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Where Can I File My 2012 Taxes For Free

Where can i file my 2012 taxes for free Publication 584SP - Additional Material Table of Contents This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Pasillo de Entrada (Entrance Hall) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Sala de Estar (Living Room) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Comedor (Dining Room) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Cocina (Kitchen) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Cuarto de Trabajo (Den) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Dormitorios (Bedrooms) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Baños (Bathrooms) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Cuarto de Recreación/Juegos (Recreation Room) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Lavadero y Sótano (Laundry and Basement) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Garaje (Garage) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Equipo Deportivo (Sporting Equipment) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Ropa de Hombres (Men's Clothing) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Ropa de Mujeres (Women's Clothing) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Ropa de Niños (Children's Clothing) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Joyería (Jewelry) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Enseres Eléctricos (Electrical Appliances) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Artículos de Hilo (Linens) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Artículos Misceláneos (Miscellaneous) This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free vehículos motorizados This image is too large to be displayed in the current screen. Where can i file my 2012 taxes for free Please click the link to view the image. Where can i file my 2012 taxes for free Hogar (Excluyendo su contenido) Hoja de Trabajo A. Where can i file my 2012 taxes for free Costo u Otra Base (Ajustada) Precaución:Vea Instrucciones de la Hoja de Trabajo A antes de usar esta hoja de trabajo. Where can i file my 2012 taxes for free         (a) Parte Personal (b) Parte Comercial/de Alquiler 1. Where can i file my 2012 taxes for free   Anote el precio de compra de la vivienda dañada o destruida. Where can i file my 2012 taxes for free (Si usted presentó el Formulario 2119 cuando en un principio adquirió dicha vivienda para aplazar ganancias provenientes de la venta de una vivienda anterior antes del 7 de mayo de 1997, anote la base ajustada de la vivienda nueva, usando la cantidad que aparece en dicho Formulario 2119). Where can i file my 2012 taxes for free 1. Where can i file my 2012 taxes for free     2. Where can i file my 2012 taxes for free   Puntos pagados por el vendedor para una vivienda comprada después de 1990. Where can i file my 2012 taxes for free No incluya puntos pagados por el vendedor que ya restó para llegar a la cantidad anotada en la línea 1 2. Where can i file my 2012 taxes for free     3. Where can i file my 2012 taxes for free   Reste la línea 2 de la línea 1 3. Where can i file my 2012 taxes for free     4. Where can i file my 2012 taxes for free   Cargos por liquidación o costos de cierre. Where can i file my 2012 taxes for free (Vea Settlement Costs (Costos de Liquidación) en la Publicación 551, en inglés). Where can i file my 2012 taxes for free Si la línea 1 incluye la base ajustada de la vivienda nueva del Formulario 2119, ignore las líneas 4a a la 4g y 5; para entonces pasar a la línea 6. Where can i file my 2012 taxes for free         a. Where can i file my 2012 taxes for free Honorarios por estudios de escritura 4a. Where can i file my 2012 taxes for free       b. Where can i file my 2012 taxes for free Honorarios legales (incluyendo honorarios por trámites relacionados con la escritura y la preparación de documentos) 4b. Where can i file my 2012 taxes for free       c. Where can i file my 2012 taxes for free Estudios topográficos 4c. Where can i file my 2012 taxes for free       d. Where can i file my 2012 taxes for free Seguro de escritura de propietario 4d. Where can i file my 2012 taxes for free       e. Where can i file my 2012 taxes for free Impuestos de traspaso o de sello 4e. Where can i file my 2012 taxes for free       f. Where can i file my 2012 taxes for free Cantidades que el vendedor adeudaba y que usted acordó pagar (impuestos atrasados o intereses, costos de registro o cargos hipotecarios y comisiones sobre las ventas) 4f. Where can i file my 2012 taxes for free       g. Where can i file my 2012 taxes for free Otros gastos 4g. Where can i file my 2012 taxes for free     5. Where can i file my 2012 taxes for free   Sume las líneas 4a a la 4g 5. Where can i file my 2012 taxes for free     6. Where can i file my 2012 taxes for free   Costo de ampliaciones y mejoras. Where can i file my 2012 taxes for free (Vea Increases to Basis (Aumentos en la Base) en la Publicación 551, en inglés). Where can i file my 2012 taxes for free No incluya ninguna de las ampliaciones o mejoras incluidas en la línea 1 6. Where can i file my 2012 taxes for free     7. Where can i file my 2012 taxes for free   Tasaciones tributarias especiales pagadas por concepto de mejoras locales, tales como calles y aceras o banquetas 7. Where can i file my 2012 taxes for free     8. Where can i file my 2012 taxes for free   Otros aumentos en la base 8. Where can i file my 2012 taxes for free     9. Where can i file my 2012 taxes for free   Sume las líneas 3, 5, 6, 7 y 8 9. Where can i file my 2012 taxes for free     10. Where can i file my 2012 taxes for free   Depreciación (permitida o permisible) relacionada con el uso comercial o alquiler de la vivienda 10. Where can i file my 2012 taxes for free 0   11. Where can i file my 2012 taxes for free   Otras disminuciones en la base (Vea Decreases to Basis (Disminuciones en la Base) en la Publicación 551, en inglés). Where can i file my 2012 taxes for free 11. Where can i file my 2012 taxes for free     12. Where can i file my 2012 taxes for free   Sume las líneas 10 y 11 12. Where can i file my 2012 taxes for free     13. Where can i file my 2012 taxes for free   Costo u otra base (ajustada) de la vivienda dañada o destruida. Where can i file my 2012 taxes for free Reste la línea 12 de la línea 9. Where can i file my 2012 taxes for free Anote dicha cantidad aquí y en la línea 2 del Anexo 20 13. Where can i file my 2012 taxes for free     Instrucciones para la Hoja de Trabajo A. Where can i file my 2012 taxes for free Si usted usa la Hoja de Trabajo A para calcular el costo u otra base (ajustada) de su vivienda, siga estas instrucciones. Where can i file my 2012 taxes for free NO utilice esta hoja de trabajo para determinar el costo de su base si adquirió interés de su vivienda por un difunto que falleció en 2010 y el albacea de su caudal hereditario presentó el Formulario 8939. Where can i file my 2012 taxes for free SI. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free   ENTONCES. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free usted heredó su vivienda de un difunto que falleció antes o depués del 2010, o de un difunto que falleció en el 2010 pero la albacea de su caudal hereditario no presentó el Formulario 8939. Where can i file my 2012 taxes for free 1 omita las líneas 1 a la 4 de la hoja de trabajo. Where can i file my 2012 taxes for free 2 encuentre su base utilizando las reglas bajo Inherited Property (Bienes Heredados) en la Publicación 551, en inglés. Where can i file my 2012 taxes for free Anote esta cantidad en la línea 5 de la hoja de trabajo. Where can i file my 2012 taxes for free 3 llene las líneas 6 a la 13 de la hoja de trabajo. Where can i file my 2012 taxes for free usted recibió su vivienda como un regalo (donación) 1 lea Property Received as Gift (Bienes Recibidos como Regalo (Donación)) en la Publicación 551, en inglés, y anote en las líneas 1 y 3 de la hoja de trabajo la base ajustada del donante o el valor justo de mercado de la vivienda en el momento del regalo (donación), lo que proceda. Where can i file my 2012 taxes for free 2 si usted puede sumar algún impuesto federal sobre donaciones a su base, anote esa cantidad en la línea 5 de la hoja de trabajo. Where can i file my 2012 taxes for free 3 llene el resto de la hoja de trabajo. Where can i file my 2012 taxes for free usted recibió su vivienda como un canje por otra propiedad 1 anote en la línea 1 de la hoja de trabajo el valor justo de mercado de la otra propiedad al tiempo del canje. Where can i file my 2012 taxes for free (Pero si usted recibió su vivienda como un canje por su vivienda anterior antes del 7 de mayo de 1997, y tuvo una ganancia en que el canje se aplazó utilizando el Formulario 2119, anote en la línea 1 de la hoja de trabajo la base ajustada de la vivienda nueva que aparece en dicho formulario). Where can i file my 2012 taxes for free 2 llene el resto de la hoja de trabajo. Where can i file my 2012 taxes for free usted construyó su vivienda 1 sume el precio de compra del terreno y el costo de la construcción de la vivienda. Where can i file my 2012 taxes for free Anote ese total en la línea 1 de la hoja de trabajo. Where can i file my 2012 taxes for free (Sin embargo, si usted presentó un Formulario 2119 para aplazar ganancias en la venta de una vivienda anterior antes del 7 de mayo de 1997, anote en la línea 1 de la hoja de trabajo la base ajustada de la vivienda nueva que aparece en dicho formulario). Where can i file my 2012 taxes for free 2 llene el resto de la hoja de trabajo. Where can i file my 2012 taxes for free usted recibió su vivienda de su cónyuge después del 18 de julio de 1984 1 ignore las líneas 1 a la 4 de la hoja de trabajo. Where can i file my 2012 taxes for free 2 anote en la línea 5 de la hoja de trabajo el costo u otra base (ajustada) de su cónyuge en la vivienda justo antes de que usted la haya recibido. Where can i file my 2012 taxes for free 3 llene las líneas 6 a la 13 de la hoja de trabajo, haciendo ajustes a la base solamente por acontecimientos después del traspaso. Where can i file my 2012 taxes for free usted fue dueño de una vivienda conjuntamente con su cónyuge, el cual le traspasó su participación en la misma después del 18 de julio de 1984     llene una hoja de trabajo, haciendo los ajustes a la base por acontecimientos tanto antes como después del traspaso. Where can i file my 2012 taxes for free   usted recibió su vivienda de su cónyuge antes del 19 de julio de 1984 1 ignore las líneas 1 a la 4 de la hoja de trabajo. Where can i file my 2012 taxes for free 2 anote en la línea 5 de la hoja de trabajo el valor justo de mercado de la vivienda cuando usted la recibió. Where can i file my 2012 taxes for free 3 llene las líneas 6 a la 13 de la hoja de trabajo, ajustando la base solamente por acontecimientos después del traspaso. Where can i file my 2012 taxes for free usted fue dueño de una vivienda conjuntamente con su cónyuge, el cual le traspasó su participación en la misma antes del 19 de julio de 1984 1 llene una hoja de trabajo, las líneas 1 a la 13, ajustando la base solamente por acontecimientos antes del traspaso. Where can i file my 2012 taxes for free 2 multiplique la cantidad de la línea 13 de esa hoja de trabajo por 0. Where can i file my 2012 taxes for free 5 para obtener la base ajustada de la mitad de su participación a la hora del traspaso. Where can i file my 2012 taxes for free 3 multiplique el valor justo de mercado de la vivienda a la hora del traspaso por 0. Where can i file my 2012 taxes for free 5. Where can i file my 2012 taxes for free Generalmente, el resultado corresponde a la base de la mitad de la participación de su cónyuge. Where can i file my 2012 taxes for free 4 sume las cantidades de los pasos 2 y 3 y anote el total en la línea 5 de una segunda hoja de trabajo. Where can i file my 2012 taxes for free 5 complete el resto de la segunda hoja de trabajo, ajustando la base solamente por acontecimientos después del traspaso. Where can i file my 2012 taxes for free usted fue dueño de su vivienda conjuntamente con alguien (aparte de cónyuges que presenten una declaración conjunta) 1 llene las líneas 1 a la 13 de la hoja de trabajo. Where can i file my 2012 taxes for free 2 multiplique la cantidad de la línea 13 para obtener la base ajustada suya por el porcentaje de su parte de su participación de la vivienda. Where can i file my 2012 taxes for free Instrucciones para la Hoja de Trabajo A. Where can i file my 2012 taxes for free (Continuación) SI. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free   ENTONCES. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free usted fue dueño de su vivienda conjuntamente con su cónyuge que falleció antes de 2010 y antes de un hecho fortuito 1 llene una hoja de trabajo, las líneas 1 a la 13, incluyendo ajustes a la base solamente por acontecimientos antes del fallecimiento de su cónyuge. Where can i file my 2012 taxes for free 2 multiplique la cantidad de la línea 13 de esa hoja de trabajo por 0. Where can i file my 2012 taxes for free 5 para obtener la base ajustada de la mitad de su participación a la fecha del fallecimiento. Where can i file my 2012 taxes for free 3 calcule la base de la mitad de la participación de su cónyuge. Where can i file my 2012 taxes for free Esto corresponde a la mitad del valor justo de mercado en la fecha del fallecimiento (o la valoración alternativa usada posteriormente para propósitos de los impuestos de sucesiones o caudales hereditarios). Where can i file my 2012 taxes for free (La base de su mitad seguirá siendo la mitad de la base ajustada determinada en el paso 2). Where can i file my 2012 taxes for free 4 sume las cantidades de los pasos 2 y 3 y anote el total en la línea 5 de una segunda hoja de trabajo. Where can i file my 2012 taxes for free 5 complete las líneas 6 a la 13 de la segunda hoja de trabajo, ajustando la base solamente por acontecimientos después del fallecimiento de su cónyuge. Where can i file my 2012 taxes for free usted fue dueño de su vivienda conjuntamente con su cónyuge que falleció antes de 2010 y antes de un hecho fortuito y, su vivienda permanente está en un estado donde rigen las leyes de la comunidad de bienes matrimoniales 1 ignore las líneas 1 a la 4 de la hoja de trabajo. Where can i file my 2012 taxes for free 2 anote la cantidad de su base en la línea 5 de la hoja de trabajo. Where can i file my 2012 taxes for free Generalmente, esto corresponde al valor justo de mercado de la vivienda al momento del fallecimiento. Where can i file my 2012 taxes for free (No obstante, vea Community Property (Comunidad de Bienes Matrimoniales) en la Publicación 551, en inglés, para reglas especiales). Where can i file my 2012 taxes for free 3 llene el resto de la hoja de trabajo, ajustando la base solamente por acontecimientos después del fallecimiento de su cónyuge. Where can i file my 2012 taxes for free usted fue dueño de su vivienda conjuntamente con alguien (que no sean cónyuges que presenten la declaración conjunta) que falleció antes de 2010 y antes de un hecho fortuito 1 llene las líneas 1 a la 13 de la hoja de trabajo, incluyendo ajustes a la base solamente por acontecimientos antes del fallecimiento del codueño. Where can i file my 2012 taxes for free 2 multiplique la cantidad de la línea 13 por el porcentaje de su parte de su participación de la vivienda para obtener la base ajustada suyo en la fecha del fallecimiento. Where can i file my 2012 taxes for free 3 multiplique el valor justo del mercado en la fecha del fallecimiento (o use la valuació alterna usada posteriormente para propositos de los impuestos de sucesiones o caudales hereditarios) por el porcentaje que corresponde a la participación del codueño. Where can i file my 2012 taxes for free Ésta es la base para el interés parcial del codueño. Where can i file my 2012 taxes for free 4 sume las cantidades de los pasos 2 y 3 y anote el total en la línea 5 de una segunda hoja de trabajo. Where can i file my 2012 taxes for free 5 complete las líneas 6 a la 13 de la segunda hoja de trabajo incluyendo ajustes a la base solamente por acontecimientos después del fallecimiento del codueño. Where can i file my 2012 taxes for free alguna vez su vivienda sufrió daños debido a un hecho fortuito anterior 1 en la línea 8 de la hoja de trabajo, anote toda cantidad que haya gastado para restaurar la vivienda a su estado original antes del hecho fortuito anterior. Where can i file my 2012 taxes for free 2 en la línea 11 anote: todo reembolso de seguros que usted haya recibido (o espera recibir) por la pérdida anterior  y toda pérdida por hecho fortuito deducible de años anteriores no cubierta por  su seguro. Where can i file my 2012 taxes for free la persona que le vendió su vivienda pagó puntos sobre su préstamo y usted compró su vivienda después de 1990 pero antes del 4 de abril de 1994   en la línea 2 anote los puntos pagados por el vendedor solamente si usted los dedujo como intereses hipotecarios de la vivienda en el año en que fueron pagados (a no ser que haya utilizado los puntos pagados por el vendedor para reducir la cantidad de la línea 1). Where can i file my 2012 taxes for free la persona que le vendió su vivienda pagó puntos sobre su préstamo y usted compró su vivienda después del 3 de abril de 1994   en la línea 2 anote los puntos pagados por el vendedor aun si usted no los dedujo (a no ser que haya utilizado los puntos pagados por el vendedor para reducir la cantidad de la línea 1). Where can i file my 2012 taxes for free usted usó parte de la propiedad como su vivienda y parte de ella para propósitos comerciales o para generar ingresos de alquiler   usted debe asignar las anotaciones en la Hoja de Trabajo A entre la parte personal (columna (a)) y la parte comercial/de alquiler (columna (b)). Where can i file my 2012 taxes for free no corresponde ninguno de los puntos anteriores   llene completamente la hoja de trabajo. Where can i file my 2012 taxes for free Prev  Up  Next   Home   More Online Publications
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The Where Can I File My 2012 Taxes For Free

Where can i file my 2012 taxes for free 7. Where can i file my 2012 taxes for free   Coverdell Education Savings Account (ESA) Table of Contents Introduction What Is a Coverdell ESAQualified Education Expenses ContributionsContribution Limits Additional Tax on Excess Contributions Rollovers and Other TransfersRollovers Changing the Designated Beneficiary Transfer Because of Divorce DistributionsTax-Free Distributions Taxable Distributions When Assets Must Be Distributed Introduction If your modified adjusted gross income (MAGI) is less than $110,000 ($220,000 if filing a joint return), you may be able to establish a Coverdell ESA to finance the qualified education expenses of a designated beneficiary. Where can i file my 2012 taxes for free For most taxpayers, MAGI is the adjusted gross income as figured on their federal income tax return. Where can i file my 2012 taxes for free There is no limit on the number of separate Coverdell ESAs that can be established for a designated beneficiary. Where can i file my 2012 taxes for free However, total contributions for the beneficiary in any year cannot be more than $2,000, no matter how many accounts have been established. Where can i file my 2012 taxes for free See Contributions , later. Where can i file my 2012 taxes for free This benefit applies not only to higher education expenses, but also to elementary and secondary education expenses. Where can i file my 2012 taxes for free What is the tax benefit of the Coverdell ESA. Where can i file my 2012 taxes for free   Contributions to a Coverdell ESA are not deductible, but amounts deposited in the account grow tax free until distributed. Where can i file my 2012 taxes for free   If, for a year, distributions from an account are not more than a designated beneficiary's qualified education expenses at an eligible educational institution, the beneficiary will not owe tax on the distributions. Where can i file my 2012 taxes for free See Tax-Free Distributions , later. Where can i file my 2012 taxes for free    Table 7-1 summarizes the main features of the Coverdell ESA. Where can i file my 2012 taxes for free Table 7-1. Where can i file my 2012 taxes for free Coverdell ESA at a Glance Do not rely on this table alone. Where can i file my 2012 taxes for free It provides only general highlights. Where can i file my 2012 taxes for free See the text for definitions of terms in bold type and for more complete explanations. Where can i file my 2012 taxes for free Question Answer What is a Coverdell ESA? A savings account that is set up to pay the qualified education expenses of a designated beneficiary. Where can i file my 2012 taxes for free Where can it be established? It can be opened in the United States at any bank or other IRS-approved entity that offers Coverdell ESAs. Where can i file my 2012 taxes for free Who can have a Coverdell ESA? Any beneficiary who is under age 18 or is a special needs beneficiary. Where can i file my 2012 taxes for free Who can contribute to a Coverdell ESA? Generally, any individual (including the beneficiary) whose modified adjusted gross income for the year is less than $110,000 ($220,000 in the case of a joint return). Where can i file my 2012 taxes for free Are distributions tax free? Yes, if the distributions are not more than the beneficiary's adjusted qualified education expenses for the year. Where can i file my 2012 taxes for free What Is a Coverdell ESA A Coverdell ESA is a trust or custodial account created or organized in the United States only for the purpose of paying the qualified education expenses of the Designated beneficiary (defined later) of the account. Where can i file my 2012 taxes for free When the account is established, the designated beneficiary must be under age 18 or a special needs beneficiary. Where can i file my 2012 taxes for free To be treated as a Coverdell ESA, the account must be designated as a Coverdell ESA when it is created. Where can i file my 2012 taxes for free The document creating and governing the account must be in writing and must satisfy the following requirements. Where can i file my 2012 taxes for free The trustee or custodian must be a bank or an entity approved by the IRS. Where can i file my 2012 taxes for free The document must provide that the trustee or custodian can only accept a contribution that meets all of the following conditions. Where can i file my 2012 taxes for free The contribution is in cash. Where can i file my 2012 taxes for free The contribution is made before the beneficiary reaches age 18, unless the beneficiary is a special needs beneficiary. Where can i file my 2012 taxes for free The contribution would not result in total contributions for the year (not including rollover contributions) being more than $2,000. Where can i file my 2012 taxes for free Money in the account cannot be invested in life insurance contracts. Where can i file my 2012 taxes for free Money in the account cannot be combined with other property except in a common trust fund or common investment fund. Where can i file my 2012 taxes for free The balance in the account generally must be distributed within 30 days after the earlier of the following events. Where can i file my 2012 taxes for free The beneficiary reaches age 30, unless the beneficiary is a special needs beneficiary. Where can i file my 2012 taxes for free The beneficiary's death. Where can i file my 2012 taxes for free Qualified Education Expenses Generally, these are expenses required for the enrollment or attendance of the designated beneficiary at an eligible educational institution. Where can i file my 2012 taxes for free For purposes of Coverdell ESAs, the expenses can be either qualified higher education expenses or qualified elementary and secondary education expenses. Where can i file my 2012 taxes for free Designated beneficiary. Where can i file my 2012 taxes for free   This is the individual named in the document creating the trust or custodial account to receive the benefit of the funds in the account. Where can i file my 2012 taxes for free Contributions to a qualified tuition program (QTP). Where can i file my 2012 taxes for free   A contribution to a QTP is a qualified education expense if the contribution is on behalf of the designated beneficiary of the Coverdell ESA. Where can i file my 2012 taxes for free In the case of a change in beneficiary, this is a qualified expense only if the new beneficiary is a family member of that designated beneficiary. Where can i file my 2012 taxes for free See chapter 8, Qualified Tuition Program . Where can i file my 2012 taxes for free Eligible Educational Institution For purposes of Coverdell ESAs, an eligible educational institution can be either an eligible postsecondary school or an eligible elementary or secondary school. Where can i file my 2012 taxes for free Eligible postsecondary school. Where can i file my 2012 taxes for free   This is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Where can i file my 2012 taxes for free S. Where can i file my 2012 taxes for free Department of Education. Where can i file my 2012 taxes for free It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Where can i file my 2012 taxes for free The educational institution should be able to tell you if it is an eligible educational institution. Where can i file my 2012 taxes for free   Certain educational institutions located outside the United States also participate in the U. Where can i file my 2012 taxes for free S. Where can i file my 2012 taxes for free Department of Education's Federal Student Aid (FSA) programs. Where can i file my 2012 taxes for free Eligible elementary or secondary school. Where can i file my 2012 taxes for free   This is any public, private, or religious school that provides elementary or secondary education (kindergarten through grade 12), as determined under state law. Where can i file my 2012 taxes for free Qualified Higher Education Expenses These are expenses related to enrollment or attendance at an eligible postsecondary school. Where can i file my 2012 taxes for free As shown in the following list, to be qualified, some of the expenses must be required by the school and some must be incurred by students who are enrolled at least half-time. Where can i file my 2012 taxes for free The following expenses must be required for enrollment or attendance of a designated beneficiary at an eligible postsecondary school. Where can i file my 2012 taxes for free Tuition and fees. Where can i file my 2012 taxes for free Books, supplies, and equipment. Where can i file my 2012 taxes for free Expenses for special needs services needed by a special needs beneficiary must be incurred in connection with enrollment or attendance at an eligible postsecondary school. Where can i file my 2012 taxes for free Expenses for room and board must be incurred by students who are enrolled at least half-time (defined below). Where can i file my 2012 taxes for free The expense for room and board qualifies only to the extent that it is not more than the greater of the following two amounts. Where can i file my 2012 taxes for free The allowance for room and board, as determined by the school, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. Where can i file my 2012 taxes for free The actual amount charged if the student is residing in housing owned or operated by the school. Where can i file my 2012 taxes for free Half-time student. Where can i file my 2012 taxes for free   A student is enrolled “at least half-time” if he or she is enrolled for at least half the full-time academic work load for the course of study the student is pursuing, as determined under the standards of the school where the student is enrolled. Where can i file my 2012 taxes for free Qualified Elementary and Secondary Education Expenses These are expenses related to enrollment or attendance at an eligible elementary or secondary school. Where can i file my 2012 taxes for free As shown in the following list, to be qualified, some of the expenses must be required or provided by the school. Where can i file my 2012 taxes for free There are special rules for computer-related expenses. Where can i file my 2012 taxes for free The following expenses must be incurred by a designated beneficiary in connection with enrollment or attendance at an eligible elementary or secondary school. Where can i file my 2012 taxes for free Tuition and fees. Where can i file my 2012 taxes for free Books, supplies, and equipment. Where can i file my 2012 taxes for free Academic tutoring. Where can i file my 2012 taxes for free Special needs services for a special needs beneficiary. Where can i file my 2012 taxes for free The following expenses must be required or provided by an eligible elementary or secondary school in connection with attendance or enrollment at the school. Where can i file my 2012 taxes for free Room and board. Where can i file my 2012 taxes for free Uniforms. Where can i file my 2012 taxes for free Transportation. Where can i file my 2012 taxes for free Supplementary items and services (including extended day programs). Where can i file my 2012 taxes for free The purchase of computer technology, equipment, or Internet access and related services is a qualified elementary and secondary education expense if it is to be used by the beneficiary and the beneficiary's family during any of the years the beneficiary is in elementary or secondary school. Where can i file my 2012 taxes for free (This does not include expenses for computer software designed for sports, games, or hobbies unless the software is predominantly educational in nature. Where can i file my 2012 taxes for free ) Contributions Any individual (including the designated beneficiary) can contribute to a Coverdell ESA if the individual's MAGI (defined later under Contribution Limits ) for the year is less than $110,000. Where can i file my 2012 taxes for free For individuals filing joint returns, that amount is $220,000. Where can i file my 2012 taxes for free Organizations, such as corporations and trusts, can also contribute to Coverdell ESAs. Where can i file my 2012 taxes for free There is no requirement that an organization's income be below a certain level. Where can i file my 2012 taxes for free Contributions must meet all of the following requirements. Where can i file my 2012 taxes for free They must be in cash. Where can i file my 2012 taxes for free They cannot be made after the beneficiary reaches age 18, unless the beneficiary is a special needs beneficiary. Where can i file my 2012 taxes for free They must be made by the due date of the contributor's tax return (not including extensions). Where can i file my 2012 taxes for free Contributions can be made to one or several Coverdell ESAs for the same designated beneficiary provided that the total contributions are not more than the contribution limits (defined later) for a year. Where can i file my 2012 taxes for free Contributions can be made, without penalty, to both a Coverdell ESA and a QTP in the same year for the same beneficiary. Where can i file my 2012 taxes for free Table 7-2 summarizes many of the features of contributing to a Coverdell ESA. Where can i file my 2012 taxes for free When contributions considered made. Where can i file my 2012 taxes for free   Contributions made to a Coverdell ESA for the preceding tax year are considered to have been made on the last day of the preceding year. Where can i file my 2012 taxes for free They must be made by the due date (not including extensions) for filing your return for the preceding year. Where can i file my 2012 taxes for free   For example, if you make a contribution to a Coverdell ESA in February 2014, and you designate it as a contribution for 2013, you are considered to have made that contribution on December 31, 2013. Where can i file my 2012 taxes for free Contribution Limits There are two yearly limits: One on the total amount that can be contributed for each designated beneficiary in any year, and One on the amount that any individual can contribute for any one designated beneficiary for a year. Where can i file my 2012 taxes for free Limit for each designated beneficiary. Where can i file my 2012 taxes for free   For 2013, the total of all contributions to all Coverdell ESAs set up for the benefit of any one designated beneficiary cannot be more than $2,000. Where can i file my 2012 taxes for free This includes contributions (other than rollovers) to all the beneficiary's Coverdell ESAs from all sources. Where can i file my 2012 taxes for free Rollovers are discussed under Rollovers and Other Transfers , later. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free When Maria Luna was born in 2012, three separate Coverdell ESAs were set up for her, one by her parents, one by her grandfather, and one by her aunt. Where can i file my 2012 taxes for free In 2013, the total of all contributions to Maria's three Coverdell ESAs cannot be more than $2,000. Where can i file my 2012 taxes for free For example, if her grandfather contributed $2,000 to one of her Coverdell ESAs, no one else could contribute to any of her three accounts. Where can i file my 2012 taxes for free Or, if her parents contributed $1,000 and her aunt $600, her grandfather or someone else could contribute no more than $400. Where can i file my 2012 taxes for free These contributions could be put into any of Maria's Coverdell ESA accounts. Where can i file my 2012 taxes for free Limit for each contributor. Where can i file my 2012 taxes for free   Generally, you can contribute up to $2,000 for each designated beneficiary for 2013. Where can i file my 2012 taxes for free This is the most you can contribute for the benefit of any one beneficiary for the year, regardless of the number of Coverdell ESAs set up for the beneficiary. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free The facts are the same as in the previous example except that Maria Luna's older brother, Edgar, also has a Coverdell ESA. Where can i file my 2012 taxes for free If their grandfather contributed $2,000 to Maria's Coverdell ESA in 2013, he could also contribute $2,000 to Edgar's Coverdell ESA. Where can i file my 2012 taxes for free Reduced limit. Where can i file my 2012 taxes for free   Your contribution limit may be reduced. Where can i file my 2012 taxes for free If your MAGI (defined on this page) is between $95,000 and $110,000 (between $190,000 and $220,000 if filing a joint return), the $2,000 limit for each designated beneficiary is gradually reduced (see Figuring the limit , later). Where can i file my 2012 taxes for free If your MAGI is $110,000 or more ($220,000 or more if filing a joint return), you cannot contribute to anyone's Coverdell ESA. Where can i file my 2012 taxes for free Table 7-2. Where can i file my 2012 taxes for free Coverdell ESA Contributions at a Glance Do not rely on this table alone. Where can i file my 2012 taxes for free It provides only general highlights. Where can i file my 2012 taxes for free See the text for more complete explanations. Where can i file my 2012 taxes for free Question Answer Are contributions deductible? No. Where can i file my 2012 taxes for free What is the annual contribution limit per designated beneficiary? $2,000 for each designated beneficiary. Where can i file my 2012 taxes for free What if more than one Coverdell ESA has been opened for the same designated beneficiary? The annual contribution limit is $2,000 for each beneficiary, no matter how many Coverdell ESAs are set up for that beneficiary. Where can i file my 2012 taxes for free What if more than one individual makes contributions for the same designated beneficiary? The annual contribution limit is $2,000 per beneficiary, no matter how many individuals contribute. Where can i file my 2012 taxes for free Can contributions other than cash be made to a Coverdell ESA? No. Where can i file my 2012 taxes for free When must contributions stop? No contributions can be made to a beneficiary's Coverdell ESA after he or she reaches age 18, unless the beneficiary is a special needs beneficiary. Where can i file my 2012 taxes for free Modified adjusted gross income (MAGI). Where can i file my 2012 taxes for free   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return. Where can i file my 2012 taxes for free MAGI when using Form 1040A. Where can i file my 2012 taxes for free   If you file Form 1040A, your MAGI is the AGI on line 22 of that form. Where can i file my 2012 taxes for free MAGI when using Form 1040. Where can i file my 2012 taxes for free   If you file Form 1040, your MAGI is the AGI on line 38 of that form, modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Where can i file my 2012 taxes for free MAGI when using Form 1040NR. Where can i file my 2012 taxes for free   If you file Form 1040NR, your MAGI is the AGI on line 36 of that form. Where can i file my 2012 taxes for free MAGI when using Form 1040NR-EZ. Where can i file my 2012 taxes for free   If you file Form 1040NR-EZ, your MAGI is the AGI on line 10 of that form. Where can i file my 2012 taxes for free   If you have any of these adjustments, you can use Worksheet 7-1. Where can i file my 2012 taxes for free MAGI for a Coverdell ESA , later, to figure your MAGI for Form 1040. Where can i file my 2012 taxes for free Worksheet 7-1. Where can i file my 2012 taxes for free MAGI for a Coverdell ESA 1. Where can i file my 2012 taxes for free Enter your adjusted gross income  (Form 1040, line 38)   1. Where can i file my 2012 taxes for free   2. Where can i file my 2012 taxes for free Enter your foreign earned income exclusion and/or housing exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   2. Where can i file my 2012 taxes for free       3. Where can i file my 2012 taxes for free Enter your foreign housing deduction (Form 2555, line 50)   3. Where can i file my 2012 taxes for free         4. Where can i file my 2012 taxes for free Enter the amount of income from Puerto Rico you are excluding   4. Where can i file my 2012 taxes for free       5. Where can i file my 2012 taxes for free Enter the amount of income from American Samoa you are excluding (Form 4563, line 15)   5. Where can i file my 2012 taxes for free       6. Where can i file my 2012 taxes for free Add lines 2, 3, 4, and 5   6. Where can i file my 2012 taxes for free   7. Where can i file my 2012 taxes for free Add lines 1 and 6. Where can i file my 2012 taxes for free This is your  modified adjusted gross income   7. Where can i file my 2012 taxes for free   Figuring the limit. Where can i file my 2012 taxes for free    To figure the limit on the amount you can contribute for each designated beneficiary, multiply $2,000 by a fraction. Where can i file my 2012 taxes for free The numerator (top number) is your MAGI minus $95,000 ($190,000 if filing a joint return). Where can i file my 2012 taxes for free The denominator (bottom number) is $15,000 ($30,000 if filing a joint return). Where can i file my 2012 taxes for free Subtract the result from $2,000. Where can i file my 2012 taxes for free This is the amount you can contribute for each beneficiary. Where can i file my 2012 taxes for free You can use Worksheet 7-2. Where can i file my 2012 taxes for free Coverdell ESA Contribution Limit to figure the limit on contributions. Where can i file my 2012 taxes for free    Worksheet 7-2. Where can i file my 2012 taxes for free Coverdell ESA Contribution Limit 1. Where can i file my 2012 taxes for free Maximum contribution   1. Where can i file my 2012 taxes for free $2,000 2. Where can i file my 2012 taxes for free Enter your modified adjusted gross income (MAGI) for purposes of figuring the contribution limit to a Coverdell ESA (see definition or Worksheet 7-1, earlier)   2. Where can i file my 2012 taxes for free   3. Where can i file my 2012 taxes for free Enter $190,000 if married filing jointly; $95,000 for all other filers   3. Where can i file my 2012 taxes for free   4. Where can i file my 2012 taxes for free Subtract line 3 from line 2. Where can i file my 2012 taxes for free If zero or less, enter -0- on line 4, skip lines 5 through 7, and enter $2,000 on line 8   4. Where can i file my 2012 taxes for free   5. Where can i file my 2012 taxes for free Enter $30,000 if married filing jointly; $15,000 for all other filers   5. Where can i file my 2012 taxes for free     Note. Where can i file my 2012 taxes for free If the amount on line 4 is greater than or equal to the amount on line 5, stop here. Where can i file my 2012 taxes for free You are not allowed to contribute to a Coverdell ESA for 2013. Where can i file my 2012 taxes for free       6. Where can i file my 2012 taxes for free Divide line 4 by line 5 and enter the result as a decimal (rounded to at least 3 places)   6. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free 7. Where can i file my 2012 taxes for free Multiply line 1 by line 6   7. Where can i file my 2012 taxes for free   8. Where can i file my 2012 taxes for free Subtract line 7 from line 1   8. Where can i file my 2012 taxes for free   Note: The total Coverdell ESA contributions from all sources for the designated beneficiary during the tax year may not exceed $2,000. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free Paul, who is single, had a MAGI of $96,500 for 2013. Where can i file my 2012 taxes for free Paul can contribute up to $1,800 in 2013 for each beneficiary, as shown in the illustrated Worksheet 7-2, Coverdell ESA Contribution Limit–Illustrated. Where can i file my 2012 taxes for free Worksheet 7-2. Where can i file my 2012 taxes for free Coverdell ESA Contribution Limit—Illustrated 1. Where can i file my 2012 taxes for free Maximum contribution   1. Where can i file my 2012 taxes for free $2,000 2. Where can i file my 2012 taxes for free Enter your modified adjusted gross  income (MAGI) for purposes of figuring the contribution limit to a Coverdell ESA (see definition or Worksheet 7-1, earlier)   2. Where can i file my 2012 taxes for free 96,500 3. Where can i file my 2012 taxes for free Enter $190,000 if married filing jointly; $95,000 for all other filers   3. Where can i file my 2012 taxes for free 95,000 4. Where can i file my 2012 taxes for free Subtract line 3 from line 2. Where can i file my 2012 taxes for free If zero or less, enter -0- on line 4, skip lines 5 through 7, and enter $2,000 on line 8   4. Where can i file my 2012 taxes for free 1,500 5. Where can i file my 2012 taxes for free Enter $30,000 if married filing jointly; $15,000 for all other filers   5. Where can i file my 2012 taxes for free 15,000   Note. Where can i file my 2012 taxes for free If the amount on line 4 is greater than or equal to the amount on line 5,  stop here. Where can i file my 2012 taxes for free You are not allowed to  contribute to a Coverdell ESA for 2013. Where can i file my 2012 taxes for free       6. Where can i file my 2012 taxes for free Divide line 4 by line 5 and enter the result as a decimal (rounded to at least 3 places)   6. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free 100 7. Where can i file my 2012 taxes for free Multiply line 1 by line 6   7. Where can i file my 2012 taxes for free 200 8. Where can i file my 2012 taxes for free Subtract line 7 from line 1   8. Where can i file my 2012 taxes for free 1,800 Note: The total Coverdell ESA contributions from all sources for the designated beneficiary during the tax year may not exceed $2,000. Where can i file my 2012 taxes for free Additional Tax on Excess Contributions The beneficiary must pay a 6% excise tax each year on excess contributions that are in a Coverdell ESA at the end of the year. Where can i file my 2012 taxes for free Excess contributions are the total of the following two amounts. Where can i file my 2012 taxes for free Contributions to any designated beneficiary's Coverdell ESA for the year that are more than $2,000 (or, if less, the total of each contributor's limit for the year, as discussed earlier). Where can i file my 2012 taxes for free Excess contributions for the preceding year, reduced by the total of the following two amounts: Distributions (other than those rolled over as discussed later) during the year, and The contribution limit for the current year minus the amount contributed for the current year. Where can i file my 2012 taxes for free Exceptions. Where can i file my 2012 taxes for free   The excise tax does not apply if excess contributions made during 2013 (and any earnings on them) are distributed before the first day of the sixth month of the following tax year (June 1, 2014, for a calendar year taxpayer). Where can i file my 2012 taxes for free   However, you must include the distributed earnings in gross income for the year in which the excess contribution was made. Where can i file my 2012 taxes for free You should receive Form 1099-Q, Payments From Qualified Education Programs, from each institution from which excess contributions were distributed. Where can i file my 2012 taxes for free Box 2 of that form will show the amount of earnings on your excess contributions. Where can i file my 2012 taxes for free Code “2” or “3” entered in the blank box below boxes 5 and 6 indicate the year in which the earnings are taxable. Where can i file my 2012 taxes for free See Instructions for Recipient on the back of copy B of your Form 1099-Q. Where can i file my 2012 taxes for free Enter the amount of earnings on line 21 of Form 1040 (or Form 1040NR) for the applicable tax year. Where can i file my 2012 taxes for free For more information, see Taxable Distributions , later. Where can i file my 2012 taxes for free   The excise tax does not apply to any rollover contribution. Where can i file my 2012 taxes for free Note. Where can i file my 2012 taxes for free Contributions made in one year for the preceding tax year are considered to have been made on the last day of the preceding year. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free In 2012, Greta's parents and grandparents contributed a total of $2,300 to Greta's Coverdell ESA— an excess contribution of $300. Where can i file my 2012 taxes for free Because Greta did not withdraw the excess before June 1, 2013, she had to pay an additional tax of $18 (6% × $300) when she filed her 2012 tax return. Where can i file my 2012 taxes for free In 2013, excess contributions of $500 were made to Greta's account, however, she withdrew $250 from that account to use for qualified education expenses. Where can i file my 2012 taxes for free Using the steps shown earlier under Additional Tax on Excess Contributions , Greta figures the excess contribution in her account at the end of 2013 as follows. Where can i file my 2012 taxes for free (1)   $500 excess contributions made in 2013     + (2)   $300 excess contributions in ESA at end of 2012     − (2a)   $250 distribution during 2013         $550 excess at end of 2013   × 6%=$33           If Greta limits 2014 contributions to $1,450 ($2,000 maximum allowed − $550 excess contributions from 2013), she will not owe any additional tax in 2014 for excess contributions. Where can i file my 2012 taxes for free Figuring and reporting the additional tax. Where can i file my 2012 taxes for free   You figure this excise tax in Part V of Form 5329. Where can i file my 2012 taxes for free Report the additional tax on Form 1040, line 58 (or Form 1040NR, line 56). Where can i file my 2012 taxes for free Rollovers and Other Transfers Assets can be rolled over from one Coverdell ESA to another or the designated beneficiary can be changed. Where can i file my 2012 taxes for free The beneficiary's interest can be transferred to a spouse or former spouse because of divorce. Where can i file my 2012 taxes for free Rollovers Any amount distributed from a Coverdell ESA is not taxable if it is rolled over to another Coverdell ESA for the benefit of the same beneficiary or a member of the beneficiary's family (including the beneficiary's spouse) who is under age 30. Where can i file my 2012 taxes for free This age limitation does not apply if the new beneficiary is a special needs beneficiary. Where can i file my 2012 taxes for free An amount is rolled over if it is paid to another Coverdell ESA within 60 days after the date of the distribution. Where can i file my 2012 taxes for free Do not report qualifying rollovers (those that meet the above criteria) anywhere on Form 1040 or 1040NR. Where can i file my 2012 taxes for free These are not taxable distributions. Where can i file my 2012 taxes for free Members of the beneficiary's family. Where can i file my 2012 taxes for free   For these purposes, the beneficiary's family includes the beneficiary's spouse and the following other relatives of the beneficiary. Where can i file my 2012 taxes for free Son, daughter, stepchild, foster child, adopted child, or a descendant of any of them. Where can i file my 2012 taxes for free Brother, sister, stepbrother, or stepsister. Where can i file my 2012 taxes for free Father or mother or ancestor of either. Where can i file my 2012 taxes for free Stepfather or stepmother. Where can i file my 2012 taxes for free Son or daughter of a brother or sister. Where can i file my 2012 taxes for free Brother or sister of father or mother. Where can i file my 2012 taxes for free Son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law. Where can i file my 2012 taxes for free The spouse of any individual listed above. Where can i file my 2012 taxes for free First cousin. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free When Aaron graduated from college last year he had $5,000 left in his Coverdell ESA. Where can i file my 2012 taxes for free He wanted to give this money to his younger sister, who was still in high school. Where can i file my 2012 taxes for free In order to avoid paying tax on the distribution of the amount remaining in his account, Aaron contributed the same amount to his sister's Coverdell ESA within 60 days of the distribution. Where can i file my 2012 taxes for free Only one rollover per Coverdell ESA is allowed during the 12-month period ending on the date of the payment or distribution. Where can i file my 2012 taxes for free This rule does not apply to the rollover of a military death gratuity or payment from Servicemembers' Group Life Insurance (SGLI). Where can i file my 2012 taxes for free Military death gratuity. Where can i file my 2012 taxes for free   If you received a military death gratuity or a payment from Servicemembers' Group Life Insurance (SGLI), you may roll over all or part of the amount received to one or more Coverdell ESAs for the benefit of members of the beneficiary's family (see Members of the beneficiary's family , earlier). Where can i file my 2012 taxes for free Such payments are made to an eligible survivor upon the death of a member of the armed forces. Where can i file my 2012 taxes for free The contribution to a Coverdell ESA from survivor benefits received cannot be made later than 1 year after the date on which you receive the gratuity or SGLI payment. Where can i file my 2012 taxes for free   This rollover contribution is not subject to (but is in addition to) the contribution limits discussed earlier under Contribution Limits . Where can i file my 2012 taxes for free The amount you roll over cannot exceed the total survivor benefits you received, reduced by contributions from these benefits to a Roth IRA or other Coverdell ESAs. Where can i file my 2012 taxes for free   The amount contributed from the survivor benefits is treated as part of your basis (cost) in the Coverdell ESA, and will not be taxed when distributed. Where can i file my 2012 taxes for free See Distributions , later. Where can i file my 2012 taxes for free The limit of one rollover per Coverdell ESA during a 12-month period does not apply to a military death gratuity or SGLI payment. Where can i file my 2012 taxes for free Changing the Designated Beneficiary The designated beneficiary can be changed. Where can i file my 2012 taxes for free See Members of the beneficiary's family , earlier. Where can i file my 2012 taxes for free There are no tax consequences if, at the time of the change, the new beneficiary is under age 30 or is a special needs beneficiary. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free Assume the same situation for Aaron as in the last example (see Rollovers , earlier). Where can i file my 2012 taxes for free Instead of closing his Coverdell ESA and paying the distribution into his sister's Coverdell ESA, Aaron could have instructed the trustee of his account to simply change the name of the beneficiary on his account to that of his sister. Where can i file my 2012 taxes for free Transfer Because of Divorce If a spouse or former spouse receives a Coverdell ESA under a divorce or separation instrument, it is not a taxable transfer. Where can i file my 2012 taxes for free After the transfer, the spouse or former spouse treats the Coverdell ESA as his or her own. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free In their divorce settlement, Peg received her ex-husband's Coverdell ESA. Where can i file my 2012 taxes for free In this process, the account was transferred into her name. Where can i file my 2012 taxes for free Peg now treats the funds in this Coverdell ESA as if she were the original owner. Where can i file my 2012 taxes for free Distributions The designated beneficiary of a Coverdell ESA can take a distribution at any time. Where can i file my 2012 taxes for free Whether the distributions are tax free depends, in part, on whether the distributions are equal to or less than the amount of Adjusted qualified education expenses (defined later) that the beneficiary has in the same tax year. Where can i file my 2012 taxes for free See Table 7-3, Coverdell ESA Distributions at a Glance, for highlights. Where can i file my 2012 taxes for free Table 7-3. Where can i file my 2012 taxes for free Coverdell ESA Distributions at a Glance Do not rely on this table alone. Where can i file my 2012 taxes for free It provides only general highlights. Where can i file my 2012 taxes for free See the text for definitions of terms in bold type and for more complete explanations. Where can i file my 2012 taxes for free Question Answer Is a distribution from a Coverdell ESA to pay for a designated beneficiary's qualified education expenses tax free? Generally, yes, to the extent the amount of the distribution is not more than the designated beneficiary's adjusted qualified education expenses. Where can i file my 2012 taxes for free After the designated beneficiary completes his or her education at an eligible educational institution, can amounts remaining in the Coverdell ESA be distributed? Yes. Where can i file my 2012 taxes for free Amounts must be distributed when the designated beneficiary reaches age 30, unless he or she is a special needs beneficiary. Where can i file my 2012 taxes for free Also, certain transfers to members of the beneficiary's family are permitted. Where can i file my 2012 taxes for free Does the designated beneficiary need to be enrolled for a minimum number of courses to take a tax-free distribution? No. Where can i file my 2012 taxes for free Adjusted qualified education expenses. Where can i file my 2012 taxes for free   To determine if total distributions for the year are more than the amount of qualified education expenses, reduce total qualified education expenses by any tax-free educational assistance. Where can i file my 2012 taxes for free Tax-free educational assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Where can i file my 2012 taxes for free The amount you get by subtracting tax-free educational assistance from your total qualified education expenses is your adjusted qualified education expenses. Where can i file my 2012 taxes for free Tax-Free Distributions Generally, distributions are tax free if they are not more than the beneficiary's adjusted qualified education expenses for the year. Where can i file my 2012 taxes for free Do not report tax-free distributions (including qualifying rollovers) on your tax return. Where can i file my 2012 taxes for free Taxable Distributions A portion of the distributions is generally taxable to the beneficiary if the total distributions are more than the beneficiary's adjusted qualified education expenses for the year. Where can i file my 2012 taxes for free Excess distribution. Where can i file my 2012 taxes for free   This is the part of the total distribution that is more than the beneficiary's adjusted qualified education expenses for the year. Where can i file my 2012 taxes for free Earnings and basis. Where can i file my 2012 taxes for free   You will receive a Form 1099-Q for each of the Coverdell ESAs from which money was distributed in 2013. Where can i file my 2012 taxes for free The amount of your gross distribution will be shown in box 1. Where can i file my 2012 taxes for free For 2013, instead of dividing the gross distribution between your earnings (box 2) and your basis (already-taxed amount) (box 3), the payer or trustee may report the fair market value (account balance) of the Coverdell ESA as of December 31, 2013. Where can i file my 2012 taxes for free This will be shown in the blank box below boxes 5 and 6. Where can i file my 2012 taxes for free   The amount contributed from survivor benefits (see Military death gratuity , earlier) is treated as part of your basis and will not be taxed when distributed. Where can i file my 2012 taxes for free Figuring the Taxable Portion of a Distribution The taxable portion is the amount of the excess distribution that represents earnings that have accumulated tax free in the account. Where can i file my 2012 taxes for free Figure the taxable portion for 2013 as shown in the following steps. Where can i file my 2012 taxes for free Multiply the total amount distributed by a fraction. Where can i file my 2012 taxes for free The numerator is the basis (contributions not previously distributed) at the end of 2012 plus total contributions for 2013 and the denominator is the value (balance) of the account at the end of 2013 plus the amount distributed during 2013. Where can i file my 2012 taxes for free Subtract the amount figured in (1) from the total amount distributed during 2013. Where can i file my 2012 taxes for free The result is the amount of earnings included in the distribution(s). Where can i file my 2012 taxes for free Multiply the amount of earnings figured in (2) by a fraction. Where can i file my 2012 taxes for free The numerator is the adjusted qualified education expenses paid during 2013 and the denominator is the total amount distributed during 2013. Where can i file my 2012 taxes for free Subtract the amount figured in (3) from the amount figured in (2). Where can i file my 2012 taxes for free The result is the amount the beneficiary must include in income. Where can i file my 2012 taxes for free The taxable amount must be reported on Form 1040 or Form 1040NR, line 21. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free You received an $850 distribution from your Coverdell ESA, to which $1,500 had been contributed before 2013. Where can i file my 2012 taxes for free There were no contributions in 2013. Where can i file my 2012 taxes for free This is your first distribution from the account, so your basis in the account on December 31, 2012, was $1,500. Where can i file my 2012 taxes for free The value (balance) of your account on December 31, 2013, was $950. Where can i file my 2012 taxes for free You had $700 of adjusted qualified education expenses (AQEE) for the year. Where can i file my 2012 taxes for free Using the steps in Figuring the Taxable Portion of a Distribution , earlier, figure the taxable portion of your distribution as follows. Where can i file my 2012 taxes for free   1. Where can i file my 2012 taxes for free $850 (distribution) × $1,500 basis + $0 contributions  $950 value + $850 distribution       =$708 (basis portion of distribution)     2. Where can i file my 2012 taxes for free $850 (distribution)−$708 (basis portion of distribution)     =$142 (earnings included in distribution)   3. Where can i file my 2012 taxes for free $142 (earnings) × $700 AQEE  $850 distribution           =$117 (tax-free earnings)     4. Where can i file my 2012 taxes for free $142 (earnings)−$117 (tax-free earnings)=$25 (taxable earnings)                 You must include $25 in income as distributed earnings not used for qualified education expenses. Where can i file my 2012 taxes for free Report this amount on Form 1040, line 21, listing the type and amount of income on the dotted line. Where can i file my 2012 taxes for free Worksheet 7-3, Coverdell ESA–Taxable Distributions and Basis , at the end of this chapter, can help you figure your adjusted qualified education expenses, how much of your distribution must be included in income, and the remaining basis in your Coverdell ESA(s). Where can i file my 2012 taxes for free Coordination With American Opportunity and Lifetime Learning Credits The American opportunity or lifetime learning credit can be claimed in the same year the beneficiary takes a tax-free distribution from a Coverdell ESA, as long as the same expenses are not used for both benefits. Where can i file my 2012 taxes for free This means the beneficiary must reduce qualified higher education expenses by tax-free educational assistance, and then further reduce them by any expenses taken into account in determining an American opportunity or lifetime learning credit. Where can i file my 2012 taxes for free Example. Where can i file my 2012 taxes for free Derek Green had $5,800 of qualified higher education expenses for 2013, his first year in college. Where can i file my 2012 taxes for free He paid his college expenses from the following sources. Where can i file my 2012 taxes for free     Partial tuition scholarship (tax free) $1,500     Coverdell ESA distribution 1,000     Gift from parents 2,100     Earnings from part-time job 1,200           Of his $5,800 of qualified higher education expenses, $4,000 was tuition and related expenses that also qualified for an American opportunity credit. Where can i file my 2012 taxes for free Derek's parents claimed a $2,500 American opportunity credit (based on $4,000 expenses) on their tax return. Where can i file my 2012 taxes for free Before Derek can determine the taxable portion of his Coverdell ESA distribution, he must reduce his total qualified higher education expenses. Where can i file my 2012 taxes for free     Total qualified higher education expenses $5,800     Minus: Tax-free educational assistance −1,500     Minus: Expenses taken into account in  figuring American opportunity credit − 4,000     Equals: Adjusted qualified higher education  expenses (AQHEE) $ 300           Since the adjusted qualified higher education expenses ($300) are less than the Coverdell ESA distribution ($1,000), part of the distribution will be taxable. Where can i file my 2012 taxes for free The balance in Derek's account was $1,800 on December 31, 2013. Where can i file my 2012 taxes for free Prior to 2013, $2,100 had been contributed to this account. Where can i file my 2012 taxes for free Contributions for 2013 totaled $400. Where can i file my 2012 taxes for free Using the four steps outlined earlier, Derek figures the taxable portion of his distribution as shown below. Where can i file my 2012 taxes for free   1. Where can i file my 2012 taxes for free $1,000 (distribution) × $2,100 basis + $400 contributions  $1,800 value + $1,000 distribution           =$893 (basis portion of distribution)     2. Where can i file my 2012 taxes for free $1,000 (distribution)−$893 (basis portion of distribution)     = $107 (earnings included in distribution)   3. Where can i file my 2012 taxes for free $107 (earnings) × $300 AQHEE  $1,000 distribution       =$32 (tax-free earnings)     4. Where can i file my 2012 taxes for free $107 (earnings)−$32 (tax-free earnings)=$75 (taxable earnings)                 Derek must include $75 in income (Form 1040, line 21). Where can i file my 2012 taxes for free This is the amount of distributed earnings not used for adjusted qualified higher education expenses. Where can i file my 2012 taxes for free Coordination With Qualified Tuition Program (QTP) Distributions If a designated beneficiary receives distributions from both a Coverdell ESA and a QTP in the same year, and the total distribution is more than the beneficiary's adjusted qualified higher education expenses, those expenses must be allocated between the distribution from the Coverdell ESA and the distribution from the QTP before figuring how much of each distribution is taxable. Where can i file my 2012 taxes for free The following two examples illustrate possible allocations. Where can i file my 2012 taxes for free Example 1. Where can i file my 2012 taxes for free In 2013, Beatrice graduated from high school and began her first semester of college. Where can i file my 2012 taxes for free That year, she had $1,000 of qualified elementary and secondary education expenses (QESEE) for high school and $3,000 of qualified higher education expenses (QHEE) for college. Where can i file my 2012 taxes for free To pay these expenses, Beatrice withdrew $800 from her Coverdell ESA and $4,200 from her QTP. Where can i file my 2012 taxes for free No one claimed Beatrice as a dependent, nor was she eligible for an education credit. Where can i file my 2012 taxes for free She did not receive any tax-free educational assistance in 2013. Where can i file my 2012 taxes for free Beatrice must allocate her total qualified education expenses between the two distributions. Where can i file my 2012 taxes for free Beatrice knows that tax-free treatment will be available if she applies her $800 Coverdell ESA distribution toward her $1,000 of qualified education expenses for high school. Where can i file my 2012 taxes for free The qualified expenses are greater than the distribution, making the $800 Coverdell ESA distribution tax free. Where can i file my 2012 taxes for free Next, Beatrice matches her $4,200 QTP distribution to her $3,000 of QHEE, and finds she has an excess QTP distribution of $1,200 ($4,200 QTP − $3,000 QHEE). Where can i file my 2012 taxes for free She cannot use the extra $200 of high school expenses (from (1) above) against the QTP distribution because those expenses do not qualify a QTP for tax-free treatment. Where can i file my 2012 taxes for free Finally, Beatrice figures the taxable and tax-free portions of her QTP distribution based on her $3,000 of QHEE. Where can i file my 2012 taxes for free (See Figuring the Taxable Portion of a Distribution in chapter 8, Qualified Tuition Program for more information. Where can i file my 2012 taxes for free ) Example 2. Where can i file my 2012 taxes for free Assume the same facts as in Example 1 , except that Beatrice withdrew $1,800 from her Coverdell ESA and $3,200 from her QTP. Where can i file my 2012 taxes for free In this case, she allocates her qualified education expenses as follows. Where can i file my 2012 taxes for free Using the same reasoning as in Example 1, Beatrice matches $1,000 of her Coverdell ESA distribution to her $1,000 of QESEE—she has $800 of her distribution remaining. Where can i file my 2012 taxes for free Because higher education expenses can also qualify a Coverdell ESA distribution for tax-free treatment, Beatrice allocates her $3,000 of QHEE between the remaining $800 Coverdell ESA and the $3,200 QTP distributions ($4,000 total). Where can i file my 2012 taxes for free   $3,000 QHEE × $800 ESA distribution  $4,000 total distribution = $600 QHEE (ESA)     $3,000 QHEE × $3,200 QTP distribution  $4,000 total distribution = $2,400 QHEE (QTP)   Beatrice then figures the taxable part of her: Coverdell ESA distribution based on qualified education expenses of $1,600 ($1,000 QESEE + $600 QHEE). Where can i file my 2012 taxes for free See Figuring the Taxable Portion of a Distribution , earlier, in this chapter. Where can i file my 2012 taxes for free   QTP distribution based on her $2,400 of QHEE (see Figuring the Taxable Portion of a Distribution in chapter 8, Qualified Tuition Program). Where can i file my 2012 taxes for free The above examples show two types of allocation between distributions from a Coverdell ESA and a QTP. Where can i file my 2012 taxes for free However, you do not have to allocate your expenses in the same way. Where can i file my 2012 taxes for free You can use any reasonable method. Where can i file my 2012 taxes for free Losses on Coverdell ESA Investments If you have a loss on your investment in a Coverdell ESA, you may be able to deduct the loss on your income tax return. Where can i file my 2012 taxes for free You can deduct the loss only when all amounts from that account have been distributed and the total distributions are less than your unrecovered basis. Where can i file my 2012 taxes for free Your basis is the total amount of contributions to that Coverdell ESA. Where can i file my 2012 taxes for free You claim the loss as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23 (Schedule A (Form 1040NR), line 9), subject to the 2%-of-adjusted-gross-income limit. Where can i file my 2012 taxes for free If you have distributions from more than one Coverdell ESA account during a year, you must combine the information (amount of distribution, basis, etc. Where can i file my 2012 taxes for free ) from all such accounts in order to determine your taxable earnings for the year. Where can i file my 2012 taxes for free By doing this, the loss from one ESA account reduces the distributed earnings (if any) from any other ESA account. Where can i file my 2012 taxes for free For examples of the calculation, see Losses on QTP Investments in chapter 8, Qualified Tuition Program. Where can i file my 2012 taxes for free Additional Tax on Taxable Distributions Generally, if you receive a taxable distribution, you also must pay a 10% additional tax on the amount included in income. Where can i file my 2012 taxes for free Exceptions. Where can i file my 2012 taxes for free   The 10% additional tax does not apply to distributions: Paid to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary. Where can i file my 2012 taxes for free Made because the designated beneficiary is disabled. Where can i file my 2012 taxes for free A person is considered to be disabled if he or she shows proof that he or she cannot do any substantial gainful activity because of his or her physical or mental condition. Where can i file my 2012 taxes for free A physician must determine that his or her condition can be expected to result in death or to be of long-continued and indefinite duration. Where can i file my 2012 taxes for free Included in income because the designated beneficiary received: A tax-free scholarship or fellowship (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), or Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Where can i file my 2012 taxes for free Made on account of the attendance of the designated beneficiary at a U. Where can i file my 2012 taxes for free S. Where can i file my 2012 taxes for free military academy (such as the USMA at West Point). Where can i file my 2012 taxes for free This exception applies only to the extent that the amount of the distribution does not exceed the costs of advanced education (as defined in section 2005(d)(3) of title 10 of the U. Where can i file my 2012 taxes for free S. Where can i file my 2012 taxes for free Code) attributable to such attendance. Where can i file my 2012 taxes for free Included in income only because the qualified education expenses were taken into account in determining the American opportunity or lifetime learning credit (see Coordination With American Opportunity and Lifetime Learning Credits , earlier). Where can i file my 2012 taxes for free Made before June 1, 2014, of an excess 2013 contribution (and any earnings on it). Where can i file my 2012 taxes for free The distributed earnings must be included in gross income for the year in which the excess contribution was made. Where can i file my 2012 taxes for free Exception (3) applies only to the extent the distribution is not more than the scholarship, allowance, or payment. Where can i file my 2012 taxes for free Figuring the additional tax. Where can i file my 2012 taxes for free    Use Part II of Form 5329, to figure any additional tax. Where can i file my 2012 taxes for free Report the amount on Form 1040, line 58, or Form 1040NR, line 56. Where can i file my 2012 taxes for free When Assets Must Be Distributed Any assets remaining in a Coverdell ESA must be distributed when either one of the following two events occurs. Where can i file my 2012 taxes for free The designated beneficiary reaches age 30. Where can i file my 2012 taxes for free In this case, the remaining assets must be distributed within 30 days after the beneficiary reaches age 30. Where can i file my 2012 taxes for free However, this rule does not apply if the beneficiary is a special needs beneficiary. Where can i file my 2012 taxes for free The designated beneficiary dies before reaching age 30. Where can i file my 2012 taxes for free In this case, the remaining assets must generally be distributed within 30 days after the date of death. Where can i file my 2012 taxes for free Exception for Transfer to Surviving Spouse or Family Member If a Coverdell ESA is transferred to a surviving spouse or other family member as the result of the death of the designated beneficiary, the Coverdell ESA retains its status. Where can i file my 2012 taxes for free (“Family member” was defined earlier under Rollovers . Where can i file my 2012 taxes for free ) This means the spouse or other family member can treat the Coverdell ESA as his or her own and does not need to withdraw the assets until he or she reaches age 30. Where can i file my 2012 taxes for free This age limitation does not apply if the new beneficiary is a special needs beneficiary. Where can i file my 2012 taxes for free There are no tax consequences as a result of the transfer. Where can i file my 2012 taxes for free How To Figure the Taxable Earnings When a total distribution is made because the designated beneficiary either reached age 30 or died, the earnings that accumulated tax free in the account must be included in taxable income. Where can i file my 2012 taxes for free You determine these earnings as shown in the following two steps. Where can i file my 2012 taxes for free Multiply the amount distributed by a fraction. Where can i file my 2012 taxes for free The numerator is the basis (contributions not previously distributed) at the end of 2012 plus total contributions for 2013 and the denominator is the balance in the account at the end of 2013 plus the amount distributed during 2013. Where can i file my 2012 taxes for free Subtract the amount figured in (1) from the total amount distributed during 2013. Where can i file my 2012 taxes for free The result is the amount of earnings included in the distribution. Where can i file my 2012 taxes for free For an example, see steps (1) and (2) of the Example under Figuring the Taxable Portion of a Distribution, earlier. Where can i file my 2012 taxes for free The beneficiary or other person receiving the distribution must report this amount on Form 1040, line 21, or Form 1040NR, line 21, listing the type and amount of income on the dotted line. Where can i file my 2012 taxes for free Worksheet 7-3 Instructions. Where can i file my 2012 taxes for free Coverdell ESA—Taxable Distributions and Basis Line G. Where can i file my 2012 taxes for free Enter the total distributions received from all Coverdell ESAs during 2013. Where can i file my 2012 taxes for free Do not include amounts rolled over to another ESA within 60 days (only one rollover is allowed during any 12-month period). Where can i file my 2012 taxes for free Also, do not include excess contributions that were distributed with the related earnings (or less any loss) before the first day of the sixth month of the tax year following the year for which the contributions were made. Where can i file my 2012 taxes for free Line 2. Where can i file my 2012 taxes for free Your basis (amount already taxed) in this Coverdell ESA as of December 31, 2012, is the total of:   •All contributions to this Coverdell ESA before 2013 •Minus the tax-free portion of any distributions from this Coverdell ESA before 2013. Where can i file my 2012 taxes for free   If your last distribution from this Coverdell ESA was before 2013, you must start with the basis in your account as of the end of the last year in which you took a distribution. Where can i file my 2012 taxes for free For years before 2002, you can find that amount on the last line of the worksheet in the Instructions for Form 8606, Nondeductible IRAs, that you completed for that year. Where can i file my 2012 taxes for free For years after 2001, you can find that amount by using the ending basis from the worksheet in Publication 970 for that year. Where can i file my 2012 taxes for free You can determine your basis in this Coverdell ESA as of December 31, 2012, by adding to the basis as of the end of that year any contributions made to that account after the year of the distribution and before 2013. Where can i file my 2012 taxes for free Line 4. Where can i file my 2012 taxes for free Enter the total distributions received from this Coverdell ESA in 2013. Where can i file my 2012 taxes for free Do not include amounts rolled over to another Coverdell ESA within 60 days (only one rollover is allowed during any 12-month period). Where can i file my 2012 taxes for free   Also, do not include excess contributions that were distributed with the related earnings (or less any loss) before the first day of the sixth month of the tax year following the year of the contributions. Where can i file my 2012 taxes for free Line 7. Where can i file my 2012 taxes for free Enter the total value of this Coverdell ESA as of December 31, 2013, plus any outstanding rollovers contributed to the account after 2012, but before the end of the 60-day rollover period. Where can i file my 2012 taxes for free A statement should be sent to you by January 31, 2014, for this Coverdell ESA showing the value on December 31, 2013. Where can i file my 2012 taxes for free   A rollover is a tax-free withdrawal from one Coverdell ESA that is contributed to another Coverdell ESA. Where can i file my 2012 taxes for free An outstanding rollover is any amount withdrawn within 60 days before the end of 2013 (November 2 through December 31) that was rolled over after December 31, 2013, but within the 60-day rollover period. Where can i file my 2012 taxes for free Worksheet 7-3. Where can i file my 2012 taxes for free Coverdell ESA—Taxable Distributions and Basis How to complete this worksheet. Where can i file my 2012 taxes for free • • • Complete Part I, lines A through H, on only one worksheet. Where can i file my 2012 taxes for free  Complete a separate Part II, lines 1 through 15, for each of your Coverdell ESAs. Where can i file my 2012 taxes for free  Complete Part III, the Summary (line 16), on only one worksheet. Where can i file my 2012 taxes for free Part I. Where can i file my 2012 taxes for free Qualified Education Expenses (Complete for total expenses)       A. Where can i file my 2012 taxes for free Enter your total qualified education expenses for 2013   A. Where can i file my 2012 taxes for free   B. Where can i file my 2012 taxes for free Enter those qualified education expenses paid for with tax-free educational assistance (for example, tax-free scholarships, veterans' educational benefits, Pell grants, employer-provided educational assistance)   B. Where can i file my 2012 taxes for free         C. Where can i file my 2012 taxes for free Enter those qualified higher education expenses deducted on Schedule C or C-EZ (Form 1040). Where can i file my 2012 taxes for free Schedule F (Form 1040), or as a miscellaneous itemized deduction on Schedule A (Form 1040 or 1040NR)   C. Where can i file my 2012 taxes for free         D. Where can i file my 2012 taxes for free Enter those qualified higher education expenses on which  an American opportunity or lifetime learning credit was based   D. Where can i file my 2012 taxes for free         E. Where can i file my 2012 taxes for free Add lines B, C, and D   D. Where can i file my 2012 taxes for free   F. Where can i file my 2012 taxes for free Subtract line E from line A. Where can i file my 2012 taxes for free This is your adjusted qualified education expense for 2013   E. Where can i file my 2012 taxes for free   G. Where can i file my 2012 taxes for free Enter your total distributions from all Coverdell ESAs during 2013. Where can i file my 2012 taxes for free Do not include rollovers  or the return of excess contributions (see instructions)   F. Where can i file my 2012 taxes for free   H. Where can i file my 2012 taxes for free Divide line F by line G. Where can i file my 2012 taxes for free Enter the result as a decimal (rounded to at least 3 places). Where can i file my 2012 taxes for free If the  result is 1. Where can i file my 2012 taxes for free 000 or more, enter 1. Where can i file my 2012 taxes for free 000   G. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free Part II. Where can i file my 2012 taxes for free Taxable Distributions and Basis (Complete separately for each account) 1. Where can i file my 2012 taxes for free Enter the amount contributed to this Coverdell ESA for 2013, including contributions made for 2013 from January 1, 2014, through April 15, 2014. Where can i file my 2012 taxes for free Do not include rollovers or the return of excess contributions   1. Where can i file my 2012 taxes for free   2. Where can i file my 2012 taxes for free Enter your basis in this Coverdell ESA as of December 31, 2012 (see instructions)   2. Where can i file my 2012 taxes for free   3. Where can i file my 2012 taxes for free Add lines 1 and 2   3. Where can i file my 2012 taxes for free   4. Where can i file my 2012 taxes for free Enter the total distributions from this Coverdell ESA during 2013. Where can i file my 2012 taxes for free Do not include rollovers  or the return of excess contributions (see instructions)   4. Where can i file my 2012 taxes for free   5. Where can i file my 2012 taxes for free Multiply line 4 by line H. Where can i file my 2012 taxes for free This is the amount of adjusted qualified  education expense attributable to this Coverdell ESA   5. Where can i file my 2012 taxes for free         6. Where can i file my 2012 taxes for free Subtract line 5 from line 4   6. Where can i file my 2012 taxes for free         7. Where can i file my 2012 taxes for free Enter the total value of this Coverdell ESA as of December 31, 2013,  plus any outstanding rollovers (see instructions)   7. Where can i file my 2012 taxes for free         8. Where can i file my 2012 taxes for free Add lines 4 and 7   8. Where can i file my 2012 taxes for free         9. Where can i file my 2012 taxes for free Divide line 3 by line 8. Where can i file my 2012 taxes for free Enter the result as a decimal (rounded to  at least 3 places). Where can i file my 2012 taxes for free If the result is 1. Where can i file my 2012 taxes for free 000 or more, enter 1. Where can i file my 2012 taxes for free 000   9. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free       10. Where can i file my 2012 taxes for free Multiply line 4 by line 9. Where can i file my 2012 taxes for free This is the amount of basis allocated to your  distributions, and is tax free   10. Where can i file my 2012 taxes for free     Note. Where can i file my 2012 taxes for free If line 6 is zero, skip lines 11 through 13, enter -0- on line 14, and go to line 15. Where can i file my 2012 taxes for free       11. Where can i file my 2012 taxes for free Subtract line 10 from line 4   11. Where can i file my 2012 taxes for free   12. Where can i file my 2012 taxes for free Divide line 5 by line 4. Where can i file my 2012 taxes for free Enter the result as a decimal (rounded to  at least 3 places). Where can i file my 2012 taxes for free If the result is 1. Where can i file my 2012 taxes for free 000 or more, enter 1. Where can i file my 2012 taxes for free 000   12. Where can i file my 2012 taxes for free . Where can i file my 2012 taxes for free       13. Where can i file my 2012 taxes for free Multiply line 11 by line 12. Where can i file my 2012 taxes for free This is the amount of qualified education  expenses allocated to your distributions, and is tax free   13. Where can i file my 2012 taxes for free   14. Where can i file my 2012 taxes for free Subtract line 13 from line 11. Where can i file my 2012 taxes for free This is the portion of the distributions from this  Coverdell ESA in 2013 that you must include in income   14. Where can i file my 2012 taxes for free   15. Where can i file my 2012 taxes for free Subtract line 10 from line 3. Where can i file my 2012 taxes for free This is your basis in this Coverdell ESA as of December 31, 2013   15. Where can i file my 2012 taxes for free   Part III. Where can i file my 2012 taxes for free Summary (Complete only once)       16. Where can i file my 2012 taxes for free Taxable amount. Where can i file my 2012 taxes for free Add together all amounts on line 14 for all your Coverdell ESAs. Where can i file my 2012 taxes for free Enter here  and include on Form 1040, line 21, or Form 1040NR, line 21, listing the type and amount of income on the dotted line   16. Where can i file my 2012 taxes for free   Prev  Up  Next   Home   More Online Publications