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1040nr Filing

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1040nr Filing

1040nr filing Index A Abusive tax shelters (see Tax shelters) Accounting fees, Attorney or accounting fees. 1040nr filing Accrual method, Accrual method taxpayers. 1040nr filing , Accrual method. 1040nr filing , Holders must use accrual method. 1040nr filing , When To Deduct Investment Interest Accuracy-related penalty, Accuracy-related penalty. 1040nr filing Acquisition discount, Government obligations. 1040nr filing , Acquisition discount on short-term obligations. 1040nr filing Adjusted basis, Basis adjustment. 1040nr filing , Fair market value equal to or more than donor's adjusted basis. 1040nr filing , Adjusted Basis, Short sales. 1040nr filing Alaska Permanent Fund dividends, Alaska Permanent Fund dividends. 1040nr filing , Child's Alaska Permanent Fund dividends. 1040nr filing Amortization of bond premium, Bond Premium Amortization, Bonds acquired after October 22, 1986, but before 1988. 1040nr filing Annuities Borrowing on, Borrowing on insurance. 1040nr filing Interest on, Interest on annuity contract. 1040nr filing Life insurance proceeds used to buy, Annuity. 1040nr filing Sale of, Sale of Annuity Single-premium, Single-premium life insurance, endowment, and annuity contracts. 1040nr filing Trade for, Trade of investment property for an annuity. 1040nr filing , Insurance Policies and Annuities Applicable federal rate, Applicable federal rate. 1040nr filing Appreciated financial positions, Constructive Sales of Appreciated Financial Positions Arbitrage bonds, Arbitrage bonds. 1040nr filing Assistance (see Tax help) At-risk rules, At-risk rules. 1040nr filing , At-risk rules. 1040nr filing Attorneys' fees, Attorney or accounting fees. 1040nr filing Automatic investment service, Automatic investment service and dividend reinvestment plans. 1040nr filing , Automatic investment service. 1040nr filing , Automatic investment service. 1040nr filing Average basis, Average Basis Double-category method, Transition rule from double-category method. 1040nr filing Illustrated, Average basis method illustrated. 1040nr filing B Backup withholding, Backup withholding. 1040nr filing Bad debts, Nonbusiness bad debt. 1040nr filing , Nonbusiness Bad Debts Bankrupt financial institutions Deposit in, Deposit in Insolvent or Bankrupt Financial Institution Bargain purchases, Bargain purchases. 1040nr filing Basis, Basis of Investment Property, U. 1040nr filing S. 1040nr filing Treasury Notes or Bonds Adjusted, Basis adjustment. 1040nr filing , Fair market value equal to or more than donor's adjusted basis. 1040nr filing , Adjusted Basis, Short sales. 1040nr filing Average, Average Basis Cost, Cost Basis, Cost Basis Inherited property, Property Received as Inheritance Investment property, Basis of Investment Property Like-kind exchanges, Basis of property received. 1040nr filing Other than cost, Basis Other Than Cost REITs, Shares in a mutual fund or REIT. 1040nr filing REMIC, residual interest, Basis in the residual interest. 1040nr filing Replacement stock, Basis of replacement stock. 1040nr filing Shares acquired by reinvestment, Reinvestment right. 1040nr filing Stocks and bonds, Basis adjustment. 1040nr filing , Basis. 1040nr filing , Basis. 1040nr filing , Stocks and Bonds Bearer obligations, Bearer CDs. 1040nr filing , Bearer Obligations Below-market loans, Below-Market Loans Bonds Accrued interest on, Accrued interest on bonds. 1040nr filing Amortization of premium, Bond Premium Amortization Arbitrage, Arbitrage bonds. 1040nr filing Basis, Basis. 1040nr filing , Stocks and Bonds Capital asset, Stocks, stock rights, and bonds. 1040nr filing Convertible, Convertible stocks and bonds. 1040nr filing Coupon, Coupon bonds. 1040nr filing Enterprise zone facility, Enterprise zone facility bonds. 1040nr filing Federally guaranteed, Federally guaranteed bonds. 1040nr filing Identification, Identifying stock or bonds sold. 1040nr filing Market discount, Market discount. 1040nr filing , Limit on interest deduction for market discount bonds. 1040nr filing , Market discount on bonds. 1040nr filing , Market discount bonds. 1040nr filing , Market discount bonds. 1040nr filing New York Liberty bonds, New York Liberty bonds. 1040nr filing Par value, Bonds purchased at par value. 1040nr filing Premiums on, Bond premium. 1040nr filing , Premiums on bonds. 1040nr filing Private activity, Private activity bonds. 1040nr filing Redemption or retirement of, Redemption or retirement of bonds. 1040nr filing Sold between interest dates, Bonds Sold Between Interest Dates State and local government, Tax-exempt state and local government bonds. 1040nr filing Stripped, Stripped bonds or coupons. 1040nr filing , Stripped Bonds and Coupons, Stripped tax-exempt obligation. 1040nr filing Tax credit bonds, Tax credit bonds. 1040nr filing Tax-exempt, Tax-exempt state and local government bonds. 1040nr filing Traded flat, Bonds traded flat. 1040nr filing U. 1040nr filing S. 1040nr filing savings (see U. 1040nr filing S. 1040nr filing savings bonds) U. 1040nr filing S. 1040nr filing Treasury (see U. 1040nr filing S. 1040nr filing Treasury bills, notes, and bonds) Brokerage fees, Fees to buy or sell. 1040nr filing , Sale expenses. 1040nr filing C Calls and puts, Puts and Calls Table 4-3, Table 4-3. 1040nr filing Puts and Calls Capital assets, Capital Assets and Noncapital Assets Capital gain distributions, Capital Gain Distributions, Basis adjustment. 1040nr filing , Capital gain distributions. 1040nr filing , Child's capital gain distributions. 1040nr filing , Capital gain distributions received. 1040nr filing Capital gains and losses, Capital Gains and Losses, Loss on stock that paid qualified dividends. 1040nr filing Constructive ownership transactions, Gains From Certain Constructive Ownership Transactions Definition, Capital or Ordinary Gain or Loss Empowerment zone assets, Exclusion of Gain From DC Zone Assets Investment property, Investment property. 1040nr filing Long-term, Short-Term or Long-Term Capital Gain or Loss, Long-term gains and losses. 1040nr filing Long-term debt instruments, Long-term debt instruments issued after 1954 and before May 28, 1969 (or before July 2, 1982, if a government instrument). 1040nr filing Losses, limit on, Limit on deduction. 1040nr filing Passive activities, Passive activity gains and losses. 1040nr filing Qualified covered call options, Capital loss on qualified covered call options. 1040nr filing Qualified small business stock, Gains on Qualified Small Business Stock Reporting requirements, How To Report Gains and Losses (Form 6781), How to report gain. 1040nr filing Rollover of gain from sale of securities, Rollover of Gain From Publicly Traded Securities Short-term, Short-Term or Long-Term Capital Gain or Loss, Short-term gains and losses. 1040nr filing Tax rates, Capital Gain Tax Rates, Table 4-4. 1040nr filing What Is Your Maximum Capital Gain Rate? Table 4-4, Table 4-4. 1040nr filing What Is Your Maximum Capital Gain Rate? Capital loss carryover, Capital loss carryover. 1040nr filing , Capital Losses Worksheet 4-1, Worksheet 4-1. 1040nr filing Capital Loss Carryover Worksheet Cash method, Cash method taxpayers. 1040nr filing , Cash method. 1040nr filing , When To Deduct Investment Interest Reporting options for savings bond interest, Reporting options for cash method taxpayers. 1040nr filing Cash-settled options, Cash-settled options. 1040nr filing Casualty losses, Ordinary loss or casualty loss. 1040nr filing CDOs (Collateralized debt obligations), Collateralized Debt Obligations (CDOs) Certificates of deposit (CDs), Certificates of Deposit (CDs) Children Alaska Permanent Fund dividends, Child's Alaska Permanent Fund dividends. 1040nr filing Capital gain distributions, Child's capital gain distributions. 1040nr filing Custodian account for, Custodian account for your child. 1040nr filing Gifts to, Income from property given to a child. 1040nr filing Investment income of, Tax on unearned income of certain children. 1040nr filing , Investment income of child reported on parent's return. 1040nr filing Qualified dividends, Child's qualified dividends. 1040nr filing Savings account with parent as trustee, Savings account with parent as trustee. 1040nr filing U. 1040nr filing S. 1040nr filing savings bond owner, Child as only owner. 1040nr filing Clerical help, Clerical help and office rent. 1040nr filing Co-owners of U. 1040nr filing S. 1040nr filing savings bonds, Co-owners. 1040nr filing Collateralized debt obligations (CDOs), Collateralized Debt Obligations (CDOs) Collectibles, Collectibles gain or loss. 1040nr filing Commissions, Commissions and load charges. 1040nr filing Commodity futures, Commodity Futures, Commodity futures. 1040nr filing Community property U. 1040nr filing S. 1040nr filing savings bonds, Community property. 1040nr filing Constructive ownership transactions, Constructive ownership of stock. 1040nr filing , Gains From Certain Constructive Ownership Transactions Constructive receipt, Constructive receipt. 1040nr filing Constructive sales, Constructive Sales of Appreciated Financial Positions Contractors, insolvency of, Insolvency of contractor. 1040nr filing Conversion transactions, Conversion Transactions Convertible stocks and bonds, Convertible stocks and bonds. 1040nr filing Cooperatives, sales of stock to, Sales of Stock to ESOPs or Certain Cooperatives Corporate distributions, Dividends and Other Distributions Capital gain, Capital gain distributions. 1040nr filing , Child's capital gain distributions. 1040nr filing , Capital gain distributions received. 1040nr filing Constructive, Constructive distributions. 1040nr filing Dividends (see Dividends) Fractional shares, Fractional shares. 1040nr filing Liquidating, Liquidating Distributions, Liquidating distributions. 1040nr filing Nondividend, Nondividend Distributions, Nondividend distributions. 1040nr filing Return of capital, Basis adjustment. 1040nr filing Stock rights, Distributions of Stock and Stock Rights Undistributed capital gains, Undistributed capital gains of mutual funds and REITs. 1040nr filing Corporate reorganizations, Corporate reorganizations. 1040nr filing Cost basis, Cost Basis, Cost Basis Coupon bonds, Coupon bonds. 1040nr filing D Day traders, Special Rules for Traders in Securities Dealer equity options, Dealer equity option. 1040nr filing Dealer securities futures contracts, Dealer securities futures contract. 1040nr filing Debt instruments, retirement of, Retirement of debt instrument. 1040nr filing Decedents, Appreciated property you gave the decedent. 1040nr filing , Decedent's capital loss. 1040nr filing U. 1040nr filing S. 1040nr filing savings bond interest, reporting of, Decedents. 1040nr filing Demutualization, Demutualization of Life Insurance Companies Deposits, loss on, Deposit in Insolvent or Bankrupt Financial Institution Discount on debt instruments, Discount on Debt Instruments Certificates of deposit, Certificates of Deposit (CDs) Election to report all interest as OID, Election To Report All Interest as OID Face-amount certificates, Face-Amount Certificates Gain or loss treatment, Discounted Debt Instruments Inflation-indexed, Inflation-Indexed Debt Instruments Market discount bonds (see Market discount bonds) Original issue discount (see Original issue discount (OID)) Short-term obligations, Discount on Short-Term Obligations, Short-term government obligations. 1040nr filing Stripped bonds and coupons, Stripped Bonds and Coupons Discounted debt instruments, Discount on Debt Instruments Discounted tax-exempt obligations, Discounted tax-exempt obligations. 1040nr filing Dividends, Dividends and Other Distributions, Form 1099-DIV. 1040nr filing (see also Form 1099-DIV) Alaska Permanent Fund, Alaska Permanent Fund dividends. 1040nr filing , Child's Alaska Permanent Fund dividends. 1040nr filing Exempt-interest, Exempt-interest dividends. 1040nr filing , Exempt-interest dividends. 1040nr filing , Exempt-interest dividends on mutual fund stock. 1040nr filing Extraordinary, Extraordinary dividends. 1040nr filing Holding period, Holding period. 1040nr filing Insurance policies, Dividends on insurance policies. 1040nr filing Money market funds, Money Market Funds Nominees, Nominees. 1040nr filing , Nominees. 1040nr filing Ordinary, Ordinary Dividends Patronage, Patronage dividends. 1040nr filing Payments in lieu of, Payments in lieu of dividends. 1040nr filing Qualified, Qualified Dividends, Qualified dividends. 1040nr filing , Child's qualified dividends. 1040nr filing Qualified foreign corporation, Qualified foreign corporation. 1040nr filing Received in January, Dividends received in January. 1040nr filing Reinvestment of, Reinvested distributions. 1040nr filing Reinvestment plans, Dividends Used To Buy More Stock, Automatic investment service and dividend reinvestment plans. 1040nr filing , Dividend reinvestment plans. 1040nr filing Reporting requirements, Form 1099-DIV. 1040nr filing , How To Report Dividend Income, Stripped Preferred Stock Restricted stock, Dividends received on restricted stock. 1040nr filing Sale or trade vs. 1040nr filing , Dividend versus sale or trade. 1040nr filing Scrip, Scrip dividends. 1040nr filing Sold stock, Dividends on stock sold. 1040nr filing Stock, Stock dividends. 1040nr filing , Stock dividends. 1040nr filing Underreported, Underreported interest and dividends. 1040nr filing Veterans' insurance, Interest on VA dividends. 1040nr filing , Dividends on veterans' insurance. 1040nr filing Divorce, Property Received From Your Spouse, Transfers Between Spouses E Education Savings Bond Program, Education Savings Bond Program Interest excluded under, Interest excluded under the Education Savings Bond Program. 1040nr filing Recordkeeping requirements, Education Savings Bond Program Employee stock options, Reminders Employee stock ownership plans (ESOPs), sales of stock to, Sales of Stock to ESOPs or Certain Cooperatives Employer identification numbers (EINs), Identifying number. 1040nr filing Empowerment zone, Exclusion of Gain From DC Zone Assets Endowment contracts, Single-premium life insurance, endowment, and annuity contracts. 1040nr filing Enterprise zone facility bonds, Enterprise zone facility bonds. 1040nr filing Equity option, Equity option. 1040nr filing Estate income received by beneficiary, Beneficiary of an estate or trust. 1040nr filing Exchanges of mutual fund shares, Exchange of Shares In One Mutual Fund For Shares In Another Mutual Fund Exclusion of gain DC zone assets, Exclusion of Gain From DC Zone Assets Exempt-interest dividends on mutual fund stock, Exempt-interest dividends on mutual fund stock. 1040nr filing Expenses of producing income, Expenses of Producing Income F Face-amount certificates, Face-Amount Certificates Fair market value, Fair market value. 1040nr filing , Fair market value less than donor's adjusted basis. 1040nr filing , Fair market value. 1040nr filing Federal guarantee on bonds, Federally guaranteed bonds. 1040nr filing Fees to buy or sell, Fees to buy or sell. 1040nr filing Financial asset securitization investment trusts (FASITs), FASITs First-in first-out (FIFO), First-in first-out (FIFO). 1040nr filing Foreign currency transactions, Foreign currency contract. 1040nr filing Foreign income, Reminders Form 1040, Form 1040. 1040nr filing , Form 1040A or Form 1040. 1040nr filing Form 1040, Schedule B, Schedule B (Form 1040A or 1040). 1040nr filing Form 1040, Schedule D, How to report gain. 1040nr filing Form 1040A, Form 1040A. 1040nr filing Form 1040X, Filing a claim for refund. 1040nr filing Form 1041, Filing requirement. 1040nr filing Form 1065, Filing requirement. 1040nr filing Schedule K-1, Schedule K-1 (Form 1065). 1040nr filing Form 1066, Schedule Q, Schedule Q (Form 1066). 1040nr filing , Investment expenses from pass-through entities. 1040nr filing Form 1096, File Form 1099-INT with the IRS. 1040nr filing , File Form 1099-DIV with the IRS. 1040nr filing , File Form 1099-B or Form 1099-S with the IRS. 1040nr filing Form 1099-B, Form 1099-B. 1040nr filing , Form 1099-B transactions. 1040nr filing , File Form 1099-B or Form 1099-S with the IRS. 1040nr filing Form 1099-CAP, Form 1099-CAP transactions. 1040nr filing Form 1099-DIV, General Information, Form 1099-DIV. 1040nr filing , Form 1099-DIV. 1040nr filing , File Form 1099-DIV with the IRS. 1040nr filing Form 1099-INT, General Information, Form 1099-INT. 1040nr filing , Form 1099-INT for U. 1040nr filing S. 1040nr filing savings bond interest. 1040nr filing , Form 1099-INT. 1040nr filing , File Form 1099-INT with the IRS. 1040nr filing , Forms 1099-INT and 1099-OID. 1040nr filing , Forms 1099-INT and 1099-OID. 1040nr filing Form 1099-MISC, Form 1099-MISC. 1040nr filing , Reporting Substitute Payments Form 1099-OID, Form 1099-OID. 1040nr filing , Form 1099-OID, Form 1099-OID. 1040nr filing , Forms 1099-INT and 1099-OID. 1040nr filing , Forms 1099-INT and 1099-OID. 1040nr filing Form 1099-S, Form 1099-S transactions. 1040nr filing , File Form 1099-B or Form 1099-S with the IRS. 1040nr filing Form 1120, Filing requirement. 1040nr filing Form 2439, Undistributed capital gains of mutual funds and REITs. 1040nr filing Form 3115, Change from method 2. 1040nr filing , Choosing To Amortize, How To Make the Mark-to-Market Election Form 4684, Ordinary loss or casualty loss. 1040nr filing Form 4797, How to report. 1040nr filing , Losses on Section 1244 (Small Business) Stock, How to report. 1040nr filing Form 4952, Form 4952 Form 6198, At-risk rules. 1040nr filing Form 6781, Form 6781. 1040nr filing , How to report. 1040nr filing , How To Report Gains and Losses (Form 6781), Section 1256 contracts and straddles. 1040nr filing Form 8275, Negligence or disregard of rules or regulations. 1040nr filing Form 8275-R, Negligence or disregard of rules or regulations. 1040nr filing Form 8582, Form 8582. 1040nr filing Form 8615, Tax on unearned income of certain children. 1040nr filing Form 8815, Form 8815. 1040nr filing , Figuring the interest part of the proceeds (Form 8815, line 6). 1040nr filing , Interest excluded under the Education Savings Bond Program. 1040nr filing Form 8824, How to report. 1040nr filing Form 8832, Clubs formed before 1997. 1040nr filing Form 8886, Reportable Transaction Disclosure Statement, Negligence or disregard of rules or regulations. 1040nr filing Form 8949 Bad debts, How to report bad debts. 1040nr filing Basis adjustment, Basis adjustment. 1040nr filing Capital Gains, Reporting Capital Gains and Losses Capital Losses, Reporting Capital Gains and Losses Cooperative, sale to certain, Sales of Stock to ESOPs or Certain Cooperatives Copyrights in musical works, Capital asset treatment for self-created musical works. 1040nr filing Employee stock ownership plan, sale to, Sales of Stock to ESOPs or Certain Cooperatives Empowerment Zone Assets, Exclusion of Gain From DC Zone Assets Exempt-interest dividends, Exempt-interest dividends on mutual fund stock. 1040nr filing Form 1099-B, Form 1099-B. 1040nr filing , Form 1099-B transactions. 1040nr filing Form 1099-CAP, Form 1099-CAP transactions. 1040nr filing Form 1099-S, Form 1099-S transactions. 1040nr filing Fractional shares, Fractional shares. 1040nr filing Gain, qualified small business stock, How to report gain. 1040nr filing How to fill in, generally, Reporting Capital Gains and Losses Long-term gains and losses, Long-term gains and losses. 1040nr filing Marked-to-market election, Mark-to-market election made. 1040nr filing Market discount bonds, Market discount bonds. 1040nr filing , Market discount bonds. 1040nr filing Musical compositions, Capital asset treatment for self-created musical works. 1040nr filing Nominees, Nominees. 1040nr filing Nonbusiness bad debt, Nonbusiness bad debt. 1040nr filing Nondividend distributions, Nondividend distributions. 1040nr filing Option, How to report. 1040nr filing Property bought at various times, Sale of property bought at various times. 1040nr filing Rollover, publicly traded securities, Rollover of Gain From Publicly Traded Securities Rollover, qualified small business stock, How to report gain. 1040nr filing Sale expenses, Sale expenses. 1040nr filing Short-term gains and losses, Short-term gains and losses. 1040nr filing Software, Stocks and Bonds Worthless securities, How to report loss. 1040nr filing Form SS-4, Identifying number. 1040nr filing Form W-8BEN, Nonresident aliens. 1040nr filing Form W-9, Certification. 1040nr filing Fractional shares, Fractional shares. 1040nr filing , Automatic investment service. 1040nr filing Free tax services, Free help with your tax return. 1040nr filing Frozen deposits, Interest income on frozen deposits. 1040nr filing , Frozen deposits. 1040nr filing Futures contracts Regulated, Regulated futures contract. 1040nr filing Securities, Securities futures contract. 1040nr filing , Securities futures contract to sell. 1040nr filing , Securities Futures Contracts Futures, commodity, Commodity Futures, Commodity futures. 1040nr filing Wash sales, Options and futures contracts. 1040nr filing G Gains on qualified small business stock, Gains on Qualified Small Business Stock Gains on sales or trades, How To Figure Gain or Loss, Gain on Sale or Trade of Depreciable Property, Property received from a related party. 1040nr filing (see also Capital gains and losses) Gifts, What's New, Income from property given to a child. 1040nr filing , Property Received as a Gift, Property received as a gift. 1040nr filing Gifts of shares, Shares received as gift. 1040nr filing Government obligations, Government obligations. 1040nr filing H Hedging transactions, Hedging exception. 1040nr filing , Hedging Transactions, Hedging transaction. 1040nr filing Help (see Tax help) Holding period Investment property, Holding Period Replacement stock, Holding period of replacement stock. 1040nr filing Shares acquired by reinvestment, Reinvested distributions. 1040nr filing Straddles, Holding Period and Loss Treatment Rules I Income from sources outside U. 1040nr filing S. 1040nr filing , Reminders Income tax treaties (Table 1-3), Qualified Dividends Indian tribal government, Indian tribal government. 1040nr filing Individual retirement arrangements (IRAs) Interest income, Individual retirement arrangements (IRAs). 1040nr filing Inflation-indexed debt instruments, Inflation-Indexed Debt Instruments, Stripped inflation-indexed debt instruments. 1040nr filing Inherited property Basis, Property Received as Inheritance Holding period, Inherited property. 1040nr filing Transfer by inheritance, Transfer by inheritance. 1040nr filing Insolvency of contractors, Insolvency of contractor. 1040nr filing Installment sales, Installment sales. 1040nr filing Insurance Borrowing on, Borrowing on insurance. 1040nr filing Dividends, interest on, Interest on insurance dividends. 1040nr filing , Dividends on insurance policies. 1040nr filing Interest option on, Interest option on insurance. 1040nr filing Life insurance companies, demutualization, Demutualization of Life Insurance Companies Life, paid to beneficiary, Insurance Prepaid premiums, Prepaid insurance premiums. 1040nr filing Single-premium life, Single-premium life insurance, endowment, and annuity contracts. 1040nr filing Trades, Insurance Policies and Annuities Veterans' dividends, interest on, Interest on VA dividends. 1040nr filing , Dividends on veterans' insurance. 1040nr filing Interest expenses Allocation of, Allocation of Interest Expense Investment interest, Investment Interest Limit on, Limit on interest deduction for market discount bonds. 1040nr filing , Limit on Deduction When to deduct, When To Deduct Investment Interest Margin accounts, Interest on margin accounts. 1040nr filing Paid in advance, Interest paid in advance. 1040nr filing Straddles, Interest expense and carrying charges on straddles. 1040nr filing Interest income, Interest Income Annuity contracts, Interest on annuity contract. 1040nr filing Bonds traded flat, Bonds traded flat. 1040nr filing Certificates of deposits, Certificates of deposit and other deferred interest accounts. 1040nr filing Condemnation awards, Interest on condemnation award. 1040nr filing Deferred interest accounts, Certificates of deposit and other deferred interest accounts. 1040nr filing Dividends on deposit or share accounts, Dividends that are actually interest. 1040nr filing Frozen deposits, Interest income on frozen deposits. 1040nr filing , Frozen deposits. 1040nr filing Gift for opening account, Gift for opening account. 1040nr filing Individual retirement arrangements (IRAs), Individual retirement arrangements (IRAs). 1040nr filing Installment sale payments, Installment sale payments. 1040nr filing Insurance dividends, Interest on insurance dividends. 1040nr filing Money market funds, Money market funds. 1040nr filing Nominee distributions, Nominees. 1040nr filing Prepaid insurance premiums, Prepaid insurance premiums. 1040nr filing Reporting, When To Report Interest Income, Penalty on early withdrawal of savings. 1040nr filing Seller-financed mortgage, Form 1040A. 1040nr filing , Interest on seller-financed mortgage. 1040nr filing Tax refunds, Interest on tax refunds. 1040nr filing Tax-exempt, Tax-Exempt Interest, Reporting tax-exempt interest. 1040nr filing Taxable, Taxable Interest — General, Bonds traded flat. 1040nr filing , Taxation of interest. 1040nr filing , Taxable Interest U. 1040nr filing S. 1040nr filing savings bonds, person responsible for tax (Table 1-2), Table 1-2. 1040nr filing Who Pays the Tax on U. 1040nr filing S. 1040nr filing Savings Bond Interest Underreported, Underreported interest and dividends. 1040nr filing Unstated, Unstated interest. 1040nr filing Usurious interest, Usurious interest. 1040nr filing VA insurance dividends, Interest on VA dividends. 1040nr filing Investment clubs, Investment Clubs, Filing requirement. 1040nr filing Investment counsel and advice, Investment counsel and advice. 1040nr filing Investment expenses, Investment Expenses Allocated, Allocated investment expenses. 1040nr filing At-risk rules, At-risk rules. 1040nr filing Deductible, Expenses of Producing Income Interest, Investment interest deducted. 1040nr filing Limits on deductions, Limits on Deductions Nondeductible, Nondeductible Expenses Pass-through entities, Investment expenses from pass-through entities. 1040nr filing Reporting requirements, How To Report Investment Expenses Investment income, Investment Income Children, Tax on unearned income of certain children. 1040nr filing , Investment income of child reported on parent's return. 1040nr filing General Information, General Information Net income, Net Investment Income Records to keep, General Information Reporting of (Table 1-1), Table 1-1. 1040nr filing Where To Report Common Types of Investment Income Investment property, Investment property. 1040nr filing Basis, Basis of Investment Property Definition, Investment property. 1040nr filing Gain or loss treatment, Investment property. 1040nr filing Gift, received as, Property Received as a Gift Holding period, Holding Period Liquidation, received in, Investment property received in liquidation. 1040nr filing Nontaxable trades, received in, Property Received in Nontaxable Trades Sales and trades, Sales and Trades of Investment Property Services, received for, Property Received for Services Spouse, received from, Property Received From Your Spouse Taxable trades, received in, Property Received in Taxable Trades J Joint accounts, Joint accounts. 1040nr filing Joint and separate returns, Joint return. 1040nr filing , Joint and separate returns. 1040nr filing L Life insurance companies demutualization, Demutualization of Life Insurance Companies Like-kind exchanges, Like-Kind Exchanges, Like-Kind Exchanges Basis of property received, Basis of property received. 1040nr filing Reporting requirements, How to report. 1040nr filing Liquidating distributions, Liquidating Distributions, Investment property received in liquidation. 1040nr filing Listed options, Listed option. 1040nr filing Load charges, Commissions and load charges. 1040nr filing Loans Below-market, Below-Market Loans, Effective dates. 1040nr filing Gift and demand, Gift and demand loans. 1040nr filing Guarantees, Loan guarantees. 1040nr filing Term, Term loans. 1040nr filing Local government obligations (see State or local government obligations) Long-term capital gains and losses, Short-Term or Long-Term Capital Gain or Loss, Long-term gains and losses. 1040nr filing Long-term debt instruments, Long-term debt instruments issued after 1954 and before May 28, 1969 (or before July 2, 1982, if a government instrument). 1040nr filing Losses on sales or trades, Property received from a related party. 1040nr filing (see also Capital gains and losses) Amount calculation, How To Figure Gain or Loss Carryback election, Loss carryback election. 1040nr filing , Loss carryback election. 1040nr filing Mutual fund or REIT stock held 6 months or less, Loss on mutual fund or REIT stock held 6 months or less. 1040nr filing Passive activities, Passive activity losses. 1040nr filing , Passive activity losses. 1040nr filing , Passive activity losses and credits. 1040nr filing , Losses from passive activities. 1040nr filing Related parties, Losses on Sales or Trades of Property Section 1244 (small business) stock, Losses on Section 1244 (Small Business) Stock Small business investment company stock, Losses on Small Business Investment Company Stock Wash sales, Coordination of Loss Deferral Rules and Wash Sale Rules M Mark-to-market election, Mark-to-market election made. 1040nr filing Marked-to-market rules, Marked-to-Market Rules, Mark-to-market election made. 1040nr filing Market discount bonds, Market discount. 1040nr filing , Market Discount Bonds, Partial principal payments. 1040nr filing , Limit on interest deduction for market discount bonds. 1040nr filing , Market discount on bonds. 1040nr filing , Market discount bonds. 1040nr filing , Market discount bonds. 1040nr filing Accrued market discount, Accrued market discount. 1040nr filing Maximum rate of capital gains (Table 4-4), Table 4-4. 1040nr filing What Is Your Maximum Capital Gain Rate? Mechanics' and suppliers' liens, Mechanics' and suppliers' liens. 1040nr filing Meetings, expenses of attending, Stockholders' meetings. 1040nr filing Missing children, photographs of, Reminders Mixed straddles, Mixed straddles. 1040nr filing , Mixed straddles. 1040nr filing Money market funds, Money Market Funds Interest income, Money market funds. 1040nr filing Mortgages Revenue bonds, Mortgage revenue bonds. 1040nr filing Secondary liability on home, Secondary liability on home mortgage. 1040nr filing Seller-financed, Interest on seller-financed mortgage. 1040nr filing Municipal bonds, State or Local Government Obligations, Reporting tax-exempt interest. 1040nr filing , Tax-exempt state and local government bonds. 1040nr filing (see also State or local government obligations) Mutual funds, Capital Gain Distributions, Other income (nonpassive income). 1040nr filing , Choosing to include net capital gain. 1040nr filing , Including mutual fund or REMIC expenses in income. 1040nr filing , Shares in a mutual fund or REIT. 1040nr filing , Special Rules for Mutual Funds, Loss on mutual fund or REIT stock held 6 months or less. 1040nr filing Individual retirement arrangements (IRAs), Qualified retirement plans and IRAs. 1040nr filing publicly offered, Publicly-offered mutual funds. 1040nr filing N Net Investment Income Tax, What's New, Net investment income tax (NIIT). 1040nr filing New York Liberty bonds, New York Liberty bonds. 1040nr filing NIIT, What's New, Net investment income tax (NIIT). 1040nr filing Nominee distributions Dividends, Nominees. 1040nr filing , Nominees. 1040nr filing Interest income, Nominees. 1040nr filing , Nominee distributions. 1040nr filing Original issue discount, Nominee. 1040nr filing Nonbusiness bad debts, Nonbusiness bad debt. 1040nr filing , Nonbusiness Bad Debts Noncapital assets, Capital Assets and Noncapital Assets Nondeductible investment expenses, Nondeductible Expenses Nondividend distributions, Nondividend Distributions Nonequity options, Nonequity option. 1040nr filing Nonqualified preferred stock, Nonqualified preferred stock. 1040nr filing Nonresident aliens Backup withholding, Nonresident aliens. 1040nr filing Nontaxable return of capital, Basis adjustment. 1040nr filing Nontaxable stock rights, Nontaxable stock rights. 1040nr filing Nontaxable trades, Nontaxable Trades, Nontaxable trades. 1040nr filing Notes Individuals, bought at discount, Notes of individuals. 1040nr filing U. 1040nr filing S. 1040nr filing Treasury (see U. 1040nr filing S. 1040nr filing Treasury bills, notes, and bonds) O Office expenses, Clerical help and office rent. 1040nr filing Options, Options Calls and puts, Puts and Calls Cash settlement, Cash-settled options. 1040nr filing , Cash settlement option. 1040nr filing Dealer equity, Dealer equity option. 1040nr filing Deep-in-the-money, Qualified covered call options and optioned stock. 1040nr filing Employee stock, Reminders Equity, Equity option. 1040nr filing Gain or loss, Options, Qualified covered call options and optioned stock. 1040nr filing Holding period, Option exercised. 1040nr filing Listed, Listed option. 1040nr filing Nonequity, Nonequity option. 1040nr filing Qualified covered call, Qualified covered call options and optioned stock. 1040nr filing Reporting requirements, How to report. 1040nr filing Section 1256 contracts, Section 1256 Contracts Marked to Market, Section 1256 contract options. 1040nr filing Wash sales, Options and futures contracts. 1040nr filing Ordinary gains and losses, Capital or Ordinary Gain or Loss, Ordinary loss or casualty loss. 1040nr filing Original issue discount (OID), Original issue discount. 1040nr filing , Original Issue Discount (OID), Stripped tax-exempt obligations. 1040nr filing , Original issue discount (OID) on debt instruments. 1040nr filing Adjustment to, Original issue discount (OID) adjustment. 1040nr filing Reporting requirements, Exceptions to reporting OID. 1040nr filing , Form 1099-OID Rules, Applying the OID Rules P Pass-through entities Rollover of gain, Pass-through entity. 1040nr filing Passive activities Gains and losses, Passive activity losses. 1040nr filing , Passive activity losses. 1040nr filing , Passive activity losses and credits. 1040nr filing , Losses from passive activities. 1040nr filing , Passive activity gains and losses. 1040nr filing Patronage dividends, Patronage dividends. 1040nr filing Penalties Accuracy-related, Accuracy-related penalty. 1040nr filing , Accuracy-related penalties. 1040nr filing Backup withholding, Penalties. 1040nr filing Civil fraud, Civil fraud penalty. 1040nr filing Early withdrawal, Interest subject to penalty for early withdrawal. 1040nr filing , Penalty on early withdrawal of savings. 1040nr filing Failure to pay tax, Failure to pay tax. 1040nr filing Failure to supply SSN, Penalty for failure to supply SSN. 1040nr filing Substantial understatement, Substantial understatement of tax. 1040nr filing Valuation misstatement, Substantial valuation misstatement. 1040nr filing Political parties Debts owed by, Debts owed by political parties. 1040nr filing Preferred stock Nonqualified, Nonqualified preferred stock. 1040nr filing Redeemable at a premium, Preferred stock redeemable at a premium. 1040nr filing Stripped, Stripped Preferred Stock Premiums on bonds, Bond premium. 1040nr filing , Premiums on bonds. 1040nr filing Private activity bonds, Private activity bonds. 1040nr filing Public utility stock reinvestment, Public utilities. 1040nr filing Publications (see Tax help) Puts and calls, Puts and Calls Table 4-3, Table 4-3. 1040nr filing Puts and Calls Q Qualified dividends, Qualified dividends. 1040nr filing Qualified small business stock, Qualified small business stock. 1040nr filing , Qualified small business stock. 1040nr filing , Gains on Qualified Small Business Stock Gains on, Gains on Qualified Small Business Stock R Real estate investment trusts (REITs), Undistributed capital gains of mutual funds and REITs. 1040nr filing , Shares in a mutual fund or REIT. 1040nr filing , Loss on mutual fund or REIT stock held 6 months or less. 1040nr filing Real estate mortgage investment conduits (REMICs), REMICs, Expenses. 1040nr filing , Including mutual fund or REMIC expenses in income. 1040nr filing Regular interest, Regular Interest Residual interest, Residual Interest, Residual interests in a REMIC. 1040nr filing Recordkeeping requirements Education Savings Bond Program, Education Savings Bond Program Investment income, General Information Small business stock, Losses on Section 1244 (Small Business) Stock Redemption of stock, Redemption of stock. 1040nr filing Redemption or retirement of bonds, Redemption or retirement of bonds. 1040nr filing Regulated futures contract, Regulated futures contract. 1040nr filing Reinvestment rights, Commissions and load charges. 1040nr filing REITs (see Real estate investment trusts (REITs)) Related party transactions, Unpaid expenses owed to related party. 1040nr filing , Related Party Transactions, Property received from a related party. 1040nr filing Related persons, Related persons. 1040nr filing REMICs (see Real estate mortgage investment conduits (REMICs)) Reorganizations, corporate, Corporate reorganizations. 1040nr filing Reporting requirements Bad debts, How to report bad debts. 1040nr filing Bond premium amortization, How To Report Amortization Capital gains and losses, How To Report Gains and Losses (Form 6781), How to report gain. 1040nr filing , Reporting Capital Gains and Losses Dividend income, How To Report Dividend Income Exempt-interest dividends, Information reporting requirement. 1040nr filing Interest on U. 1040nr filing S. 1040nr filing savings bonds, Reporting options for cash method taxpayers. 1040nr filing , Choice to report interest each year. 1040nr filing Investment expenses, How To Report Investment Expenses Like-kind exchanges, How to report. 1040nr filing Options, How to report. 1040nr filing Original issue discount, Form 1099-OID S corporation income, deductions, and credits, Reporting S corporation income, deductions, and credits. 1040nr filing Section 1256 contracts, How To Report State or local government obligations, Information reporting requirement. 1040nr filing Straddles, Section 1256 contracts and straddles. 1040nr filing Substitute payments, Reporting Substitute Payments Tax-exempt interest income, Reporting tax-exempt interest. 1040nr filing Trades, How To Report Repossession of real property, Real property repossessed. 1040nr filing Restricted property, Restricted property. 1040nr filing Restricted stock, Dividends received on restricted stock. 1040nr filing Retirement of debt instrument, Retirement of debt instrument. 1040nr filing Return of capital (see Nondividend distributions) Revocable trust, trustee's commissions for, Trustee's commissions for revocable trust. 1040nr filing Rollover of gain from sale Securities, Rollover of Gain From Publicly Traded Securities, Rollover of Gain S S corporations, S Corporations, S corporation stock. 1040nr filing Safe deposit box, Safe deposit box rent. 1040nr filing Sales and trades of investment property, Sales and Trades of Investment Property Definition, What Is a Sale or Trade? Savings bonds (see U. 1040nr filing S. 1040nr filing savings bonds) SBIC stock (see Small business investment company stock) Scrip dividends, Scrip dividends. 1040nr filing Section 1202 gain, Section 1202 Exclusion, Gain on qualified small business stock. 1040nr filing Section 1244 stock, Losses on Section 1244 (Small Business) Stock Section 1250 gain, Unrecaptured section 1250 gain. 1040nr filing Section 1256 contracts, Section 1256 Contracts Marked to Market, Section 1256 contracts. 1040nr filing , Section 1256 contract options. 1040nr filing , Section 1256 contracts and straddles. 1040nr filing Net gain on, Net section 1256 contracts gain. 1040nr filing Net loss on, Net section 1256 contracts loss. 1040nr filing Reporting requirements, How To Report Securities Holding period, Holding Period Installment sales, Installment sales. 1040nr filing Lost, stolen, etc. 1040nr filing , cost of replacing, Cost of replacing missing securities. 1040nr filing Rollover of gain from sale, Rollover of Gain From Publicly Traded Securities, Rollover of Gain Traders in, Special Rules for Traders in Securities Worthless, Worthless Securities, Worthless securities. 1040nr filing Securities futures contracts, Dealer securities futures contract. 1040nr filing , Securities futures contract. 1040nr filing , Securities Futures Contracts Self-employment income, Self-Employment Income Self-employment tax, Self-employment tax. 1040nr filing Seller-financed mortgages, Interest on seller-financed mortgage. 1040nr filing Short sales, Short Sales, Extraordinary dividends. 1040nr filing Adjusted basis, Short sales. 1040nr filing Expenses of, Short-sale expenses. 1040nr filing Extraordinary dividends, Extraordinary dividends. 1040nr filing Puts, Put option as short sale. 1040nr filing Small business investment company stock, Short sale. 1040nr filing Short-term capital gains and losses, Short-Term or Long-Term Capital Gain or Loss, Short-term gains and losses. 1040nr filing Short-term obligations, Discount on Short-Term Obligations, Choosing to include accrued discount and other interest in current income. 1040nr filing , Acquisition discount on short-term obligations. 1040nr filing , Short-term government obligations. 1040nr filing Interest deduction, limit on, Limit on interest deduction for short-term obligations. 1040nr filing Sixty/forty (60/40) rule, 60/40 rule. 1040nr filing Small business investment company stock, Losses on Small Business Investment Company Stock, SSBIC stock. 1040nr filing Reporting requirements, How to report. 1040nr filing Small business stock, Qualified small business stock. 1040nr filing , Losses on Section 1244 (Small Business) Stock, Qualified small business stock. 1040nr filing , Gains on Qualified Small Business Stock Social security number (SSN) Custodial accounts, Custodian account for your child. 1040nr filing Joint accounts, SSN for joint account. 1040nr filing Requirement to give, Social security number (SSN). 1040nr filing Specialized small business investment company stock, Specialized small business investment company stock or partnership interest. 1040nr filing , SSBIC stock. 1040nr filing Spouses Transfers between, Property Received From Your Spouse, Transfers Between Spouses (see also Related party transactions) State or local government obligations, State or Local Government Obligations, Taxable Interest Market discount bonds (see Market discount bonds) Private activity bonds, Private activity bonds. 1040nr filing Registration requirement, Registration requirement. 1040nr filing Tax-exempt interest, Tax-Exempt Interest Taxable interest, Taxable Interest Stock Basis, Basis adjustment. 1040nr filing , Basis adjustment. 1040nr filing , Basis. 1040nr filing , Stocks and Bonds, Basis of replacement stock. 1040nr filing Capital asset, Stocks, stock rights, and bonds. 1040nr filing Constructive ownership, Constructive ownership of stock. 1040nr filing Convertible, Convertible stocks and bonds. 1040nr filing Corporate, Corporate Stocks Dividends (see Dividends) Fractional shares, Fractional shares. 1040nr filing , Automatic investment service. 1040nr filing Identification, Identifying stock or bonds sold. 1040nr filing Installment sales, Installment sales. 1040nr filing Nonqualified preferred stock, Nonqualified preferred stock. 1040nr filing Options for employees, Reminders Public utility, reinvestment, Public utilities. 1040nr filing Redemption of, Redemption of stock. 1040nr filing Replacement stock, Basis of replacement stock. 1040nr filing Restricted stock, Dividends received on restricted stock. 1040nr filing Rights, Distributions of Stock and Stock Rights, Stock rights. 1040nr filing , Nontaxable stock rights. 1040nr filing S corporations, S corporation stock. 1040nr filing Sales to ESOPs or cooperatives, Sales of Stock to ESOPs or Certain Cooperatives Small business, Qualified small business stock. 1040nr filing , Qualified small business stock. 1040nr filing Specialized small business investment company, Specialized small business investment company stock or partnership interest. 1040nr filing Splits, Stock splits. 1040nr filing Straddles (see Straddles) Stripped preferred stock, Stripped Preferred Stock Surrender of, Surrender of stock. 1040nr filing Trades, Stock for stock of the same corporation. 1040nr filing Trust instruments treated as, Certain trust instruments treated as stock. 1040nr filing Straddles, Straddles, Interest expense and carrying charges relating to mixed straddle account positions. 1040nr filing Holding period, Holding Period and Loss Treatment Rules Interest expense and carrying charges, Interest expense and carrying charges on straddles. 1040nr filing Loss deferral rules, Loss Deferral Rules Mixed, Mixed straddles. 1040nr filing , Mixed straddles. 1040nr filing , Mixed Straddle Elections Reporting requirements, Section 1256 contracts and straddles. 1040nr filing Stripped bonds and coupons, Stripped bonds or coupons. 1040nr filing , Stripped Bonds and Coupons, Stripped tax-exempt obligation. 1040nr filing Stripped preferred stock, Stripped Preferred Stock Substitute payments, Reporting Substitute Payments T Tables Capital gains maximum rate (Table 4-4), Table 4-4. 1040nr filing What Is Your Maximum Capital Gain Rate? Income tax treaties (Table 1-3), Qualified Dividends Investment income, reporting of (Table 1-1), Table 1-1. 1040nr filing Where To Report Common Types of Investment Income Puts and calls (Table 4-3), Table 4-3. 1040nr filing Puts and Calls U. 1040nr filing S. 1040nr filing savings bonds, person responsible for tax (Table 1-2), Table 1-2. 1040nr filing Who Pays the Tax on U. 1040nr filing S. 1040nr filing Savings Bond Interest Tax credit bonds, Tax credit bonds. 1040nr filing Tax help, How To Get Tax Help Tax rates, What's New Capital gain and losses, Capital Gain Tax Rates Tax refunds Interest on, Interest on tax refunds. 1040nr filing Tax shelters, Tax Shelters and Other Reportable Transactions, Whether To Invest Penalties, Penalties Reporting requirements, Investor Reporting Rules to curb abuse, Rules To Curb Abusive Tax Shelters Tax-exempt bonds, Tax-exempt state and local government bonds. 1040nr filing Tax-exempt income Expenses of, Tax-exempt income. 1040nr filing Interest, Tax-Exempt Interest, Reporting tax-exempt interest. 1040nr filing Tax-exempt obligations, Tax-Exempt Interest, Stripped tax-exempt obligations. 1040nr filing , Discounted tax-exempt obligations. 1040nr filing Taxable income, expenses of, Expenses for both tax-exempt and taxable income. 1040nr filing Taxes State and local transfer, State and local transfer taxes. 1040nr filing State income, State income taxes. 1040nr filing Term loans, Term loans. 1040nr filing Trade or business, Passive activity. 1040nr filing Traders in securities, Special Rules for Traders in Securities Trades Insurance, Insurance Policies and Annuities Investment property, Sales and Trades of Investment Property Like-kind, Like-Kind Exchanges, Like-Kind Exchanges Nontaxable, Property Received in Nontaxable Trades, Nontaxable Trades, Nontaxable trades. 1040nr filing Reporting requirements, How To Report Stock, Stock for stock of the same corporation. 1040nr filing Taxable, Property Received in Taxable Trades U. 1040nr filing S. 1040nr filing Treasury notes or bonds, U. 1040nr filing S. 1040nr filing Treasury Notes or Bonds Treasury bills, notes, and bonds (see U. 1040nr filing S. 1040nr filing Treasury bills, notes, and bonds) Treasury inflation-indexed securities, Inflation-Indexed Debt Instruments Treasury inflation-protected securities (TIPS), Treasury inflation-protected securities (TIPS). 1040nr filing , Inflation-Indexed Debt Instruments Treaties, income tax (Table 1-3), Qualified Dividends Trust income received by beneficiary, Beneficiary of an estate or trust. 1040nr filing Trustee's commission for revocable trust, Trustee's commissions for revocable trust. 1040nr filing U U. 1040nr filing S. 1040nr filing savings bonds, U. 1040nr filing S. 1040nr filing obligations. 1040nr filing , U. 1040nr filing S. 1040nr filing Savings Bonds Reporting interest on, U. 1040nr filing S. 1040nr filing obligations. 1040nr filing , U. 1040nr filing S. 1040nr filing Savings Bonds Retirement or profit-sharing plan, distributed from, Savings bonds distributed from a retirement or profit-sharing plan. 1040nr filing Worksheet, Worksheet for savings bonds distributed from a retirement or profit-sharing plan. 1040nr filing Tax, responsible person (Table 1-2), Table 1-2. 1040nr filing Who Pays the Tax on U. 1040nr filing S. 1040nr filing Savings Bond Interest U. 1040nr filing S. 1040nr filing Treasury bills, notes, and bonds, U. 1040nr filing S. 1040nr filing obligations. 1040nr filing , U. 1040nr filing S. 1040nr filing Treasury Bills, Notes, and Bonds, U. 1040nr filing S. 1040nr filing Treasury Notes or Bonds, U. 1040nr filing S. 1040nr filing Treasury notes and bonds. 1040nr filing Undistributed capital gains, Undistributed capital gains. 1040nr filing Usurious interest, Usurious interest. 1040nr filing V Veterans' insurance Dividends on, Dividends on veterans' insurance. 1040nr filing W Warrants, Warrants. 1040nr filing Wash sales, Wash Sales, Securities Futures Contracts Holding period, Wash sales. 1040nr filing Loss deferral rules, straddles, Coordination of Loss Deferral Rules and Wash Sale Rules Withholding, backup, Backup withholding. 1040nr filing Worksheets Capital loss carryover, Worksheet 4-1. 1040nr filing Capital Loss Carryover Worksheet Worthless securities, Worthless Securities, Worthless securities. 1040nr filing Prev  Up     Home   More Online Publications
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Tax Relief for Victims of Tropical Storm Irene in Connecticut

E-file to Remain Open through Oct. 31 for Irene Victims

CT-2011-40, Sept. 6, 2011

WASHINGTON — Victims of Tropical Storm Irene that began on Aug. 27, 2011, in Connecticut may qualify for tax relief from the Internal Revenue Service.

The President has declared the following counties a federal disaster area: Fairfield, Hartford, Litchfield, Middlesex, New Haven, New London, Tolland and Windham. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Aug. 27, and on or before Oct. 31, have been postponed to Oct. 31, 2011. This includes corporations and other businesses that previously obtained an extension until Sept. 15 to file their 2010 returns, and individuals and businesses that received a similar extension until Oct. 17. It also includes the estimated tax payment for the third quarter, normally due Sept. 15.

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Aug. 27, and on or before Sept. 12, as long as the deposits are made by Sept. 12, 2011.

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

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 1-866-562-5227 to request this tax relief.

Covered Disaster Area

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

Affected Taxpayers

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

Grant of Relief

Under section 7508A, the IRS gives affected taxpayers until Oct. 31 to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date occurring on or after Aug. 27 and on or before Oct. 31.

The IRS also gives affected taxpayers until Oct. 31 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2007-56, 2007-34 I.R.B. 388 (Aug. 20, 2007), that are due to be performed on or after Aug. 27 and on or before Oct. 31.

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

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise tax deposits due on or after Aug. 27 and on or before Sept. 12 provided the taxpayer makes these deposits by Sept. 12.

Casualty Losses

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

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

Affected taxpayers claiming the disaster loss on last year’s return should put the Disaster Designation “Connecticut/Tropical Storm Irene” at the top of the form so that the IRS can expedite the processing of the refund.

Other Relief

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

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

Taxpayers may download forms and publications from this website, irs.gov, or order them by calling 1-800-TAX-FORM (1-800-829-3676). The IRS toll-free number for general tax questions is 1-800-829-1040.

Related Information

Disaster Assistance and Emergency Relief for Individuals and Businesses
Recent IRS Disaster Relief Announcements

 

 

Page Last Reviewed or Updated: 20-Feb-2014

The 1040nr Filing

1040nr filing 12. 1040nr filing   Self-Employment Tax Table of Contents What's New for 2013 What's New for 2014 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Why Pay Self-Employment Tax? How To Pay Self-Employment TaxReplacing a lost social security card. 1040nr filing Name change. 1040nr filing Penalty for underpayment of estimated tax. 1040nr filing Who Must Pay Self-Employment Tax?Limited partner. 1040nr filing Community property. 1040nr filing Figuring Self-Employment EarningsLandlord Participation in Farming Methods for Figuring Net EarningsRegular Method Farm Optional Method Nonfarm Optional Method Using Both Optional Methods Reporting Self-Employment Tax What's New for 2013 Tax rates. 1040nr filing  For tax years beginning in 2013, the social security part of the self-employment tax increases from 10. 1040nr filing 4% to 12. 1040nr filing 4%. 1040nr filing The Medicare part of the tax remains at 2. 1040nr filing 9%. 1040nr filing As a result, the self-employment tax is increased from 13. 1040nr filing 3% to 15. 1040nr filing 3%. 1040nr filing Additional Medicare Tax. 1040nr filing . 1040nr filing  For tax years beginning in 2013, a 0. 1040nr filing 9% Additional Medicare Tax applies to your Medicare wages, Railroad Retirement Tax Act (RRTA) compensation, and self-employment income above a threshold amount. 1040nr filing Use Form 8959, Additional Medicare Tax, to figure this tax. 1040nr filing For more information, see the Instructions for Form 8959. 1040nr filing Maximum net earnings. 1040nr filing  The maximum net self-employment earnings subject to the social security part (12. 1040nr filing 4%) of the self-employment tax increased to $113,700 for 2013. 1040nr filing There is no maximum limit on earnings subject to the Medicare part (2. 1040nr filing 9%). 1040nr filing What's New for 2014 Maximum net earnings. 1040nr filing  The maximum net self-employment earnings subject to the social security part of the self-employment tax for 2014 will be discussed in the 2013 Publication 334. 1040nr filing Introduction Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. 1040nr filing It is similar to the social security and Medicare taxes withheld from the pay of most wage earners. 1040nr filing You usually have to pay SE tax if you are self-employed. 1040nr filing You are usually self-employed if you operate your own farm on land you either own or rent. 1040nr filing You have to figure SE tax on Schedule SE (Form 1040). 1040nr filing Farmers who have employees may have to pay the employer's share of social security and Medicare taxes, as well. 1040nr filing See chapter 13 for information on employment taxes. 1040nr filing Self-employment tax rate. 1040nr filing   For tax years beginning in 2013, the self-employment tax rate is 15. 1040nr filing 3%. 1040nr filing The rate consists of two parts: 12. 1040nr filing 4% for social security (old-age, survivors, and disability insurance) and 2. 1040nr filing 9% for Medicare (hospital insurance). 1040nr filing Topics - This chapter discusses: Why pay self-employment tax How to pay self-employment tax Who must pay self-employment tax Figuring self-employment earnings Landlord participation in farming Methods for figuring net earnings Reporting self-employment tax Useful Items - You may want to see: Publication 541 Partnerships Form (and Instructions) 1040 U. 1040nr filing S. 1040nr filing Individual Income Tax Return Sch F (Form 1040) Profit or Loss From Farming Sch SE (Form 1040) Self-Employment Tax 1065 U. 1040nr filing S. 1040nr filing Return of Partnership Income Sch K-1 (Form 1065) Partner's Share of Income, Deductions, Credits, etc. 1040nr filing See chapter 16 for information about getting publications and forms. 1040nr filing Why Pay Self-Employment Tax? Social security benefits are available to self-employed persons just as they are to wage earners. 1040nr filing Your payments of SE tax contribute to your coverage under the social security system. 1040nr filing Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits. 1040nr filing How to become insured under social security. 1040nr filing   You must be insured under the social security system before you begin receiving social security benefits. 1040nr filing You are insured if you have the required number of credits (also called quarters of coverage). 1040nr filing Earning credits in 2013. 1040nr filing   You can earn a maximum of four credits per year. 1040nr filing For 2013, you earn one credit for each $1,160 of combined wages and self-employment earnings subject to social security tax. 1040nr filing You need $4,640 ($1,160 × 4) of combined wages and self-employment earnings subject to social security tax to earn four credits in 2013. 1040nr filing It does not matter whether the income is earned in 1 quarter or is spread over 2 or more quarters. 1040nr filing For an explanation of the number of credits you must have to be insured and the benefits available to you and your family under the social security program, consult your nearest Social Security Administration (SSA) office or visit the SSA website at www. 1040nr filing socialsecurity. 1040nr filing gov. 1040nr filing Making false statements to get or to increase social security benefits may subject you to penalties. 1040nr filing The Social Security Administration (SSA) time limit for posting self-employment earnings. 1040nr filing   Generally, the SSA will give you credit only for self-employment earnings reported on a tax return filed within 3 years, 3 months, and 15 days after the tax year you earned the income. 1040nr filing    If you file your tax return or report a change in your self-employment earnings after the SSA time limit for posting self-employment earnings, the SSA may change its records, but only to remove or reduce the amount. 1040nr filing The SSA will not change its records to increase your self-employment earnings after the SSA time limit listed above. 1040nr filing How To Pay Self-Employment Tax To pay SE tax, you must have a social security number (SSN) or an individual taxpayer identification number (ITIN). 1040nr filing This section explains how to: Obtain an SSN or ITIN, and Pay your SE tax using estimated tax. 1040nr filing An ITIN does not entitle you to social security benefits. 1040nr filing Obtaining an ITIN does not change your immigration or employment status under U. 1040nr filing S. 1040nr filing law. 1040nr filing Obtaining a social security number. 1040nr filing   If you have never had an SSN, apply for one using Form SS-5, Application for a Social Security Card. 1040nr filing The application is also available in Spanish. 1040nr filing You can get this form at any Social Security office or by calling 1-800-772-1213. 1040nr filing    You can also download Form SS-5 from the Social Security Administration website at  www. 1040nr filing socialsecurity. 1040nr filing gov. 1040nr filing   If you have a social security number from the time you were an employee, you must use that number. 1040nr filing Do not apply for a new one. 1040nr filing Replacing a lost social security card. 1040nr filing   If you have a number but lost your card, file Form SS-5. 1040nr filing You will get a new card showing your original number, not a new number. 1040nr filing Name change. 1040nr filing   If your name has changed since you received your social security card, complete Form SS-5 to report a name change. 1040nr filing Obtaining an individual taxpayer identification number. 1040nr filing   The IRS will issue you an ITIN, for tax use only, if you are a nonresident or resident alien and you do not have, and are not eligible to get, an SSN. 1040nr filing To apply for an ITIN, file Form W-7, Application for IRS Individual Taxpayer Identification Number. 1040nr filing You can get this form by calling 1-800-829-3676. 1040nr filing For more information on ITINs, see Publication 1915, Understanding Your IRS Individual Taxpayer Identification Number. 1040nr filing Form W-7 and Publication 1915 are also available in Spanish. 1040nr filing    You can also download Form W-7 from the IRS website at IRS. 1040nr filing gov. 1040nr filing Paying estimated tax. 1040nr filing   Estimated tax is the method used to pay tax (including SE tax) on income not subject to withholding. 1040nr filing You generally have to make estimated tax payments if you expect to owe tax, including SE tax, of $1,000 or more when you file your return. 1040nr filing Use Form 1040-ES, Estimated Tax for Individuals, to figure and pay the tax. 1040nr filing   However, if at least two-thirds of your gross income for 2013 or 2014 was from farming and you file your 2014 Form 1040 and pay all the tax due by March 2, 2015, you do not have to pay any estimated tax. 1040nr filing For more information about estimated tax for farmers, see chapter 15. 1040nr filing Penalty for underpayment of estimated tax. 1040nr filing   You may have to pay a penalty if you do not pay enough estimated tax by its due date. 1040nr filing Who Must Pay Self-Employment Tax? You must pay SE tax and file Schedule SE (Form 1040) if your net earnings from self-employment were $400 or more. 1040nr filing The SE tax rules apply no matter how old you are and even if you are already receiving social security or Medicare benefits. 1040nr filing Aliens. 1040nr filing   Generally, resident aliens must pay self-employment tax under the same rules that apply to U. 1040nr filing S. 1040nr filing citizens. 1040nr filing Nonresident aliens are not subject to self-employment tax. 1040nr filing However, residents of the Virgin Islands, Puerto Rico, Guam, the Commonwealth of the Northern Mariana Islands, or American Samoa are subject to self-employment tax, as they are considered U. 1040nr filing S. 1040nr filing residents for self-employment tax purposes. 1040nr filing For more information on aliens, see Publication 519, U. 1040nr filing S. 1040nr filing Tax Guide for Aliens. 1040nr filing Are you self-employed?   You are self-employed if you carry on a trade or business (such as running a farm) as a sole proprietor, an independent contractor, a member of a partnership, or are otherwise in business for yourself. 1040nr filing A trade or business is generally an activity carried on for a livelihood or in good faith to make a profit. 1040nr filing Share farmer. 1040nr filing   You are a self-employed farmer under an income-sharing arrangement if both the following apply. 1040nr filing You produce a crop or raise livestock on land belonging to another person. 1040nr filing Your share of the crop or livestock, or the proceeds from their sale, depends on the amount produced. 1040nr filing Your net farm profit or loss from the income-sharing arrangement is reported on Schedule F (Form 1040) and included in your self-employment earnings. 1040nr filing   If you produce a crop or livestock on land belonging to another person and are to receive a specified rate of pay, a fixed sum of money, or a fixed quantity of the crop or livestock, and not a share of the crop or livestock or their proceeds, you may be either self-employed or an employee of the landowner. 1040nr filing This will depend on whether the landowner has the right to direct or control your performance of services. 1040nr filing Example. 1040nr filing A share farmer produces a crop on land owned by another person on a 50-50 crop-share basis. 1040nr filing Under the terms of their agreement, the share farmer furnishes the labor and half the cost of seed and fertilizer. 1040nr filing The landowner furnishes the machinery and equipment used to produce and harvest the crop, and half the cost of seed and fertilizer. 1040nr filing The share farmer is provided a house in which to live. 1040nr filing The landowner and the share farmer decide on a cropping plan. 1040nr filing The share farmer is a self-employed farmer for purposes of the agreement to produce the crops, and the share farmer's part of the profit or loss from the crops is reported on Schedule F (Form 1040) and included in self-employment earnings. 1040nr filing The tax treatment of the landowner is discussed later under Landlord Participation in Farming. 1040nr filing Contract farming. 1040nr filing   Under typical contract farming arrangements, the grower receives a fixed payment per unit of crops or finished livestock delivered to the processor or packing company. 1040nr filing Since the grower typically furnishes labor and bears some production risk, the payments are reported on Schedule F and are therefore subject to self-employment tax. 1040nr filing 4-H Club or FFA project. 1040nr filing   If an individual participates in a 4-H Club or Future Farmers of America (FFA) project, any net income received from sales or prizes related to the project may be subject to income tax. 1040nr filing Report the net income as “Other income” on line 21 of Form 1040. 1040nr filing If necessary, attach a statement showing the gross income and expenses. 1040nr filing The net income may not be subject to SE tax if the project is primarily for educational purposes and not for profit, and is completed by the individual under the rules and economic restrictions of the sponsoring 4-H or FFA organization. 1040nr filing Such a project is generally not considered a trade or business. 1040nr filing Partners in a partnership. 1040nr filing   Generally, you are self-employed if you are a member of a partnership that carries on a trade or business. 1040nr filing Limited partner. 1040nr filing   If you are a limited partner, your partnership income is generally not subject to SE tax. 1040nr filing However, guaranteed payments you receive for services you perform for the partnership are subject to SE tax and should be reported to you in box 14 of your Schedule K-1 (Form 1065). 1040nr filing Business Owned and Operated by Spouses. 1040nr filing   If you and your spouse jointly own and operate a farm as an unincorporated business and share in the profits and losses, you are partners in a partnership whether or not you have a formal partnership agreement. 1040nr filing You must file Form 1065, instead of Schedule F, unless you make a joint election to be treated as a qualified joint venture. 1040nr filing Making this election will allow you to avoid the complexity of Form 1065 but still give each spouse credit for social security earnings on which retirement benefits are based. 1040nr filing Qualified joint venture. 1040nr filing   If you and your spouse each materially participate as the only members of a jointly owned and operated farm, and you file a joint tax return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership for the tax year. 1040nr filing For an explanation of “material participation,” see the instructions for Schedule C, line G, and the instructions for Schedule F, line E. 1040nr filing   To make this election, you must divide all items of income, gain, loss, deduction, and credit attributable to the business between you and your spouse in accordance with your respective interests in the venture. 1040nr filing Each of you must file a separate Schedule F and a separate Schedule SE. 1040nr filing For more information, see Qualified Joint Venture in the Instructions for Schedule SE (Form 1040). 1040nr filing Spouse employee. 1040nr filing   If your spouse is your employee, not your partner, you must withhold and pay social security and Medicare taxes for him or her. 1040nr filing For more information about employment taxes, see chapter 13. 1040nr filing Community property. 1040nr filing   If you are a partner and your distributive share of any income or loss from a trade or business carried on by the partnership is community property, treat your share as your self-employment earnings. 1040nr filing Do not treat any of your share as self-employment earnings of your spouse. 1040nr filing Figuring Self-Employment Earnings Farmer. 1040nr filing   If you are self-employed as a farmer, use Schedule F (Form 1040) to figure your self-employment earnings. 1040nr filing Partnership income or loss. 1040nr filing   If you are a member of a partnership that carries on a trade or business, the partnership should report your self-employment earnings in box 14, code A, of your Schedule K-1 (Form 1065). 1040nr filing Box 14 of Schedule K-1 may also provide amounts for gross farming or fishing income (code B) and gross nonfarm income (code C). 1040nr filing Use these amounts if you use the farm or nonfarm optional method to figure net earnings from self-employment (see Methods for Figuring Net Earnings , later). 1040nr filing   If you are a general partner, you may need to reduce these reported earnings by amounts you claim as a section 179 deduction, unreimbursed partnership expenses, or depletion on oil and gas properties. 1040nr filing   If the amount reported is a loss, include only the deductible amount when you figure your total self-employment earnings. 1040nr filing   For more information, see the Partner's Instructions for Schedule K-1 (Form 1065). 1040nr filing   For general information on partnerships, see Publication 541. 1040nr filing More than one business. 1040nr filing   If you have self-employment earnings from more than one trade, business, or profession, you generally must combine the net profit or loss from each to determine your total self-employment earnings. 1040nr filing A loss from one business reduces your profit from another business. 1040nr filing However, do not combine earnings from farm and nonfarm businesses if you are using one of the optional methods (discussed later) to figure net earnings. 1040nr filing Community property. 1040nr filing   If any of the income from a farm or business, other than a partnership, is community property under state law, it is included in the self-employment earnings of the spouse carrying on the trade or business. 1040nr filing Lost income payments. 1040nr filing   Lost income payments received from insurance or other sources for reducing or stopping farming activities are included in self-employment earnings. 1040nr filing These include USDA payments to compensate for lost income resulting from reductions in tobacco quotas and allotments. 1040nr filing Even if you are not farming when you receive the payment, it is included in self-employment earnings if it relates to your farm business (even though it is temporarily inactive). 1040nr filing A connection exists if it is clear the payment would not have been made but for your conduct of your farm business. 1040nr filing Gain or loss. 1040nr filing   A gain or loss from the disposition of property that is neither stock in trade nor held primarily for sale to customers is not included in self-employment earnings. 1040nr filing It does not matter whether the disposition is a sale, exchange, or involuntary conversion. 1040nr filing For example, gains or losses from the disposition of the following types of property are not included in self-employment earnings. 1040nr filing Investment property. 1040nr filing Depreciable property or other fixed assets used in your trade or business. 1040nr filing Livestock held for draft, breeding, sport, or dairy purposes, and not held primarily for sale, regardless of how long the livestock was held, or whether it was raised or purchased. 1040nr filing Unharvested standing crops sold with land held more than 1 year. 1040nr filing Timber, coal, or iron ore held for more than 1 year if an economic interest was retained, such as a right to receive coal royalties. 1040nr filing   A gain or loss from the cutting of timber is not included in self-employment earnings if the cutting is treated as a sale or exchange. 1040nr filing For more information on electing to treat the cutting of timber as a sale or exchange, see Timber in chapter 8. 1040nr filing Wages and salaries. 1040nr filing   Wages and salaries received for services performed as an employee and covered by social security or railroad retirement are not included in self-employment earnings. 1040nr filing   Wages paid in kind to you for agricultural labor, such as commodity wages, are not included in self-employment earnings. 1040nr filing Retired partner. 1040nr filing   Retirement income received by a partner from his or her partnership under a written plan is not included in self-employment earnings if all the following apply. 1040nr filing The retired partner performs no services for the partnership during the year. 1040nr filing The retired partner is owed only the retirement payments. 1040nr filing The retired partner's share (if any) of the partnership capital was fully paid to the retired partner. 1040nr filing The payments to the retired partner are lifelong periodic payments. 1040nr filing Conservation Reserve Program (CRP) payments. 1040nr filing   Under the Conservation Reserve Program (CRP), if you own or operate highly erodible or other specified cropland, you may enter into a longterm contract with the USDA, agreeing to convert to a less intensive use of that cropland. 1040nr filing You must include the annual rental payments and any onetime incentive payment you receive under the program on Schedule F, lines 4a and 4b. 1040nr filing Cost share payments you receive may qualify for the costsharing exclusion. 1040nr filing See Cost-Sharing Exclusion (Improvements), above. 1040nr filing CRP payments are reported to you on Form 1099G. 1040nr filing Individuals who are receiving Social Security retirement or disability benefits may exclude CRP payments when calculating self-employment tax. 1040nr filing See the instructions for Schedule SE (Form 1040). 1040nr filing Self-employed health insurance deduction. 1040nr filing   You cannot deduct the self-employed health insurance deduction you report on Form 1040, line 29, from self-employment earnings on Schedule SE (Form 1040). 1040nr filing Landlord Participation in Farming As a general rule, income and deductions from rentals and from personal property leased with real estate are not included in determining self-employment earnings. 1040nr filing However, income and deductions from farm rentals, including government commodity program payments received by a landowner who rents land, are included if the rental arrangement provides that the landowner will, and does, materially participate in the production or management of production of the farm products on the land. 1040nr filing Crop shares. 1040nr filing   Rent paid in the form of crop shares is included in self-employment earnings for the year you sell, exchange, give away, or use the crop shares if you meet one of the four material participation tests (discussed next) at the time the crop shares are produced. 1040nr filing Feeding such crop shares to livestock is considered using them. 1040nr filing Your gross income for figuring your self-employment earnings includes the fair market value of the crop shares when they are used as feed. 1040nr filing Material participation for landlords. 1040nr filing   You materially participate if you have an arrangement with your tenant for your participation and you meet one or more of the following tests. 1040nr filing You do at least three of the following. 1040nr filing Pay, using cash or credit, at least half the direct costs of producing the crop or livestock. 1040nr filing Furnish at least half the tools, equipment, and livestock used in the production activities. 1040nr filing Advise or consult with your tenant. 1040nr filing Inspect the production activities periodically. 1040nr filing You regularly and frequently make, or take an important part in making, management decisions substantially contributing to or affecting the success of the enterprise. 1040nr filing You work 100 hours or more spread over a period of 5 weeks or more in activities connected with agricultural production. 1040nr filing You do things that, considered in their totality, show you are materially and significantly involved in the production of the farm commodities. 1040nr filing These tests may be used as general guides for determining whether you are a material participant. 1040nr filing Example. 1040nr filing Drew Houston agrees to produce a crop on J. 1040nr filing Clarke's cotton farm, with each receiving half the proceeds. 1040nr filing Clarke advises Houston when to plant, spray, and pick the cotton. 1040nr filing During the growing season, Clarke inspects the crop every few days to determine whether Houston is properly taking care of the crop. 1040nr filing Houston furnishes all labor needed to grow and harvest the crop. 1040nr filing The management decisions made by Clarke in connection with the care of the cotton crop and his regular inspection of the crop establish that he participates to a material degree in the cotton production operations. 1040nr filing The income Clarke receives from his cotton farm is included in his self-employment earnings. 1040nr filing Methods for Figuring Net Earnings There are three ways to figure your net earnings from self-employment. 1040nr filing The regular method. 1040nr filing The farm optional method. 1040nr filing The nonfarm optional method. 1040nr filing You must use the regular method unless you are eligible to use one or both of the optional methods. 1040nr filing See Figure 12-1 , shown later. 1040nr filing Figure 12-1. 1040nr filing Can I Use the Optional Methods? Please click here for the text description of the image. 1040nr filing Figure 12–1. 1040nr filing Can I Use the Optional Methods? Why use an optional method?   You may want to use the optional methods (discussed later) when you have a loss or a small net profit and any one of the following applies. 1040nr filing You want to receive credit for social security benefit coverage. 1040nr filing You incurred child or dependent care expenses for which you could claim a credit. 1040nr filing (An optional method may increase your earned income, which could increase your credit. 1040nr filing ) You are entitled to the earned income credit. 1040nr filing (An optional method may increase your earned income, which could increase your credit. 1040nr filing ) You are entitled to the additional child tax credit. 1040nr filing (An optional method may increase your earned income, which could increase your credit. 1040nr filing ) Effects of using an optional method. 1040nr filing   Using an optional method could increase your SE tax. 1040nr filing Paying more SE tax may result in you getting higher social security disability or retirement benefits. 1040nr filing   If you use either or both optional methods, you must figure and pay the SE tax due under these methods even if you would have had a smaller SE tax or no SE tax using the regular method. 1040nr filing   The optional methods may be used only to figure your SE tax. 1040nr filing To figure your income tax, include your actual self-employment earnings in gross income, regardless of which method you use to determine SE tax. 1040nr filing Regular Method Multiply your total self-employment earnings by 92. 1040nr filing 35% (. 1040nr filing 9235) to get your net earnings under the regular method. 1040nr filing See Short Schedule SE, line 4, or Long Schedule SE, line 4a. 1040nr filing Net earnings figured using the regular method are also called “actual net earnings. 1040nr filing ” Farm Optional Method Use the farm optional method only for self-employment earnings from a farming business. 1040nr filing You can use this method if you meet either of the following tests. 1040nr filing Your gross farm income is $6,960 or less. 1040nr filing Your net farm profits are less than $5,024. 1040nr filing Gross farm income. 1040nr filing   Your gross farm income is the total of the amounts from: Schedule F (Form 1040), line 9, and Schedule K-1 (Form 1065), box 14, code B (from farm partnerships). 1040nr filing Net farm profits. 1040nr filing   Net farm profits generally are the total of the amounts from: Schedule F (Form 1040), line 34, and Schedule K-1 (Form 1065), box 14, code A (from farm partnerships). 1040nr filing However, you may need to adjust the amount reported on Schedule K-1 if you are a general partner or if it is a loss. 1040nr filing For more information, see Partnership income or loss , earlier. 1040nr filing Figuring farm net earnings. 1040nr filing   If you meet either of the two tests explained above, use Table 12-1. 1040nr filing Figuring Farm Net Earnings , to figure your net earnings from self-employment under the farm optional method. 1040nr filing Table 12-1. 1040nr filing Figuring Farm Net Earnings IF your gross farm income  is. 1040nr filing . 1040nr filing . 1040nr filing THEN your net earnings are equal to. 1040nr filing . 1040nr filing . 1040nr filing $6,960 or less Two-thirds of your gross farm income. 1040nr filing More than $6,960 $4,640 Optional method can reduce or eliminate SE tax. 1040nr filing   If your gross farm income is $6,960 or less and your farm net earnings figured under the farm optional method are less than your actual net earnings, you can use the farm optional method to reduce or eliminate your SE tax. 1040nr filing Your actual net earnings are your net earnings figured using the regular method, explained earlier. 1040nr filing Example. 1040nr filing Your gross farm income is $540 and your net farm profit is $460. 1040nr filing Consequently, your net earnings figured under the farm optional method are $360 (2/3 of $540) and your actual net earnings are $425 (92. 1040nr filing 35% of $460). 1040nr filing You owe no SE tax if you use the optional method because your net earnings under the farm optional method are less than $400. 1040nr filing Nonfarm Optional Method This is an optional method available for determining net earnings from nonfarm self-employment, much like the farm optional method. 1040nr filing If you are also engaged in a nonfarm business, you may be able to use this method to figure your nonfarm net earnings. 1040nr filing You can use this method even if you do not use the farm optional method for determining your farm net earnings and even if you have a net loss from your nonfarm business. 1040nr filing For more information about the nonfarm optional method, see Publication 334. 1040nr filing You cannot combine farm and nonfarm self-employment earnings to figure your net earnings under either of the optional methods. 1040nr filing Using Both Optional Methods If you use both optional methods, you must add the net earnings figured under each method to arrive at your total net earnings from self-employment. 1040nr filing You can report less than your total actual farm and nonfarm net earnings but not less than actual nonfarm net earnings. 1040nr filing If you use both optional methods, you can report no more than $4,640 as your combined net earnings from self-employment. 1040nr filing Reporting Self-Employment Tax Use Schedule SE (Form 1040) to figure and report your SE tax. 1040nr filing Then, enter the SE tax on line 56 of Form 1040 and attach Schedule SE to Form 1040. 1040nr filing Most taxpayers can use Section A–Short Schedule SE to figure their SE tax. 1040nr filing However, certain taxpayers must use Section B–Long Schedule SE. 1040nr filing Use the chart on page 1 of Schedule SE to find out which one to use. 1040nr filing If you have to pay SE tax, you must file Form 1040 (with Schedule SE attached) even if you do not otherwise have to file a federal income tax return. 1040nr filing Deduction for employer-equivalent portion of self-employment tax. 1040nr filing   You can deduct the employer-equivalent portion of your SE tax in figuring your adjusted gross income. 1040nr filing This deduction only affects your income tax. 1040nr filing It does not affect either your net earnings from self-employment or your SE tax. 1040nr filing   To deduct the tax, enter on Form 1040, line 27, the amount shown on Section A, Line 6, or Section B, line 13, Deduction for employer-equivalent portion of self-employment tax, of the Schedule SE. 1040nr filing Joint return. 1040nr filing   Even if you file a joint return, you cannot file a joint Schedule SE. 1040nr filing This is true whether one spouse or both spouses have self-employment earnings. 1040nr filing Your spouse is not considered self-employed just because you are. 1040nr filing If both of you have self-employment earnings, each of you must complete a separate Schedule SE. 1040nr filing However, if one spouse uses the Short Schedule SE and the other spouse has to use the Long Schedule SE, both can use the same form. 1040nr filing Attach both schedules to the joint return. 1040nr filing If you and your spouse operate a business as a partnership, see Business Owned and Operated by Spouses and Qualified joint venture , earlier, under Who Must Pay Self-Employment Tax . 1040nr filing Prev  Up  Next   Home   More Online Publications