 1040x gov or www. How to fill out tax form 1040x usa. How to fill out tax form 1040x gov. How to fill out tax form 1040x The IRS is partnering with the tax software industry to offer free preparation and filing services to a significant number of taxpayers. How to fill out tax form 1040x Security and privacy certificate programs will assure tax data is safe and secure. How to fill out tax form 1040x To see if you qualify for these services, visit the Return Preparation and Filing Options page at IRS. How to fill out tax form 1040x gov. How to fill out tax form 1040x   If you cannot use the free services, you can buy tax preparation software at various electronics stores or computer and office supply stores. How to fill out tax form 1040x You can also download software from the Internet or prepare and file your return completely online by using tax preparation software available on the Internet. How to fill out tax form 1040x Filing Through Employers and Financial Institutions Some businesses offer free e-file to their employees, members, or customers. How to fill out tax form 1040x Others offer it for a fee. How to fill out tax form 1040x Ask your employer or financial institution if they offer IRS e-file as an employee, member, or customer benefit. How to fill out tax form 1040x Free Help With Your Return Free help in preparing your return is available nationwide from IRS-trained volunteers. How to fill out tax form 1040x The Volunteer Income Tax Assistance (VITA) program is designed to help low-income taxpayers, and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 or older with their tax returns. How to fill out tax form 1040x Some locations offer free electronic filing. How to fill out tax form 1040x Table 1-1. How to fill out tax form 1040x Benefits of IRS e-file Accuracy • Your chance of getting an error notice from the IRS is significantly reduced. How to fill out tax form 1040x Security • Your privacy and security are assured. How to fill out tax form 1040x Electronic signatures • Create your own personal identification number (PIN) and file a completely paperless return through your tax preparation software or tax professional. How to fill out tax form 1040x There is nothing to mail. How to fill out tax form 1040x Proof of acceptance • You receive an electronic acknowledgment within 48 hours that the IRS has accepted your return for processing. How to fill out tax form 1040x Fast refunds • You get your refund faster with Direct Deposit—in as few as 10 days. How to fill out tax form 1040x Free Internet filing options • Use IRS. How to fill out tax form 1040x gov to access commercial tax preparation and e-file services available at no cost to eligible taxpayers. How to fill out tax form 1040x Electronic payment options • Convenient, safe, and secure electronic payment options are available. How to fill out tax form 1040x E-file and pay your taxes in a single step. How to fill out tax form 1040x Schedule an electronic funds withdrawal from your checking or savings account (up to and including April 15, 2014) or pay by credit card. How to fill out tax form 1040x Federal/State filing • Prepare and file your federal and state tax returns together and double the benefits you get from e-file. How to fill out tax form 1040x When Is My Tax Return Due? Form 1040 for calendar year 2013 is due by April 15, 2014. How to fill out tax form 1040x If you use a fiscal year (explained in chapter 2), your return is due by the 15th day of the 4th month after the end of your fiscal year. How to fill out tax form 1040x If you file late, you may have to pay penalties and interest. How to fill out tax form 1040x If you cannot file your return on time, use Form 4868, Application for Automatic Extension of Time To File U. How to fill out tax form 1040x S. How to fill out tax form 1040x Individual Income Tax Return, to request an automatic 6-month extension. How to fill out tax form 1040x For calendar year taxpayers, this will extend the tax filing due date until October 15. How to fill out tax form 1040x Filing an extension does not extend the time to pay your taxes, only the time to file the tax return. How to fill out tax form 1040x How Do I Pay Income Tax? Federal income tax is a pay-as-you-go tax. How to fill out tax form 1040x You must pay it as you earn or receive income during the year. How to fill out tax form 1040x An employee usually has income tax withheld from his or her pay. How to fill out tax form 1040x If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. How to fill out tax form 1040x You generally have to make estimated tax payments if you expect to owe taxes, including self-employment tax (discussed later), of $1,000 or more when you file your return. How to fill out tax form 1040x Use Form 1040-ES to figure and pay the tax. How to fill out tax form 1040x If you do not have to make estimated tax payments, you can pay any tax due when you file your return. How to fill out tax form 1040x For more information on estimated tax, see Publication 505, Tax Withholding and Estimated Tax. How to fill out tax form 1040x What are my payment options?   You can pay your estimated tax electronically using various options. How to fill out tax form 1040x If you pay electronically, there is no need to mail in Form 1040-ES payment vouchers. How to fill out tax form 1040x These options include: Paying electronically through the Electronic Federal Tax Payment System (EFTPS). How to fill out tax form 1040x Paying by authorizing an electronic funds withdrawal when you file Form 1040 electronically. How to fill out tax form 1040x Paying by credit or debit card over the phone or by Internet. How to fill out tax form 1040x Other options include crediting an overpayment from your 2013 return to your 2014 estimated tax, or mailing a check or money order with a Form 1040-ES payment voucher. How to fill out tax form 1040x EFTPS    To enroll in EFTPS, go to www. How to fill out tax form 1040x eftps. How to fill out tax form 1040x gov or call 1-800-555-4477. How to fill out tax form 1040x When you request a new EIN and you will have a tax obligation, you are automatically enrolled in EFTPS. How to fill out tax form 1040x Benefits of EFTPS: The chance of an error in making your payments is reduced. How to fill out tax form 1040x You receive immediate confirmation of every transaction. How to fill out tax form 1040x Penalty for underpayment of tax. How to fill out tax form 1040x   If you did not pay enough income tax and self-employment tax for 2013 by withholding or by making estimated tax payments, you may have to pay a penalty on the amount not paid. How to fill out tax form 1040x The IRS will figure the penalty for you and send you a bill. How to fill out tax form 1040x Or you can use Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts, to see if you have to pay a penalty and to figure the penalty amount. How to fill out tax form 1040x For more information, see Publication 505. How to fill out tax form 1040x Self-Employment (SE) Tax Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. How to fill out tax form 1040x It is similar to the social security and Medicare taxes withheld from the pay of most wage earners. How to fill out tax form 1040x If you earned income as a statutory employee, you do not pay SE tax on that income. How to fill out tax form 1040x Social security coverage. How to fill out tax form 1040x   Social security benefits are available to self-employed persons just as they are to wage earners. How to fill out tax form 1040x Your payments of SE tax contribute to your coverage under the social security system. How to fill out tax form 1040x Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits. How to fill out tax form 1040x By not reporting all of your self-employment income, you could cause your social security benefits to be lower when you retire. How to fill out tax form 1040x How to become insured under social security. How to fill out tax form 1040x   You must be insured under the social security system before you begin receiving social security benefits. How to fill out tax form 1040x You are insured if you have the required number of credits (also called quarters of coverage), discussed next. How to fill out tax form 1040x Earning credits in 2013 and 2014. How to fill out tax form 1040x   For 2013, you received one credit, up to a maximum of four credits, for each $1,160 ($1,200 for 2014) of income subject to social security taxes. How to fill out tax form 1040x Therefore, for 2013, if you had income (self-employment and wages) of $4,640 that was subject to social security taxes, you receive four credits ($4,640 ÷ $1,160). How to fill out tax form 1040x   For an explanation of the number of credits you must have to be insured and the benefits available to you and your family under the social security program, consult your nearest Social Security Administration (SSA) office. How to fill out tax form 1040x    Making false statements to get or to increase social security benefits may subject you to penalties. How to fill out tax form 1040x The Social Security Administration (SSA) time limit for posting self-employment income. How to fill out tax form 1040x   Generally, the SSA will give you credit only for self-employment income reported on a tax return filed within 3 years, 3 months, and 15 days after the tax year you earned the income. How to fill out tax form 1040x If you file your tax return or report a change in your self-employment income after this time limit, the SSA may change its records, but only to remove or reduce the amount. How to fill out tax form 1040x The SSA will not change its records to increase your self-employment income. How to fill out tax form 1040x Who must pay self-employment tax. How to fill out tax form 1040x   You must pay SE tax and file Schedule SE (Form 1040) if either of the following applies. How to fill out tax form 1040x Your net earnings from self-employment (excluding church employee income) were $400 or more. How to fill out tax form 1040x You had church employee income of $108. How to fill out tax form 1040x 28 or more. How to fill out tax form 1040x The SE tax rules apply no matter how old you are and even if you are already receiving social security or Medicare benefits. How to fill out tax form 1040x SE tax rate. How to fill out tax form 1040x   For 2013, the SE tax rate on net earnings is 15. How to fill out tax form 1040x 3% (12. How to fill out tax form 1040x 4% social security tax plus 2. How to fill out tax form 1040x 9% Medicare tax). How to fill out tax form 1040x Maximum earnings subject to SE tax. How to fill out tax form 1040x   Only the first $113,700 of your combined wages, tips, and net earnings in 2013 is subject to any combination of the 12. How to fill out tax form 1040x 4% social security part of SE tax, social security tax, or railroad retirement (tier 1) tax. How to fill out tax form 1040x   All your combined wages, tips, and net earnings in 2013 are subject to any combination of the 2. How to fill out tax form 1040x 9% Medicare part of SE tax, social security tax, or railroad retirement (tier 1) tax. How to fill out tax form 1040x   If wages and tips you receive as an employee are subject to either social security or railroad retirement (tier 1) tax, or both, and total at least $113,700, do not pay the 12. How to fill out tax form 1040x 4% social security part of the SE tax on any of your net earnings. How to fill out tax form 1040x However, you must pay the 2. How to fill out tax form 1040x 9% Medicare part of the SE tax on all your net earnings. How to fill out tax form 1040x Deduct one-half of your SE tax as an adjustment to income on line 27 of Form 1040. How to fill out tax form 1040x   More information. How to fill out tax form 1040x   For information on methods of calculating SE tax, see Chapter 10, Self-Employment Tax. How to fill out tax form 1040x Table 1-2. How to fill out tax form 1040x Which Forms Must I File? IF you are liable for: THEN use Form: DUE by:1 Income tax 1040 and Schedule C or C-EZ2 15th day of 4th month after end of  tax year. How to fill out tax form 1040x Self-employment tax Schedule SE File with Form 1040. How to fill out tax form 1040x Estimated tax 1040-ES 15th day of 4th, 6th, and 9th months of tax year, and 15th day of 1st month after the end of tax year. How to fill out tax form 1040x Social security and Medicare taxes and income tax withholding 941 or 944 April 30, July 31, October 31, and January 313. How to fill out tax form 1040x     See Publication 15. How to fill out tax form 1040x Providing information on social security and Medicare taxes and income tax withholding W-2 (to employee)  W-2 and W-3 (to the Social Security Administration) January 313. How to fill out tax form 1040x   Last day of February (March 31 if filing electronically)3. How to fill out tax form 1040x Federal unemployment (FUTA) tax 940 January 313. How to fill out tax form 1040x     April 30, July 31, October 31, and January 31, but only if the liability for unpaid tax is more than $500. How to fill out tax form 1040x Filing information returns for payments to nonemployees and transactions with other persons See Information Returns Forms 1099 – to the recipient by January 31 and to the IRS by February 28 (March 31 if filing electronically). How to fill out tax form 1040x     Other forms – see the General Instructions for Certain Information Returns. How to fill out tax form 1040x Excise tax See Excise Taxes See the instructions to the forms. How to fill out tax form 1040x 1 If a due date falls on a Saturday, Sunday, or legal holiday, file by the next day that is not a Saturday, Sunday, or legal holiday. How to fill out tax form 1040x For more information, see Publication 509, Tax Calendars. How to fill out tax form 1040x 2 File a separate schedule for each business. How to fill out tax form 1040x 3 See the form instructions if you go out of business, change the form of your business, or stop paying wages. How to fill out tax form 1040x     Employment Taxes If you have employees, you will need to file forms to report employment taxes. How to fill out tax form 1040x Employment taxes include the following items. How to fill out tax form 1040x Social security and Medicare taxes. How to fill out tax form 1040x Federal income tax withholding. How to fill out tax form 1040x Federal unemployment (FUTA) tax. How to fill out tax form 1040x For more information, see Publication 15 (Circular E), Employer's Tax Guide. How to fill out tax form 1040x That publication explains your tax responsibilities as an employer. How to fill out tax form 1040x To help you determine whether the people working for you are your employees, see Publication 15-A, Employer's Supplemental Tax Guide. How to fill out tax form 1040x That publication has information to help you determine whether an individual is an independent contractor or an employee. How to fill out tax form 1040x If you incorrectly classify an employee as an independent contractor, you may be held liable for employment taxes for that worker plus a penalty. How to fill out tax form 1040x An independent contractor is someone who is self-employed. How to fill out tax form 1040x You do not generally have to withhold or pay any taxes on payments made to an independent contractor. How to fill out tax form 1040x Excise Taxes This section identifies some of the excise taxes you may have to pay and the forms you have to file if you do any of the following. How to fill out tax form 1040x Manufacture or sell certain products. How to fill out tax form 1040x Operate certain kinds of businesses. How to fill out tax form 1040x Use various kinds of equipment, facilities, or products. How to fill out tax form 1040x Receive payment for certain services. How to fill out tax form 1040x For more information on excise taxes, see Publication 510, Excise Taxes. How to fill out tax form 1040x Form 720. How to fill out tax form 1040x   The federal excise taxes reported on Form 720, Quarterly Federal Excise Tax Return, consist of several broad categories of taxes, including the following. How to fill out tax form 1040x Environmental taxes on the sale or use of ozone-depleting chemicals and imported products containing or manufactured with these chemicals. How to fill out tax form 1040x Communications and air transportation taxes. How to fill out tax form 1040x Fuel taxes. How to fill out tax form 1040x Tax on the first retail sale of heavy trucks, trailers, and tractors. How to fill out tax form 1040x Manufacturers taxes on the sale or use of a variety of different articles. How to fill out tax form 1040x Tax on indoor tanning services. How to fill out tax form 1040x Form 2290. How to fill out tax form 1040x   There is a federal excise tax on the use of certain trucks, truck tractors, and buses on public highways. How to fill out tax form 1040x The tax applies to vehicles having a taxable gross weight of 55,000 pounds or more. How to fill out tax form 1040x Report the tax on Form 2290, Heavy Highway Vehicle Use Tax Return. How to fill out tax form 1040x For more information, see the Instructions for Form 2290. How to fill out tax form 1040x Depositing excise taxes. How to fill out tax form 1040x   If you have to file a quarterly excise tax return on Form 720, you may have to deposit your excise taxes before the return is due. How to fill out tax form 1040x For details on depositing excise taxes, see the Instructions for Form 720. How to fill out tax form 1040x Information Returns If you make or receive payments in your business, you may have to report them to the IRS on information returns. How to fill out tax form 1040x The IRS compares the payments shown on the information returns with each person's income tax return to see if the payments were included in income. How to fill out tax form 1040x You must give a copy of each information return you are required to file to the recipient or payer. How to fill out tax form 1040x In addition to the forms described below, you may have to use other returns to report certain kinds of payments or transactions. How to fill out tax form 1040x For more details on information returns and when you have to file them, see the General Instructions for Certain Information Returns. How to fill out tax form 1040x Form 1099-MISC. How to fill out tax form 1040x   Use Form 1099-MISC, Miscellaneous Income, to report certain payments you make in your business. How to fill out tax form 1040x These payments include the following items. How to fill out tax form 1040x Payments of $600 or more for services performed for your business by people not treated as your employees, such as fees to subcontractors, attorneys, accountants, or directors. How to fill out tax form 1040x Rent payments of $600 or more, other than rents paid to real estate agents. How to fill out tax form 1040x Prizes and awards of $600 or more that are not for services, such as winnings on TV or radio shows. How to fill out tax form 1040x Royalty payments of $10 or more. How to fill out tax form 1040x Payments to certain crew members by operators of fishing boats. How to fill out tax form 1040x You also use Form 1099-MISC to report your sales of $5,000 or more of consumer goods to a person for resale anywhere other than in a permanent retail establishment. How to fill out tax form 1040x Form W-2. How to fill out tax form 1040x   You must file Form W-2, Wage and Tax Statement, to report payments to your employees, such as wages, tips, and other compensation, withheld income, social security, and Medicare taxes. How to fill out tax form 1040x You can file Form W-2 online. How to fill out tax form 1040x For more information about Form W-2, see the General Instructions for Forms W-2 and W-3. How to fill out tax form 1040x Penalties. How to fill out tax form 1040x   The law provides for the following penalties if you do not file Form 1099-MISC or Form W-2 or do not correctly report the information. How to fill out tax form 1040x For more information, see the General Instructions for Certain Information Returns. How to fill out tax form 1040x Failure to file information returns. How to fill out tax form 1040x This penalty applies if you do not file information returns by the due date, do not include all required information, or report incorrect information. How to fill out tax form 1040x Failure to furnish correct payee statements. How to fill out tax form 1040x This penalty applies if you do not furnish a required statement to a payee by the required date, do not include all required information, or report incorrect information. How to fill out tax form 1040x Waiver of penalties. How to fill out tax form 1040x   These penalties will not apply if you can show that the failure was due to reasonable cause and not willful neglect. How to fill out tax form 1040x   In addition, there is no penalty for failure to include all required information, or for including incorrect information, on a de minimis (small) number of information returns if you correct the errors by August 1 of the year the returns are due. How to fill out tax form 1040x (A de minimis number of returns is the greater of 10 or ½ of 1% of the total number of returns you are required to file for the year. How to fill out tax form 1040x ) Form 8300. How to fill out tax form 1040x   You must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, if you receive more than $10,000 in cash in one transaction, or two or more related business transactions. How to fill out tax form 1040x Cash includes U. How to fill out tax form 1040x S. How to fill out tax form 1040x and foreign coin and currency. How to fill out tax form 1040x It also includes certain monetary instruments such as cashier's and traveler's checks and money orders. How to fill out tax form 1040x Cash does not include a check drawn on an individual's personal account (personal check). How to fill out tax form 1040x For more information, see Publication 1544, Reporting Cash Payments of Over $10,000 (Received in a Trade or Business). How to fill out tax form 1040x Penalties. How to fill out tax form 1040x   There are civil and criminal penalties, including up to 5 years in prison, for not filing Form 8300, filing (or causing the filing of) a false or fraudulent Form 8300, or structuring a transaction to evade reporting requirements. How to fill out tax form 1040x Table 1-3. How to fill out tax form 1040x Going Out of Business Checklists (Note. How to fill out tax form 1040x The following checklists highlight the typical final forms and schedules you may need to file if you ever go out of business. How to fill out tax form 1040x For more information, see the instructions for the listed forms. How to fill out tax form 1040x ) IF you are liable for:   THEN you may need to: Income tax □ File Schedule C or C-EZ with your Form 1040 for the year in which you go out of business. How to fill out tax form 1040x   □ File Form 4797 with your Form 1040 for each year in which you sell or exchange property used in your business or in which the business use of certain section 179 or listed property drops to 50% or less. How to fill out tax form 1040x   □ File Form 8594 with your Form 1040 if you sold your business. How to fill out tax form 1040x Self-employment tax □ File Schedule SE with your Form 1040 for the year in which you go out of business. How to fill out tax form 1040x Employment taxes □ File Form 941 (or Form 944) for the calendar quarter in which you make final wage payments. How to fill out tax form 1040x Note. How to fill out tax form 1040x Do not forget to check the box and enter the date final wages were paid on line 15 of Form 941 or line 14 of Form 944. How to fill out tax form 1040x   □ File Form 940 for the calendar year in which final wages were paid. How to fill out tax form 1040x Note. How to fill out tax form 1040x Do not forget to check box d, Final: Business closed or stopped paying wages, under Type of Return. How to fill out tax form 1040x Information returns □ Provide Forms W-2 to your employees for the calendar year in which you make final wage payments. How to fill out tax form 1040x Note. How to fill out tax form 1040x These forms are generally due by the due date of your final Form 941 or Form 944. How to fill out tax form 1040x   □ File Form W-3 to file Forms W-2. How to fill out tax form 1040x Note. How to fill out tax form 1040x These forms are generally due within 1 month after the due date of your final Form 941 or Form 944. How to fill out tax form 1040x   □ Provide Forms 1099-MISC to each person to whom you have paid at least $600 for services (including parts and materials) during the calendar year in which you go out of business. How to fill out tax form 1040x   □ File Form 1096 to file Forms 1099-MISC. 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How to fill out tax form 1040x 4. How to fill out tax form 1040x   Underpayment Penalty for 2013 Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: General RuleFarmers and fishermen. How to fill out tax form 1040x Higher income taxpayers. How to fill out tax form 1040x Minimum required for higher income taxpayers. How to fill out tax form 1040x Estate or trust payments of estimated tax. How to fill out tax form 1040x Lowering or eliminating the penalty. How to fill out tax form 1040x ExceptionsLess Than $1,000 Due No Tax Liability Last Year Figuring Your Required Annual Payment (Part I) Short Method for Figuring the Penalty (Part III) Regular Method for Figuring the Penalty (Part IV)Figuring Your Underpayment (Part IV, Section A) Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Annualized Income Installment Method (Schedule AI) Farmers and Fishermen Waiver of PenaltyFarmers and fishermen. How to fill out tax form 1040x Introduction If you did not pay enough tax, either through withholding or by making timely estimated tax payments, you will have underpaid your estimated tax and may have to pay a penalty. How to fill out tax form 1040x You may understand this chapter better if you can refer to a copy of your latest federal income tax return. How to fill out tax form 1040x No penalty. How to fill out tax form 1040x   Generally, you will not have to pay a penalty for 2013 if any of the following apply. How to fill out tax form 1040x The total of your withholding and timely estimated tax payments was at least as much as your 2012 tax. How to fill out tax form 1040x (See Special rules for certain individuals for higher income taxpayers and farmers and fishermen. How to fill out tax form 1040x ) The tax balance due on your 2013 return is no more than 10% of your total 2013 tax, and you paid all required estimated tax payments on time. How to fill out tax form 1040x Your total tax for 2013 (defined later) minus your withholding is less than $1,000. How to fill out tax form 1040x You did not have a tax liability for 2012. How to fill out tax form 1040x You did not have any withholding taxes and your current year tax (less any household employment taxes) is less than $1,000. How to fill out tax form 1040x IRS can figure the penalty for you. How to fill out tax form 1040x   If you think you owe the penalty, but you do not want to figure it yourself when you file your tax return, you may not have to. How to fill out tax form 1040x Generally, the IRS will figure the penalty for you and send you a bill. How to fill out tax form 1040x   You only need to figure your penalty in the following three situations. How to fill out tax form 1040x You are requesting a waiver of part, but not all, of the penalty. How to fill out tax form 1040x You are using the annualized income installment method to figure the penalty. How to fill out tax form 1040x You are treating the federal income tax withheld from your income as paid on the dates actually withheld. How to fill out tax form 1040x However, if these situations do not apply to you, and you think you can lower or eliminate your penalty, complete Form 2210 or Form 2210-F and attach it to your return. How to fill out tax form 1040x See Form 2210 , later. How to fill out tax form 1040x Topics - This chapter discusses: The general rule for the underpayment penalty, Special rules for certain individuals, Exceptions to the underpayment penalty, How to figure your underpayment and the amount of your penalty on Form 2210, and How to ask the IRS to waive the penalty. How to fill out tax form 1040x Useful Items - You may want to see: Form (and Instructions) 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2210-F Underpayment of Estimated Tax by Farmers and Fishermen See chapter 5 for information about getting these forms. How to fill out tax form 1040x General Rule In general, you may owe a penalty for 2013 if the total of your withholding and timely estimated tax payments did not equal at least the smaller of: 90% of your 2013 tax, or 100% of your 2012 tax. How to fill out tax form 1040x (Your 2012 tax return must cover a 12-month period. How to fill out tax form 1040x ) Your 2013 tax, for this purpose, is defined under Total tax for 2013 , later. How to fill out tax form 1040x Special rules for certain individuals. How to fill out tax form 1040x   There are special rules for farmers and fishermen and certain higher income taxpayers. How to fill out tax form 1040x Farmers and fishermen. How to fill out tax form 1040x   If at least two-thirds of your gross income for 2012 or 2013 is from farming or fishing, substitute  662/3% for 90% in (1) above. How to fill out tax form 1040x   See Farmers and Fishermen , later. How to fill out tax form 1040x Higher income taxpayers. How to fill out tax form 1040x   If your AGI for 2012 was more than $150,000 ($75,000 if your 2013 filing status is married filing a separate return), substitute 110% for 100% in (2) under General Rule . How to fill out tax form 1040x This rule does not apply to farmers or fishermen. How to fill out tax form 1040x   For 2012, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. How to fill out tax form 1040x Penalty figured separately for each period. How to fill out tax form 1040x   Because the penalty is figured separately for each payment period, you may owe a penalty for an earlier payment period even if you later paid enough to make up the underpayment. How to fill out tax form 1040x This is true even if you are due a refund when you file your income tax return. How to fill out tax form 1040x Example. How to fill out tax form 1040x You did not make estimated tax payments for 2013 because you thought you had enough tax withheld from your wages. How to fill out tax form 1040x Early in January 2014, you made an estimate of your total 2013 tax. How to fill out tax form 1040x Then you realized that your withholding was $2,000 less than the amount needed to avoid a penalty for underpayment of estimated tax. How to fill out tax form 1040x On January 10, you made an estimated tax payment of $3,000, which is the difference between your withholding and your estimate of your total tax. How to fill out tax form 1040x Your final return shows your total tax to be $50 less than your estimate, so you are due a refund. How to fill out tax form 1040x You do not owe a penalty for your payment due January 15, 2014. How to fill out tax form 1040x However, you may owe a penalty through January 10, 2014, the day you made the $3,000 payment, for your underpayments for the earlier payment periods. How to fill out tax form 1040x Minimum required each period. How to fill out tax form 1040x   You will owe a penalty for any 2013 payment period for which your estimated tax payment plus your withholding for the period and overpayments applied from previous periods was less than the smaller of: 22. How to fill out tax form 1040x 5% of your 2013 tax, or 25% of your 2012 tax. How to fill out tax form 1040x (Your 2012 tax return must cover a 12-month period. How to fill out tax form 1040x ) Minimum required for higher income taxpayers. How to fill out tax form 1040x   If you are subject to the rule for higher income taxpayers, discussed above, substitute 27. How to fill out tax form 1040x 5% for 25% in (2) under General Rule . How to fill out tax form 1040x When penalty is charged. How to fill out tax form 1040x   If you miss a payment or you paid less than the minimum required in a period, you may be charged an underpayment penalty from the date the amount was due to the date the payment is made. How to fill out tax form 1040x If a payment is mailed, the date of the U. How to fill out tax form 1040x S. How to fill out tax form 1040x postmark is considered the date of payment. How to fill out tax form 1040x   If a payment is made electronically, the date the payment is shown on your payment account (checking, savings, etc. How to fill out tax form 1040x ) is considered to be the date of payment. How to fill out tax form 1040x Estate or trust payments of estimated tax. How to fill out tax form 1040x   If you have estimated taxes credited to you from an estate or trust (Schedule K-1 (Form 1041)), treat the payment as made by you on January 15, 2014. How to fill out tax form 1040x Amended returns. How to fill out tax form 1040x    If you file an amended return by the due date of your original return, use the tax shown on your amended return to figure your required estimated tax payments. How to fill out tax form 1040x If you file an amended return after the due date of the original return, use the tax shown on the original return. How to fill out tax form 1040x   However, if you and your spouse file a joint return after the due date to replace separate returns you originally filed by the due date, use the tax shown on the joint return to figure your required estimated tax payments. How to fill out tax form 1040x This rule applies only if both original separate returns were filed on time. How to fill out tax form 1040x 2012 separate returns and 2013 joint return. How to fill out tax form 1040x    If you file a joint return with your spouse for 2013, but you filed separate returns for 2012, your 2012 tax is the total of the tax shown on your separate returns. How to fill out tax form 1040x You filed a separate return if you filed as single, head of household, or married filing separately. How to fill out tax form 1040x 2012 joint return and 2013 separate returns. How to fill out tax form 1040x    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, your 2012 tax is your share of the tax on the joint return. How to fill out tax form 1040x You are filing a separate return if you file as single, head of household, or married filing separately. How to fill out tax form 1040x   To figure your share of the taxes on a joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2012 using the same filing status as for 2013. How to fill out tax form 1040x Then multiply the tax on the joint return by the following fraction. How to fill out tax form 1040x   The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. How to fill out tax form 1040x Lisa and Paul filed a joint return for 2012 showing taxable income of $49,000 and a tax of $6,484. How to fill out tax form 1040x Of the $49,000 taxable income, $41,000 was Lisa's and the rest was Paul's. How to fill out tax form 1040x For 2013, they file married filing separately. How to fill out tax form 1040x Lisa figures her share of the tax on the 2012 joint return as follows. How to fill out tax form 1040x 2012 tax on $41,000 based on a separate return $ 6,286 2012 tax on $8,000 based on a  separate return 803 Total $ 7,089 Lisa's percentage of total tax  ($6,286 ÷ $ 7,089) 88. How to fill out tax form 1040x 67% Lisa's part of tax on joint return ($6,484 × 88. How to fill out tax form 1040x 67%) $ 5,749 Form 2210. How to fill out tax form 1040x   In most cases, you do not need to file Form 2210. How to fill out tax form 1040x The IRS will figure the penalty for you and send you a bill. How to fill out tax form 1040x If you want us to figure the penalty for you, leave the penalty line on your return blank. How to fill out tax form 1040x Do not file Form 2210. How to fill out tax form 1040x   To determine if you should file Form 2210, see Part II of Form 2210. How to fill out tax form 1040x If you decide to figure your penalty, complete Part I, Part II, and either Part III or Part IV of the form and the Penalty Worksheet in the Instructions for Form 2210. How to fill out tax form 1040x If you use Form 2210, you cannot file Form 1040EZ. How to fill out tax form 1040x   On Form 1040, enter the amount of your penalty on line 77. How to fill out tax form 1040x If you owe tax on line 76, add the penalty to your tax due and show your total payment on line 76. How to fill out tax form 1040x If you are due a refund, subtract the penalty from the overpayment and enter the result on line 73. How to fill out tax form 1040x   On Form 1040A, enter the amount of your penalty on line 46. How to fill out tax form 1040x If you owe tax on line 45, add the penalty to your tax due and show your total payment on line 45. How to fill out tax form 1040x If you are due a refund, subtract the penalty from the overpayment and enter the result on line 42. How to fill out tax form 1040x Lowering or eliminating the penalty. How to fill out tax form 1040x    You may be able to lower or eliminate your penalty if you file Form 2210. How to fill out tax form 1040x You must file Form 2210 with your return if any of the following applies. How to fill out tax form 1040x You request a waiver. How to fill out tax form 1040x See Waiver of Penalty , later. How to fill out tax form 1040x You use the annualized income installment method. How to fill out tax form 1040x See the explanation of this method under Annualized Income Installment Method (Schedule AI) . How to fill out tax form 1040x You use your actual withholding for each payment period for estimated tax purposes. How to fill out tax form 1040x See Actual withholding method under Figuring Your Underpayment (Part IV, Section A). How to fill out tax form 1040x You base any of your required installments on the tax shown on your 2012 return and you filed or are filing a joint return for either 2012 or 2013, but not for both years. How to fill out tax form 1040x Exceptions Generally, you do not have to pay an underpayment penalty if either: Your total tax is less than $1,000, or You had no tax liability last year. How to fill out tax form 1040x Less Than $1,000 Due You do not owe a penalty if the total tax shown on your return minus the amount you paid through withholding (including excess social security and tier 1 railroad retirement (RRTA) tax withholding) is less than $1,000. How to fill out tax form 1040x Total tax for 2013. How to fill out tax form 1040x   For 2013, your total tax on Form 1040 is the amount on line 61 reduced by the following. How to fill out tax form 1040x    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). How to fill out tax form 1040x Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. How to fill out tax form 1040x The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. How to fill out tax form 1040x Any refundable credit amounts listed on lines 64a, 65, 66, 70, and any credit from Form 8885 included on line 71. How to fill out tax form 1040x   If you filed Form 1040A, your 2013 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. How to fill out tax form 1040x   If you filed Form 1040EZ, your 2013 total tax is the amount on line 10 reduced by the amount on line 8a. How to fill out tax form 1040x Note. How to fill out tax form 1040x When figuring the amount on line 60, include household employment taxes only if you had federal income tax withheld from your income or you would owe the penalty even if you did not include those taxes. How to fill out tax form 1040x Paid through withholding. How to fill out tax form 1040x    For 2013, the amount you paid through withholding on Form 1040 is the amount on line 62 plus any excess social security or tier 1 RRTA tax withholding on line 69. How to fill out tax form 1040x Add to that any write-in amount on line 72 identified as “Form 8689. How to fill out tax form 1040x ” On Form 1040A, the amount you paid through withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included on line 41. How to fill out tax form 1040x On Form 1040EZ, it is the amount on line 7. How to fill out tax form 1040x No Tax Liability Last Year You do not owe a penalty if you had no tax liability last year and you were a U. How to fill out tax form 1040x S. How to fill out tax form 1040x citizen or resident for the whole year. How to fill out tax form 1040x For this rule to apply, your tax year must have included all 12 months of the year. How to fill out tax form 1040x You had no tax liability for 2012 if your total tax was zero or you were not required to file an income tax return. How to fill out tax form 1040x Example. How to fill out tax form 1040x Ray, who is single and 22 years old, was unemployed for a few months during 2012. How to fill out tax form 1040x He earned $6,700 in wages before he was laid off, and he received $1,400 in unemployment compensation afterwards. How to fill out tax form 1040x He had no other income. How to fill out tax form 1040x Even though he had gross income of $8,100, he did not have to pay income tax because his gross income was less than the filing requirement for a single person under age 65 ($9,750 for 2012). How to fill out tax form 1040x He filed a return only to have his withheld income tax refunded to him. How to fill out tax form 1040x In 2013, Ray began regular work as an independent contractor. How to fill out tax form 1040x Ray made no estimated tax payments in 2013. How to fill out tax form 1040x Even though he did owe tax at the end of the year, Ray does not owe the underpayment penalty for 2013 because he had no tax liability in 2012. How to fill out tax form 1040x Total tax for 2012. How to fill out tax form 1040x   For 2012, your total tax on Form 1040 is the amount on line 61 reduced by the following. How to fill out tax form 1040x    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). How to fill out tax form 1040x Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. How to fill out tax form 1040x The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. How to fill out tax form 1040x Any refundable credit amounts listed on lines 64a, 65, 66, 70, and credits from Forms 8801 (line 27 only), and 8885 included on line 71. How to fill out tax form 1040x   If you filed Form 1040A, your 2012 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. How to fill out tax form 1040x   If you filed Form 1040EZ, your 2012 total tax is the amount on line 11 reduced by the amount on line 8a. How to fill out tax form 1040x Figuring Your Required Annual Payment (Part I) Figure your required annual payment in Part I of Form 2210, following the line-by-line instructions. How to fill out tax form 1040x If you rounded the entries on your tax return to whole dollars, you can round on Form 2210. How to fill out tax form 1040x Example. How to fill out tax form 1040x The tax on Lori Lane's 2012 return was $12,400. How to fill out tax form 1040x Her AGI was not more than $150,000 for either 2012 or 2013. How to fill out tax form 1040x The tax on her 2013 return (Form 1040, line 55) is $13,044. How to fill out tax form 1040x Line 56 (self-employment tax) is $8,902. How to fill out tax form 1040x Her 2013 total tax is $21,946. How to fill out tax form 1040x For 2013, Lori had $1,600 income tax withheld and made four equal estimated tax payments ($1,000 each). How to fill out tax form 1040x 90% of her 2013 tax is $19,751. How to fill out tax form 1040x Because she paid less than her 2012 tax ($12,400) and less than 90% of her 2013 tax ($19,751), and does not meet an exception, Lori knows that she owes a penalty for underpayment of estimated tax. How to fill out tax form 1040x The IRS will figure the penalty for Lori, but she decides to figure it herself on Form 2210 and pay it with her taxes when she files her tax return. How to fill out tax form 1040x Lori's required annual payment is $12,400 (100% of 2012 tax) because that is smaller than 90% of her 2013 tax. How to fill out tax form 1040x Different 2012 filing status. How to fill out tax form 1040x    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, see 2012 joint return and 2013 separate returns , earlier, to figure the amount to enter as your 2012 tax on line 8 of Form 2210. How to fill out tax form 1040x Short Method for Figuring the Penalty (Part III) You may be able to use the short method in Part III of Form 2210 to figure your penalty for underpayment of estimated tax. How to fill out tax form 1040x If you qualify to use this method, it will result in the same penalty amount as the regular method. How to fill out tax form 1040x However, either the annualized income installment method or the actual withholding method, explained later, may result in a smaller penalty. How to fill out tax form 1040x You can use the short method only if you meet one of the following requirements. How to fill out tax form 1040x You made no estimated tax payments for 2013 (it does not matter whether you had income tax withholding). How to fill out tax form 1040x You paid the same amount of estimated tax on each of the four payment due dates. How to fill out tax form 1040x If you do not meet either requirement, figure your penalty using the regular method in Part IV of Form 2210 and the Penalty Worksheet in the instructions. How to fill out tax form 1040x Note. How to fill out tax form 1040x If any payment was made before the due date, you can use the short method, but the penalty may be less if you use the regular method. How to fill out tax form 1040x However, if the payment was only a few days early, the difference is likely to be small. How to fill out tax form 1040x You cannot use the short method if any of the following apply. How to fill out tax form 1040x You made any estimated tax payments late. How to fill out tax form 1040x You checked box C or D in Part II of Form 2210. How to fill out tax form 1040x You are filing Form 1040NR or 1040NR-EZ and you did not receive wages as an employee subject to U. How to fill out tax form 1040x S. How to fill out tax form 1040x income tax withholding. How to fill out tax form 1040x If you use the short method, you cannot use the annualized income installment method to figure your underpayment for each payment period. How to fill out tax form 1040x Also, you cannot use your actual withholding during each period to figure your payments for each period. How to fill out tax form 1040x These methods, which may give you a smaller penalty amount, are explained under Figuring Your Underpayment (Part IV, Section A). How to fill out tax form 1040x Complete Part III of Form 2210 following the line-by-line instructions in the Instructions for Form 2210. How to fill out tax form 1040x Regular Method for Figuring the Penalty (Part IV) You can use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if you paid one or more estimated tax payments earlier than the due date. How to fill out tax form 1040x You must use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if any of the following apply to you. How to fill out tax form 1040x You paid one or more estimated tax payments on a date after the due date. How to fill out tax form 1040x You paid at least one, but less than four, installments of estimated tax. How to fill out tax form 1040x You paid estimated tax payments in un- equal amounts. How to fill out tax form 1040x You use the annualized income installment method to figure your underpayment for each payment period. How to fill out tax form 1040x You use your actual withholding during each payment period to figure your payments. How to fill out tax form 1040x Under the regular method, figure your underpayment for each payment period in Section A, then figure your penalty using the Penalty Worksheet in the Instructions for Form 2210. How to fill out tax form 1040x Enter the results on line 27 of Section B. How to fill out tax form 1040x Figuring Your Underpayment (Part IV, Section A) Figure your underpayment of estimated tax for each payment period in Section A following the line-by-line instructions in the Instructions for Form 2210. How to fill out tax form 1040x Complete lines 20 through 26 of the first column before going to line 20 of the next column. How to fill out tax form 1040x Required installments—line 18. How to fill out tax form 1040x   Your required payment for each payment period (line 18) is usually one-fourth of your required annual payment (Part I, line 9). How to fill out tax form 1040x This method—the regular method—is the one to use if you received your income evenly throughout the year. How to fill out tax form 1040x   However, if you did not receive your income evenly throughout the year, you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. How to fill out tax form 1040x First complete Schedule AI (Form 2210), then enter the amounts from line 25 of that schedule on line 18 of Form 2210, Part IV. How to fill out tax form 1040x See Annualized Income Installment Method (Schedule AI), later. How to fill out tax form 1040x Payments made—line 19. How to fill out tax form 1040x   Enter in each column the total of: Your estimated tax paid after the due date for the previous column and by the due date shown at the top of the column, and One-fourth of your withholding. How to fill out tax form 1040x For special rules for figuring your payments, see Form 2210 instructions for line 19. How to fill out tax form 1040x   If you file Form 1040, your withholding is the amount on line 62, plus any excess social security or tier 1 RRTA tax withholding on line 69. How to fill out tax form 1040x If you file Form 1040A, your withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included in line 41. How to fill out tax form 1040x Actual withholding method. How to fill out tax form 1040x    Instead of using one-fourth of your withholding for each quarter, you can choose to use the amounts actually withheld by each due date. How to fill out tax form 1040x You can make this choice separately for the tax withheld from your wages and for all other withholding. How to fill out tax form 1040x This includes any excess social security and tier 1 RRTA tax withheld. How to fill out tax form 1040x   Using your actual withholding may result in a smaller penalty if most of your withholding occurred early in the year. How to fill out tax form 1040x   If you use your actual withholding, you must check box D in Form 2210, Part II. How to fill out tax form 1040x Then complete Form 2210 using the regular method (Part IV) and file it with your return. How to fill out tax form 1040x Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Figure the amount of your penalty for Section B using the Penalty Worksheet in the Form 2210 instructions. How to fill out tax form 1040x The penalty is imposed on each underpayment amount shown on Form 2210, Section A, line 25, for the number of days that it remained unpaid. How to fill out tax form 1040x For 2013, there are four rate periods—April 16 through June 30, July 1 through September 30, October 1 through December 31, and January 1, 2014 through April 15, 2014. How to fill out tax form 1040x A 3% rate applies to all four periods. How to fill out tax form 1040x Payments. How to fill out tax form 1040x    Before completing the Penalty Worksheet, it may be helpful to make a list of the payments you made and income tax withheld after the due date (or the last day payments could be made on time) for the earliest payment period an underpayment occurred. How to fill out tax form 1040x For example, if you had an underpayment for the first payment period, list your payments after April 15, 2013. How to fill out tax form 1040x You can use the table in the Form 2210 instructions to make your list. How to fill out tax form 1040x Follow those instructions for listing income tax withheld and payments made with your return. How to fill out tax form 1040x Use the list to determine when each underpayment was paid. How to fill out tax form 1040x   If you mail your estimated tax payments, use the date of the U. How to fill out tax form 1040x S. How to fill out tax form 1040x postmark as the date of payment. How to fill out tax form 1040x Line 1b. How to fill out tax form 1040x   Apply the payments listed to underpayment balance in the first column until it is fully paid. How to fill out tax form 1040x Apply payments in the order made. How to fill out tax form 1040x Figuring the penalty. How to fill out tax form 1040x   If an underpayment was paid in two or more payments on different dates, you must figure the penalty separately for each payment. How to fill out tax form 1040x On line 3 of the Penalty Worksheet enter the number of days between the due date (line 2) and the date of each payment on line 1b. How to fill out tax form 1040x On line 4 figure the penalty for the amount of each payment applied on line 1b or the amount remaining unpaid. How to fill out tax form 1040x If no payments are applied, figure the penalty on the amount on line 1a. How to fill out tax form 1040x Aid for counting days. How to fill out tax form 1040x    Table 4-1 provides a simple method for counting the number of days between a due date and a payment date. How to fill out tax form 1040x Find the number for the date the payment was due by going across to the column of the month the payment was due and moving down the column to the due date. How to fill out tax form 1040x In the same manner, find the number for the date the payment was made. How to fill out tax form 1040x Subtract the due date “number” from the payment date “number. How to fill out tax form 1040x ”   For example, if a payment was due on June 15 (61), but was not paid until September 1 (139), the payment was 78 (139 – 61) days late. How to fill out tax form 1040x Table 4-1. How to fill out tax form 1040x Calendar To Determine the Number of Days a Payment Is Late Instructions. How to fill out tax form 1040x Use this table with Form 2210 if you are completing Part IV, Section B. How to fill out tax form 1040x First, find the number for the payment due date by going across to the column of the month the payment was due and moving down the column to the due date. How to fill out tax form 1040x Then, in the same manner, find the number for the date the payment was made. How to fill out tax form 1040x Finally, subtract the due date number from the payment date number. How to fill out tax form 1040x The result is the number of days the payment is late. How to fill out tax form 1040x Example. How to fill out tax form 1040x The payment due date is June 15 (61). How to fill out tax form 1040x The payment was made on November 4 (203). How to fill out tax form 1040x The payment is 142 days late (203 – 61). How to fill out tax form 1040x Tax Year 2013 Day of 2013 2013 2013 2013 2013 2013 2013 2013 2013 2014 2014 2014 2014 Month April May June July Aug. How to fill out tax form 1040x Sept. How to fill out tax form 1040x Oct. How to fill out tax form 1040x Nov. How to fill out tax form 1040x Dec. How to fill out tax form 1040x Jan. How to fill out tax form 1040x Feb. How to fill out tax form 1040x Mar. How to fill out tax form 1040x Apr. How to fill out tax form 1040x 1   16 47 77 108 139 169 200 230 261 292 320 351 2   17 48 78 109 140 170 201 231 262 293 321 352 3   18 49 79 110 141 171 202 232 263 294 322 353 4   19 50 80 111 142 172 203 233 264 295 323 354 5   20 51 81 112 143 173 204 234 265 296 324 355 6   21 52 82 113 144 174 205 235 266 297 325 356 7   22 53 83 114 145 175 206 236 267 298 326 357 8   23 54 84 115 146 176 207 237 268 299 327 358 9   24 55 85 116 147 177 208 238 269 300 328 359 10   25 56 86 117 148 178 209 239 270 301 329 360 11   26 57 87 118 149 179 210 240 271 302 330 361 12   27 58 88 119 150 180 211 241 272 303 331 362 13   28 59 89 120 151 181 212 242 273 304 332 363 14   29 60 90 121 152 182 213 243 274 305 333 364 15 0 30 61 91 122 153 183 214 244 275 306 334 365 16 1 31 62 92 123 154 184 215 245 276 307 335   17 2 32 63 93 124 155 185 216 246 277 308 336   18 3 33 64 94 125 156 186 217 247 278 309 337   19 4 34 65 95 126 157 187 218 248 279 310 338   20 5 35 66 96 127 158 188 219 249 280 311 339   21 6 36 67 97 128 159 189 220 250 281 312 340   22 7 37 68 98 129 160 190 221 251 282 313 341   23 8 38 69 99 130 161 191 222 252 283 314 342   24 9 39 70 100 131 162 192 223 253 284 315 343   25 10 40 71 101 132 163 193 224 254 285 316 344   26 11 41 72 102 133 164 194 225 255 286 317 345   27 12 42 73 103 134 165 195 226 256 287 318 346   28 13 43 74 104 135 166 196 227 257 288 319 347   29 14 44 75 105 136 167 197 228 258 289   348   30 15 45 76 106 137 168 198 229 259 290   349   31   46   107 138   199   260 291   350   Annualized Income Installment Method (Schedule AI) If you did not receive your income evenly throughout the year (for example, your income from a shop you operated at a marina was much larger in the summer than it was during the rest of the year), you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. How to fill out tax form 1040x Under this method, your required installment (Part IV, line 18) for one or more payment periods may be less than one-fourth of your required annual payment. How to fill out tax form 1040x To figure your underpayment using this method, complete Form 2210, Schedule AI. How to fill out tax form 1040x Schedule AI annualizes your tax at the end of each payment period based on your income, deductions, and other items relating to events that occurred from the beginning of the tax year through the end of the period. How to fill out tax form 1040x If you use the annualized income installment method, you must check box C in Part II of Form 2210. How to fill out tax form 1040x Also, you must attach Form 2210 and Schedule AI to your return. How to fill out tax form 1040x If you use Schedule AI for any payment due date, you must use it for all payment due dates. How to fill out tax form 1040x Completing Schedule AI. How to fill out tax form 1040x   Follow the Form 2210 instructions to complete Schedule AI. How to fill out tax form 1040x For each period shown on Schedule AI, figure your income and deductions based on your method of accounting. How to fill out tax form 1040x If you use the cash method of accounting (used by most people), include all income actually or constructively received during the period and all deductions actually paid during the period. How to fill out tax form 1040x Note. How to fill out tax form 1040x Each period includes amounts from the previous period(s). How to fill out tax form 1040x Period (a) includes items for January 1 through March 31. How to fill out tax form 1040x Period (b) includes items for January 1 through May 31. How to fill out tax form 1040x Period (c) includes items for January 1 through August 31. How to fill out tax form 1040x Period (d) includes items for the entire year. How to fill out tax form 1040x Farmers and Fishermen If you are a farmer or fisherman, the following special rules for underpayment of estimated tax apply to you. How to fill out tax form 1040x The penalty for underpaying your 2013 estimated tax will not apply if you file your return and pay all the tax due by March 3, 2014. How to fill out tax form 1040x If you are a fiscal year taxpayer, the penalty will not apply if you file your return and pay the tax due by the first day of the third month after the end of your tax year. How to fill out tax form 1040x Any penalty you owe for underpaying your 2013 estimated tax will be figured from one payment due date, January 15, 2014. How to fill out tax form 1040x The underpayment penalty for 2013 is figured on the difference between the amount of 2013 withholding plus estimated tax paid by the due date and the smaller of: 662/3% (rather than 90%) of your 2013 tax, or 100% of the tax shown on your 2012 return. How to fill out tax form 1040x Even if these special rules apply to you, you will not owe the penalty if you meet either of the two conditions discussed under Exceptions . How to fill out tax form 1040x See Who Must Pay Estimated Tax in chapter 2 for the definition of a farmer or fisherman who is eligible for these special rules. How to fill out tax form 1040x Form 2210-F. How to fill out tax form 1040x   Use Form 2210-F to figure any underpayment penalty. How to fill out tax form 1040x Do not attach it to your return unless you check a box in Part I. How to fill out tax form 1040x However, if none of the boxes apply to you and you owe a penalty, you do not need to attach Form 2210-F. How to fill out tax form 1040x Enter the amount from line 16 on Form 1040, line 77 and add the penalty to any balance due on your return or subtract it from your refund. How to fill out tax form 1040x Keep your filled-in Form 2210-F for your records. How to fill out tax form 1040x    If none of the boxes on Form 2210-F apply to you and you owe a penalty, the IRS can figure your penalty and send you a bill. How to fill out tax form 1040x Waiver of Penalty The IRS can waive the penalty for underpayment if either of the following applies. How to fill out tax form 1040x You did not make a payment because of a casualty, disaster, or other unusual circumstance and it would be inequitable to impose the penalty. How to fill out tax form 1040x You retired (after reaching age 62) or became disabled in 2012 or 2013 and both the following requirements are met. How to fill out tax form 1040x You had a reasonable cause for not making the payment. How to fill out tax form 1040x Your underpayment was not due to willful neglect. How to fill out tax form 1040x How to request a waiver. How to fill out tax form 1040x   To request a waiver, see the Instructions for Form 2210. How to fill out tax form 1040x Farmers and fishermen. How to fill out tax form 1040x   To request a waiver, see the Instructions for Form 2210-F. How to fill out tax form 1040x Federally declared disaster. How to fill out tax form 1040x   Certain estimated tax payment deadlines for taxpayers who reside or have a business in a federally declared disaster area are postponed for a period during and after the disaster. How to fill out tax form 1040x During the processing of your tax return, the IRS automatically identifies taxpayers located in a covered disaster area (by county or parish) and applies the appropriate penalty relief. How to fill out tax form 1040x Do not file Form 2210 or 2210-F if your underpayment was due to a federally declared disaster. How to fill out tax form 1040x If you still owe a penalty after the automatic waiver is applied, we will send you a bill. How to fill out tax form 1040x   Individuals, estates, and trusts not in a covered disaster area but whose books, records, or tax professionals' offices are in a covered area are also entitled to relief. How to fill out tax form 1040x Also eligible are relief workers affiliated with a recognized government or charitable organization assisting in the relief activities in a covered disaster area. How to fill out tax form 1040x If you meet either of these eligibility requirements, you must call the IRS disaster hotline at 1-866-562-5227 and identify yourself as eligible for this relief. How to fill out tax form 1040x   Details on the applicable disaster postponement period can be found at IRS. How to fill out tax form 1040x gov. How to fill out tax form 1040x Enter Tax Relief in Disaster Situations. How to fill out tax form 1040x Select the federally declared disaster that affected you. How to fill out tax form 1040x    Worksheet 4-1. How to fill out tax form 1040x 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Note. How to fill out tax form 1040x To figure the annualized entries for lines 2, 3, and 5 below, multiply the expected amount for the period by the  annualization amount on line 2 of Schedule AI for the same period. How to fill out tax form 1040x                   1. How to fill out tax form 1040x Enter line 11 of your Schedule AI, or line 3 from Worksheet 4-2 1. How to fill out tax form 1040x       2. How to fill out tax form 1040x Enter your annualized qualified dividends for the period 2. How to fill out tax form 1040x           3. How to fill out tax form 1040x Are you filing Schedule D?               □ Yes. How to fill out tax form 1040x Enter the smaller of your annualized amount from line 15 or line 16 of Schedule D. How to fill out tax form 1040x If either line 15 or line 16 is blank or a loss, enter -0-. How to fill out tax form 1040x 3. How to fill out tax form 1040x             □ No. How to fill out tax form 1040x Enter your annualized capital gain distributions from Form 1040, line 13             4. How to fill out tax form 1040x Add lines 2 and 3   4. How to fill out tax form 1040x           5. How to fill out tax form 1040x If you are claiming investment interest expense on Form 4952, enter your annualized amount from line 4g of that form. How to fill out tax form 1040x Otherwise, enter -0-   5. How to fill out tax form 1040x           6. How to fill out tax form 1040x Subtract line 5 from line 4. How to fill out tax form 1040x If zero or less, enter -0- 6. How to fill out tax form 1040x       7. How to fill out tax form 1040x Subtract line 6 from line 1. How to fill out tax form 1040x If zero or less, enter -0- 7. How to fill out tax form 1040x       8. How to fill out tax form 1040x Enter: $36,900 if single or married filing separately, $73,800 if married filing jointly or qualifying widow(er), $49,400 if head of household. How to fill out tax form 1040x 8. How to fill out tax form 1040x       9. How to fill out tax form 1040x Enter the smaller of line 1 or line 8 9. How to fill out tax form 1040x       10. How to fill out tax form 1040x Enter the smaller of line 7 or line 9 10. How to fill out tax form 1040x       11. How to fill out tax form 1040x Subtract line 10 from line 9. How to fill out tax form 1040x This amount is taxed at 0% 11. How to fill out tax form 1040x       12. How to fill out tax form 1040x Enter the smaller of line 1 or line 6 12. How to fill out tax form 1040x       13. How to fill out tax form 1040x Enter the amount from line 11 13. How to fill out tax form 1040x       14. How to fill out tax form 1040x Subtract line 13 from line 12 14. How to fill out tax form 1040x       15. How to fill out tax form 1040x Multiply line 14 by 15% (. How to fill out tax form 1040x 15) 15. How to fill out tax form 1040x   16. How to fill out tax form 1040x Figure the tax on the amount on line 7. How to fill out tax form 1040x If the amount on line 7 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. How to fill out tax form 1040x If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 16. How to fill out tax form 1040x   17. How to fill out tax form 1040x Add lines 15 and 16 17. How to fill out tax form 1040x   18. How to fill out tax form 1040x Figure the tax on the amount on line 1. How to fill out tax form 1040x If the amount on line 1 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. How to fill out tax form 1040x If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 18. How to fill out tax form 1040x   19. How to fill out tax form 1040x Tax on all taxable income. How to fill out tax form 1040x Enter the smaller of line 17 or line 18. How to fill out tax form 1040x Also enter this amount on line 12 of Schedule AI in the appropriate column. How to fill out tax form 1040x However, if you are using this worksheet to figure the tax on the amount on line 3 of Worksheet 4-2, enter the amount from line 19 on Worksheet 4-2, line 4 19. How to fill out tax form 1040x   Worksheet 4-2. How to fill out tax form 1040x 2013 Form 2210, Schedule AI—Line 12 Foreign Earned Income Tax Worksheet Before you begin:If Schedule AI, line 11, is zero for the period, do not complete this worksheet. How to fill out tax form 1040x             1. How to fill out tax form 1040x Enter the amount from line 11 of Schedule AI for the period 1. How to fill out tax form 1040x   2. How to fill out tax form 1040x Enter the annualized amount* of foreign earned income and housing amount excluded or deducted (from  Form 2555, lines 45 and 50, or Form 2555-EZ, line 18) in figuring the amount entered for the period on line 1  of Schedule AI 2. How to fill out tax form 1040x   3. How to fill out tax form 1040x Add lines 1 and 2 3. How to fill out tax form 1040x   4. How to fill out tax form 1040x Tax on the amount on line 3. How to fill out tax form 1040x Use the Tax Table, Tax Computation Worksheet, Form 8615**, Qualified Dividends and Capital Gain Tax Worksheet***, or Schedule D Tax Worksheet***, whichever applies. How to fill out tax form 1040x See the 2013 Instructions for Form 1040, line 44, to find out which tax computation method to use. How to fill out tax form 1040x (Note. How to fill out tax form 1040x You do not have to use the same method for each period on Schedule AI. How to fill out tax form 1040x ) 4. How to fill out tax form 1040x   5. How to fill out tax form 1040x Tax on the amount on line 2. How to fill out tax form 1040x If the amount on line 2 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. How to fill out tax form 1040x If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 5. How to fill out tax form 1040x   6. How to fill out tax form 1040x Subtract line 5 from line 4. How to fill out tax form 1040x Enter the result here and on line 12 of Schedule AI. How to fill out tax form 1040x If zero or less,  enter -0- 6. How to fill out tax form 1040x             * To figure the annualized amount for line 2, multiply the exclusion or deduction for the period by the annualization amount on line 2 of Schedule AI for the same period. How to fill out tax form 1040x     ** If you use Form 8615 to figure the tax on line 4 above, enter the amount from line 3 above on line 4 of Form 8615. How to fill out tax form 1040x If the child's parent files Form 2555 or 2555-EZ, enter the amounts from lines 3 and 4 of the parent's Foreign Earned Income Tax Worksheet on lines 6 and 10, respectively, of Form 8615. How to fill out tax form 1040x Complete the rest of Form 8615 according to its instructions. How to fill out tax form 1040x Then complete lines 5 and 6 above. How to fill out tax form 1040x     *** Enter the amount from line 3 above on line 1 of the Qualified Dividends and Capital Gain Tax Worksheet (or Worksheet 4-1 in this chapter) or the Schedule D Tax Worksheet, whichever worksheet you use to figure the tax on line 4 above. How to fill out tax form 1040x Complete that worksheet through line 6 (line 10 if you use the Schedule D Tax Worksheet). How to fill out tax form 1040x Next, determine if you have a capital gain excess. How to fill out tax form 1040x     Figuring capital gain excess. How to fill out tax form 1040x To find out if you have a capital gain excess for the appropriate period, subtract line 11 of Schedule AI from line 6 of Worksheet 4-1 or your Qualified Dividends and Capital Gain Tax Worksheet (line 10 of your Schedule D Tax Worksheet). How to fill out tax form 1040x If the result is more than zero, that amount is your capital gain excess. How to fill out tax form 1040x     No capital gain excess. How to fill out tax form 1040x If you do not have a capital gain excess, complete the rest of Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or the Schedule D Tax Worksheet according to the worksheet's instructions. How to fill out tax form 1040x Then complete lines 5 and 6 above. How to fill out tax form 1040x     Capital gain excess. How to fill out tax form 1040x If you have a capital gain excess, complete a second Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or Schedule D Tax Worksheet (whichever applies) as instructed above but in its entirety and with the following additional modifications. How to fill out tax form 1040x Then complete lines 5 and 6 above. How to fill out tax form 1040x     Make the modifications below only for purposes of filling out Worksheet 4-2 above. How to fill out tax form 1040x     a. How to fill out tax form 1040x Reduce (but not below zero) the amount you otherwise would enter on line 3 of your Worksheet 4-1, line 3 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 9 of your Schedule D Tax Worksheet by your capital gain excess. How to fill out tax form 1040x     b. How to fill out tax form 1040x Reduce (but not below zero) the amount you otherwise would enter on line 2 of your Worksheet 4-1, line 2 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 6 of your Schedule D Tax Worksheet by any of your capital gain excess not used in (a) above. How to fill out tax form 1040x     c. How to fill out tax form 1040x Reduce (but not below zero) the amount on your Schedule D (Form 1040), line 18, by your capital gain excess. How to fill out tax form 1040x     d. How to fill out tax form 1040x Include your capital gain excess as a loss on line 16 of your Unrecaptured Section 1250 Gain Worksheet in the 2013 Instructions for Schedule D (Form 1040). How to fill out tax form 1040x   Prev  Up  Next   Home   More Online Publications