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2009 Tax Forms 1040

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2009 Tax Forms 1040

2009 tax forms 1040 5. 2009 tax forms 1040   Table and Worksheets for the Self-Employed Table of Contents Community property laws. 2009 tax forms 1040 As discussed in chapters 2 and 4, if you are self-employed, you must use the rate table or rate worksheet and deduction worksheet to figure your deduction for contributions you made for yourself to a SEP-IRA or qualified plan. 2009 tax forms 1040 First, use either the rate table or rate worksheet to find your reduced contribution rate. 2009 tax forms 1040 Then complete the deduction worksheet to figure your deduction for contributions. 2009 tax forms 1040 The table and the worksheets in chapter 5 apply only to self-employed individuals who have only one defined contribution plan, such as a profit-sharing plan. 2009 tax forms 1040 A SEP plan is treated as a profit-sharing plan. 2009 tax forms 1040 However, do not use this worksheet for SARSEPs. 2009 tax forms 1040 Rate table for self-employed. 2009 tax forms 1040   If your plan's contribution rate is a whole percentage (for example, 12% rather than 12½%), you can use the table on the next page to find your reduced contribution rate. 2009 tax forms 1040 Otherwise, use the rate worksheet provided below. 2009 tax forms 1040   First, find your plan contribution rate (the contribution rate stated in your plan) in Column A of the table. 2009 tax forms 1040 Then read across to the rate under Column B. 2009 tax forms 1040 Enter the rate from Column B in step 4 of the Deduction Worksheet for Self-Employed on this page. 2009 tax forms 1040    Example. 2009 tax forms 1040 You are a sole proprietor with no employees. 2009 tax forms 1040 If your plan's contribution rate is 10% of a participant's compensation, your rate is 0. 2009 tax forms 1040 090909. 2009 tax forms 1040 Enter this rate in step 4 of the Deduction Worksheet for Self-Employed on this page. 2009 tax forms 1040 Deduction Worksheet for Self-Employed   Step 1           Enter your net profit from line 31, Schedule C (Form 1040); line 3, Schedule C-EZ (Form 1040); line 34, Schedule F (Form 1040)*; or box 14, code A**, Schedule K-1 (Form 1065)*. 2009 tax forms 1040 For information on other income included in net profit from self-employment, see the Instructions for Schedule SE, Form 1040. 2009 tax forms 1040       *Reduce this amount by any amount reported on Schedule SE (Form 1040), line 1b. 2009 tax forms 1040       **General partners should reduce this amount by the same additional expenses subtracted from box 14, code A to determine the amount on line 1 or 2 of Schedule SE. 2009 tax forms 1040     Step 2           Enter your deduction for self-employment tax from Form 1040, line 27             Step 3           Net earnings from self-employment. 2009 tax forms 1040 Subtract step 2 from step 1     Step 4           Enter your rate from the Rate Table for Self-Employed or Rate Worksheet for Self-Employed     Step 5           Multiply step 3 by step 4     Step 6           Multiply $255,000 by your plan contribution rate (not the reduced rate)     Step 7           Enter the smaller of step 5 or step 6     Step 8           Contribution dollar limit $51,000     • If you made any elective deferrals to your self-employed plan, go to step 9. 2009 tax forms 1040         • Otherwise, skip steps 9 through 20 and enter the smaller of step 7 or step 8 on step 21. 2009 tax forms 1040       Step 9           Enter your allowable elective deferrals (including designated Roth contributions) made to your self-employed plan during 2013. 2009 tax forms 1040 Do not enter more than $17,500     Step 10           Subtract step 9 from step 8     Step 11           Subtract step 9 from step 3       Step 12           Enter one-half of step 11     Step 13           Enter the smallest of step 7, 10, or 12     Step 14           Subtract step 13 from step 3     Step 15           Enter the smaller of step 9 or step 14       • If you made catch-up contributions, go to step 16. 2009 tax forms 1040         • Otherwise, skip steps 16 through 18 and go to step 19. 2009 tax forms 1040       Step 16           Subtract step 15 from step 14     Step 17           Enter your catch-up contributions (including designated Roth contributions), if any. 2009 tax forms 1040 Do not enter more than $5,500     Step 18           Enter the smaller of step 16 or step 17     Step 19           Add steps 13, 15, and 18. 2009 tax forms 1040     Step 20           Enter the amount of designated Roth contributions included on lines 9 and 17. 2009 tax forms 1040     Step 21           Subtract step 20 from step 19. 2009 tax forms 1040 This is your maximum deductible contribution. 2009 tax forms 1040                 Next: Enter your actual contribution, not to exceed your maximum deductible contribution, on Form 1040, line 28. 2009 tax forms 1040   Rate worksheet for self-employed. 2009 tax forms 1040   If your plan's contribution rate is not a whole percentage (for example, 10½%), you cannot use the Rate Table for Self-Employed. 2009 tax forms 1040 Use the following worksheet instead. 2009 tax forms 1040 Rate Worksheet for Self-Employed 1) Plan contribution rate as a decimal (for example, 10½% = 0. 2009 tax forms 1040 105)   2) Rate in line 1 plus 1 (for example, 0. 2009 tax forms 1040 105 + 1 = 1. 2009 tax forms 1040 105)   3) Self-employed rate as a decimal rounded to at least 3 decimal places (line 1 ÷ line 2) (for example, 0. 2009 tax forms 1040 105 ÷ 1. 2009 tax forms 1040 105 = 0. 2009 tax forms 1040 095)   Figuring your deduction. 2009 tax forms 1040   Now that you have your self-employed rate from either the rate table or rate worksheet, you can figure your maximum deduction for contributions for yourself by completing the Deduction Worksheet for Self-Employed. 2009 tax forms 1040 Community property laws. 2009 tax forms 1040   If you reside in a community property state and you are married and filing a separate return, disregard community property laws for step 1 of the Deduction Worksheet for Self-Employed. 2009 tax forms 1040 Enter on step 1 the total net profit you actually earned. 2009 tax forms 1040 Rate Table for Self-Employed Column A  If the plan contri- bution rate is: (shown as %) Column B  Your rate is: (shown as decimal) 1 . 2009 tax forms 1040 009901 2 . 2009 tax forms 1040 019608 3 . 2009 tax forms 1040 029126 4 . 2009 tax forms 1040 038462 5 . 2009 tax forms 1040 047619 6 . 2009 tax forms 1040 056604 7 . 2009 tax forms 1040 065421 8 . 2009 tax forms 1040 074074 9 . 2009 tax forms 1040 082569 10 . 2009 tax forms 1040 090909 11 . 2009 tax forms 1040 099099 12 . 2009 tax forms 1040 107143 13 . 2009 tax forms 1040 115044 14 . 2009 tax forms 1040 122807 15 . 2009 tax forms 1040 130435 16 . 2009 tax forms 1040 137931 17 . 2009 tax forms 1040 145299 18 . 2009 tax forms 1040 152542 19 . 2009 tax forms 1040 159664 20 . 2009 tax forms 1040 166667 21 . 2009 tax forms 1040 173554 22 . 2009 tax forms 1040 180328 23 . 2009 tax forms 1040 186992 24 . 2009 tax forms 1040 193548 25* . 2009 tax forms 1040 200000* *The deduction for annual employer contributions (other than elective deferrals) to a SEP plan, a profit-sharing plan, or a money purchase plan cannot be more than 20% of your net earnings (figured without deducting contributions for yourself) from the business that has the plan. 2009 tax forms 1040 Example. 2009 tax forms 1040 You are a sole proprietor with no employees. 2009 tax forms 1040 The terms of your plan provide that you contribute 8½% (. 2009 tax forms 1040 085) of your compensation to your plan. 2009 tax forms 1040 Your net profit from line 31, Schedule C (Form 1040) is $200,000. 2009 tax forms 1040 You have no elective deferrals or catch-up contributions. 2009 tax forms 1040 Your self-employment tax deduction on line 27 of Form 1040 is $9,728. 2009 tax forms 1040 See the filled-in portions of both Schedule SE (Form 1040), Self-Employment Income, and Form 1040, later. 2009 tax forms 1040 You figure your self-employed rate and maximum deduction for employer contributions you made for yourself as follows. 2009 tax forms 1040 Deduction Worksheet for Self-Employed   Step 1           Enter your net profit from line 31, Schedule C (Form 1040); line 3, Schedule C-EZ (Form 1040); line 34, Schedule F (Form 1040)*; or box 14, code A**, Schedule K-1 (Form 1065)*. 2009 tax forms 1040 For information on other income included in net profit from self-employment, see the Instructions for Schedule SE, Form 1040. 2009 tax forms 1040 $200,000     *Reduce this amount by any amount reported on Schedule SE (Form 1040), line 1b. 2009 tax forms 1040       **General partners should reduce this amount by the same additional expenses subtracted from box 14, code A to determine the amount on line 1 or 2 of Schedule SE. 2009 tax forms 1040     Step 2           Enter your deduction for self-employment tax from Form 1040, line 27 9,728           Step 3           Net earnings from self-employment. 2009 tax forms 1040 Subtract step 2 from step 1 190,272   Step 4           Enter your rate from the Rate Table for Self-Employed or Rate Worksheet for Self-Employed 0. 2009 tax forms 1040 078   Step 5           Multiply step 3 by step 4 14,841   Step 6           Multiply $255,000 by your plan contribution rate (not the reduced rate) 21,675   Step 7           Enter the smaller of step 5 or step 6 14,841   Step 8           Contribution dollar limit $51,000     • If you made any elective deferrals to your self-employed plan, go to step 9. 2009 tax forms 1040         • Otherwise, skip steps 9 through 20 and enter the smaller of step 7 or step 8 on step 21. 2009 tax forms 1040       Step 9           Enter your allowable elective deferrals (including designated Roth contributions) made to your self-employed plan during 2013. 2009 tax forms 1040 Do not enter more than $17,500 N/A   Step 10           Subtract step 9 from step 8     Step 11           Subtract step 9 from step 3       Step 12           Enter one-half of step 11     Step 13           Enter the smallest of step 7, 10, or 12     Step 14           Subtract step 13 from step 3     Step 15           Enter the smaller of step 9 or step 14       • If you made catch-up contributions, go to step 16. 2009 tax forms 1040         • Otherwise, skip steps 16 through 18 and go to step 19. 2009 tax forms 1040       Step 16           Subtract step 15 from step 14     Step 17           Enter your catch-up contributions (including designated Roth contributions), if any. 2009 tax forms 1040 Do not enter more than $5,500     Step 18           Enter the smaller of step 16 or step 17     Step 19           Add steps 13, 15, and 18. 2009 tax forms 1040     Step 20           Enter the amount of designated Roth contributions included on lines 9 and 17     Step 21           Subtract step 20 from step 19. 2009 tax forms 1040 This is your maximum deductible contribution $14,841                 Next: Enter your actual contribution, not to exceed your maximum deductible contribution, on Form 1040, line 28. 2009 tax forms 1040   See the filled-in Deduction Worksheet for Self-Employed on this page. 2009 tax forms 1040 Rate Worksheet for Self-Employed 1) Plan contribution rate as a decimal (for example, 10½% = 0. 2009 tax forms 1040 105) 0. 2009 tax forms 1040 085 2) Rate in line 1 plus 1 (for example, 0. 2009 tax forms 1040 105 + 1 = 1. 2009 tax forms 1040 105) 1. 2009 tax forms 1040 085 3) Self-employed rate as a decimal rounded to at least 3 decimal places (line 1 ÷ line 2) (for example, 0. 2009 tax forms 1040 105 ÷ 1. 2009 tax forms 1040 105 = 0. 2009 tax forms 1040 095) 0. 2009 tax forms 1040 078 This image is too large to be displayed in the current screen. 2009 tax forms 1040 Please click the link to view the image. 2009 tax forms 1040 Portion of Form 1040 and Portion of Schedule SE Prev  Up  Next   Home   More Online Publications
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Form 1099-K, Payment Card and Third Party Network Transactions

A payment settlement entity (PSE) must file Form 1099-K for payments made in settlement of reportable payment transactions for each calendar year. A PSE makes a payment in settlement of a reportable payment transaction, that is, any payment card or third party network transaction, if the PSE submits the instruction to transfer funds to the account of the participating payee to settle the reportable payment transaction.


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The 2009 Tax Forms 1040

2009 tax forms 1040 Index A Adjusted basis Worksheet 1 to figure, Worksheet A Instructions. 2009 tax forms 1040 Assistance (see Tax help) F Free tax services, How To Get Tax Help H Help (see Tax help) M More information (see Tax help) P Publications (see Tax help) T Tax help, How To Get Tax Help Taxpayer Advocate, Taxpayer Advocate Service. 2009 tax forms 1040 TTY/TDD information, How To Get Tax Help W Worksheets Adjusted basis (Worksheet 1), Worksheet A Instructions. 2009 tax forms 1040 Prev  Up     Home   More Online Publications