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Www Irs Govefile

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Www Irs Govefile

Www irs govefile Index A Accelerated Cost Recovery System (ACRS), MACRS Depreciation (see also Modified Accelerated Cost Recovery System (MACRS)) Effective date, Depreciation Methods Accounting methods Accrual method, Accrual method. Www irs govefile Cash method, Cash method. Www irs govefile Change of method, Changing your accounting method. Www irs govefile Constructive receipt of income, Cash method. Www irs govefile , More information. Www irs govefile Accrual method taxpayers, Accrual method. Www irs govefile ACRS (Accelerated Cost Recovery System) Effective date, Depreciation Methods Active participation, Active participation. Www irs govefile Activities not for profit, Duplex. Www irs govefile Additions to property, Additions or improvements to property. Www irs govefile (see also Improvements) Basis, Increases to basis. Www irs govefile , Additions or improvements. Www irs govefile MACRS recovery period, Additions or improvements to property. Www irs govefile Adjusted basis MACRS depreciation, Adjusted Basis Adjusted gross income (AGI) Modified (see Modified adjusted gross income (MAGI)) Advance rent, Advance rent. Www irs govefile Security deposits, Security deposits. Www irs govefile Advertising, Types of Expenses Allocation of expenses Change of property to rental use, Payments added to capital account. Www irs govefile How to divide expenses, Dividing Expenses Part of property rented, Renting Part of Property, How to divide expenses. Www irs govefile Personal use of rental property, Personal use of rental property. Www irs govefile , Personal Use of Dwelling Unit (Including Vacation Home) Alternative Depreciation System (ADS) Election of, Electing ADS MACRS, MACRS Depreciation, Table 2-2d. Www irs govefile Alternative minimum tax (AMT) Accelerated depreciation methods, Alternative minimum tax (AMT). Www irs govefile Amended returns, Filing an amended return. Www irs govefile Apartments Basement apartments, Examples. Www irs govefile Dwelling units, Dwelling unit. Www irs govefile Appraisal fees, Settlement fees and other costs. Www irs govefile Assessments for maintenance, Assessments for local improvements. Www irs govefile Assessments, local (see Local assessments) Assistance (see Tax help) Assumption of mortgage, Assumption of a mortgage. Www irs govefile Attorneys' fees, Settlement fees and other costs. Www irs govefile , Increases to basis. Www irs govefile Automobiles MACRS recovery periods, Property Classes Under GDS B Basis Adjusted basis, Adjusted Basis Assessments for local improvements, Assessments for local improvements. Www irs govefile Basis other than cost, Basis Other Than Cost Cost basis, Cost Basis Decreases to, Decreases to basis. Www irs govefile Deductions Capitalization of costs vs. Www irs govefile , Deducting vs. Www irs govefile capitalizing costs. Www irs govefile Not greater than basis, Cost or Other Basis Fully Recovered Fair market value, Fair market value. Www irs govefile Increases to, Increases to basis. Www irs govefile MACRS depreciable basis, Basis of Depreciable Property Property changed to rental use, Basis of Property Changed to Rental Use C Capital expenditures Deductions vs. Www irs govefile effect on basis, Deducting vs. Www irs govefile capitalizing costs. Www irs govefile Local benefit taxes, Local benefit taxes. Www irs govefile Mortgages, payments to obtain, Expenses paid to obtain a mortgage. Www irs govefile Cars MACRS recovery periods, Property Classes Under GDS Cash method taxpayers, Cash method. Www irs govefile Casualty losses, Exception for Rental Real Estate With Active Participation Change of accounting method, Changing your accounting method. Www irs govefile Charitable contributions Use of property, Donation of use of the property. Www irs govefile Cleaning and maintenance, Types of Expenses Closing costs, Settlement fees and other costs. Www irs govefile Commissions, Types of Expenses Computers MACRS recovery periods, Property Classes Under GDS Condominiums, Condominiums, Dwelling unit. Www irs govefile Constructive receipt of income, Cash method. Www irs govefile , More information. Www irs govefile Cooperative housing, Cooperative apartments. Www irs govefile , Cooperatives, Dwelling unit. Www irs govefile Cost basis, Cost Basis Credit reports, Settlement fees and other costs. Www irs govefile Credits Residential energy credits, Decreases to basis. Www irs govefile D Days of personal use, What is a day of personal use? Days used for repairs and maintenance, Days used for repairs and maintenance. Www irs govefile Deductions Capitalizing costs vs. Www irs govefile effect on basis, Deducting vs. Www irs govefile capitalizing costs. Www irs govefile Depreciation (see Depreciation) Limitations on, Form 4562. Www irs govefile Passive activity losses (see Passive activity) Depreciation, Depreciation of Rental Property, Changing your accounting method. Www irs govefile Alternative Depreciation System (ADS) (see Modified Accelerated Cost Recovery System (MACRS)) Basis (see Basis) Change of accounting method, Changing your accounting method. Www irs govefile Change of property to rental use, Property Changed to Rental Use Claiming correct amount of, Claiming the Correct Amount of Depreciation Declining balance method, Depreciation Methods Duration of property expected to last more than one year, What Rental Property Can Be Depreciated? Eligible property, What Rental Property Can Be Depreciated? First-year expensing, Section 179 deduction. Www irs govefile MACRS (see Modified Accelerated Cost Recovery System (MACRS)) Methods, Depreciation Methods, Figuring Your Depreciation Deduction Ownership of property, What Rental Property Can Be Depreciated?, Property you own. Www irs govefile Rental expense, Depreciation. Www irs govefile Rented property, Rented property. Www irs govefile Section 179 deduction, Section 179 deduction. Www irs govefile Special depreciation allowances, Claiming the Special Depreciation Allowance Straight line method, Depreciation Methods Useful life, What Rental Property Can Be Depreciated?, Property having a determinable useful life. Www irs govefile Vacant rental property, Vacant rental property. Www irs govefile Discount, bonds and notes issued at (see Original issue discount (OID)) Dividing of expenses (see Allocation of expenses) Dwelling units Definition, Dwelling unit. Www irs govefile Fair rental price, Fair rental price. Www irs govefile Personal use of, Personal Use of Dwelling Unit (Including Vacation Home), What is a day of personal use? E Easements, Decreases to basis. Www irs govefile Equipment rental expense, Rental of equipment. Www irs govefile F Fair market value (FMV), Fair market value. Www irs govefile Fair rental price, Dividing Expenses, Fair rental price. Www irs govefile Fees Loan origination fees, Points, Settlement fees and other costs. Www irs govefile Points (see Points) Settlement fees and other costs, Settlement fees and other costs. Www irs govefile Tax return preparation fees, Legal and other professional fees. Www irs govefile First-year expensing, Section 179 deduction. Www irs govefile Form 1040 Not rented for profit income, Where to report. Www irs govefile Part of property rented, Renting Part of Property Rental income and expenses, Reporting Rental Income, Expenses, and Losses Schedule E, Schedule E (Form 1040) Form 1098 Mortgage interest, Form 1098, Mortgage Interest Statement. Www irs govefile Form 4684 Casualties and thefts, How to report. Www irs govefile Form 4797 Sales of business property, How to report. Www irs govefile Form 8582 Passive activity losses, Form 8582. Www irs govefile , Form 8582 not required. Www irs govefile Free tax services, Free help with your tax return. Www irs govefile G Gains and losses At-risk rules, At-Risk Rules Casualty and theft losses, Exception for Rental Real Estate With Active Participation Limits on rental losses, Form 4562. Www irs govefile Passive activity losses, Passive Activity Limits Rental real estate activities, Exception for Rental Real Estate With Active Participation Sale of rental property, Sale or exchange of rental property. Www irs govefile , How to report. Www irs govefile General depreciation system (GDS) (see Modified Accelerated Cost Recovery System (MACRS)) H Help (see Tax help) Home Main home, Main home. Www irs govefile Use as rental property (see Use of home) I Improvements, Table 1-1. Www irs govefile Examples of Improvements (see also Repairs) Assessments for local improvements, Assessments for local improvements. Www irs govefile Basis, Increases to basis. Www irs govefile , Additions or improvements. Www irs govefile Depreciation of rented property, Rented property. Www irs govefile MACRS recovery period, Additions or improvements to property. Www irs govefile Insurance, Types of Expenses Casualty or theft loss payments, Decreases to basis. Www irs govefile Change of property to rental use, Property Changed to Rental Use Fire insurance premiums, cost basis, Settlement fees and other costs. Www irs govefile Part of property rented, Renting Part of Property Premiums paid in advance, Insurance premiums paid in advance. Www irs govefile Title insurance, cost basis, Settlement fees and other costs. Www irs govefile Interest payments, Interest expense. Www irs govefile (see also Mortgages) Loan origination fees, Points Rental expenses, Types of Expenses L Land Cost basis, Separating cost of land and buildings. Www irs govefile Depreciation, Land. Www irs govefile Leases Cancellation payments, Canceling a lease. Www irs govefile Equipment leasing, Rental of equipment. Www irs govefile Limits Passive activity losses and credits, Passive Activity Limits Rental losses, Limits on Rental Losses Loans Assumption fees, Settlement fees and other costs. Www irs govefile Charges connected with getting or refinancing, cost basis, Settlement fees and other costs. Www irs govefile Low or no interest, Loans with low or no interest. Www irs govefile Origination fees, Points Local assessments, Assessments for local improvements. Www irs govefile Losses (see Gains and losses) M Missing children, photographs of, Reminders Modified Accelerated Cost Recovery System (MACRS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Additions or improvements to property, Additions or improvements to property. Www irs govefile Adjusted basis, Adjusted Basis Alternative Depreciation System (ADS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Basis other than cost, Basis Other Than Cost Conventions, Conventions Cost basis, Cost Basis Depreciable basis, Basis of Depreciable Property Effective date, Depreciation Methods Excluded property, Excluded Property General Depreciation System (GDS), MACRS Depreciation, Property Classes Under GDS, Figuring Your Depreciation Deduction Nonresidential rental property, Property Classes Under GDS Property used in rental activities (Table 2-1), Table 2-1. Www irs govefile MACRS Recovery Periods for Property Used in Rental Activities Recovery periods, Table 2-1. Www irs govefile MACRS Recovery Periods for Property Used in Rental Activities, 5-, 7-, or 15-year property. Www irs govefile Residential rental property, Property Classes Under GDS, Residential rental property. Www irs govefile Special depreciation allowances, Claiming the Special Depreciation Allowance Modified adjusted gross income (MAGI), Modified adjusted gross income (MAGI). Www irs govefile Mortgages, Expenses paid to obtain a mortgage. Www irs govefile Assumption of, cost basis, Assumption of a mortgage. Www irs govefile Change of property to rental use, Property Changed to Rental Use End of, OID, Loan or mortgage ends. Www irs govefile Interest, Interest expense. Www irs govefile , Property Changed to Rental Use, Renting Part of Property Mortgage insurance premiums, Settlement fees and other costs. Www irs govefile Part of property rented, Renting Part of Property N Nonresidential real property, Property Classes Under GDS Not-for-profit activities, Duplex. Www irs govefile O Original issue discount (OID), Points, Loan or mortgage ends. Www irs govefile P Part interest Expenses, Part interest. Www irs govefile Income, Part interest. Www irs govefile Passive activity Maximum special allowance, Maximum special allowance. Www irs govefile Personal property Rental income from, Property or services. Www irs govefile Personal use of rental property, Payments added to capital account. Www irs govefile , Personal Use of Dwelling Unit (Including Vacation Home) (see also Property changed to rental use) Placed-in-service date, Placed in Service Points, Types of Expenses, Points, Settlement fees and other costs. Www irs govefile Pre-rental expenses, Pre-rental expenses. Www irs govefile Principal residence (see Home) Profit, property not rented for, Duplex. Www irs govefile Property changed to rental use, Payments added to capital account. Www irs govefile Basis, Basis of Property Changed to Rental Use Publications (see Tax help) R Real estate professionals, Real estate professionals. Www irs govefile Real estate taxes, Real estate taxes. Www irs govefile Real property trades or businesses, Real property trades or businesses. Www irs govefile Recordkeeping requirements Travel and transportation expenses, Local transportation expenses. Www irs govefile , Travel expenses. Www irs govefile Recovery periods, Property Classes Under GDS Rent, Settlement fees and other costs. Www irs govefile Advance rent, Advance rent. Www irs govefile Fair price, Fair rental price. Www irs govefile Rental expenses, Rental Expenses Advertising, Types of Expenses Allocation between rental and personal uses, Dividing Expenses Change of property to rental use, Property Changed to Rental Use Cleaning and maintenance, Types of Expenses Commissions, Types of Expenses Depreciation, Depreciation. Www irs govefile Dwelling unit used as home, Dwelling Unit Used as a Home Equipment rental, Rental of equipment. Www irs govefile Home, property also used as, Rental of property also used as your home. Www irs govefile Improvements, Table 1-1. Www irs govefile Examples of Improvements Insurance, Types of Expenses, Insurance premiums paid in advance. Www irs govefile Interest payments, Types of Expenses, Interest expense. Www irs govefile Local transportation expenses, Types of Expenses, Local transportation expenses. Www irs govefile Part of property rented, Renting Part of Property Points, Types of Expenses, Points Pre-rental expenses, Pre-rental expenses. Www irs govefile Rental payments, Types of Expenses Repairs, Types of Expenses, Repairs and Improvements Sale of property, Vacant while listed for sale. Www irs govefile Tax return preparation fees, Legal and other professional fees. Www irs govefile Taxes, Types of Expenses Tenant, paid by, Expenses paid by tenant. Www irs govefile Travel expenses, Types of Expenses Utilities, Types of Expenses Vacant rental property, Vacant rental property. Www irs govefile Rental income Advance rent, Advance rent. Www irs govefile Cancellation of lease payments, Canceling a lease. Www irs govefile Dwelling unit used as home, Dwelling Unit Used as a Home Lease with option to buy, Lease with option to buy. Www irs govefile Not rented for profit, Not Rented for Profit Part interest, Part interest. Www irs govefile Property received from tenant, Property or services. Www irs govefile Reporting, Accrual method. Www irs govefile , Which Forms To Use Security deposit, Security deposits. Www irs govefile Services received from tenant, Property or services. Www irs govefile Uncollected rent, Uncollected rent. Www irs govefile Used as home, Rental of property also used as your home. Www irs govefile Rental losses, Exception for Rental Real Estate With Active Participation (see also Gains and losses) (see also Passive activity) Repairs, Types of Expenses, Repairs and Improvements (see also Improvements) Assessments for maintenance, Assessments for local improvements. Www irs govefile Personal use of rental property exception for days used for repairs and maintenance, Days used for repairs and maintenance. Www irs govefile S Sale of property Expenses, Vacant while listed for sale. Www irs govefile Gain or loss, Sale or exchange of rental property. Www irs govefile , How to report. Www irs govefile Main home, Sale of main home used as rental property. Www irs govefile Section 179 deductions, Section 179 deduction. Www irs govefile Security deposits, Security deposits. Www irs govefile Settlement fees, Settlement fees and other costs. Www irs govefile Shared equity financing agreements, Shared equity financing agreement. Www irs govefile Special depreciation allowances, Claiming the Special Depreciation Allowance Spouse Material participation, Participating spouse. Www irs govefile Standard mileage rates, Local transportation expenses. Www irs govefile Surveys, Settlement fees and other costs. Www irs govefile T Tables and figures Improvements, examples of (Table 1-1), Table 1-1. Www irs govefile Examples of Improvements MACRS optional tables (Table 2-2d), Table 2-2d. Www irs govefile MACRS optional tables (Tables 2-2a, 2-2b, and 2-2c), Tables 2-2a, 2-2b, and 2-2c. Www irs govefile MACRS recovery periods for property used in rental activities (Table 2-1), Table 2-1. Www irs govefile MACRS Recovery Periods for Property Used in Rental Activities Tax credits Residential energy credits, effect on basis, Decreases to basis. Www irs govefile Tax help, How To Get Tax Help Tax return preparation fees, Legal and other professional fees. Www irs govefile Taxes Deduction of, Types of Expenses Local benefit taxes, Local benefit taxes. Www irs govefile Real estate taxes, Real estate taxes. Www irs govefile Transfer taxes, Settlement fees and other costs. Www irs govefile Theft losses, Theft. Www irs govefile Title insurance, Settlement fees and other costs. Www irs govefile Transfer taxes, Settlement fees and other costs. Www irs govefile Travel and transportation expenses Local transportation expenses, Types of Expenses, Local transportation expenses. Www irs govefile Recordkeeping, Travel expenses. Www irs govefile Rental expenses, Types of Expenses Standard mileage rate, Local transportation expenses. Www irs govefile U Uncollected rent Income, Uncollected rent. Www irs govefile Use of home Before or after renting, Days used as a main home before or after renting. Www irs govefile Change to rental use, Property Changed to Rental Use Days of personal use, What is a day of personal use? Fair rental price, Fair rental price. Www irs govefile Passive activity rules exception, Exception for Personal Use of Dwelling Unit Personal use as dwelling unit, Personal Use of Dwelling Unit (Including Vacation Home) Utilities, Types of Expenses, Increases to basis. Www irs govefile V Vacant rental property, Vacant rental property. Www irs govefile Vacation homes Dwelling unit, Dwelling unit. Www irs govefile Fair rental price, Fair rental price. Www irs govefile Personal use of, Personal Use of Dwelling Unit (Including Vacation Home) Valuation Fair market value, Fair market value. Www irs govefile Prev  Up     Home   More Online Publications
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Www irs govefile Publication 505 - Introductory Material Table of Contents IntroductionNonresident aliens. Www irs govefile Ordering forms and publications. Www irs govefile Tax questions. Www irs govefile What's New for 2014 Reminders Introduction The federal income tax is a pay-as-you-go tax. Www irs govefile You must pay the tax as you earn or receive income during the year. Www irs govefile There are two ways to pay as you go. Www irs govefile Withholding. Www irs govefile If you are an employee, your employer probably withholds income tax from your pay. Www irs govefile In addition, tax may be withheld from certain other income, such as pensions, bonuses, commissions, and gambling winnings. Www irs govefile The amount withheld is paid to the Internal Revenue Service (IRS) in your name. Www irs govefile Estimated tax. Www irs govefile If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. Www irs govefile People who are in business for themselves generally will have to pay their tax this way. Www irs govefile You may have to pay estimated tax if you receive income such as dividends, interest, capital gains, rents, and royalties. Www irs govefile Estimated tax is used to pay not only income tax, but other taxes such as self-employment tax and alternative minimum tax. Www irs govefile This publication explains both of these methods. Www irs govefile It also explains how to take credit on your return for the tax that was withheld and for your estimated tax payments. Www irs govefile If you did not pay enough tax during the year, either through withholding or by making estimated tax payments, you may have to pay a penalty. Www irs govefile Generally, the IRS can figure this penalty for you. Www irs govefile This underpayment penalty, and the exceptions to it, are discussed in chapter 4. Www irs govefile Nonresident aliens. Www irs govefile    Before completing Form W-4, nonresident alien employees should see the Instructions for Form 8233, Exemption From Withholding on Compensation for Independent (and Certain Dependent) Personal Services of a Nonresident Alien Individual. Www irs govefile Also see chapter 8 of Publication 519, U. Www irs govefile S. Www irs govefile Tax Guide for Aliens, for important information on withholding. Www irs govefile What's new for 2013 and 2014. Www irs govefile   See What's New for 2014 in this Introduction, and What's New for 2013 in chapter 4. Www irs govefile Comments and suggestions. Www irs govefile   We welcome your comments about this publication and your suggestions for future editions. Www irs govefile   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Www irs govefile NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Www irs govefile Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Www irs govefile   You can send your comments from www. Www irs govefile irs. Www irs govefile gov/formspubs/. Www irs govefile Click on “More Information” and then on Give us feedback on forms and publications. Www irs govefile   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Www irs govefile Ordering forms and publications. Www irs govefile   Visit www. Www irs govefile irs. Www irs govefile gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 business days after your request is received. Www irs govefile Internal Revenue Service 1201 N. Www irs govefile Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Www irs govefile   If you have a tax question, check the information available on IRS. Www irs govefile gov or call 1-800-829-1040. Www irs govefile We cannot answer tax questions sent to either of the above addresses. Www irs govefile What's New for 2014 Use your 2013 tax return as a guide in figuring your 2014 estimated tax, but be sure to consider the following. Www irs govefile Standard mileage rates. Www irs govefile  The 2014 rate for business use of your vehicle is 56 cents per mile. Www irs govefile The rate for use of your vehicle to get medical care or move is 23½ cents per mile. Www irs govefile The rate of 14 cents per mile for charitable use is unchanged. Www irs govefile Personal exemption increased for certain taxpayers. Www irs govefile  For 2014, the personal exemption amount is increased to $3,950 for taxpayers with adjusted gross income at or below $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, or $152,525 if married filing separately. Www irs govefile The personal exemption amount for taxpayers with adjusted gross income above these thresholds may be reduced. Www irs govefile Limitation on itemized deductions. Www irs govefile  For 2014, itemized deductions for taxpayers with adjusted gross income above $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, and $152,525 if married filing separately may be reduced. Www irs govefile Health care coverage. Www irs govefile  When you file your 2014 tax return in 2015, you will need to either (1) indicate on your return that you and your family had health care coverage throughout 2014, (2) claim an exemption from the health care coverage requirement for some or all of 2014, or (3) make a payment if you do not have coverage or an exemption(s) for all 12 months of 2014. Www irs govefile For examples on how this payment works, go to www. Www irs govefile IRS. Www irs govefile gov/aca and click under the “Individuals & Families” section. Www irs govefile You may want to consider this when figuring your “Other taxes” on Line 12 of the 2014 Estimated Tax Worksheet (Worksheet 2-1). Www irs govefile For general information on these requirements, go to www. Www irs govefile IRS. Www irs govefile gov/aca. Www irs govefile Advance payments of the Premium Tax Credit. Www irs govefile  If you buy health care insurance through the Health Insurance Marketplace, you may be eligible for advance payments of the Premium Tax Credit to help pay for your insurance coverage. Www irs govefile Receiving too little or too much in advance will affect your refund or balance due. Www irs govefile Promptly report changes in your income or family size to your Marketplace. Www irs govefile You may want to consider this when figuring your estimated taxes for 2014. Www irs govefile For more information, go to www. Www irs govefile IRS. Www irs govefile gov/aca and see Publication 5120 and Publication 5121. Www irs govefile http://www. Www irs govefile IRS. Www irs govefile gov/pub5120 Alternative minimum tax (AMT) exemption amount increased. Www irs govefile  The AMT exemption amount is increased to $52,800 ($82,100 if married filing jointly or qualifying widow(er); $41,050 if married filing separately). Www irs govefile Lifetime learning credit income limits. Www irs govefile  In order to claim a lifetime learning credit, your MAGI must be less than $54,000 ($108,000 if married filing jointly). Www irs govefile Retirement savings contribution credit income limits increased. Www irs govefile  In order to claim this credit for 2014, your MAGI must be less than $30,000 ($60,000 if married filing jointly; $45,000 if head of household). Www irs govefile Adoption credit or exclusion. Www irs govefile  The maximum adoption credit or exclusion for employer-provided adoption benefits has increased to $13,190. Www irs govefile In order to claim either the credit or exclusion, your MAGI must be less than $237,880. Www irs govefile Earned income credit (EIC). Www irs govefile  You may be able to take the EIC in 2014 if: Three or more children lived with you and you earned less than $46,997 ($52,427 if married filing jointly), Two children lived with you and you earned less than $43,756 ($49,186 if married filing jointly), One child lived with you and you earned less than $38,511 ($43,941 if married filing jointly), or A child did not live with you and you earned less than $14,590 ($20,020 if married filing jointly). Www irs govefile Also, the maximum MAGI you can have and still get the credit has increased. Www irs govefile You may be able to take the credit if your MAGI is less than the amount in the above list that applies to you. Www irs govefile The maximum investment income you can have and get the credit has increased to $3,350. Www irs govefile Reminders Future developments. Www irs govefile  The IRS has created a page on IRS. Www irs govefile gov for information about Publication 505 at www. Www irs govefile irs. Www irs govefile gov/pub505. Www irs govefile Information about any future developments affecting Publication 505 (such as legislation enacted after we release it) will be posted on that page. Www irs govefile Social security tax. Www irs govefile   Generally, each employer for whom you work during the tax year must withhold social security tax up to the annual limit. Www irs govefile The annual limit is $117,000 in 2014. Www irs govefile Photographs of missing children. Www irs govefile  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Www irs govefile Photographs of missing children selected by the Center may appear in this publication on pages that otherwise would be blank. Www irs govefile You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Www irs govefile Additional Medicare Tax. Www irs govefile  Beginning in 2013, a 0. Www irs govefile 9% Additional Medicare Tax applies to Medicare wages, Railroad Retirement Tax Act compensation, and self-employment income over a threshold amount based on your filing status. Www irs govefile You may need to include this amount when figuring your estimated tax. Www irs govefile See the instructions for line 12 of the 2014 Estimated Tax Worksheet. Www irs govefile You may also request that your employer deduct and withhold an additional amount of income tax withholding from your wages on Form W-4, Employee's Withholding Allowance Certificate. Www irs govefile For more information on Additional Medicare Tax, go to IRS. Www irs govefile gov and enter “Additional Medicare Tax” in the search box. Www irs govefile Net Investment Income Tax. Www irs govefile  Beginning in 2013, you may be subject to Net Investment Income Tax (NIIT). Www irs govefile NIIT is a 3. Www irs govefile 8% tax on the lesser of net investment income or the excess of your modified adjusted gross income (MAGI) over the threshold amount. Www irs govefile NIIT may need to be included when figuring estimated tax. Www irs govefile See the instructions for line 12 of the 2014 Estimated Tax Worksheet. Www irs govefile You may also request that your employer deduct and withhold an additional amount of income tax withholding from your wages on Form W-4. Www irs govefile For more information on NIIT, go to IRS. Www irs govefile gov and enter “Net Investment Income Tax” in the search box. Www irs govefile Prev  Up  Next   Home   More Online Publications