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Tax Form 1040 Ez

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Tax Form 1040 Ez

Tax form 1040 ez 34. Tax form 1040 ez   Child Tax Credit Table of Contents Introduction Useful Items - You may want to see: Qualifying Child Amount of CreditLimits on the Credit Claiming the Credit Additional Child Tax Credit Completing Schedule 8812 (Form 1040A or 1040)Part I Parts II–IV Introduction The child tax credit is a credit that may reduce your tax by as much as $1,000 for each of your qualifying children. Tax form 1040 ez The additional child tax credit is a credit you may be able to take if you are not able to claim the full amount of the child tax credit. Tax form 1040 ez This chapter explains the following. Tax form 1040 ez Who is a qualifying child. Tax form 1040 ez The amount of the credit. Tax form 1040 ez How to claim the credit. Tax form 1040 ez The child tax credit and the additional child tax credit should not be confused with the child and dependent care credit discussed in chapter 32. Tax form 1040 ez If you have no tax. Tax form 1040 ez   Credits, such as the child tax credit or the credit for child and dependent care expenses, are used to reduce tax. Tax form 1040 ez If your tax on Form 1040, line 46, or Form 1040A, line 28, is zero, do not figure the child tax credit because there is no tax to reduce. Tax form 1040 ez However, you may qualify for the additional child tax credit on line 65 (Form 1040) or line 39 (Form 1040A). Tax form 1040 ez Useful Items - You may want to see: Publication 972 Child Tax Credit Form (and Instructions) Schedule 8812 (Form 1040A or 1040) Child Tax Credit W-4 Employee's Withholding Allowance Certificate Qualifying Child A qualifying child for purposes of the child tax credit is a child who: Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, or a descendant of any of them (for example, your grandchild, niece, or nephew), Was under age 17 at the end of 2013, Did not provide over half of his or her own support for 2013, Lived with you for more than half of 2013 (see Exceptions to time lived with you , later), Is claimed as a dependent on your return, Does not file a joint return for the year (or files it only as a claim for refund), and Was a U. Tax form 1040 ez S. Tax form 1040 ez citizen, a U. Tax form 1040 ez S. Tax form 1040 ez national, or a resident of the United States. Tax form 1040 ez If the child was adopted, see Adopted child , later. Tax form 1040 ez For each qualifying child you must check the box on Form 1040 or Form 1040A, line 6c. Tax form 1040 ez Example 1. Tax form 1040 ez Your son turned 17 on December 30, 2013. Tax form 1040 ez He is a citizen of the United States and you claimed him as a dependent on your return. Tax form 1040 ez He is not a qualifying child for the child tax credit because he was not under age 17 at the end of 2013. Tax form 1040 ez Example 2. Tax form 1040 ez Your daughter turned 8 years old in 2013. Tax form 1040 ez She is not a citizen of the United States, has an ITIN, and lived in Mexico all of 2013. Tax form 1040 ez She is not a qualifying child for the child tax credit because she was not a resident of the United States for 2013. Tax form 1040 ez Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN). Tax form 1040 ez   If you are claiming a child tax credit or additional child tax credit for a child you identified on your tax return with an ITIN instead of an SSN, you must complete Part I of Schedule 8812 (Form 1040A or 1040). Tax form 1040 ez   Although a child may be your dependent, you may only claim a child tax credit or additional child tax credit for a dependent who is a citizen, national, or resident of the United States. Tax form 1040 ez To be treated as a resident of the United States, a child generally will need to meet the requirements of the substantial presence test. Tax form 1040 ez For more information about the substantial presence test, see Publication 519, U. Tax form 1040 ez S. Tax form 1040 ez Tax Guide for Aliens. Tax form 1040 ez Adopted child. Tax form 1040 ez   An adopted child is always treated as your own child. Tax form 1040 ez An adopted child includes a child lawfully placed with you for legal adoption. Tax form 1040 ez   If you are a U. Tax form 1040 ez S. Tax form 1040 ez citizen or U. Tax form 1040 ez S. Tax form 1040 ez national and your adopted child lived with you all year as a member of your household in 2013, that child meets condition (7) above to be a qualifying child for the child tax credit. Tax form 1040 ez Exceptions to time lived with you. Tax form 1040 ez   A child is considered to have lived with you for more than half of 2013 if the child was born or died in 2013 and your home was this child's home for more than half the time he or she was alive. Tax form 1040 ez Temporary absences by you or the child for special circumstances, such as for school, vacation, business, medical care, military service, or detention in a juvenile facility, count as time the child lived with you. Tax form 1040 ez   There are also exceptions for kidnapped children and children of divorced or separated parents. Tax form 1040 ez For details, see Residency Test in chapter 3. Tax form 1040 ez Qualifying child of more than one person. Tax form 1040 ez   A special rule applies if your qualifying child is the qualifying child of more than one person. Tax form 1040 ez For details, see Special Rule for Qualifying Child of More Than One Person in chapter 3. Tax form 1040 ez Amount of Credit The maximum amount you can claim for the credit is $1,000 for each qualifying child. Tax form 1040 ez Limits on the Credit You must reduce your child tax credit if either (1) or (2) applies. Tax form 1040 ez The amount on Form 1040, line 46, or Form 1040A, line 28, is less than the credit. Tax form 1040 ez If this amount is zero, you cannot take this credit because there is no tax to reduce. Tax form 1040 ez But you may be able to take the additional child tax credit. Tax form 1040 ez See Additional Child Tax Credit , later. Tax form 1040 ez Your modified adjusted gross income (AGI) is more than the amount shown below for your filing status. Tax form 1040 ez Married filing jointly - $110,000. Tax form 1040 ez Single, head of household, or qualifying widow(er) - $75,000. Tax form 1040 ez Married filing separately - $55,000. Tax form 1040 ez Modified AGI. Tax form 1040 ez   For purposes of the child tax credit, your modified AGI is your AGI plus the following amounts that may apply to you. Tax form 1040 ez Any amount excluded from income because of the exclusion of income from  Puerto Rico. Tax form 1040 ez On the dotted line next to Form 1040, line 38, enter the amount excluded and identify it as “EPRI. Tax form 1040 ez ” Also attach a copy of any Form(s) 499R-2/W-2PR to your return. Tax form 1040 ez Any amount on line 45 or line 50 of Form 2555, Foreign Earned Income. Tax form 1040 ez Any amount on line 18 of Form 2555-EZ, Foreign Earned Income Exclusion. Tax form 1040 ez Any amount on line 15 of Form 4563, Exclusion of Income for Bona Fide Residents of American Samoa. Tax form 1040 ez   If you do not have any of the above, your modified AGI is the same as your AGI. Tax form 1040 ez AGI. Tax form 1040 ez   Your AGI is the amount on Form 1040, line 38, or Form 1040A, line 22. Tax form 1040 ez Claiming the Credit To claim the child tax credit, you must file Form 1040 or Form 1040A. Tax form 1040 ez You cannot claim the child tax credit on Form 1040EZ. Tax form 1040 ez You must provide the name and identification number (usually a social security number) on your tax return for each qualifying child. Tax form 1040 ez If you claim the child tax credit with a child identified by an ITIN, you must also file Schedule 8812. Tax form 1040 ez To figure your credit, first review the Child Tax Credit Worksheet in your Form 1040 or 1040A instructions. Tax form 1040 ez If you are instructed to use Publication 972, you may not use the worksheet in your tax return instructions; instead, you must use Publication 972 to figure the credit. Tax form 1040 ez If you are not instructed to use Publication 972, you may use the Child Tax Credit Worksheet in your Form 1040 or 1040A instructions or Publication 972 to figure the credit. Tax form 1040 ez Additional Child Tax Credit This credit is for certain individuals who get less than the full amount of the child tax credit. Tax form 1040 ez The additional child tax credit may give you a refund even if you do not owe any tax. Tax form 1040 ez How to claim the additional child tax credit. Tax form 1040 ez   To claim the additional child tax credit, follow the steps below. Tax form 1040 ez Make sure you figured the amount, if any, of your child tax credit. Tax form 1040 ez See Claiming the Credit , earlier. Tax form 1040 ez If you answered “Yes” on line 9 or line 10 of the Child Tax Credit Worksheet in the Form 1040 or Form 1040A instructions, or line 13 of the Child Tax Credit Worksheet in Publication 972, use Parts II through IV of Schedule 8812 to see if you can take the additional child tax credit. Tax form 1040 ez If you have an additional child tax credit on line 13 of Schedule 8812, carry it to Form 1040, line 65, or Form 1040A, line 39. Tax form 1040 ez Completing Schedule 8812 (Form 1040A or 1040) Schedule 8812 contains four parts, but can really be thought of as two sections. Tax form 1040 ez Part I is distinct and separate from Parts II–IV. Tax form 1040 ez If all your children are identified by social security numbers or IRS adoption taxpayer identification numbers and you are not claiming the additional child tax credit, you do not need to complete or attach Schedule 8812 to your tax return. Tax form 1040 ez Part I You only need to complete Part I if you are claiming the child tax credit for a child identified by an IRS individual taxpayer identification number (ITIN). Tax form 1040 ez When completing Part I, only answer the questions with regard to children identified by an ITIN; you do not need to complete Part I of Schedule 8812 for any child that is identified by a social security number (SSN) or an IRS adoption taxpayer identification number (ATIN). Tax form 1040 ez If all the children for whom you checked the box in column 4 of line 6c on your Form 1040 or Form 1040A are identified by an SSN or an ATIN, you do not need to complete Part I of Schedule 8812. Tax form 1040 ez Parts II–IV Parts II–IV help you figure your additional child tax credit. Tax form 1040 ez Generally, you should only complete Parts II–IV if you are instructed to do so after completing the Child Tax Credit Worksheet in your tax return instructions or Publication 972. Tax form 1040 ez See How to claim the additional child tax credit , earlier. Tax form 1040 ez Prev  Up  Next   Home   More Online Publications
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The Tax Form 1040 Ez

Tax form 1040 ez 3. Tax form 1040 ez   Exclusions From Gross Income Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Resident AliensForeign Earned Income and Housing Amount Nonresident AliensInterest Income Dividend Income Services Performed for Foreign Employer Gambling Winnings From Dog or Horse Racing Gain From the Sale of Your Main Home Scholarships and Fellowship GrantsExpenses that do not qualify. Tax form 1040 ez Introduction Resident and nonresident aliens are allowed exclusions from gross income if they meet certain conditions. Tax form 1040 ez An exclusion from gross income is generally income you receive that is not included in your U. Tax form 1040 ez S. Tax form 1040 ez income and is not subject to U. Tax form 1040 ez S. Tax form 1040 ez tax. Tax form 1040 ez This chapter covers some of the more common exclusions allowed to resident and nonresident aliens. Tax form 1040 ez Topics - This chapter discusses: Nontaxable interest, Nontaxable dividends, Certain compensation paid by a foreign employer, Gain from sale of home, and Scholarships and fellowship grants. Tax form 1040 ez Useful Items - You may want to see: Publication 54 Tax Guide for U. Tax form 1040 ez S. Tax form 1040 ez Citizens and Resident Aliens Abroad 523 Selling Your Home See chapter 12 for information about getting these publications. Tax form 1040 ez Resident Aliens Resident aliens may be able to exclude the following items from their gross income. Tax form 1040 ez Foreign Earned Income and Housing Amount If you are physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months, you may qualify for the foreign earned income exclusion. Tax form 1040 ez The exclusion is $97,600 in 2013. Tax form 1040 ez In addition, you may be able to exclude or deduct certain foreign housing amounts. Tax form 1040 ez You may also qualify if you are a bona fide resident of a foreign country and you are a citizen or national of a country with which the United States has an income tax treaty. Tax form 1040 ez For more information, see Publication 54. Tax form 1040 ez Foreign country. Tax form 1040 ez    A foreign country is any territory under the sovereignty of a government other than that of the United States. Tax form 1040 ez   The term “foreign country” includes the country's territorial waters and airspace, but not international waters and the airspace above them. Tax form 1040 ez It also includes the seabed and subsoil of those submarine areas adjacent to the country's territorial waters over which it has exclusive rights under international law to explore and exploit the natural resources. Tax form 1040 ez   The term “foreign country” does not include U. Tax form 1040 ez S. Tax form 1040 ez possessions or territories. Tax form 1040 ez It does not include the Antarctic region. Tax form 1040 ez Nonresident Aliens Nonresident aliens can exclude the following items from their gross income. Tax form 1040 ez Interest Income Interest income that is not connected with a U. Tax form 1040 ez S. Tax form 1040 ez trade or business is excluded from income if it is from: Deposits (including certificates of deposit) with persons in the banking business, Deposits or withdrawable accounts with mutual savings banks, cooperative banks, credit unions, domestic building and loan associations, and other savings institutions chartered and supervised as savings and loan or similar associations under federal or state law (if the interest paid or credited can be deducted by the association), and Amounts held by an insurance company under an agreement to pay interest on them. Tax form 1040 ez State and local government obligations. Tax form 1040 ez   Interest on obligations of a state or political subdivision, the District of Columbia, or a U. Tax form 1040 ez S. Tax form 1040 ez possession, generally is not included in income. Tax form 1040 ez However, interest on certain private activity bonds, arbitrage bonds, and certain bonds not in registered form is included in income. Tax form 1040 ez Portfolio interest. Tax form 1040 ez   Interest and original issue discount that qualifies as portfolio interest is not subject to NRA withholding. Tax form 1040 ez To qualify as portfolio interest, the interest must be paid on obligations issued after July 18, 1984, and otherwise subject to NRA withholding. Tax form 1040 ez Note. Tax form 1040 ez For obligations issued after March 18, 2012, portfolio interest does not include interest paid on debt that is not in registered form. Tax form 1040 ez Before March 19, 2012, portfolio interest included interest on certain registered and nonregistered (bearer) bonds if the obligations meet the requirements described below. Tax form 1040 ez Obligations in registered form. Tax form 1040 ez   Portfolio interest includes interest paid on an obligation that is in registered form, and for which you have received documentation that the beneficial owner of the obligation is not a United States person. Tax form 1040 ez   Generally, an obligation is in registered form if: (i) the obligation is registered as to both principal and any stated interest with the issuer (or its agent) and any transfer of the obligation may be effected only by surrender of the old obligation and reissuance to the new holder; (ii) the right to principal and stated interest with respect to the obligation may be transferred only through a book entry system maintained by the issuer or its agent; or (iii) the obligation is registered as to both principal and stated interest with the issuer or its agent and can be transferred both by surrender and reissuance and through a book entry system. Tax form 1040 ez   An obligation that would otherwise be considered to be in registered form is not considered to be in registered form as of a particular time if it can be converted at any time in the future into an obligation that is not in registered form. Tax form 1040 ez For more information on whether obligations are considered to be in registered form, see Portfolio interest in Publication 515. Tax form 1040 ez Obligations not in registered form. Tax form 1040 ez    For obligations issued before March 19, 2012, interest on an obligation that is not in registered form (bearer obligation) is portfolio interest if the obligation is foreign-targeted. Tax form 1040 ez A bearer obligation is foreign-targeted if: There are arrangements to ensure that the obligation will be sold, or resold in connection with the original issue, only to a person who is not a United States person, Interest on the obligation is payable only outside the United States and its possessions, and The face of the obligation contains a statement that any United States person who holds the obligation will be subject to limits under the United States income tax laws. Tax form 1040 ez   Documentation is not required for interest on bearer obligations to qualify as portfolio interest. Tax form 1040 ez In some cases, however, you may need documentation for purposes of Form 1099 reporting and backup withholding. Tax form 1040 ez Interest that does not qualify as portfolio interest. Tax form 1040 ez   Payments to certain persons and payments of contingent interest do not qualify as portfolio interest. Tax form 1040 ez You must withhold at the statutory rate on such payments unless some other exception, such as a treaty provision, applies. Tax form 1040 ez Contingent interest. Tax form 1040 ez   Portfolio interest does not include contingent interest. Tax form 1040 ez Contingent interest is either of the following: Interest that is determined by reference to: Any receipts, sales, or other cash flow of the debtor or related person, Income or profits of the debtor or related person, Any change in value of any property of the debtor or a related person, or Any dividend, partnership distributions, or similar payments made by the debtor or a related person. Tax form 1040 ez For exceptions, see Internal Revenue Code section 871(h)(4)(C). Tax form 1040 ez Any other type of contingent interest that is identified by the Secretary of the Treasury in regulations. Tax form 1040 ez Related persons. Tax form 1040 ez   Related persons include the following. Tax form 1040 ez Members of a family, including only brothers, sisters, half-brothers, half-sisters, spouse, ancestors (parents, grandparents, etc. Tax form 1040 ez ), and lineal descendants (children, grandchildren, etc. Tax form 1040 ez ). Tax form 1040 ez Any person who is a party to any arrangement undertaken for the purpose of avoiding the contingent interest rules. Tax form 1040 ez Certain corporations, partnerships, and other entities. Tax form 1040 ez For details, see Nondeductible Loss in chapter 2 of Publication 544. Tax form 1040 ez Exception for existing debt. Tax form 1040 ez   Contingent interest does not include interest paid or accrued on any debt with a fixed term that was issued: On or before April 7, 1993, or After April 7, 1993, pursuant to a written binding contract in effect on that date and at all times thereafter before that debt was issued. Tax form 1040 ez Dividend Income The following dividend income is exempt from the 30% tax. Tax form 1040 ez Certain dividends paid by foreign corporations. Tax form 1040 ez   There is no 30% tax on U. Tax form 1040 ez S. Tax form 1040 ez source dividends you receive from a foreign corporation. Tax form 1040 ez See Second exception under Dividends in chapter 2 for how to figure the amount of U. Tax form 1040 ez S. Tax form 1040 ez source dividends. Tax form 1040 ez Certain interest-related dividends. Tax form 1040 ez   There is no 30% tax on interest-related dividends from sources within the United States that you receive from a mutual fund or other regulated investment company in 2013. Tax form 1040 ez The mutual fund will designate in writing which dividends are interest-related dividends. Tax form 1040 ez Certain short-term capital gain dividends. Tax form 1040 ez   There may not be any 30% tax on certain short-term capital gain dividends from sources within the United States that you receive from a mutual fund or other regulated investment company. Tax form 1040 ez The mutual fund will designate in writing which dividends are short-term capital gain dividends. Tax form 1040 ez This tax relief will not apply to you if you are present in the United States for 183 days or more during your tax year. Tax form 1040 ez Services Performed for Foreign Employer If you were paid by a foreign employer, your U. Tax form 1040 ez S. Tax form 1040 ez source income may be exempt from U. Tax form 1040 ez S. Tax form 1040 ez tax, but only if you meet one of the situations discussed next. Tax form 1040 ez Employees of foreign persons, organizations, or offices. Tax form 1040 ez   Income for personal services performed in the United States as a nonresident alien is not considered to be from U. Tax form 1040 ez S. Tax form 1040 ez sources and is tax exempt if you meet all three of the following conditions. Tax form 1040 ez You perform personal services as an employee of or under a contract with a nonresident alien individual, foreign partnership, or foreign corporation, not engaged in a trade or business in the United States; or you work for an office or place of business maintained in a foreign country or possession of the United States by a U. Tax form 1040 ez S. Tax form 1040 ez corporation, a U. Tax form 1040 ez S. Tax form 1040 ez partnership, or a U. Tax form 1040 ez S. Tax form 1040 ez citizen or resident. Tax form 1040 ez You perform these services while you are a nonresident alien temporarily present in the United States for a period or periods of not more than a total of 90 days during the tax year. Tax form 1040 ez Your pay for these services is not more than $3,000. Tax form 1040 ez If you do not meet all three conditions, your income from personal services performed in the United States is U. Tax form 1040 ez S. Tax form 1040 ez source income and is taxed according to the rules in chapter 4. Tax form 1040 ez   If your pay for these services is more than $3,000, the entire amount is income from a trade or business within the United States. Tax form 1040 ez To find if your pay is more than $3,000, do not include any amounts you get from your employer for advances or reimbursements of business travel expenses, if you were required to and did account to your employer for those expenses. Tax form 1040 ez If the advances or reimbursements are more than your expenses, include the excess in your pay for these services. Tax form 1040 ez   A day means a calendar day during any part of which you are physically present in the United States. Tax form 1040 ez Example 1. Tax form 1040 ez During 2013, Henry Smythe, a nonresident alien from a nontreaty country, worked for an overseas office of a U. Tax form 1040 ez S. Tax form 1040 ez partnership. Tax form 1040 ez Henry, who uses the calendar year as his tax year, was temporarily present in the United States for 60 days during 2013 performing personal services for the overseas office of the partnership. Tax form 1040 ez That office paid him a total gross salary of $2,800 for those services. Tax form 1040 ez During 2013, he was not engaged in a trade or business in the United States. Tax form 1040 ez The salary is not considered U. Tax form 1040 ez S. Tax form 1040 ez source income and is exempt from U. Tax form 1040 ez S. Tax form 1040 ez tax. Tax form 1040 ez Example 2. Tax form 1040 ez The facts are the same as in Example 1, except that Henry's total gross salary for the services performed in the United States during 2013 was $4,500. Tax form 1040 ez He received $2,875 in 2013, and $1,625 in 2014. Tax form 1040 ez During 2013, he was engaged in a trade or business in the United States because the compensation for his personal services in the United States was more than $3,000. Tax form 1040 ez Henry's salary is U. Tax form 1040 ez S. Tax form 1040 ez source income and is taxed under the rules in chapter 4. Tax form 1040 ez Crew members. Tax form 1040 ez   Compensation for services performed by a nonresident alien in connection with the individual's temporary presence in the United States as a regular crew member of a foreign vessel (for example, a boat or ship) engaged in transportation between the United States and a foreign country or U. Tax form 1040 ez S. Tax form 1040 ez possession is not U. Tax form 1040 ez S. Tax form 1040 ez source income and is exempt from U. Tax form 1040 ez S. Tax form 1040 ez tax. Tax form 1040 ez This exemption does not apply to compensation for services performed on foreign aircraft. Tax form 1040 ez Students and exchange visitors. Tax form 1040 ez   Nonresident alien students and exchange visitors present in the United States under “F,” “J,” or “Q” visas can exclude from gross income pay received from a foreign employer. Tax form 1040 ez   This group includes bona fide students, scholars, trainees, teachers, professors, research assistants, specialists, or leaders in a field of specialized knowledge or skill, or persons of similar description. Tax form 1040 ez It also includes the alien's spouse and minor children if they come with the alien or come later to join the alien. Tax form 1040 ez   A nonresident alien temporarily present in the United States under a “J” visa includes an alien individual entering the United States as an exchange visitor under the Mutual Educational and Cultural Exchange Act of 1961. Tax form 1040 ez Foreign employer. Tax form 1040 ez   A foreign employer is: A nonresident alien individual, foreign partnership, or foreign corporation, or An office or place of business maintained in a foreign country or in a U. Tax form 1040 ez S. Tax form 1040 ez possession by a U. Tax form 1040 ez S. Tax form 1040 ez corporation, a U. Tax form 1040 ez S. Tax form 1040 ez partnership, or an individual who is a U. Tax form 1040 ez S. Tax form 1040 ez citizen or resident. Tax form 1040 ez   The term “foreign employer” does not include a foreign government. Tax form 1040 ez Pay from a foreign government that is exempt from U. Tax form 1040 ez S. Tax form 1040 ez income tax is discussed in chapter 10. Tax form 1040 ez Income from certain annuities. Tax form 1040 ez   Do not include in income any annuity received under a qualified annuity plan or from a qualified trust exempt from U. Tax form 1040 ez S. Tax form 1040 ez income tax if you meet both of the following conditions. Tax form 1040 ez You receive the annuity only because: You performed personal services outside the United States while you were a nonresident alien, or You performed personal services inside the United States while you were a nonresident alien and you met the three conditions, described earlier, under Employees of foreign persons, organizations, or offices . Tax form 1040 ez At the time the first amount is paid as an annuity under the plan (or by the trust), 90% or more of the employees for whom contributions or benefits are provided under the annuity plan (or under the plan of which the trust is a part) are U. Tax form 1040 ez S. Tax form 1040 ez citizens or residents. Tax form 1040 ez   If the annuity qualifies under condition (1) but not condition (2) above, you do not have to include the amount in income if: You are a resident of a country that gives a substantially equal exclusion to U. Tax form 1040 ez S. Tax form 1040 ez citizens and residents, or You are a resident of a beneficiary developing country under Title V of the Trade Act of 1974. Tax form 1040 ez   If you are not sure whether the annuity is from a qualified annuity plan or qualified trust, ask the person who made the payment. Tax form 1040 ez Income affected by treaties. Tax form 1040 ez   Income of any kind that is exempt from U. Tax form 1040 ez S. Tax form 1040 ez tax under a treaty to which the United States is a party is excluded from your gross income. Tax form 1040 ez Income on which the tax is only limited by treaty, however, is included in gross income. Tax form 1040 ez See chapter 9. Tax form 1040 ez Gambling Winnings From Dog or Horse Racing You can exclude from your gross income winnings from legal wagers initiated outside the United States in a parimutuel pool with respect to a live horse or dog race in the United States. Tax form 1040 ez Gain From the Sale of Your Main Home If you sold your main home, you may be able to exclude up to $250,000 of the gain on the sale of your home. Tax form 1040 ez If you are married and file a joint return, you may be able to exclude up to $500,000. Tax form 1040 ez For information on the requirements for this exclusion, see Publication 523. Tax form 1040 ez This exclusion does not apply to nonresident aliens who are subject to the expatriation tax rules discussed in chapter 4. Tax form 1040 ez Scholarships and Fellowship Grants If you are a candidate for a degree, you may be able to exclude from your income part or all of the amounts you receive as a qualified scholarship. Tax form 1040 ez The rules discussed here apply to both resident and nonresident aliens. Tax form 1040 ez If a nonresident alien receives a grant that is not from U. Tax form 1040 ez S. Tax form 1040 ez sources, it is not subject to U. Tax form 1040 ez S. Tax form 1040 ez tax. Tax form 1040 ez See Scholarships, Grants, Prizes, and Awards in chapter 2 to determine whether your grant is from U. Tax form 1040 ez S. Tax form 1040 ez sources. Tax form 1040 ez A scholarship or fellowship is excludable from income only if: You are a candidate for a degree at an eligible educational institution, and You use the scholarship or fellowship to pay qualified education expenses. Tax form 1040 ez Candidate for a degree. Tax form 1040 ez   You are a candidate for a degree if you: Attend a primary or secondary school or are pursuing a degree at a college or university, or Attend an accredited educational institution that is authorized to provide: A program that is acceptable for full credit toward a bachelor's or higher degree, or A program of training to prepare students for gainful employment in a recognized occupation. Tax form 1040 ez Eligible educational institution. Tax form 1040 ez   An eligible educational institution is one that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities. Tax form 1040 ez Qualified education expenses. Tax form 1040 ez   These are expenses for: Tuition and fees required to enroll at or attend an eligible educational institution, and Course-related expenses, such as fees, books, supplies, and equipment that are required for the courses at the eligible educational institution. Tax form 1040 ez These items must be required of all students in your course of instruction. Tax form 1040 ez However, in order for these to be qualified education expenses, the terms of the scholarship or fellowship cannot require that it be used for other purposes, such as room and board, or specify that it cannot be used for tuition or course-related expenses. Tax form 1040 ez Expenses that do not qualify. Tax form 1040 ez   Qualified education expenses do not include the cost of: Room and board, Travel, Research, Clerical help, or Equipment and other expenses that are not required for enrollment in or attendance at an eligible educational institution. Tax form 1040 ez This is true even if the fee must be paid to the institution as a condition of enrollment or attendance. Tax form 1040 ez Scholarship or fellowship amounts used to pay these costs are taxable. Tax form 1040 ez Amounts used to pay expenses that do not qualify. Tax form 1040 ez   A scholarship amount used to pay any expense that does not qualify is taxable, even if the expense is a fee that must be paid to the institution as a condition of enrollment or attendance. Tax form 1040 ez Payment for services. Tax form 1040 ez   You cannot exclude from income the portion of any scholarship, fellowship, or tuition reduction that represents payment for past, present, or future teaching, research, or other services. Tax form 1040 ez This is true even if all candidates for a degree are required to perform the services as a condition for receiving the degree. Tax form 1040 ez Example. Tax form 1040 ez On January 7, Maria Gomez is notified of a scholarship of $2,500 for the spring semester. Tax form 1040 ez As a condition for receiving the scholarship, Maria must serve as a part-time teaching assistant. Tax form 1040 ez Of the $2,500 scholarship, $1,000 represents payment for her services. Tax form 1040 ez Assuming that Maria meets all other conditions, she can exclude no more than $1,500 from income as a qualified scholarship. Tax form 1040 ez Prev  Up  Next   Home   More Online Publications