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

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

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

3. E-File for FREE

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

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

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

Irs Gov 1040x Form

E File ExtensionIrs Forms 2011 1040E File 2012 Taxes LateE Filing Income TaxHttp Freefile Irs GovFederal Income Tax FormH And R Block OnlineFree Income Tax PreparationAmended Tax Return Form 20111040 Com1040ez For 20112012 Income Tax SoftwareTax Form 1040aHrblock OnlineTax Software For 2012Can I Amend My 2013 Tax Return2011 Tax Form 1040 EzState Tax Forms 2012Partnership State Tax FormsHow Do I File Taxes On UnemploymentAmending Federal Tax ReturnsFree File Fillable Forms 2012How To File An Amended Return For 2013Ammend Tax ReturnMilitary Pay ScaleMail 1040ezHow Can I File My 2011 Taxes1040ez Tax File2011 1040ez InstructionsAmended Return1040ez Form 2013 InstructionsFree Federal Tax Filing 2011File 1040nr Ez OnlineFile Corporate Tax Extension OnlineCheap State Taxes OnlineHow Do I Amend My Tax ReturnH&r Block Tax ReturnWhere Can I File 2012 TaxesIrs 1040ez File OnlineTax Forms 1040 For 2012

Irs Gov 1040x Form

Irs gov 1040x form Index A Acontecimientos futuros, Acontecimientos futuros Administración del Seguro Social (SSA) Ayuda para radicar documentos ante la SSA , Ayuda para radicar documentos ante la SSA. Irs gov 1040x form Ajustes a los Formularios 941-PR, 944(SP) o 943-PR Ajustes del período en curso, Ajustes del período en curso. Irs gov 1040x form Ajustes de períodos anteriores a los Formularios 941-PR, 944(SP) o 943-PR, Ajustes de períodos anteriores Cambio en el proceso para hacer ajustes libres de intereses, Antecedentes. Irs gov 1040x form Excepciones a las correcciones de las contribuciones sobre la nómina libres de intereses , Excepciones a las correcciones de las contribuciones sobre la nómina libres de intereses. Irs gov 1040x form Planillas para ajustes en períodos anteriores, Planillas para ajustes en períodos anteriores. Irs gov 1040x form Proceso para hacer ajustes a las contribuciones sobre la nómina, Proceso para hacer ajustes a las contribuciones sobre la nómina. Irs gov 1040x form Recaudando las contribuciones retenidas de menos de los empleados, Recaudando las contribuciones retenidas de menos de los empleados. Irs gov 1040x form Reintegro de cantidades incorrectamente retenidas de los empleados, Reintegro de cantidades incorrectamente retenidas de los empleados. Irs gov 1040x form Ayuda contributiva, Cómo obtener ayuda relacionada con las contribuciones Ayuda provista por el IRS , Ayuda provista por el IRS. Irs gov 1040x form Ayuda relacionada con las contribuciones, Ayuda relacionada con las contribuciones. Irs gov 1040x form B Beneficios marginales, Retención y declaración de la contribución sobre beneficios marginales proporcionados a los empleados Cuándo se tratan los beneficios marginales como pagados al empleado, Cuándo se tratan los beneficios marginales como pagados al empleado. Irs gov 1040x form Depósito de la contribución sobre los beneficios marginales, Depósito de la contribución sobre los beneficios marginales. Irs gov 1040x form Regla especial en el caso de beneficios marginales proporcionados en noviembre y diciembre, Regla especial en el caso de beneficios marginales proporcionados en noviembre y diciembre. Irs gov 1040x form Retención de las contribuciones al Seguro Social y al seguro Medicare sobre los beneficios marginales, Retención de las contribuciones al Seguro Social y al seguro Medicare sobre los beneficios marginales. Irs gov 1040x form Valorización de vehículos proporcionados a los empleados, Valorización de vehículos proporcionados a los empleados. Irs gov 1040x form C Cálculo de las contribuciones al Seguro Social, al seguro Medicare y al FUTA , 9. Irs gov 1040x form Cálculo de las contribuciones al Seguro Social, al seguro Medicare y al FUTA Compensación por enfermedad, Pagos de compensación por enfermedad. Irs gov 1040x form Contribución Adicional al Medicare , Retención de la Contribución Adicional al Medicare. Irs gov 1040x form Contribuciones al Seguro Social y al Medicare , Contribuciones al Seguro Social y al Medicare. Irs gov 1040x form Contribuciones pagadas por el patrono, Contribución pagada por el patrono correspondiente al empleado. Irs gov 1040x form Deducción de la contribución, Deducción de la contribución. Irs gov 1040x form Patronos domésticos y agrícolas, Patronos domésticos y agrícolas. Irs gov 1040x form Calendario, Calendario Formulario 499R-2/W-2PR, Calendario Formulario 940-PR, Calendario Formulario 943-PR, Calendario Formulario 944(SP), Calendario Formulario 944-PR, Calendario Para el 28 de febrero, Calendario Para el 30 de abril, Calendario Para el 31 de enero, Calendario Para el 31 de julio, Calendario Para el 31 de marzo, Calendario Para el 31 de octubre, Calendario Clasificación errónea de empleados, Clasificación errónea de empleados. Irs gov 1040x form COBRA Crédito de asistencia para las primas COBRA , Recordatorios, Crédito de asistencia para las primas de COBRA. Irs gov 1040x form Comentarios y sugerencias, Recordatorios Compañías subsidarias calificadas conforme al subcapítulo S QSubs, Entidades no consideradas como separadas de sus dueños y compañías subsidarias calificadas conforme al subcapítulo S (QSubs). Irs gov 1040x form Compensación por enfermedad, Compensación por enfermedad Patronos Compensación por enfermedad procedentes de una compañía de seguros o de algún otro tercero pagador, Patronos. Irs gov 1040x form Terceros pagadores, Terceros pagadores. Irs gov 1040x form Contratación de nuevos empleados, Recordatorios Contratistas independientes, Contratistas independientes. Irs gov 1040x form Contribución Adicional al Medicare Retención de la Contribución Adicional al Medicare , Recordatorios Contribución Adicional al Medicare, ajustes a la retención, Ajustes a la retención de la Contribución Adicional al Medicare. Irs gov 1040x form Contribución al Seguro Social y al seguro Medicare por trabajo agrícola, 7. Irs gov 1040x form Contribución al Seguro Social y al seguro Medicare por trabajo agrícola El requisito de los $150 o $2,500, El requisito de los $150 o $2,500. Irs gov 1040x form Excepciones al requisito de los $150 o $2,500, Excepciones. Irs gov 1040x form Contribución al Seguro Social y al seguro Medicare por trabajo doméstico, 8. Irs gov 1040x form Contribución al Seguro Social y al seguro Medicare por trabajo doméstico Contribución FUTA , Contribución federal para el desempleo (contribución FUTA). Irs gov 1040x form Contribución sobre los ingresos de Puerto Rico, Contribuciones sobre los ingresos de Puerto Rico. Irs gov 1040x form Contribuciones al Seguro Social y al Medicare para 2014, Contribuciones al Seguro Social y al Medicare para 2014. Irs gov 1040x form Crédito contributivo por oportunidad de trabajo, Recordatorios D Defensor del Contribuyente, Servicio del Defensor del Contribuyente. Irs gov 1040x form Depósito de las contribuciones al Seguro Social y al seguro  Medicare, requisitos de Ajustes a las contribuciones del período retroactivo , Ajustes a las contribuciones del período retroactivo. Irs gov 1040x form Aplicación de los itinerarios mensuales y bisemanales, Aplicación de los itinerarios mensuales y bisemanales. Irs gov 1040x form Cuándo se tienen que hacer los depósitos, Cuándo se tienen que hacer los depósitos. Irs gov 1040x form Depósitos en días laborables solamente, Depósitos en días laborables solamente. Irs gov 1040x form Depósitos, cuándo se hacen, 11. Irs gov 1040x form Depósito de las contribuciones al Seguro Social y al seguro  Medicare Días feriados oficiales, Días feriados oficiales. Irs gov 1040x form Ejemplo de itinerario bisemanal, Ejemplo de itinerario bisemanal. Irs gov 1040x form Ejemplo de itinerario mensual, Ejemplo de itinerario mensual. Irs gov 1040x form Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados agrícolas, Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados agrícolas. Irs gov 1040x form Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados no agrícolas, Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados no agrícolas. Irs gov 1040x form Fecha compensatoria para una cantidad depositada de menos, Fecha compensatoria para una cantidad depositada de menos: Formularios 941-X (PR), 944-X (PR), 944-X (SP), 943-X (PR), Ajustes a las contribuciones del período retroactivo. Irs gov 1040x form Patronos de empleados agrícolas nuevos, Patronos de empleados agrícolas nuevos. Irs gov 1040x form Patronos nuevos, Patronos nuevos. Irs gov 1040x form Patronos que tienen empleados tanto agrícolas como no agrícolas, Patronos que tienen empleados tanto agrícolas como no agrícolas. Irs gov 1040x form Período de depósito, Período de depósito. Irs gov 1040x form Período de depósito de itinerario bisemanal que abarca 2 trimestres, Período de depósito de itinerario bisemanal que abarca 2 trimestres. Irs gov 1040x form Período retroactivo para patronos de empleados agrícolas, Período retroactivo para patronos de empleados agrícolas. Irs gov 1040x form Período retroactivo para patronos de empleados no agrícolas, Período retroactivo para patronos de empleados no agrícolas. Irs gov 1040x form Regla de depositar $100,000 el próximo día, Regla de depositar $100,000 el próximo día. Irs gov 1040x form Regla de depósito de itinerario mensual, Regla de depósito de itinerario mensual. Irs gov 1040x form Regla de la exactitud de los depósitos, Regla de la exactitud de los depósitos. Irs gov 1040x form Reglas para los depositantes de itinerario bisemanal, Reglas para los depositantes de itinerario bisemanal. Irs gov 1040x form Requisito de los $2,500, Requisito de los $2,500. Irs gov 1040x form Depósito electrónico Contribución federal, Recordatorios Depósitos de la contribución al Seguro Social y al seguro  Medicare, cómo se hacen, Cómo hacer los depósitos Cuando usted recibe su EIN , Cuando usted recibe su EIN. Irs gov 1040x form Depósitos hechos a tiempo, Depósitos hechos a tiempo. Irs gov 1040x form Opción de pago el mismo día, Opción de pago el mismo día. Irs gov 1040x form Reclamación de créditos por pagos en exceso, Reclamación de créditos por pagos en exceso. Irs gov 1040x form Registro de depósitos, Registro de depósitos. Irs gov 1040x form Requisito de depósito electrónico, Requisito de depósito electrónico. Irs gov 1040x form Dirección Cambio de dirección, Recordatorios Discrepancias entre los Formularios 941-PR or 944-PR y los Formularios 499R-2/W-2PR, Recordatorios E Elegibilidad para empleo, Elegibilidad para empleo. Irs gov 1040x form Empleado Definición, 2. Irs gov 1040x form ¿Quiénes son empleados? Estatutarios, Empleados estatutarios. Irs gov 1040x form Según el derecho común, Definición de empleado según el derecho común. Irs gov 1040x form Empleado doméstico Requisito de $1,900, Requisito de $1,900. Irs gov 1040x form Empleados Clasificación errónea de empleados, Clasificación errónea de empleados. Irs gov 1040x form Empleados arrendados, Empleados arrendados. Irs gov 1040x form Entidades no consideradas como separadas de sus dueños, Entidades no consideradas como separadas de sus dueños y compañías subsidarias calificadas conforme al subcapítulo S (QSubs). Irs gov 1040x form Exención, disposiciones de, Disposiciones de exención. Irs gov 1040x form Especialista en servicios técnicos, Especialista en servicios técnicos. Irs gov 1040x form F Formulario 499R-2/W-2PR, 13. Irs gov 1040x form Los Formularios 499R-2/W-2PR y W-3PR SS-5-SP, Recordatorios, Tarjeta de Seguro Social del empleado. Irs gov 1040x form SS-8PR, Ayuda provista por el IRS. Irs gov 1040x form W-3PR, 13. Irs gov 1040x form Los Formularios 499R-2/W-2PR y W-3PR Formulario 944-PR descontinuado, Recordatorios Fotografías de niños desaparecidos, Recordatorios FUTA Ley Federal de Contribución para el Desempleo (FUTA). Irs gov 1040x form , Ley Federal de Contribución para el Desempleo (FUTA). Irs gov 1040x form Reducción en el crédito contra la contribución FUTA , Estados o territorios con reducción en el crédito. Irs gov 1040x form G Gastos de viaje y de representación, Gastos de viaje y de representación. Irs gov 1040x form I Individuos que no son empleados estatutarios, Individuos que no son empleados estatutarios. Irs gov 1040x form Agentes de bienes inmuebles autorizados, Agentes de bienes inmuebles autorizados. Irs gov 1040x form Personas a quienes se les paga por acompañar y posiblemente cuidar a otras, Personas a quienes se les paga por acompañar y posiblemente cuidar a otras. Irs gov 1040x form Vendedores directos, Vendedores directos. Irs gov 1040x form Introducción, Introduction L Líder de cuadrilla agrícola, Líder de cuadrilla agrícola. Irs gov 1040x form Los Formularios 499R-2/W-2PR y W-3PR, 13. Irs gov 1040x form Los Formularios 499R-2/W-2PR y W-3PR Problemas con la radicación electrónica, Problemas con la radicación electrónica. Irs gov 1040x form Radicación de Formularios 499R-2/W-2PR ante el Departamento de Hacienda, Radicación de Formularios 499R-2/W-2PR ante el Departamento de Hacienda. Irs gov 1040x form Solicitud de exención de radicación de declaraciones informativas por medios electrónicos, Solicitud de exención de radicación de declaraciones informativas por medios electrónicos. Irs gov 1040x form M Mantenimiento de récords, Recordatorios Matrimonio Matrimonio entre personas del mismo sexo. Irs gov 1040x form , Qué hay de nuevo Medicare Retención de la Contribución Adicional al Medicare , Retención de la Contribución Adicional al Medicare. Irs gov 1040x form Medios electrónicos, pago y radicación por, Recordatorios Multas relacionadas con los depósitos de la contribución al Seguro Social y al seguro  Medicare , Multas relacionadas con los depósitos. Irs gov 1040x form Agentes de reportación, Agentes de reportación. Irs gov 1040x form Multa por recuperación del fondo fiduciario, Multa por recuperación del fondo fiduciario. Irs gov 1040x form Multa promediada por no depositar, Multa promediada por no depositar. Irs gov 1040x form Orden en que se aplican los depósitos, Orden en que se aplican los depósitos. Irs gov 1040x form Regla especial para los que radicaron el Formulario 944(SP) anteriormente, Regla especial para los que radicaron el Formulario 944(SP) anteriormente. Irs gov 1040x form N Negocio perteneciente y administrado por cónyuges, Negocio que pertenece y es administrado por los cónyuges Excepción: Negocio en participación calificado, Excepción: Negocio en participación calificado. Irs gov 1040x form Nómina Externalización de las obligaciones de la nómina, Recordatorios Outsourcing payroll duties , Recordatorios Número de identificación de contribuyente individual (ITIN), Número de identificación personal del contribuyente (ITIN) del IRS para extranjeros. Irs gov 1040x form Número de identificación patronal (EIN), 3. Irs gov 1040x form Número de identificación patronal (EIN) Número de identificación patronal en linea (EIN), solicitud de un, Recordatorios Número de Seguro Social Dónde se obtienen los formularios , Dónde se obtienen los formularios para solicitar un Número de Seguro Social. Irs gov 1040x form Número de Seguro Social (SSN) , 4. Irs gov 1040x form Número de Seguro Social (SSN), Tarjeta de Seguro Social del empleado. Irs gov 1040x form Escriba correctamente el nombre y número de Seguro Social del empleado, Escriba correctamente el nombre y número de Seguro Social del empleado. Irs gov 1040x form Tarjeta de Seguro Social del empleado, Tarjeta de Seguro Social del empleado. Irs gov 1040x form Verificación de los números de Seguro Social, Verificación de los números de Seguro Social. Irs gov 1040x form P Pago por medios electrónicos, Recordatorios Pagos con tarjeta de crédito o débito, Recordatorios Pagos que no se consideran salarios Empleado doméstico, Pagos que no se consideran salarios. Irs gov 1040x form Transportación (beneficios de transporte), Transportación (beneficios de transporte). Irs gov 1040x form Pagos rechazados, Recordatorios Pagos y depósitos de la contribución FUTA , 10. Irs gov 1040x form Pagos y depósitos de la contribución federal para el desempleo (la contribución FUTA) Depósitos, Depósitos. Irs gov 1040x form Empleados domésticos, Empleados domésticos. Irs gov 1040x form Formulario 940-PR, Formulario 940-PR. Irs gov 1040x form Tasa de la contribución, Tasa de la contribución FUTA. Irs gov 1040x form Trabajadores agrícolas, Trabajadores agrícolas. Irs gov 1040x form Parte responsable Cambio de parte responsable, Qué hay de nuevo Patrono, definición, 1. Irs gov 1040x form ¿Quién es patrono? Planillas para patronos Formulario 944(SP), Formulario 944(SP). Irs gov 1040x form Multas por no radicar y por no pagar, Multas o penalidades. Irs gov 1040x form Patrono sucesor, Patrono sucesor. Irs gov 1040x form Patrono sucesor, crédito especial, Crédito especial para un patrono sucesor. Irs gov 1040x form Patronos de empleados domésticos que declaran las contribuciones al Seguro Social y al Medicare , Patronos de empleados domésticos que declaran las contribuciones al Seguro Social y al Medicare. Irs gov 1040x form Patronos de trabajadores agrícolas, Patronos de trabajadores agrícolas. Irs gov 1040x form Patronos que no son patronos agrícolas, Patronos que no son patronos agrícolas. Irs gov 1040x form Planilla anual y pago de la contribución federal para el desempleo (contribución  FUTA), Planilla anual y pago de la contribución federal para el desempleo (contribución FUTA). Irs gov 1040x form Programa de acuerdo voluntario para la clasificación de trabajadores (VCSP), Programa para el acuerdo de clasificación voluntaria de trabajadores (VCSP, por sus siglas en inglés). Irs gov 1040x form Propinas, 6. Irs gov 1040x form Propinas Formulario 4070-PR, 6. Irs gov 1040x form Propinas Formulario 4070A-PR, 6. Irs gov 1040x form Propinas Informe de propinas, Informe de propinas. Irs gov 1040x form Recaudación de las contribuciones sobre las propinas, Recaudación de las contribuciones sobre las propinas. Irs gov 1040x form Regla de disposición, Regla de disposición. Irs gov 1040x form Q Qué hay de nuevo Contribuciones al Medicare para 2014, Qué hay de nuevo Contribuciones al Seguro Social para 2014, Qué hay de nuevo R Radicación por medios electrónicos, Recordatorios Radicar el Formulario 944(SP) en vez del Formulario 941-PR, Recordatorios Recordatorios, Recordatorios Récords, Recordatorios Reglas especiales para varias clases de servicios y de pagos, 15. Irs gov 1040x form Reglas especiales para varias clases de servicios y de pagos Retención de la contribución federal sobre ingresos, 14. Irs gov 1040x form Retención de la contribución federal sobre ingresos S Salarios sujetos a la contribución Compensaciones sujetos a la contribución, 5. Irs gov 1040x form Salarios y otra compensación Servicio del Defensor del Contribuyente, Servicio del Defensor del Contribuyente. Irs gov 1040x form Servicios de entrega privados, Recordatorios T Tarjetas de crédito o débito, pagos con, Recordatorios TAS , Servicio del Defensor del Contribuyente. Irs gov 1040x form Trabajo doméstico, Trabajo doméstico. Irs gov 1040x form V Veteranos calificados, contratación, Recordatorios Visa H-2A, Trabajadores agrícolas. Irs gov 1040x form Remuneración pagada a trabajadores agrícolas con visa H-2A, Recordatorios Prev  Up     Home   More Online Publications
Print - Click this link to Print this page

Tax Relief for Victims of Severe Storms, Straight-line Winds and Tornadoes in Indiana

IN-2012-14, March 12, 2012

DETROIT — Victims of the severe storms, straight-line winds and tornadoes that began on Feb. 29, 2012 in parts of Indiana may qualify for tax relief from the Internal Revenue Service.

The President has declared Clark, Jefferson, Ripley, Scott, Warrick and Washington counties a federal disaster area. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Feb. 29, and on or before May 31, have been postponed to May 31, 2012. This includes the April 17 deadline for filing 2011 individual income tax returns, making income tax payments and making 2011 contributions to an individual retirement account (IRA).  

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Feb. 29, and on or before March 15, as long as the deposits are made by March 15, 2012.

If an affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the telephone number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply. Penalties or interest will be abated only for taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.

Covered Disaster Area

The counties listed above constitute a covered disaster area for purposes of Treas. Reg. § 301.7508A-1(d)(2) and are entitled to the relief detailed below.

Affected Taxpayers

Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. Reg. § 301.7508A-1(d)(1), and include individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief.

Grant of Relief

Under section 7508A, the IRS gives affected taxpayers until May 31 to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date occurring on or after Feb. 29 and on or before May 31.

The IRS also gives affected taxpayers until May 31 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2007-56, 2007-34 I.R.B. 388 (Aug. 20, 2007), that are due to be performed on or after Feb. 29 and on or before May 31.

This relief also includes the filing of Form 5500 series returns, in the manner described in section 8 of Rev. Proc. 2007-56. The relief described in section 17 of Rev. Proc. 2007-56, pertaining to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise tax deposits due on or after Feb. 29 and on or before March 15 provided the taxpayer makes these deposits by March 15.

Casualty Losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either this year or last year. Claiming the loss on an original or amended return for last year will get the taxpayer an earlier refund, but waiting to claim the loss on this year’s return could result in a greater tax saving, depending on other income factors.

Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684 and its instructions.

Affected taxpayers claiming the disaster loss on last year’s return should put the Disaster Designation “Indiana, Severe Storms, Straight-line Winds, and Tornadoes” at the top of the form so that the IRS can expedite the processing of the refund.

Other Relief

The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.

Taxpayers may download forms and publications from the official IRS website, irs.gov, or order them by calling 800-TAX-FORM (800-829-3676). The IRS toll-free number for general tax questions is 800-829-1040.

Related Information

Page Last Reviewed or Updated: 30-Jan-2014

The Irs Gov 1040x Form

Irs gov 1040x form 1. Irs gov 1040x form   Traditional IRAs Table of Contents What's New for 2013 What's New for 2014 Introduction Who Can Open a Traditional IRA?What Is Compensation? When Can a Traditional IRA Be Opened? How Can a Traditional IRA Be Opened?Individual Retirement Account Individual Retirement Annuity Individual Retirement Bonds Simplified Employee Pension (SEP) Employer and Employee Association Trust Accounts Required Disclosures How Much Can Be Contributed?Limit. Irs gov 1040x form When repayment contributions can be made. Irs gov 1040x form No deduction. Irs gov 1040x form Reserve component. Irs gov 1040x form Figuring your IRA deduction. Irs gov 1040x form Reporting the repayment. Irs gov 1040x form Example. Irs gov 1040x form General Limit Kay Bailey Hutchison Spousal IRA Limit Filing Status Less Than Maximum Contributions More Than Maximum Contributions When Can Contributions Be Made? How Much Can You Deduct?Kay Bailey Hutchison Spousal IRA. Irs gov 1040x form Are You Covered by an Employer Plan? Limit if Covered by Employer Plan Reporting Deductible Contributions Nondeductible Contributions Examples — Worksheet for Reduced IRA Deduction for 2013 What if You Inherit an IRA?Treating it as your own. Irs gov 1040x form Can You Move Retirement Plan Assets?Transfers to Roth IRAs from other retirement plans. Irs gov 1040x form Trustee-to-Trustee Transfer Rollovers Transfers Incident To Divorce Converting From Any Traditional IRA Into a Roth IRA Recharacterizations When Can You Withdraw or Use Assets?Contributions Returned Before Due Date of Return When Must You Withdraw Assets? (Required Minimum Distributions)IRA Owners IRA Beneficiaries Which Table Do You Use To Determine Your Required Minimum Distribution? What Age(s) Do You Use With the Table(s)? Miscellaneous Rules for Required Minimum Distributions Are Distributions Taxable?January 2013 QCDs treated as made in 2012. Irs gov 1040x form 2013 Reporting. Irs gov 1040x form Additional reporting requirements if you made the election to treat a January 2013 QCD as made in 2012. Irs gov 1040x form One-time transfer. Irs gov 1040x form Testing period rules apply. Irs gov 1040x form More information. Irs gov 1040x form Distributions Fully or Partly Taxable Figuring the Nontaxable and Taxable Amounts Recognizing Losses on Traditional IRA Investments Other Special IRA Distribution Situations Reporting and Withholding Requirements for Taxable Amounts What Acts Result in Penalties or Additional Taxes?Prohibited Transactions Investment in Collectibles Excess Contributions Early Distributions Excess Accumulations (Insufficient Distributions) Reporting Additional Taxes What's New for 2013 Traditional IRA contribution and deduction limit. Irs gov 1040x form  The contribution limit to your traditional IRA for 2013 will be increased to the smaller of the following amounts: $5,500, or Your taxable compensation for the year. Irs gov 1040x form If you were age 50 or older before 2014, the most that can be contributed to your traditional IRA for 2013 will be the smaller of the following amounts: $6,500, or Your taxable compensation for the year. Irs gov 1040x form For more information, see How Much Can Be Contributed? in this chapter. Irs gov 1040x form Modified AGI limit for traditional IRA contributions increased. Irs gov 1040x form  For 2013, if you were covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $95,000 but less than $115,000 for a married couple filing a joint return or a qualifying widow(er), More than $59,000 but less than $69,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Irs gov 1040x form If you either lived with your spouse or file a joint return, and your spouse was covered by a retirement plan at work, but you were not, your deduction is phased out if your modified AGI is more than $178,000 but less than $188,000. Irs gov 1040x form If your modified AGI is $188,000 or more, you cannot take a deduction for contributions to a traditional IRA. Irs gov 1040x form See How Much Can You Deduct? in this chapter. Irs gov 1040x form Net Investment Income Tax. Irs gov 1040x form  For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), 457(b) plans, and IRAs). Irs gov 1040x form However, these distributions are taken into account when determining the modified adjusted gross income threshold. Irs gov 1040x form Distributions from a nonqualified retirement plan are included in net investment income. Irs gov 1040x form See Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions for more information. Irs gov 1040x form What's New for 2014 Modified AGI limit for traditional IRA contributions increased. Irs gov 1040x form  For 2014, if you are covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $96,000 but less than $116,000 for a married couple filing a joint return or a qualifying widow(er), More than $60,000 but less than $70,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Irs gov 1040x form If you either live with your spouse or file a joint return, and your spouse is covered by a retirement plan at work, but you are not, your deduction is phased out if your modified AGI is more than $181,000 but less than $191,000. Irs gov 1040x form If your modified AGI is $191,000 or more, you cannot take a deduction for contributions to a traditional IRA. Irs gov 1040x form Introduction This chapter discusses the original IRA. Irs gov 1040x form In this publication the original IRA (sometimes called an ordinary or regular IRA) is referred to as a “traditional IRA. Irs gov 1040x form ” A traditional IRA is any IRA that is not a Roth IRA or a SIMPLE IRA. Irs gov 1040x form The following are two advantages of a traditional IRA: You may be able to deduct some or all of your contributions to it, depending on your circumstances. Irs gov 1040x form Generally, amounts in your IRA, including earnings and gains, are not taxed until they are distributed. Irs gov 1040x form Who Can Open a Traditional IRA? You can open and make contributions to a traditional IRA if: You (or, if you file a joint return, your spouse) received taxable compensation during the year, and You were not age 70½ by the end of the year. Irs gov 1040x form You can have a traditional IRA whether or not you are covered by any other retirement plan. Irs gov 1040x form However, you may not be able to deduct all of your contributions if you or your spouse is covered by an employer retirement plan. Irs gov 1040x form See How Much Can You Deduct , later. Irs gov 1040x form Both spouses have compensation. Irs gov 1040x form   If both you and your spouse have compensation and are under age 70½, each of you can open an IRA. Irs gov 1040x form You cannot both participate in the same IRA. Irs gov 1040x form If you file a joint return, only one of you needs to have compensation. Irs gov 1040x form What Is Compensation? Generally, compensation is what you earn from working. Irs gov 1040x form For a summary of what compensation does and does not include, see Table 1-1. Irs gov 1040x form Compensation includes all of the items discussed next (even if you have more than one type). Irs gov 1040x form Wages, salaries, etc. Irs gov 1040x form   Wages, salaries, tips, professional fees, bonuses, and other amounts you receive for providing personal services are compensation. Irs gov 1040x form The IRS treats as compensation any amount properly shown in box 1 (Wages, tips, other compensation) of Form W-2, Wage and Tax Statement, provided that amount is reduced by any amount properly shown in box 11 (Nonqualified plans). Irs gov 1040x form Scholarship and fellowship payments are compensation for IRA purposes only if shown in box 1 of Form W-2. Irs gov 1040x form Commissions. Irs gov 1040x form   An amount you receive that is a percentage of profits or sales price is compensation. Irs gov 1040x form Self-employment income. Irs gov 1040x form   If you are self-employed (a sole proprietor or a partner), compensation is the net earnings from your trade or business (provided your personal services are a material income-producing factor) reduced by the total of: The deduction for contributions made on your behalf to retirement plans, and The deduction allowed for the deductible part of your self-employment taxes. Irs gov 1040x form   Compensation includes earnings from self-employment even if they are not subject to self-employment tax because of your religious beliefs. Irs gov 1040x form Self-employment loss. Irs gov 1040x form   If you have a net loss from self-employment, do not subtract the loss from your salaries or wages when figuring your total compensation. Irs gov 1040x form Alimony and separate maintenance. Irs gov 1040x form   For IRA purposes, compensation includes any taxable alimony and separate maintenance payments you receive under a decree of divorce or separate maintenance. Irs gov 1040x form Nontaxable combat pay. Irs gov 1040x form   If you were a member of the U. Irs gov 1040x form S. Irs gov 1040x form Armed Forces, compensation includes any nontaxable combat pay you received. Irs gov 1040x form This amount should be reported in box 12 of your 2013 Form W-2 with code Q. Irs gov 1040x form Table 1-1. Irs gov 1040x form Compensation for Purposes of an IRA Includes . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form Does not include . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form   earnings and profits from property. Irs gov 1040x form wages, salaries, etc. Irs gov 1040x form     interest and dividend income. Irs gov 1040x form commissions. Irs gov 1040x form     pension or annuity income. Irs gov 1040x form self-employment income. Irs gov 1040x form     deferred compensation. Irs gov 1040x form alimony and separate maintenance. Irs gov 1040x form     income from certain  partnerships. Irs gov 1040x form nontaxable combat pay. Irs gov 1040x form     any amounts you exclude from income. Irs gov 1040x form     What Is Not Compensation? Compensation does not include any of the following items. Irs gov 1040x form Earnings and profits from property, such as rental income, interest income, and dividend income. Irs gov 1040x form Pension or annuity income. Irs gov 1040x form Deferred compensation received (compensation payments postponed from a past year). Irs gov 1040x form Income from a partnership for which you do not provide services that are a material income-producing factor. Irs gov 1040x form Conservation Reserve Program (CRP) payments reported on Schedule SE (Form 1040), line 1b. Irs gov 1040x form Any amounts (other than combat pay) you exclude from income, such as foreign earned income and housing costs. Irs gov 1040x form When Can a Traditional IRA Be Opened? You can open a traditional IRA at any time. Irs gov 1040x form However, the time for making contributions for any year is limited. Irs gov 1040x form See When Can Contributions Be Made , later. Irs gov 1040x form How Can a Traditional IRA Be Opened? You can open different kinds of IRAs with a variety of organizations. Irs gov 1040x form You can open an IRA at a bank or other financial institution or with a mutual fund or life insurance company. Irs gov 1040x form You can also open an IRA through your stockbroker. Irs gov 1040x form Any IRA must meet Internal Revenue Code requirements. Irs gov 1040x form The requirements for the various arrangements are discussed below. Irs gov 1040x form Kinds of traditional IRAs. Irs gov 1040x form   Your traditional IRA can be an individual retirement account or annuity. Irs gov 1040x form It can be part of either a simplified employee pension (SEP) or an employer or employee association trust account. Irs gov 1040x form Individual Retirement Account An individual retirement account is a trust or custodial account set up in the United States for the exclusive benefit of you or your beneficiaries. Irs gov 1040x form The account is created by a written document. Irs gov 1040x form The document must show that the account meets all of the following requirements. Irs gov 1040x form The trustee or custodian must be a bank, a federally insured credit union, a savings and loan association, or an entity approved by the IRS to act as trustee or custodian. Irs gov 1040x form The trustee or custodian generally cannot accept contributions of more than the deductible amount for the year. Irs gov 1040x form However, rollover contributions and employer contributions to a simplified employee pension (SEP) can be more than this amount. Irs gov 1040x form Contributions, except for rollover contributions, must be in cash. Irs gov 1040x form See Rollovers , later. Irs gov 1040x form You must have a nonforfeitable right to the amount at all times. Irs gov 1040x form Money in your account cannot be used to buy a life insurance policy. Irs gov 1040x form Assets in your account cannot be combined with other property, except in a common trust fund or common investment fund. Irs gov 1040x form You must start receiving distributions by April 1 of the year following the year in which you reach age 70½. Irs gov 1040x form See When Must You Withdraw Assets? (Required Minimum Distributions) , later. Irs gov 1040x form Individual Retirement Annuity You can open an individual retirement annuity by purchasing an annuity contract or an endowment contract from a life insurance company. Irs gov 1040x form An individual retirement annuity must be issued in your name as the owner, and either you or your beneficiaries who survive you are the only ones who can receive the benefits or payments. Irs gov 1040x form An individual retirement annuity must meet all the following requirements. Irs gov 1040x form Your entire interest in the contract must be nonforfeitable. Irs gov 1040x form The contract must provide that you cannot transfer any portion of it to any person other than the issuer. Irs gov 1040x form There must be flexible premiums so that if your compensation changes, your payment can also change. Irs gov 1040x form This provision applies to contracts issued after November 6, 1978. Irs gov 1040x form The contract must provide that contributions cannot be more than the deductible amount for an IRA for the year, and that you must use any refunded premiums to pay for future premiums or to buy more benefits before the end of the calendar year after the year in which you receive the refund. Irs gov 1040x form Distributions must begin by April 1 of the year following the year in which you reach age 70½. Irs gov 1040x form See When Must You Withdraw Assets? (Required Minimum Distributions) , later. Irs gov 1040x form Individual Retirement Bonds The sale of individual retirement bonds issued by the federal government was suspended after April 30, 1982. Irs gov 1040x form The bonds have the following features. Irs gov 1040x form They stop earning interest when you reach age 70½. Irs gov 1040x form If you die, interest will stop 5 years after your death, or on the date you would have reached age 70½, whichever is earlier. Irs gov 1040x form You cannot transfer the bonds. Irs gov 1040x form If you cash (redeem) the bonds before the year in which you reach age 59½, you may be subject to a 10% additional tax. Irs gov 1040x form See Age 59½ Rule under Early Distributions, later. Irs gov 1040x form You can roll over redemption proceeds into IRAs. Irs gov 1040x form Simplified Employee Pension (SEP) A simplified employee pension (SEP) is a written arrangement that allows your employer to make deductible contributions to a traditional IRA (a SEP IRA) set up for you to receive such contributions. Irs gov 1040x form Generally, distributions from SEP IRAs are subject to the withdrawal and tax rules that apply to traditional IRAs. Irs gov 1040x form See Publication 560 for more information about SEPs. Irs gov 1040x form Employer and Employee Association Trust Accounts Your employer or your labor union or other employee association can set up a trust to provide individual retirement accounts for employees or members. Irs gov 1040x form The requirements for individual retirement accounts apply to these traditional IRAs. Irs gov 1040x form Required Disclosures The trustee or issuer (sometimes called the sponsor) of your traditional IRA generally must give you a disclosure statement at least 7 days before you open your IRA. Irs gov 1040x form However, the sponsor does not have to give you the statement until the date you open (or purchase, if earlier) your IRA, provided you are given at least 7 days from that date to revoke the IRA. Irs gov 1040x form The disclosure statement must explain certain items in plain language. Irs gov 1040x form For example, the statement should explain when and how you can revoke the IRA, and include the name, address, and telephone number of the person to receive the notice of cancellation. Irs gov 1040x form This explanation must appear at the beginning of the disclosure statement. Irs gov 1040x form If you revoke your IRA within the revocation period, the sponsor must return to you the entire amount you paid. Irs gov 1040x form The sponsor must report on the appropriate IRS forms both your contribution to the IRA (unless it was made by a trustee-to-trustee transfer) and the amount returned to you. Irs gov 1040x form These requirements apply to all sponsors. Irs gov 1040x form How Much Can Be Contributed? There are limits and other rules that affect the amount that can be contributed to a traditional IRA. Irs gov 1040x form These limits and rules are explained below. Irs gov 1040x form Community property laws. Irs gov 1040x form   Except as discussed later under Kay Bailey Hutchison Spousal IRA Limit , each spouse figures his or her limit separately, using his or her own compensation. Irs gov 1040x form This is the rule even in states with community property laws. Irs gov 1040x form Brokers' commissions. Irs gov 1040x form   Brokers' commissions paid in connection with your traditional IRA are subject to the contribution limit. Irs gov 1040x form For information about whether you can deduct brokers' commissions, see Brokers' commissions , later, under How Much Can You Deduct. Irs gov 1040x form Trustees' fees. Irs gov 1040x form   Trustees' administrative fees are not subject to the contribution limit. Irs gov 1040x form For information about whether you can deduct trustees' fees, see Trustees' fees , later, under How Much Can You Deduct. Irs gov 1040x form Qualified reservist repayments. Irs gov 1040x form   If you were a member of a reserve component and you were ordered or called to active duty after September 11, 2001, you may be able to contribute (repay) to an IRA amounts equal to any qualified reservist distributions (defined later under Early Distributions) you received. Irs gov 1040x form You can make these repayment contributions even if they would cause your total contributions to the IRA to be more than the general limit on contributions. Irs gov 1040x form To be eligible to make these repayment contributions, you must have received a qualified reservist distribution from an IRA or from a section 401(k) or 403(b) plan or a similar arrangement. Irs gov 1040x form Limit. Irs gov 1040x form   Your qualified reservist repayments cannot be more than your qualified reservist distributions, explained under Early Distributions , later. Irs gov 1040x form When repayment contributions can be made. Irs gov 1040x form   You cannot make these repayment contributions later than the date that is 2 years after your active duty period ends. Irs gov 1040x form No deduction. Irs gov 1040x form   You cannot deduct qualified reservist repayments. Irs gov 1040x form Reserve component. Irs gov 1040x form   The term “reserve component” means the: Army National Guard of the United States, Army Reserve, Naval Reserve, Marine Corps Reserve, Air National Guard of the United States, Air Force Reserve, Coast Guard Reserve, or Reserve Corps of the Public Health Service. Irs gov 1040x form Figuring your IRA deduction. Irs gov 1040x form   The repayment of qualified reservist distributions does not affect the amount you can deduct as an IRA contribution. Irs gov 1040x form Reporting the repayment. Irs gov 1040x form   If you repay a qualified reservist distribution, include the amount of the repayment with nondeductible contributions on line 1 of Form 8606. Irs gov 1040x form Example. Irs gov 1040x form   In 2013, your IRA contribution limit is $5,500. Irs gov 1040x form However, because of your filing status and AGI, the limit on the amount you can deduct is $3,500. Irs gov 1040x form You can make a nondeductible contribution of $2,000 ($5,500 - $3,500). Irs gov 1040x form In an earlier year you received a $3,000 qualified reservist distribution, which you would like to repay this year. Irs gov 1040x form   For 2013, you can contribute a total of $8,500 to your IRA. Irs gov 1040x form This is made up of the maximum deductible contribution of $3,500; a nondeductible contribution of $2,000; and a $3,000 qualified reservist repayment. Irs gov 1040x form You contribute the maximum allowable for the year. Irs gov 1040x form Since you are making a nondeductible contribution ($2,000) and a qualified reservist repayment ($3,000), you must file Form 8606 with your return and include $5,000 ($2,000 + $3,000) on line 1 of Form 8606. Irs gov 1040x form The qualified reservist repayment is not deductible. Irs gov 1040x form Contributions on your behalf to a traditional IRA reduce your limit for contributions to a Roth IRA. Irs gov 1040x form See chapter 2 for information about Roth IRAs. Irs gov 1040x form General Limit For 2013, the most that can be contributed to your traditional IRA generally is the smaller of the following amounts: $5,500 ($6,500 if you are age 50 or older), or Your taxable compensation (defined earlier) for the year. Irs gov 1040x form Note. Irs gov 1040x form This limit is reduced by any contributions to a section 501(c)(18) plan (generally, a pension plan created before June 25, 1959, that is funded entirely by employee contributions). Irs gov 1040x form This is the most that can be contributed regardless of whether the contributions are to one or more traditional IRAs or whether all or part of the contributions are nondeductible. Irs gov 1040x form (See Nondeductible Contributions , later. Irs gov 1040x form ) Qualified reservist repayments do not affect this limit. Irs gov 1040x form Examples. Irs gov 1040x form George, who is 34 years old and single, earns $24,000 in 2013. Irs gov 1040x form His IRA contributions for 2013 are limited to $5,500. Irs gov 1040x form Danny, an unmarried college student working part time, earns $3,500 in 2013. Irs gov 1040x form His IRA contributions for 2013 are limited to $3,500, the amount of his compensation. Irs gov 1040x form More than one IRA. Irs gov 1040x form   If you have more than one IRA, the limit applies to the total contributions made on your behalf to all your traditional IRAs for the year. Irs gov 1040x form Annuity or endowment contracts. Irs gov 1040x form   If you invest in an annuity or endowment contract under an individual retirement annuity, no more than $5,500 ($6,500 if you are age 50 or older) can be contributed toward its cost for the tax year, including the cost of life insurance coverage. Irs gov 1040x form If more than this amount is contributed, the annuity or endowment contract is disqualified. Irs gov 1040x form Kay Bailey Hutchison Spousal IRA Limit For 2013, if you file a joint return and your taxable compensation is less than that of your spouse, the most that can be contributed for the year to your IRA is the smaller of the following two amounts: $5,500 ($6,500 if you are age 50 or older), or The total compensation includible in the gross income of both you and your spouse for the year, reduced by the following two amounts. Irs gov 1040x form Your spouse's IRA contribution for the year to a traditional IRA. Irs gov 1040x form Any contributions for the year to a Roth IRA on behalf of your spouse. Irs gov 1040x form This means that the total combined contributions that can be made for the year to your IRA and your spouse's IRA can be as much as $11,000 ($12,000 if only one of you is age 50 or older or $13,000 if both of you are age 50 or older). Irs gov 1040x form Note. Irs gov 1040x form This traditional IRA limit is reduced by any contributions to a section 501(c)(18) plan (generally, a pension plan created before June 25, 1959, that is funded entirely by employee contributions). Irs gov 1040x form Example. Irs gov 1040x form Kristin, a full-time student with no taxable compensation, marries Carl during the year. Irs gov 1040x form Neither of them was age 50 by the end of 2013. Irs gov 1040x form For the year, Carl has taxable compensation of $30,000. Irs gov 1040x form He plans to contribute (and deduct) $5,500 to a traditional IRA. Irs gov 1040x form If he and Kristin file a joint return, each can contribute $5,500 to a traditional IRA. Irs gov 1040x form This is because Kristin, who has no compensation, can add Carl's compensation, reduced by the amount of his IRA contribution ($30,000 − $5,500 = $24,500), to her own compensation (-0-) to figure her maximum contribution to a traditional IRA. Irs gov 1040x form In her case, $5,500 is her contribution limit, because $5,500 is less than $24,500 (her compensation for purposes of figuring her contribution limit). Irs gov 1040x form Filing Status Generally, except as discussed earlier under Kay Bailey Hutchison Spousal IRA Limit , your filing status has no effect on the amount of allowable contributions to your traditional IRA. Irs gov 1040x form However, if during the year either you or your spouse was covered by a retirement plan at work, your deduction may be reduced or eliminated, depending on your filing status and income. Irs gov 1040x form See How Much Can You Deduct , later. Irs gov 1040x form Example. Irs gov 1040x form Tom and Darcy are married and both are 53. Irs gov 1040x form They both work and each has a traditional IRA. Irs gov 1040x form Tom earned $3,800 and Darcy earned $48,000 in 2013. Irs gov 1040x form Because of the Kay Bailey Hutchison Spousal IRA limit rule, even though Tom earned less than $6,500, they can contribute up to $6,500 to his IRA for 2013 if they file a joint return. Irs gov 1040x form They can contribute up to $6,500 to Darcy's IRA. Irs gov 1040x form If they file separate returns, the amount that can be contributed to Tom's IRA is limited by his earned income, $3,800. Irs gov 1040x form Less Than Maximum Contributions If contributions to your traditional IRA for a year were less than the limit, you cannot contribute more after the due date of your return for that year to make up the difference. Irs gov 1040x form Example. Irs gov 1040x form Rafael, who is 40, earns $30,000 in 2013. Irs gov 1040x form Although he can contribute up to $5,500 for 2013, he contributes only $3,000. Irs gov 1040x form After April 15, 2014, Rafael cannot make up the difference between his actual contributions for 2013 ($3,000) and his 2013 limit ($5,500). Irs gov 1040x form He cannot contribute $2,500 more than the limit for any later year. Irs gov 1040x form More Than Maximum Contributions If contributions to your IRA for a year were more than the limit, you can apply the excess contribution in one year to a later year if the contributions for that later year are less than the maximum allowed for that year. Irs gov 1040x form However, a penalty or additional tax may apply. Irs gov 1040x form See Excess Contributions , later, under What Acts Result in Penalties or Additional Taxes. Irs gov 1040x form When Can Contributions Be Made? As soon as you open your traditional IRA, contributions can be made to it through your chosen sponsor (trustee or other administrator). Irs gov 1040x form Contributions must be in the form of money (cash, check, or money order). Irs gov 1040x form Property cannot be contributed. Irs gov 1040x form Although property cannot be contributed, your IRA may invest in certain property. Irs gov 1040x form For example, your IRA may purchase shares of stock. Irs gov 1040x form For other restrictions on the use of funds in your IRA, see Prohibited Transactions , later in this chapter. Irs gov 1040x form You may be able to transfer or roll over certain property from one retirement plan to another. Irs gov 1040x form See the discussion of rollovers and other transfers later in this chapter under Can You Move Retirement Plan Assets . Irs gov 1040x form You can make a contribution to your IRA by having your income tax refund (or a portion of your refund), if any, paid directly to your traditional IRA, Roth IRA, or SEP IRA. Irs gov 1040x form For details, see the instructions for your income tax return or Form 8888, Allocation of Refund (Including Savings Bond Purchases). Irs gov 1040x form Contributions can be made to your traditional IRA for each year that you receive compensation and have not reached age 70½. Irs gov 1040x form For any year in which you do not work, contributions cannot be made to your IRA unless you receive alimony, nontaxable combat pay, military differential pay, or file a joint return with a spouse who has compensation. Irs gov 1040x form See Who Can Open a Traditional IRA , earlier. Irs gov 1040x form Even if contributions cannot be made for the current year, the amounts contributed for years in which you did qualify can remain in your IRA. Irs gov 1040x form Contributions can resume for any years that you qualify. Irs gov 1040x form Contributions must be made by due date. Irs gov 1040x form   Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your return for that year, not including extensions. Irs gov 1040x form For most people, this means that contributions for 2013 must be made by April 15, 2014, and contributions for 2014 must be made by April 15, 2015. Irs gov 1040x form Age 70½ rule. Irs gov 1040x form   Contributions cannot be made to your traditional IRA for the year in which you reach age 70½ or for any later year. Irs gov 1040x form   You attain age 70½ on the date that is 6 calendar months after the 70th anniversary of your birth. Irs gov 1040x form If you were born on or before June 30, 1943, you cannot contribute for 2013 or any later year. Irs gov 1040x form Designating year for which contribution is made. Irs gov 1040x form   If an amount is contributed to your traditional IRA between January 1 and April 15, you should tell the sponsor which year (the current year or the previous year) the contribution is for. Irs gov 1040x form If you do not tell the sponsor which year it is for, the sponsor can assume, and report to the IRS, that the contribution is for the current year (the year the sponsor received it). Irs gov 1040x form Filing before a contribution is made. Irs gov 1040x form    You can file your return claiming a traditional IRA contribution before the contribution is actually made. Irs gov 1040x form Generally, the contribution must be made by the due date of your return, not including extensions. Irs gov 1040x form Contributions not required. Irs gov 1040x form   You do not have to contribute to your traditional IRA for every tax year, even if you can. Irs gov 1040x form How Much Can You Deduct? Generally, you can deduct the lesser of: The contributions to your traditional IRA for the year, or The general limit (or the Kay Bailey Hutchison Spousal IRA limit, if applicable) explained earlier under How Much Can Be Contributed . Irs gov 1040x form However, if you or your spouse was covered by an employer retirement plan, you may not be able to deduct this amount. Irs gov 1040x form See Limit if Covered by Employer Plan , later. Irs gov 1040x form You may be able to claim a credit for contributions to your traditional IRA. Irs gov 1040x form For more information, see chapter 4. Irs gov 1040x form Trustees' fees. Irs gov 1040x form   Trustees' administrative fees that are billed separately and paid in connection with your traditional IRA are not deductible as IRA contributions. Irs gov 1040x form However, they may be deductible as a miscellaneous itemized deduction on Schedule A (Form 1040). Irs gov 1040x form For information about miscellaneous itemized deductions, see Publication 529, Miscellaneous Deductions. Irs gov 1040x form Brokers' commissions. Irs gov 1040x form   These commissions are part of your IRA contribution and, as such, are deductible subject to the limits. Irs gov 1040x form Full deduction. Irs gov 1040x form   If neither you nor your spouse was covered for any part of the year by an employer retirement plan, you can take a deduction for total contributions to one or more of your traditional IRAs of up to the lesser of: $5,500 ($6,500 if you are age 50 or older), or 100% of your compensation. Irs gov 1040x form   This limit is reduced by any contributions made to a 501(c)(18) plan on your behalf. Irs gov 1040x form Kay Bailey Hutchison Spousal IRA. Irs gov 1040x form   In the case of a married couple with unequal compensation who file a joint return, the deduction for contributions to the traditional IRA of the spouse with less compensation is limited to the lesser of: $5,500 ($6,500 if the spouse with the lower compensation is age 50 or older), or The total compensation includible in the gross income of both spouses for the year reduced by the following three amounts. Irs gov 1040x form The IRA deduction for the year of the spouse with the greater compensation. Irs gov 1040x form Any designated nondeductible contribution for the year made on behalf of the spouse with the greater compensation. Irs gov 1040x form Any contributions for the year to a Roth IRA on behalf of the spouse with the greater compensation. Irs gov 1040x form   This limit is reduced by any contributions to a section 501(c)(18) plan on behalf of the spouse with the lesser compensation. Irs gov 1040x form Note. Irs gov 1040x form If you were divorced or legally separated (and did not remarry) before the end of the year, you cannot deduct any contributions to your spouse's IRA. Irs gov 1040x form After a divorce or legal separation, you can deduct only the contributions to your own IRA. Irs gov 1040x form Your deductions are subject to the rules for single individuals. Irs gov 1040x form Covered by an employer retirement plan. Irs gov 1040x form   If you or your spouse was covered by an employer retirement plan at any time during the year for which contributions were made, your deduction may be further limited. Irs gov 1040x form This is discussed later under Limit if Covered by Employer Plan . Irs gov 1040x form Limits on the amount you can deduct do not affect the amount that can be contributed. Irs gov 1040x form Are You Covered by an Employer Plan? The Form W-2 you receive from your employer has a box used to indicate whether you were covered for the year. Irs gov 1040x form The “Retirement Plan” box should be checked if you were covered. Irs gov 1040x form Reservists and volunteer firefighters should also see Situations in Which You Are Not Covered , later. Irs gov 1040x form If you are not certain whether you were covered by your employer's retirement plan, you should ask your employer. Irs gov 1040x form Federal judges. Irs gov 1040x form   For purposes of the IRA deduction, federal judges are covered by an employer plan. Irs gov 1040x form For Which Year(s) Are You Covered? Special rules apply to determine the tax years for which you are covered by an employer plan. Irs gov 1040x form These rules differ depending on whether the plan is a defined contribution plan or a defined benefit plan. Irs gov 1040x form Tax year. Irs gov 1040x form   Your tax year is the annual accounting period you use to keep records and report income and expenses on your income tax return. Irs gov 1040x form For almost all people, the tax year is the calendar year. Irs gov 1040x form Defined contribution plan. Irs gov 1040x form   Generally, you are covered by a defined contribution plan for a tax year if amounts are contributed or allocated to your account for the plan year that ends with or within that tax year. Irs gov 1040x form However, also see Situations in Which You Are Not Covered , later. Irs gov 1040x form   A defined contribution plan is a plan that provides for a separate account for each person covered by the plan. Irs gov 1040x form In a defined contribution plan, the amount to be contributed to each participant's account is spelled out in the plan. Irs gov 1040x form The level of benefits actually provided to a participant depends on the total amount contributed to that participant's account and any earnings and losses on those contributions. Irs gov 1040x form Types of defined contribution plans include profit-sharing plans, stock bonus plans, and money purchase pension plans. Irs gov 1040x form Example. Irs gov 1040x form Company A has a money purchase pension plan. Irs gov 1040x form Its plan year is from July 1 to June 30. Irs gov 1040x form The plan provides that contributions must be allocated as of June 30. Irs gov 1040x form Bob, an employee, leaves Company A on December 31, 2012. Irs gov 1040x form The contribution for the plan year ending on June 30, 2013, is made February 15, 2014. Irs gov 1040x form Because an amount is contributed to Bob's account for the plan year, Bob is covered by the plan for his 2013 tax year. Irs gov 1040x form   A special rule applies to certain plans in which it is not possible to determine if an amount will be contributed to your account for a given plan year. Irs gov 1040x form If, for a plan year, no amounts have been allocated to your account that are attributable to employer contributions, employee contributions, or forfeitures, by the last day of the plan year, and contributions are discretionary for the plan year, you are not covered for the tax year in which the plan year ends. Irs gov 1040x form If, after the plan year ends, the employer makes a contribution for that plan year, you are covered for the tax year in which the contribution is made. Irs gov 1040x form Example. Irs gov 1040x form Mickey was covered by a profit-sharing plan and left the company on December 31, 2012. Irs gov 1040x form The plan year runs from July 1 to June 30. Irs gov 1040x form Under the terms of the plan, employer contributions do not have to be made, but if they are made, they are contributed to the plan before the due date for filing the company's tax return. Irs gov 1040x form Such contributions are allocated as of the last day of the plan year, and allocations are made to the accounts of individuals who have any service during the plan year. Irs gov 1040x form As of June 30, 2013, no contributions were made that were allocated to the June 30, 2013, plan year, and no forfeitures had been allocated within the plan year. Irs gov 1040x form In addition, as of that date, the company was not obligated to make a contribution for such plan year and it was impossible to determine whether or not a contribution would be made for the plan year. Irs gov 1040x form On December 31, 2013, the company decided to contribute to the plan for the plan year ending June 30, 2013. Irs gov 1040x form That contribution was made on February 15, 2014. Irs gov 1040x form Mickey is an active participant in the plan for his 2014 tax year but not for his 2013 tax year. Irs gov 1040x form No vested interest. Irs gov 1040x form   If an amount is allocated to your account for a plan year, you are covered by that plan even if you have no vested interest in (legal right to) the account. Irs gov 1040x form Defined benefit plan. Irs gov 1040x form   If you are eligible to participate in your employer's defined benefit plan for the plan year that ends within your tax year, you are covered by the plan. Irs gov 1040x form This rule applies even if you: Declined to participate in the plan, Did not make a required contribution, or Did not perform the minimum service required to accrue a benefit for the year. Irs gov 1040x form   A defined benefit plan is any plan that is not a defined contribution plan. Irs gov 1040x form In a defined benefit plan, the level of benefits to be provided to each participant is spelled out in the plan. Irs gov 1040x form The plan administrator figures the amount needed to provide those benefits and those amounts are contributed to the plan. Irs gov 1040x form Defined benefit plans include pension plans and annuity plans. Irs gov 1040x form Example. Irs gov 1040x form Nick, an employee of Company B, is eligible to participate in Company B's defined benefit plan, which has a July 1 to June 30 plan year. Irs gov 1040x form Nick leaves Company B on December 31, 2012. Irs gov 1040x form Because Nick is eligible to participate in the plan for its year ending June 30, 2013, he is covered by the plan for his 2013 tax year. Irs gov 1040x form No vested interest. Irs gov 1040x form   If you accrue a benefit for a plan year, you are covered by that plan even if you have no vested interest in (legal right to) the accrual. Irs gov 1040x form Situations in Which You Are Not Covered Unless you are covered by another employer plan, you are not covered by an employer plan if you are in one of the situations described below. Irs gov 1040x form Social security or railroad retirement. Irs gov 1040x form   Coverage under social security or railroad retirement is not coverage under an employer retirement plan. Irs gov 1040x form Benefits from previous employer's plan. Irs gov 1040x form   If you receive retirement benefits from a previous employer's plan, you are not covered by that plan. Irs gov 1040x form Reservists. Irs gov 1040x form   If the only reason you participate in a plan is because you are a member of a reserve unit of the Armed Forces, you may not be covered by the plan. Irs gov 1040x form You are not covered by the plan if both of the following conditions are met. Irs gov 1040x form The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Irs gov 1040x form You did not serve more than 90 days on active duty during the year (not counting duty for training). Irs gov 1040x form Volunteer firefighters. Irs gov 1040x form   If the only reason you participate in a plan is because you are a volunteer firefighter, you may not be covered by the plan. Irs gov 1040x form You are not covered by the plan if both of the following conditions are met. Irs gov 1040x form The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Irs gov 1040x form Your accrued retirement benefits at the beginning of the year will not provide more than $1,800 per year at retirement. Irs gov 1040x form Limit if Covered by Employer Plan As discussed earlier, the deduction you can take for contributions made to your traditional IRA depends on whether you or your spouse was covered for any part of the year by an employer retirement plan. Irs gov 1040x form Your deduction is also affected by how much income you had and by your filing status. Irs gov 1040x form Your deduction may also be affected by social security benefits you received. Irs gov 1040x form Reduced or no deduction. Irs gov 1040x form   If either you or your spouse was covered by an employer retirement plan, you may be entitled to only a partial (reduced) deduction or no deduction at all, depending on your income and your filing status. Irs gov 1040x form   Your deduction begins to decrease (phase out) when your income rises above a certain amount and is eliminated altogether when it reaches a higher amount. Irs gov 1040x form These amounts vary depending on your filing status. Irs gov 1040x form   To determine if your deduction is subject to the phaseout, you must determine your modified adjusted gross income (AGI) and your filing status, as explained later under Deduction Phaseout . Irs gov 1040x form Once you have determined your modified AGI and your filing status, you can use Table 1-2 or Table 1-3 to determine if the phaseout applies. Irs gov 1040x form Social Security Recipients Instead of using Table 1-2 or Table 1-3 and Worksheet 1-2, Figuring Your Reduced IRA Deduction for 2013, later, complete the worksheets in Appendix B of this publication if, for the year, all of the following apply. Irs gov 1040x form You received social security benefits. Irs gov 1040x form You received taxable compensation. Irs gov 1040x form Contributions were made to your traditional IRA. Irs gov 1040x form You or your spouse was covered by an employer retirement plan. Irs gov 1040x form Use the worksheets in Appendix B to figure your IRA deduction, your nondeductible contribution, and the taxable portion, if any, of your social security benefits. Irs gov 1040x form Appendix B includes an example with filled-in worksheets to assist you. Irs gov 1040x form Table 1-2. Irs gov 1040x form Effect of Modified AGI1 on Deduction if You Are Covered by a Retirement Plan at Work If you are covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Irs gov 1040x form IF your filing status is . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your modified adjusted gross income (modified AGI) is . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form THEN you can take . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form single or head of household $59,000 or less a full deduction. Irs gov 1040x form more than $59,000 but less than $69,000 a partial deduction. Irs gov 1040x form $69,000 or more no deduction. Irs gov 1040x form married filing jointly or  qualifying widow(er) $95,000 or less a full deduction. Irs gov 1040x form more than $95,000 but less than $115,000 a partial deduction. Irs gov 1040x form $115,000 or more no deduction. Irs gov 1040x form married filing separately2 less than $10,000 a partial deduction. Irs gov 1040x form $10,000 or more no deduction. Irs gov 1040x form 1 Modified AGI (adjusted gross income). Irs gov 1040x form See Modified adjusted gross income (AGI) , later. Irs gov 1040x form  2 If you did not live with your spouse at any time during the year, your filing status is considered Single for this purpose (therefore, your IRA deduction is determined under the “Single” filing status). Irs gov 1040x form Table 1-3. Irs gov 1040x form Effect of Modified AGI1 on Deduction if You Are NOT Covered by a Retirement Plan at Work If you are not covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Irs gov 1040x form IF your filing status is . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your modified adjusted gross income (modified AGI) is . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form THEN you can take . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form single, head of household, or qualifying widow(er) any amount a full deduction. Irs gov 1040x form married filing jointly or separately with a spouse who is not covered by a plan at work any amount a full deduction. Irs gov 1040x form married filing jointly with a spouse who is covered by a plan at work $178,000 or less a full deduction. Irs gov 1040x form more than $178,000 but less than $188,000 a partial deduction. Irs gov 1040x form $188,000 or more no deduction. Irs gov 1040x form married filing separately with a spouse who is covered by a plan at work2 less than $10,000 a partial deduction. Irs gov 1040x form $10,000 or more no deduction. Irs gov 1040x form 1 Modified AGI (adjusted gross income). Irs gov 1040x form See Modified adjusted gross income (AGI) , later. Irs gov 1040x form  2 You are entitled to the full deduction if you did not live with your spouse at any time during the year. Irs gov 1040x form For 2014, if you are not covered by a retirement plan at work and you are married filing jointly with a spouse who is covered by a plan at work, your deduction is phased out if your modified AGI is more than $181,000 but less than $191,000. Irs gov 1040x form If your AGI is $191,000 or more, you cannot take a deduction for a contribution to a traditional IRA. Irs gov 1040x form Deduction Phaseout The amount of any reduction in the limit on your IRA deduction (phaseout) depends on whether you or your spouse was covered by an employer retirement plan. Irs gov 1040x form Covered by a retirement plan. Irs gov 1040x form   If you are covered by an employer retirement plan and you did not receive any social security retirement benefits, your IRA deduction may be reduced or eliminated depending on your filing status and modified AGI, as shown in Table 1-2. Irs gov 1040x form For 2014, if you are covered by a retirement plan at work, your IRA deduction will not be reduced (phased out) unless your modified AGI is: More than $60,000 but less than $70,000 for a single individual (or head of household), More than $96,000 but less than $116,000 for a married couple filing a joint return (or a qualifying widow(er)), or Less than $10,000 for a married individual filing a separate return. Irs gov 1040x form If your spouse is covered. Irs gov 1040x form   If you are not covered by an employer retirement plan, but your spouse is, and you did not receive any social security benefits, your IRA deduction may be reduced or eliminated entirely depending on your filing status and modified AGI as shown in Table 1-3. Irs gov 1040x form Filing status. Irs gov 1040x form   Your filing status depends primarily on your marital status. Irs gov 1040x form For this purpose, you need to know if your filing status is single or head of household, married filing jointly or qualifying widow(er), or married filing separately. Irs gov 1040x form If you need more information on filing status, see Publication 501, Exemptions, Standard Deduction, and Filing Information. Irs gov 1040x form Lived apart from spouse. Irs gov 1040x form   If you did not live with your spouse at any time during the year and you file a separate return, your filing status, for this purpose, is single. Irs gov 1040x form Modified adjusted gross income (AGI). Irs gov 1040x form   You can use Worksheet 1-1 to figure your modified AGI. Irs gov 1040x form If you made contributions to your IRA for 2013 and received a distribution from your IRA in 2013, see Both contributions for 2013 and distributions in 2013 , later. Irs gov 1040x form    Do not assume that your modified AGI is the same as your compensation. Irs gov 1040x form Your modified AGI may include income in addition to your compensation (discussed earlier) such as interest, dividends, and income from IRA distributions. Irs gov 1040x form Form 1040. Irs gov 1040x form   If you file Form 1040, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following amounts. Irs gov 1040x form IRA deduction. Irs gov 1040x form Student loan interest deduction. Irs gov 1040x form Tuition and fees deduction. Irs gov 1040x form Domestic production activities deduction. Irs gov 1040x form Foreign earned income exclusion. Irs gov 1040x form Foreign housing exclusion or deduction. Irs gov 1040x form Exclusion of qualified savings bond interest shown on Form 8815. Irs gov 1040x form Exclusion of employer-provided adoption benefits shown on Form 8839. Irs gov 1040x form This is your modified AGI. Irs gov 1040x form Form 1040A. Irs gov 1040x form   If you file Form 1040A, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following amounts. Irs gov 1040x form IRA deduction. Irs gov 1040x form Student loan interest deduction. Irs gov 1040x form Tuition and fees deduction. Irs gov 1040x form Exclusion of qualified savings bond interest shown on Form 8815. Irs gov 1040x form This is your modified AGI. Irs gov 1040x form Form 1040NR. Irs gov 1040x form   If you file Form 1040NR, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following amounts. Irs gov 1040x form IRA deduction. Irs gov 1040x form Student loan interest deduction. Irs gov 1040x form Domestic production activities deduction. Irs gov 1040x form Exclusion of qualified savings bond interest shown on Form 8815. Irs gov 1040x form Exclusion of employer-provided adoption benefits shown on Form 8839. Irs gov 1040x form This is your modified AGI. Irs gov 1040x form Income from IRA distributions. Irs gov 1040x form   If you received distributions in 2013 from one or more traditional IRAs and your traditional IRAs include only deductible contributions, the distributions are fully taxable and are included in your modified AGI. Irs gov 1040x form Both contributions for 2013 and distributions in 2013. Irs gov 1040x form   If all three of the following apply, any IRA distributions you received in 2013 may be partly tax free and partly taxable. Irs gov 1040x form You received distributions in 2013 from one or more traditional IRAs, You made contributions to a traditional IRA for 2013, and Some of those contributions may be nondeductible contributions. Irs gov 1040x form (See Nondeductible Contributions and Worksheet 1-2, later. Irs gov 1040x form ) If this is your situation, you must figure the taxable part of the traditional IRA distribution before you can figure your modified AGI. Irs gov 1040x form To do this, you can use Worksheet 1-5, later. Irs gov 1040x form   If at least one of the above does not apply, figure your modified AGI using Worksheet 1-1, later. Irs gov 1040x form How To Figure Your Reduced IRA Deduction If you or your spouse is covered by an employer retirement plan and you did not receive any social security benefits, you can figure your reduced IRA deduction by using Worksheet 1-2. Irs gov 1040x form Figuring Your Reduced IRA Deduction for 2013. Irs gov 1040x form The Instructions for Form 1040, Form 1040A, and Form 1040NR include similar worksheets that you can use instead of the worksheet in this publication. Irs gov 1040x form If you or your spouse is covered by an employer retirement plan, and you received any social security benefits, see Social Security Recipients , earlier. Irs gov 1040x form Note. Irs gov 1040x form If you were married and both you and your spouse contributed to IRAs, figure your deduction and your spouse's deduction separately. Irs gov 1040x form Worksheet 1-1. Irs gov 1040x form Figuring Your Modified AGI Use this worksheet to figure your modified AGI for traditional IRA purposes. Irs gov 1040x form 1. Irs gov 1040x form Enter your adjusted gross income (AGI) from Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 37, figured without taking into account the amount from Form 1040, line 32; Form 1040A, line 17; or Form 1040NR, line 32 1. Irs gov 1040x form   2. Irs gov 1040x form Enter any student loan interest deduction from Form 1040, line 33; Form 1040A, line 18; or Form 1040NR, line 33 2. Irs gov 1040x form   3. Irs gov 1040x form Enter any tuition and fees deduction from Form 1040, line 34, or Form 1040A, line 19 3. Irs gov 1040x form   4. Irs gov 1040x form Enter any domestic production activities deduction from Form 1040, line 35, or Form 1040NR, line 34 4. Irs gov 1040x form   5. Irs gov 1040x form Enter any foreign earned income exclusion and/or housing exclusion from Form 2555, line 45, or Form 2555-EZ, line 18 5. Irs gov 1040x form   6. Irs gov 1040x form Enter any foreign housing deduction from Form 2555, line 50 6. Irs gov 1040x form   7. Irs gov 1040x form Enter any excludable savings bond interest from Form 8815, line 14 7. Irs gov 1040x form   8. Irs gov 1040x form Enter any excluded employer-provided adoption benefits from Form 8839, line 28 8. Irs gov 1040x form   9. Irs gov 1040x form Add lines 1 through 8. Irs gov 1040x form This is your Modified AGI for traditional IRA purposes 9. Irs gov 1040x form   Reporting Deductible Contributions If you file Form 1040, enter your IRA deduction on line 32 of that form. Irs gov 1040x form If you file Form 1040A, enter your IRA deduction on line 17 of that form. Irs gov 1040x form If you file Form 1040NR, enter your IRA deduction on line 32 of that form. Irs gov 1040x form You cannot deduct IRA contributions on Form 1040EZ or Form 1040NR-EZ. Irs gov 1040x form Self-employed. Irs gov 1040x form   If you are self-employed (a sole proprietor or partner) and have a SIMPLE IRA, enter your deduction for allowable plan contributions on Form 1040, line 28. Irs gov 1040x form If you file Form 1040NR, enter your deduction on line 28 of that form. Irs gov 1040x form Nondeductible Contributions Although your deduction for IRA contributions may be reduced or eliminated, contributions can be made to your IRA of up to the general limit or, if it applies, the Kay Bailey Hutchison Spousal IRA limit. Irs gov 1040x form The difference between your total permitted contributions and your IRA deduction, if any, is your nondeductible contribution. Irs gov 1040x form Example. Irs gov 1040x form Tony is 29 years old and single. Irs gov 1040x form In 2013, he was covered by a retirement plan at work. Irs gov 1040x form His salary is $62,000. Irs gov 1040x form His modified AGI is $70,000. Irs gov 1040x form Tony makes a $5,500 IRA contribution for 2013. Irs gov 1040x form Because he was covered by a retirement plan and his modified AGI is above $69,000, he cannot deduct his $5,500 IRA contribution. Irs gov 1040x form He must designate this contribution as a nondeductible contribution by reporting it on Form 8606. Irs gov 1040x form Repayment of reservist distributions. Irs gov 1040x form   Nondeductible contributions may include repayments of qualified reservist distributions. Irs gov 1040x form For more information, see Qualified reservist repayments under How Much Can Be Contributed, earlier. Irs gov 1040x form Form 8606. Irs gov 1040x form   To designate contributions as nondeductible, you must file Form 8606. Irs gov 1040x form (See the filled-in Forms 8606 in this chapter. Irs gov 1040x form )   You do not have to designate a contribution as nondeductible until you file your tax return. Irs gov 1040x form When you file, you can even designate otherwise deductible contributions as nondeductible contributions. Irs gov 1040x form   You must file Form 8606 to report nondeductible contributions even if you do not have to file a tax return for the year. Irs gov 1040x form    A Form 8606 is not used for the year that you make a rollover from a qualified retirement plan to a traditional IRA and the rollover includes nontaxable amounts. Irs gov 1040x form In those situations, a Form 8606 is completed for the year you take a distribution from that IRA. Irs gov 1040x form See Form 8606 under Distributions Fully or Partly Taxable, later. Irs gov 1040x form Failure to report nondeductible contributions. Irs gov 1040x form   If you do not report nondeductible contributions, all of the contributions to your traditional IRA will be treated like deductible contributions when withdrawn. Irs gov 1040x form All distributions from your IRA will be taxed unless you can show, with satisfactory evidence, that nondeductible contributions were made. Irs gov 1040x form Penalty for overstatement. Irs gov 1040x form   If you overstate the amount of nondeductible contributions on your Form 8606 for any tax year, you must pay a penalty of $100 for each overstatement, unless it was due to reasonable cause. Irs gov 1040x form Penalty for failure to file Form 8606. Irs gov 1040x form   You will have to pay a $50 penalty if you do not file a required Form 8606, unless you can prove that the failure was due to reasonable cause. Irs gov 1040x form Tax on earnings on nondeductible contributions. Irs gov 1040x form   As long as contributions are within the contribution limits, none of the earnings or gains on contributions (deductible or nondeductible) will be taxed until they are distributed. Irs gov 1040x form Cost basis. Irs gov 1040x form   You will have a cost basis in your traditional IRA if you made any nondeductible contributions. Irs gov 1040x form Your cost basis is the sum of the nondeductible contributions to your IRA minus any withdrawals or distributions of nondeductible contributions. Irs gov 1040x form    Commonly, distributions from your traditional IRAs will include both taxable and nontaxable (cost basis) amounts. Irs gov 1040x form See Are Distributions Taxable, later, for more information. Irs gov 1040x form Recordkeeping. Irs gov 1040x form There is a recordkeeping worksheet, Appendix A. Irs gov 1040x form Summary Record of Traditional IRA(s) for 2013 , that you can use to keep a record of deductible and nondeductible IRA contributions. Irs gov 1040x form Examples — Worksheet for Reduced IRA Deduction for 2013 The following examples illustrate the use of Worksheet 1-2, Figuring Your Reduced IRA Deduction for 2013. Irs gov 1040x form Example 1. Irs gov 1040x form For 2013, Tom and Betty file a joint return on Form 1040. Irs gov 1040x form They are both 39 years old. Irs gov 1040x form They are both employed and Tom is covered by his employer's retirement plan. Irs gov 1040x form Tom's salary is $59,000 and Betty's is $32,555. Irs gov 1040x form They each have a traditional IRA and their combined modified AGI, which includes $5,000 interest and dividend income, is $96,555. Irs gov 1040x form Because their modified AGI is between $95,000 and $115,000 and Tom is covered by an employer plan, Tom is subject to the deduction phaseout discussed earlier under Limit if Covered by Employer Plan . Irs gov 1040x form For 2013, Tom contributed $5,500 to his IRA and Betty contributed $5,500 to hers. Irs gov 1040x form Even though they file a joint return, they must use separate worksheets to figure the IRA deduction for each of them. Irs gov 1040x form Tom can take a deduction of only $5,080. Irs gov 1040x form He can choose to treat the $5,080 as either deductible or nondeductible contributions. Irs gov 1040x form He can either leave the $420 ($5,500 − $5,080) of nondeductible contributions in his IRA or withdraw them by April 15, 2014. Irs gov 1040x form He decides to treat the $5,080 as deductible contributions and leave the $420 of nondeductible contributions in his IRA. Irs gov 1040x form Using Worksheet 1-2, Figuring Your Reduced IRA Deduction for 2013, Tom figures his deductible and nondeductible amounts as shown on Worksheet 1-2. Irs gov 1040x form Figuring Your Reduced IRA Deduction for 2013—Example 1 Illustrated. Irs gov 1040x form Betty figures her IRA deduction as follows. Irs gov 1040x form Betty can treat all or part of her contributions as either deductible or nondeductible. Irs gov 1040x form This is because her $5,500 contribution for 2013 is not subject to the deduction phaseout discussed earlier under Limit if Covered by Employer Plan . Irs gov 1040x form She does not need to use Worksheet 1-2, Figuring Your Reduced IRA Deduction for 2013, because their modified AGI is not within the phaseout range that applies. Irs gov 1040x form Betty decides to treat her $5,500 IRA contributions as deductible. Irs gov 1040x form The IRA deductions of $5,080 and $5,500 on the joint return for Tom and Betty total $10,580. Irs gov 1040x form Example 2. Irs gov 1040x form For 2013, Ed and Sue file a joint return on Form 1040. Irs gov 1040x form They are both 39 years old. Irs gov 1040x form Ed is covered by his employer's retirement plan. Irs gov 1040x form Ed's salary is $45,000. Irs gov 1040x form Sue had no compensation for the year and did not contribute to an IRA. Irs gov 1040x form Sue is not covered by an employer plan. Irs gov 1040x form Ed contributed $5,500 to his traditional IRA and $5,500 to a traditional IRA for Sue (a Kay Bailey Hutchison Spousal IRA). Irs gov 1040x form Their combined modified AGI, which includes $2,000 interest and dividend income and a large capital gain from the sale of stock, is $180,555. Irs gov 1040x form Because the combined modified AGI is $115,000 or more, Ed cannot deduct any of the contribution to his traditional IRA. Irs gov 1040x form He can either leave the $5,500 of nondeductible contributions in his IRA or withdraw them by April 15, 2014. Irs gov 1040x form Sue figures her IRA deduction as shown on Worksheet 1-2. Irs gov 1040x form Figuring Your Reduced IRA Deduction for 2013—Example 2 Illustrated. Irs gov 1040x form Worksheet 1-2. Irs gov 1040x form Figuring Your Reduced IRA Deduction for 2013 (Use only if you or your spouse is covered by an employer plan and your modified AGI falls between the two amounts shown below for your coverage situation and filing status. Irs gov 1040x form ) Note. Irs gov 1040x form If you were married and both you and your spouse contributed to IRAs, figure your deduction and your spouse's deduction separately. Irs gov 1040x form IF you . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your  filing status is . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your modified AGI is over . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form THEN enter on  line 1 below . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form       are covered by an employer plan single or head of household $59,000 $69,000     married filing jointly or qualifying widow(er) $95,000 $115,000     married filing separately $0 $10,000     are not covered by an employer plan, but your spouse is covered married filing jointly $178,000 $188,000     married filing separately $0 $10,000     1. Irs gov 1040x form Enter applicable amount from table above 1. Irs gov 1040x form   2. Irs gov 1040x form Enter your modified AGI (that of both spouses, if married filing jointly) 2. Irs gov 1040x form     Note. Irs gov 1040x form If line 2 is equal to or more than the amount on line 1, stop here. Irs gov 1040x form  Your IRA contributions are not deductible. Irs gov 1040x form See Nondeductible Contributions , earlier. Irs gov 1040x form     3. Irs gov 1040x form Subtract line 2 from line 1. Irs gov 1040x form If line 3 is $10,000 or more ($20,000 or more if married filing jointly or qualifying widow(er) and you are covered by an employer plan), stop here. Irs gov 1040x form You can take a full IRA deduction for contributions of up to $5,500 ($6,500 if you are age 50 or older) or 100% of your (and if married filing jointly, your spouse's) compensation, whichever is less 3. Irs gov 1040x form   4. Irs gov 1040x form Multiply line 3 by the percentage below that applies to you. Irs gov 1040x form If the result is not a multiple of $10, round it to the next highest multiple of $10. Irs gov 1040x form (For example, $611. Irs gov 1040x form 40 is rounded to $620. Irs gov 1040x form ) However, if the result is less than $200, enter $200. Irs gov 1040x form         Married filing jointly or qualifying widow(er) and you are covered by an employer plan, multiply line 3 by 27. Irs gov 1040x form 5% (. Irs gov 1040x form 275) (by 32. Irs gov 1040x form 5% (. Irs gov 1040x form 325) if you are age 50 or older). Irs gov 1040x form All others, multiply line 3 by 55% (. Irs gov 1040x form 55) (by 65% (. Irs gov 1040x form 65) if you are age 50 or older). Irs gov 1040x form 4. Irs gov 1040x form   5. Irs gov 1040x form Enter your compensation minus any deductions on Form 1040 or Form 1040NR, line 27 (deductible part of self-employment tax) and line 28 (self-employed SEP, SIMPLE, and qualified plans). Irs gov 1040x form If you are filing a joint return and your compensation is less than your spouse's, include your spouse's compensation reduced by his or her traditional IRA and Roth IRA contributions for this year. Irs gov 1040x form If you file Form 1040 or Form 1040NR, do not reduce your compensation by any losses from self-employment 5. Irs gov 1040x form   6. Irs gov 1040x form Enter contributions made, or to be made, to your IRA for 2013, but do not enter more than $5,500 ($6,500 if you are age 50 or older). Irs gov 1040x form If contributions are more than $5,500 ($6,500 if you are age 50 or older), see Excess Contributions , later. Irs gov 1040x form 6. Irs gov 1040x form   7. Irs gov 1040x form IRA deduction. Irs gov 1040x form Compare lines 4, 5, and 6. Irs gov 1040x form Enter the smallest amount (or a smaller amount if you choose) here and on the Form 1040, 1040A, or 1040NR line for your IRA, whichever applies. Irs gov 1040x form If line 6 is more than line 7 and you want to make a nondeductible contribution, go to line 8 7. Irs gov 1040x form   8. Irs gov 1040x form Nondeductible contribution. Irs gov 1040x form Subtract line 7 from line 5 or 6, whichever is smaller. Irs gov 1040x form  Enter the result here and on line 1 of your Form 8606 8. Irs gov 1040x form   Worksheet 1-2. Irs gov 1040x form Figuring Your Reduced IRA Deduction for 2013—Example 1 Illustrated (Use only if you or your spouse is covered by an employer plan and your modified AGI falls between the two amounts shown below for your coverage situation and filing status. Irs gov 1040x form ) Note. Irs gov 1040x form If you were married and both you and your spouse contributed to IRAs, figure your deduction and your spouse's deduction separately. Irs gov 1040x form IF you . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your  filing status is . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your modified AGI is over . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form THEN enter on  line 1 below . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form       are covered by an employer plan single or head of household $59,000 $69,000     married filing jointly or qualifying widow(er) $95,000 $115,000     married filing separately $0 $10,000     are not covered by an employer plan, but your spouse is covered married filing jointly $178,000 $188,000     married filing separately $0 $10,000     1. Irs gov 1040x form Enter applicable amount from table above 1. Irs gov 1040x form 115,000 2. Irs gov 1040x form Enter your modified AGI (that of both spouses, if married filing jointly) 2. Irs gov 1040x form 96,555   Note. Irs gov 1040x form If line 2 is equal to or more than the amount on line 1, stop here. Irs gov 1040x form  Your IRA contributions are not deductible. Irs gov 1040x form See Nondeductible Contributions , earlier. Irs gov 1040x form     3. Irs gov 1040x form Subtract line 2 from line 1. Irs gov 1040x form If line 3 is $10,000 or more ($20,000 or more if married filing jointly or qualifying widow(er) and you are covered by an employer plan), stop here. Irs gov 1040x form You can take a full IRA deduction for contributions of up to $5,500 ($6,500 if you are age 50 or older) or 100% of your (and if married filing jointly, your spouse's) compensation, whichever is less 3. Irs gov 1040x form 18,445 4. Irs gov 1040x form Multiply line 3 by the percentage below that applies to you. Irs gov 1040x form If the result is not a multiple of $10, round it to the next highest multiple of $10. Irs gov 1040x form (For example, $611. Irs gov 1040x form 40 is rounded to $620. Irs gov 1040x form ) However, if the result is less than $200, enter $200. Irs gov 1040x form         Married filing jointly or qualifying widow(er) and you are covered by an employer plan, multiply line 3 by 27. Irs gov 1040x form 5% (. Irs gov 1040x form 275) (by 32. Irs gov 1040x form 5% (. Irs gov 1040x form 325) if you are age 50 or older). Irs gov 1040x form All others, multiply line 3 by 55% (. Irs gov 1040x form 55) (by 65% (. Irs gov 1040x form 65) if you are age 50 or older). Irs gov 1040x form 4. Irs gov 1040x form 5,080 5. Irs gov 1040x form Enter your compensation minus any deductions on Form 1040 or Form 1040NR, line 27 (deductible part of self-employment tax) and line 28 (self-employed SEP, SIMPLE, and qualified plans). Irs gov 1040x form If you are filing a joint return and your compensation is less than your spouse's, include your spouse's compensation reduced by his or her traditional IRA and Roth IRA contributions for this year. Irs gov 1040x form If you file Form 1040 or Form 1040NR, do not reduce your compensation by any losses from self-employment 5. Irs gov 1040x form 59,000 6. Irs gov 1040x form Enter contributions made, or to be made, to your IRA for 2013, but do not enter more than $5,500 ($6,500 if you are age 50 or older). Irs gov 1040x form If contributions are more than $5,500 ($6,500 if you are age 50 or older), see Excess Contributions , later. Irs gov 1040x form 6. Irs gov 1040x form 5,500 7. Irs gov 1040x form IRA deduction. Irs gov 1040x form Compare lines 4, 5, and 6. Irs gov 1040x form Enter the smallest amount (or a smaller amount if you choose) here and on the Form 1040, 1040A, or 1040NR line for your IRA, whichever applies. Irs gov 1040x form If line 6 is more than line 7 and you want to make a nondeductible contribution, go to line 8 7. Irs gov 1040x form 5,080 8. Irs gov 1040x form Nondeductible contribution. Irs gov 1040x form Subtract line 7 from line 5 or 6, whichever is smaller. Irs gov 1040x form  Enter the result here and on line 1 of your Form 8606 8. Irs gov 1040x form 420 Worksheet 1-2. Irs gov 1040x form Figuring Your Reduced IRA Deduction for 2013—Example 2 Illustrated (Use only if you or your spouse is covered by an employer plan and your modified AGI falls between the two amounts shown below for your coverage situation and filing status. Irs gov 1040x form ) Note. Irs gov 1040x form If you were married and both you and your spouse contributed to IRAs, figure your deduction and your spouse's deduction separately. Irs gov 1040x form IF you . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your  filing status is . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form AND your modified AGI is over . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form THEN enter on  line 1 below . Irs gov 1040x form . Irs gov 1040x form . Irs gov 1040x form       are covered by an employer plan single or head of household $59,000 $69,000     married filing jointly or qualifying widow(er) $95,000 $115,000     married filing separately $0 $10,000     are not covered by an employer plan, but your spouse is covered married filing jointly $178,000 $188,000     married filing separately $0 $10,000     1. Irs gov 1040x form Enter applicable amount from table above 1. Irs gov 1040x form 188,000 2. Irs gov 1040x form Enter your modified AGI (that of both spouses, if married filing jointly) 2. Irs gov 1040x form 180,555   Note. Irs gov 1040x form If line 2 is equal to or more than the amount on line 1, stop here. Irs gov 1040x form  Your IRA contributions are not deductible. Irs gov 1040x form See Nondeductible Contributions , earlier. Irs gov 1040x form     3. Irs gov 1040x form Subtract line 2 from line 1. Irs gov 1040x form If line 3 is $10,000 or more ($20,000 or more if married filing jointly or qualifying widow(er) and you are covered by an employer plan), stop here. Irs gov 1040x form You can take a full IRA deduction for contributions of up to $5,500 ($6,500 if you are age 50 or older) or 100% of your (and if married filing jointly, your spouse's) compensation, whichever is less 3. Irs gov 1040x form 7,445 4. Irs gov 1040x form Multiply line 3 by the percentage below that applies to you. Irs gov 1040x form If the result is not a multiple of $10, round it to the next highest multiple of $10. Irs gov 1040x form (For example, $611. Irs gov 1040x form 40 is rounded to $620. Irs gov 1040x form ) However, if the result is less than $200, enter $200. Irs gov 1040x form         Married filing jointly or qualifying widow(er) and you are covered by an employer plan, multiply line 3 by 27. Irs gov 1040x form 5% (. Irs gov 1040x form 275) (by 32. Irs gov 1040x form 5% (. Irs gov 1040x form 325) if you are age 50 or older). Irs gov 1040x form All others, multiply line 3 by 55% (. Irs gov 1040x form 55) (by 65% (. Irs gov 1040x form 65) if you are age 50 or older). Irs gov 1040x form 4. Irs gov 1040x form 4,100 5. Irs gov 1040x form Enter your compensation minus any deductions on Form 1040 or Form 1040NR, line 27 (deductible part of self-employment tax) and line 28 (self-employed SEP, SIMPLE, and qualified plans). Irs gov 1040x form If you are filing a joint return and your compensation is less than your spouse's, include your spouse's compensation reduced by his or her traditional IRA and Roth IRA contributions for this year. Irs gov 1040x form If you file Form 1040 or Form 1040NR, do not reduce your compensation by any losses from self-employment 5. Irs gov 1040x form 39,500 6. Irs gov 1040x form Enter contributions made, or to be made, to your IRA for 2013, but do not enter more than $5,500 ($6,500 if you are age 50 or older). Irs gov 1040x form If contributions are more than $5,500 ($6,500 if you are age 50 or older), see Excess Contributions , later. Irs gov 1040x form 6. Irs gov 1040x form 5,500 7. Irs gov 1040x form IRA deduction. Irs gov 1040x form Compare lines 4, 5, and 6. Irs gov 1040x form Enter the smallest amount (or a smaller amount if you choose) here and on the Form 1040, 1040A, or 1040NR line for your IRA, whichever applies. Irs gov 1040x form If line 6 is more than line 7 and you want to make a nondeductible contribution, go to line 8 7. Irs gov 1040x form 4,100 8. Irs gov 1040x form Nondeductible contribution. Irs gov 1040x form Subtract line 7 from line 5 or 6, whichever is smaller. Irs gov 1040x form  Enter the result here and on line 1 of your Form 8606 8. Irs gov 1040x form 1,400 What if You Inherit an IRA? If you inherit a traditional IRA, you are called a beneficiary. Irs gov 1040x form A beneficiary can be any person or entity the owner chooses to receive the benefits of the IRA after he or she dies. Irs gov 1040x form Beneficiaries of a traditional IRA must include in their gross income any taxable distributions they receive. Irs gov 1040x form Inherited from spouse. Irs gov 1040x form   If you inherit a traditional IRA from your spouse, you generally have the following three choices. Irs gov 1040x form You can: Treat it as your own IRA by designating yourself as the account owner. Irs gov 1040x form Treat it as your own by rolling it over into your IRA, or to the extent it is taxable, into a: Qualified employer plan, Qualified employee annuity plan (section 403(a) plan), Tax-sheltered annuity plan (s