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How Can I File My 2010 Taxes

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How Can I File My 2010 Taxes

How can i file my 2010 taxes 3. How can i file my 2010 taxes   Claiming the Special Depreciation Allowance Table of Contents Introduction What Is Qualified Property?Qualified Reuse and Recycling Property Qualified Cellulosic Biofuel Plant Property Qualified Disaster Assistance Property Certain Qualified Property Acquired After December 31, 2007 Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance How Much Can You Deduct? How Can You Elect Not To Claim an Allowance? When Must You Recapture an Allowance? Introduction You can take a special depreciation allowance to recover part of the cost of qualified property (defined next), placed in service during the tax year. How can i file my 2010 taxes The allowance applies only for the first year you place the property in service. How can i file my 2010 taxes For qualified property placed in service in 2013, you can take an additional 50% special allowance. How can i file my 2010 taxes The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service. How can i file my 2010 taxes This chapter explains what is qualified property. How can i file my 2010 taxes It also includes rules regarding how to figure an allowance, how to elect not to claim an allowance, and when you must recapture an allowance. How can i file my 2010 taxes Corporations can elect to accelerate certain minimum tax credits in lieu of claiming the special depreciation allowance for eligible qualified property. How can i file my 2010 taxes See Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance , later. How can i file my 2010 taxes See chapter 6 for information about getting publications and forms. How can i file my 2010 taxes What Is Qualified Property? Your property is qualified property if it is one of the following. How can i file my 2010 taxes Qualified reuse and recycling property. How can i file my 2010 taxes Qualified cellulosic biofuel plant property. How can i file my 2010 taxes Qualified disaster assistance property. How can i file my 2010 taxes Certain qualified property acquired after December 31, 2007. How can i file my 2010 taxes The following discussions provide information about the types of qualified property listed above for which you can take the special depreciation allowance. How can i file my 2010 taxes Qualified Reuse and Recycling Property You can take a 50% special depreciation allowance for qualified reuse and recycling property. How can i file my 2010 taxes Qualified reuse and recycling property is any machinery or equipment (not including buildings or real estate), along with any appurtenance, that is used exclusively to collect, distribute, or recycle qualified reuse and recyclable materials (as defined in section 168(m)(3)(B) of the Internal Revenue Code). How can i file my 2010 taxes Qualified reuse and recycling property also includes software necessary to operate such equipment. How can i file my 2010 taxes The property must meet the following requirements. How can i file my 2010 taxes The property must be depreciated under MACRS. How can i file my 2010 taxes The property must have a useful life of at least 5 years. How can i file my 2010 taxes The original use of the property must begin with you after August 31, 2008. How can i file my 2010 taxes You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after August 31, 2008, with no binding written contract for the acquisition in effect before September 1, 2008. How can i file my 2010 taxes The property must be placed in service for use in your trade or business after August 31, 2008. How can i file my 2010 taxes Excepted Property Qualified reuse and recycling property does not include any of the following. How can i file my 2010 taxes Any rolling stock or other equipment used to transport reuse or recyclable materials. How can i file my 2010 taxes Property required to be depreciated using the Alternative Depreciation System (ADS). How can i file my 2010 taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How can i file my 2010 taxes Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. How can i file my 2010 taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How can i file my 2010 taxes Property placed in service and disposed of in the same tax year. How can i file my 2010 taxes Property converted from business use to personal use in the same tax year acquired. How can i file my 2010 taxes Property converted from personal use to business use in the same or later tax year may be qualified reuse and recycling property. How can i file my 2010 taxes Qualified Cellulosic Biofuel Plant Property You can take a 50% special depreciation allowance for qualified cellulosic biofuel plant property. How can i file my 2010 taxes Cellulosic biofuel is any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis. How can i file my 2010 taxes Examples include bagasse (from sugar cane), corn stalks, and switchgrass. How can i file my 2010 taxes The property must meet the following requirements. How can i file my 2010 taxes The property is used in the United States solely to produce cellulosic biofuel. How can i file my 2010 taxes The original use of the property must begin with you after December 20, 2006. How can i file my 2010 taxes You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after December 20, 2006, with no binding written contract for acquisition in effect before December 21, 2006. How can i file my 2010 taxes The property must be placed in service for use in your trade or business or for the production of income after October 3, 2008, and before January 3, 2013. How can i file my 2010 taxes Note. How can i file my 2010 taxes For property placed in service after January 2, 2013, and before January 1, 2014, you can take a 50% special depreciation allowance for qualified second generation biofuel plant property that is used solely in the United States to produce second generation biofuel (as defined in section 40(b)(6)(E)). How can i file my 2010 taxes The other requirements for qualified second generation biofuel plant property to be eligible for the special depreciation allowance are identical to the requirements discussed for Qualified Cellulosic Biofuel Plant Property above. How can i file my 2010 taxes Special Rules Sale-leaseback. How can i file my 2010 taxes   If you sold qualified cellulosic biofuel plant property you placed in service after October 3, 2008, and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. How can i file my 2010 taxes   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before December 21, 2006. How can i file my 2010 taxes Syndicated leasing transactions. How can i file my 2010 taxes   If qualified cellulosic biofuel plant property is originally placed in service by a lessor after October 3, 2008, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. How can i file my 2010 taxes   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. How can i file my 2010 taxes Excepted Property Qualified cellulosic biofuel plant property does not include any of the following. How can i file my 2010 taxes Property placed in service and disposed of in the same tax year. How can i file my 2010 taxes Property converted from business use to personal use in the same tax year it is acquired. How can i file my 2010 taxes Property converted from personal use to business use in the same or later tax year may be qualified cellulosic biomass ethanol plant property. How can i file my 2010 taxes Property required to be depreciated using the Alternative Depreciation System (ADS). How can i file my 2010 taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How can i file my 2010 taxes Property any portion of which is financed with the proceeds of any obligation the interest on which is exempt from tax under section 103 of the Internal Revenue Code. How can i file my 2010 taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How can i file my 2010 taxes Property for which a deduction was taken under section 179C for certain qualified refinery property. How can i file my 2010 taxes Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. How can i file my 2010 taxes Qualified Disaster Assistance Property You can take a 50% special depreciation allowance for qualified disaster assistance property placed in service in federally declared disaster areas in which the disaster occurred in 2009. How can i file my 2010 taxes A list of the federally declared disaster areas is available at the FEMA website at www. How can i file my 2010 taxes fema. How can i file my 2010 taxes gov. How can i file my 2010 taxes Your property is qualified disaster assistance property if it meets the following requirements. How can i file my 2010 taxes The property is nonresidential real property or residential real property placed in service before January 1, 2014, in a federally declared disaster area in which the disaster occurred in 2009. How can i file my 2010 taxes You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) on or after the applicable disaster date, with no binding written contract for the acquisition in effect before the applicable disaster date. How can i file my 2010 taxes The property must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the applicable federally declared disaster. How can i file my 2010 taxes The property must be similar in nature to, and located in the same county as, the rehabilitated or replaced property. How can i file my 2010 taxes The original use of the property within the applicable disaster area must have begun with you on or after the applicable disaster date. How can i file my 2010 taxes The property is placed in service by you on or before the date which is the last day of the fourth calendar year. How can i file my 2010 taxes Substantially all (80% or more) of the use of the property must be in the active conduct of your trade or business in a federally declared disaster area, occurring in 2009. How can i file my 2010 taxes It is not excepted property (explained later in Excepted Property ). How can i file my 2010 taxes Special Rules Sale-leaseback. How can i file my 2010 taxes   If you sold qualified disaster assistance property you placed in service after the applicable disaster date and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. How can i file my 2010 taxes   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before the applicable disaster date. How can i file my 2010 taxes Syndicated leasing transactions. How can i file my 2010 taxes   If qualified disaster assistance property is originally placed in service by a lessor after the applicable disaster date, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. How can i file my 2010 taxes   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. How can i file my 2010 taxes Excepted Property Qualified disaster assistance property does not include any of the following. How can i file my 2010 taxes Property required to be depreciated using the Alternative Depreciation System (ADS). How can i file my 2010 taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How can i file my 2010 taxes Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103 of the Internal Revenue Code. How can i file my 2010 taxes Any qualified revitalization building (defined later) placed in service before January 1, 2010, for which you have elected to claim a commercial revitalization deduction for qualified revitalization expenditures. How can i file my 2010 taxes Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. How can i file my 2010 taxes Any property for which the special allowance under section 168(k) or section 1400N(d) of the Internal Revenue Code applies. How can i file my 2010 taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How can i file my 2010 taxes Property placed in service and disposed of in the same tax year. How can i file my 2010 taxes Property converted from business use to personal use in the same tax year acquired. How can i file my 2010 taxes Property converted from personal use to business use in the same or later tax year may be qualified disaster assistance property. How can i file my 2010 taxes Any gambling or animal racing property (defined later). How can i file my 2010 taxes Qualified revitalization building. How can i file my 2010 taxes   This is a commercial building and its structural components that you placed in service in a renewal community before January 1, 2010. How can i file my 2010 taxes If the building is new, the original use of the building must begin with you. How can i file my 2010 taxes If the building is not new, you must substantially rehabilitate the building and then place it in service. How can i file my 2010 taxes For more information, including definitions of substantially rehabilitated building and qualified revitalization expenditure, see section 1400I(b) of the Internal Revenue Code. How can i file my 2010 taxes Gambling or animal racing property. How can i file my 2010 taxes   Gambling or animal racing property includes the following personal and real property. How can i file my 2010 taxes Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing. How can i file my 2010 taxes Any real property determined by square footage (other than any portion that is less than 100 square feet) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing. How can i file my 2010 taxes Certain Qualified Property Acquired After December 31, 2007 You can take a 50% special depreciation deduction allowance for certain qualified property acquired after December 31, 2007. How can i file my 2010 taxes Your property is qualified property if it meets the following requirements. How can i file my 2010 taxes It is one of the following types of property. How can i file my 2010 taxes Tangible property depreciated under MACRS with a recovery period of 20 years or less. How can i file my 2010 taxes Water utility property. How can i file my 2010 taxes Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. How can i file my 2010 taxes (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. How can i file my 2010 taxes ) Qualified leasehold improvement property (defined under Qualified leasehold improvement property later). How can i file my 2010 taxes You must have acquired the property after December 31, 2007, with no binding written contract for the acquisition in effect before January 1, 2008. How can i file my 2010 taxes The property must be placed in service for use in your trade or business or for the production of income before January 1, 2014 (before January 1, 2015, for certain property with a long production period and certain aircraft (defined next)). How can i file my 2010 taxes The original use of the property must begin with you after December 31, 2007. How can i file my 2010 taxes It is not excepted property (explained later in Excepted property). How can i file my 2010 taxes Qualified leasehold improvement property. How can i file my 2010 taxes    Generally, this is any improvement to an interior part of a building that is nonresidential real property, if all the following requirements are met. How can i file my 2010 taxes The improvement is made under or according to a lease by the lessee (or any sublessee) or the lessor of that part of the building. How can i file my 2010 taxes That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. How can i file my 2010 taxes The improvement is placed in service more than 3 years after the date the building was first placed in service by any person. How can i file my 2010 taxes The improvement is section 1250 property. How can i file my 2010 taxes See chapter 3 in Publication 544, Sales and Other Dispositions of Assets, for the definition of section 1250 property. How can i file my 2010 taxes   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. How can i file my 2010 taxes The enlargement of the building. How can i file my 2010 taxes Any elevator or escalator. How can i file my 2010 taxes Any structural component benefiting a common area. How can i file my 2010 taxes The internal structural framework of the building. How can i file my 2010 taxes   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. How can i file my 2010 taxes However, a lease between related persons is not treated as a lease. How can i file my 2010 taxes Related persons. How can i file my 2010 taxes   For this purpose, the following are related persons. How can i file my 2010 taxes Members of an affiliated group. How can i file my 2010 taxes An individual and a member of his or her family, including only a spouse, child, parent, brother, sister, half-brother, half-sister, ancestor, and lineal descendant. How can i file my 2010 taxes A corporation and an individual who directly or indirectly owns 80% or more of the value of the outstanding stock of that corporation. How can i file my 2010 taxes Two corporations that are members of the same controlled group. How can i file my 2010 taxes A trust fiduciary and a corporation if 80% or more of the value of the outstanding stock is directly or indirectly owned by or for the trust or grantor of the trust. How can i file my 2010 taxes The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. How can i file my 2010 taxes The fiduciaries of two different trusts, and the fiduciaries and beneficiaries of two different trusts, if the same person is the grantor of both trusts. How can i file my 2010 taxes A tax-exempt educational or charitable organization and any person (or, if that person is an individual, a member of that person's family) who directly or indirectly controls the organization. How can i file my 2010 taxes Two S corporations, and an S corporation and a regular corporation, if the same persons own 80% or more of the value of the outstanding stock of each corporation. How can i file my 2010 taxes A corporation and a partnership if the same persons own both of the following. How can i file my 2010 taxes 80% or more of the value of the outstanding stock of the corporation. How can i file my 2010 taxes 80% or more of the capital or profits interest in the partnership. How can i file my 2010 taxes The executor and beneficiary of any estate. How can i file my 2010 taxes Long Production Period Property To be qualified property, long production period property must meet the following requirements. How can i file my 2010 taxes It must meet the requirements in (2)-(5), above. How can i file my 2010 taxes The property has a recovery period of at least 10 years or is transportation property. How can i file my 2010 taxes Transportation property is tangible personal property used in the trade or business of transporting persons or property. How can i file my 2010 taxes The property is subject to section 263A of the Internal Revenue Code. How can i file my 2010 taxes The property has an estimated production period exceeding 1 year and an estimated production cost exceeding $1,000,000. How can i file my 2010 taxes Noncommercial Aircraft To be qualified property, noncommercial aircraft must meet the following requirements. How can i file my 2010 taxes It must meet the requirements in (2)-(5), above. How can i file my 2010 taxes The aircraft must not be tangible personal property used in the trade or business of transporting persons or property (except for agricultural or firefighting purposes). How can i file my 2010 taxes The aircraft must be purchased (as discussed under Property Acquired by Purchase in chapter 2 ) by a purchaser who at the time of the contract for purchase, makes a nonrefundable deposit of the lesser of 10% of the cost or $100,000. How can i file my 2010 taxes The aircraft must have an estimated production period exceeding four months and a cost exceeding $200,000. How can i file my 2010 taxes Special Rules Sale-leaseback. How can i file my 2010 taxes   If you sold qualified property you placed in service after December 31, 2007, and leased it back within 3 months after you originally placed in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. How can i file my 2010 taxes   The property will not qualify for the special depreciation allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before January 1, 2008. How can i file my 2010 taxes Syndicated leasing transactions. How can i file my 2010 taxes   If qualified property is originally placed in service by a lessor after December 31, 2007, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. How can i file my 2010 taxes   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of the last sale if the property is sold within 3 months after the final unit is placed in service and the period between the time the first and last units are placed in service does not exceed 12 months. How can i file my 2010 taxes Excepted Property Qualified property does not include any of the following. How can i file my 2010 taxes Property placed in service and disposed of in the same tax year. How can i file my 2010 taxes Property converted from business use to personal use in the same tax year acquired. How can i file my 2010 taxes Property converted from personal use to business use in the same or later tax year may be qualified property. How can i file my 2010 taxes Property required to be depreciated under the Alternative Depreciation System (ADS). How can i file my 2010 taxes This includes listed property used 50% or less in a qualified business use. How can i file my 2010 taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How can i file my 2010 taxes Qualified restaurant property (as defined in section 168(e)(7) of the Internal Revenue Code). How can i file my 2010 taxes Qualified retail improvement property (as defined in section 168(e)(8) of the Internal Revenue Code). How can i file my 2010 taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How can i file my 2010 taxes Property for which you elected to accelerate certain credits in lieu of the special depreciation allowance (discussed next). How can i file my 2010 taxes Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 2 extension property (as defined in section 168(k)(4)(I)(iv)), unless the corporation made an election not to apply the section 168(k)(4) election to round 2 extension property for its first tax year ending after December 31, 2010. How can i file my 2010 taxes For 2013, round 2 extension property generally is long production period and noncommercial aircraft if acquired after March 31, 2008, and placed in service after December 31, 2012, but before January 1, 2014. How can i file my 2010 taxes An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 3 extension property (as defined in section 168(k)(4)(J)(iv)), unless the corporation makes an election not to apply the section 168(k)(4) election to round 3 extension property. How can i file my 2010 taxes If a corporation did not make a section 168(k)(4) election for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, the corporation may elect for its first tax year ending after December 31, 2012, to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for only round 3 extension property. How can i file my 2010 taxes If you make an election to accelerate these credits in lieu of claiming the special depreciation allowance for eligible property, you must not take the 50% special depreciation allowance for the property and must depreciate the basis in the property under MACRS using the straight line method. How can i file my 2010 taxes See Which Depreciation Method Applies in chapter 4 . How can i file my 2010 taxes Once made, the election cannot be revoked without IRS consent. How can i file my 2010 taxes Additional guidance. How can i file my 2010 taxes   For additional guidance on the election to accelerate the research or minimum tax credit in lieu of claiming the special depreciation allowance, see Rev. How can i file my 2010 taxes Proc. How can i file my 2010 taxes 2008-65 on page 1082 of Internal Revenue Bulletin 2008-44, available at www. How can i file my 2010 taxes irs. How can i file my 2010 taxes gov/pub/irs-irbs/irb08-44. How can i file my 2010 taxes pdf, Rev. How can i file my 2010 taxes Proc. How can i file my 2010 taxes 2009-16 on page 449 of Internal Revenue Bulletin 2009-06, available at www. How can i file my 2010 taxes irs. How can i file my 2010 taxes gov/pub/irs-irbs/irb09-06. How can i file my 2010 taxes pdf, and Rev. How can i file my 2010 taxes Proc. How can i file my 2010 taxes 2009-33 on page 150 of Internal Revenue Bulletin 2009-29, available at www. How can i file my 2010 taxes irs. How can i file my 2010 taxes gov/pub/irs-irbs/irb09-29. How can i file my 2010 taxes pdf. How can i file my 2010 taxes Also, see Form 3800, General Business Credit; Form 8827, Credit for Prior Year Minimum Tax — Corporations; and related instructions. How can i file my 2010 taxes   Additional guidance regarding the election to accelerate the minimum tax credit in lieu of claiming the special depreciation allowance for round 2 extension property and round 3 extension property may also be available in later Internal Revenue Bulletins available at www. How can i file my 2010 taxes irs. How can i file my 2010 taxes gov/irb. How can i file my 2010 taxes How Much Can You Deduct? Figure the special depreciation allowance by multiplying the depreciable basis of qualified reuse and recycling property, qualified cellulosic biofuel plant property, qualified disaster assistance property, and certain qualified property acquired after December 31, 2007, by 50%. How can i file my 2010 taxes For qualified property other than listed property, enter the special allowance on line 14 in Part II of Form 4562. How can i file my 2010 taxes For qualified property that is listed property, enter the special allowance on line 25 in Part V of Form 4562. How can i file my 2010 taxes If you place qualified property in service in a short tax year, you can take the full amount of a special depreciation allowance. How can i file my 2010 taxes Depreciable basis. How can i file my 2010 taxes   This is the property's cost or other basis multiplied by the percentage of business/investment use, reduced by the total amount of any credits and deductions allocable to the property. How can i file my 2010 taxes   The following are examples of some credits and deductions that reduce depreciable basis. How can i file my 2010 taxes Any section 179 deduction. How can i file my 2010 taxes Any deduction for removal of barriers to the disabled and the elderly. How can i file my 2010 taxes Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. How can i file my 2010 taxes Basis adjustment to investment credit property under section 50(c) of the Internal Revenue Code. How can i file my 2010 taxes   For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. How can i file my 2010 taxes   For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property in chapter 1 . How can i file my 2010 taxes For a discussion of business/investment use, see Partial business or investment use under Property Used in Your Business or Income-Producing Activity in chapter 1 . How can i file my 2010 taxes Depreciating the remaining cost. How can i file my 2010 taxes   After you figure your special depreciation allowance for your qualified property, you can use the remaining cost to figure your regular MACRS depreciation deduction (discussed in chapter 4 . How can i file my 2010 taxes Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction. How can i file my 2010 taxes Example. How can i file my 2010 taxes On November 1, 2013, Tom Brown bought and placed in service in his business qualified property that cost $450,000. How can i file my 2010 taxes He did not elect to claim a section 179 deduction. How can i file my 2010 taxes He deducts 50% of the cost ($225,000) as a special depreciation allowance for 2013. How can i file my 2010 taxes He uses the remaining $225,000 of cost to figure his regular MACRS depreciation deduction for 2013 and later years. How can i file my 2010 taxes Like-kind exchanges and involuntary conversions. How can i file my 2010 taxes   If you acquire qualified property in a like-kind exchange or involuntary conversion, the carryover basis of the acquired property is eligible for a special depreciation allowance. How can i file my 2010 taxes After you figure your special allowance, you can use the remaining carryover basis to figure your regular MACRS depreciation deduction. How can i file my 2010 taxes In the year you claim the allowance (the year you place in service the property received in the exchange or dispose of involuntarily converted property), you must reduce the carryover basis of the property by the allowance before figuring your regular MACRS depreciation deduction. How can i file my 2010 taxes See Figuring the Deduction for Property Acquired in a Nontaxable Exchange , in chapter 4 under How Is the Depreciation Deduction Figured . How can i file my 2010 taxes The excess basis (the part of the acquired property's basis that exceeds its carryover basis) is also eligible for a special depreciation allowance. How can i file my 2010 taxes How Can You Elect Not To Claim an Allowance? You can elect, for any class of property, not to deduct any special allowances for all property in such class placed in service during the tax year. How can i file my 2010 taxes To make an election, attach a statement to your return indicating what election you are making and the class of property for which you are making the election. How can i file my 2010 taxes When to make election. How can i file my 2010 taxes   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. How can i file my 2010 taxes   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). How can i file my 2010 taxes Attach the election statement to the amended return. How can i file my 2010 taxes On the amended return, write “Filed pursuant to section 301. How can i file my 2010 taxes 9100-2. How can i file my 2010 taxes ” Revoking an election. How can i file my 2010 taxes   Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. How can i file my 2010 taxes A request to revoke the election is a request for a letter ruling. How can i file my 2010 taxes If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. How can i file my 2010 taxes When Must You Recapture an Allowance? When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. How can i file my 2010 taxes See When Do You Recapture MACRS Depreciation in chapter 4 or more information. How can i file my 2010 taxes Recapture of allowance deducted for qualified GO Zone property. How can i file my 2010 taxes   If, in any year after the year you claim the special depreciation allowance for qualified GO Zone property (including specified GO Zone extension property), the property ceases to be used in the GO Zone, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How can i file my 2010 taxes For additional guidance, see Notice 2008-25 on page 484 of Internal Revenue Bulletin 2008-9. How can i file my 2010 taxes Qualified cellulosic biomass ethanol plant property and qualified cellulosic biofuel plant property. How can i file my 2010 taxes   If, in any year after the year you claim the special depreciation allowance for any qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, the property ceases to be qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How can i file my 2010 taxes Recapture of allowance for qualified Recovery Assistance property. How can i file my 2010 taxes   If, in any year after the year you claim the special depreciation allowance for qualified Recovery Assistance property, the property ceases to be used in the Kansas disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How can i file my 2010 taxes For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. How can i file my 2010 taxes Recapture of allowance for qualified disaster assistance property. How can i file my 2010 taxes   If, in any year after the year you claim the special depreciation allowance for qualified disaster assistance property, the property ceases to be used in the applicable disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How can i file my 2010 taxes   For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. How can i file my 2010 taxes Prev  Up  Next   Home   More Online Publications
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Contact My Local Office in Nebraska

Face-to-face Tax Help

IRS Taxpayer Assistance Centers (TACs) are your source for personal tax help when you believe your tax issue can only be handled face-to-face. No appointment is necessary.

Keep in mind, many questions can be resolved online without waiting in line. Through IRS.gov you can:
• Set up a payment plan.
• Get a transcript of your tax return.
• Make a payment.
• Check on your refund.
• Find answers to many of your tax questions.

We are now referring all requests for tax return preparation services to other available resources. You can take advantage of free tax preparation through Free File, Free File Fillable Forms or through a volunteer site in your community. To find the nearest volunteer site location or to get more information about Free File, go to the top of the page and enter “Free Tax Help” in the Search box.

If you have a tax account issues and feel that it requires talking with someone face-to-face, visit your local TAC.

Caution:  Many of our offices are located in Federal Office Buildings. These buildings may not allow visitors to bring in cell phones with camera capabilities.

Multilingual assistance is available in every office. Hours of operation are subject to change.

Before visiting your local office click on "Services Provided" in the chart below to see what services are available. Services are limited and not all services are available at every TAC office and may vary from site to site. You can get these services on a walk-in basis.

City  Street Address  Days/Hours of Service  Telephone* 
Lincoln  100 Centennial Mall N.
Lincoln, NE 68508 

Monday-Friday - 8:30 a.m. - 4:30 p.m.
(Closed for lunch 12:30 p.m.-1:30 p.m.)

 

Services Provided

(402) 473-4680 
Norfolk  208 N. Fifth St.
Norfolk, NE 68701 

Monday-Friday - 8:30 a.m. - 4:30 p.m.
(Closed for lunch 1:00 p.m.-2:00 p.m.)

 

Services Provided

(402) 371-1503 
North Platte  300 E. Third St.
North Platte, NE 69101 

Monday-Friday - 8:30 a.m. - 4:30 p.m.
(Closed for lunch 12:00 noon - 1:00 p.m.)

 

**This office will be closed 4/28 - 4/30**

 

Services Provided

(308) 532-8810 
Omaha  1616 Capitol Ave.
Omaha, NE 68102 

Monday-Friday - 8:30 a.m. - 4:30 p.m.

 

Services Provided

(402) 233-7232
Scottsbluff  2001 Broadway 
Scottsbluff, NE 69361 

Monday-Friday - 8:30 a.m. - 4:30 p.m.
(Closed for lunch 12:30 p.m. - 1:30 p.m.)

 

Services Provided

(308) 635-3435 

* Note: The phone numbers in the chart above are not toll-free for all locations. When you call, you will reach a recorded business message with information about office hours, locations and services provided in that office. If face-to-face assistance is not a priority for you, you may also get help with IRS letters or resolve tax account issues by phone, toll free at 1-800-829-1040 (individuals) or 1-800-829-4933 (businesses).

For information on where to file your tax return please see Where to File Addresses.

The Taxpayer Advocate Service: Call (402) 233-7272 in Omaha or 1-877-777-4778 elsewhere, or see  Publication 1546, The Taxpayer Advocate Service of the IRS.

For further information, see  Tax Topic 104

Partnerships

IRS and organizations all over the country are partnering to assist taxpayers. Through these partnerships, organizations are also achieving their own goals. These mutually beneficial partnerships are strengthening outreach efforts and bringing education and assistance to millions.

For more information about these programs for individuals and families, contact the Stakeholder Partnerships, Education and Communication Office at:

Internal Revenue Service
1616 Capitol Avenue
Omaha, NE 68102

For more information about these programs for businesses, your local Stakeholder Liaison office establishes relationships with organizations representing small business and self-employed taxpayers. They provide information about the policies, practices and procedures the IRS uses to ensure compliance with the tax laws. To establish a relationship with us, use this list to find a contact in your state:

Stakeholder Liaison (SL) Phone Numbers for Organizations Representing Small Businesses and Self-employed Taxpayers.

Page Last Reviewed or Updated: 28-Mar-2014

The How Can I File My 2010 Taxes

How can i file my 2010 taxes Publication 929 - Main Content Table of Contents Part 1. How can i file my 2010 taxes Rules for All Dependents Filing RequirementsEarned Income Only Unearned Income Only Both Earned and Unearned Income Other Filing Requirements Should a Return Be Filed Even If Not Required? Responsibility for Child's ReturnThird party designee. How can i file my 2010 taxes Designated as representative. How can i file my 2010 taxes IRS notice. How can i file my 2010 taxes Standard DeductionStandard Deduction of Zero Dependent's Own Exemption Withholding From WagesExceptions. How can i file my 2010 taxes Part 2. How can i file my 2010 taxes Tax on Unearned Income of Certain ChildrenWhich Parent's Return To Use Parent's Election To Report Child's Interest and DividendsEffect of Making the Election Figuring Child's Income Figuring Additional Tax Tax for Certain Children Who Have Unearned IncomeProviding Parental Information (Form 8615, Lines A–C) Step 1. How can i file my 2010 taxes Figuring the Child's Net Unearned Income (Form 8615, Part I) Step 2. How can i file my 2010 taxes Figuring a Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Step 3. How can i file my 2010 taxes Figuring the Child's Tax (Form 8615, Part III) Alternative Minimum Tax Illustrated Example Part 1. How can i file my 2010 taxes Rules for All Dependents This part of the publication discusses the filing requirements for dependents, who is responsible for a child's return, how to figure a dependent's standard deduction and exemption (if any), and whether a dependent can claim exemption from federal income tax withholding. How can i file my 2010 taxes Filing Requirements Whether a dependent has to file a return generally depends on the amount of the dependent's earned and unearned income and whether the dependent is married, is age 65 or older, or is blind. How can i file my 2010 taxes A dependent may have to file a return even if his or her income is less than the amount that would normally require a return. How can i file my 2010 taxes See Other Filing Requirements, later. How can i file my 2010 taxes The following sections apply to dependents with: Earned income only, Unearned income only, and Both earned and unearned income. How can i file my 2010 taxes  To find out whether a dependent must file, read the section that applies, or use Table 1. How can i file my 2010 taxes Earned Income Only A dependent whose gross income is only earned income must file a return if the gross income is more than the amount listed in the following table. How can i file my 2010 taxes Marital Status Amount Single   Under 65 and not blind $6,100 Either 65 or older or blind $7,600 65 or older and blind $9,100 Married*   Under 65 and not blind $6,100 Either 65 or older or blind $7,300 65 or older and blind $8,500 *If a dependent's spouse itemizes deductions on a separate return, the dependent must file a return if the dependent has $5 or more of gross income (earned and/or unearned). How can i file my 2010 taxes Example. How can i file my 2010 taxes William is 16. How can i file my 2010 taxes His mother claims an exemption for him on her income tax return. How can i file my 2010 taxes He worked part time on weekends during the school year and full time during the summer. How can i file my 2010 taxes He earned $7,000 in wages. How can i file my 2010 taxes He did not have any unearned income. How can i file my 2010 taxes He must file a tax return because he has earned income only and his gross income is more than $6,100. How can i file my 2010 taxes If he is blind, he does not have to file a return because his gross income is not more than $7,600. How can i file my 2010 taxes Unearned Income Only A dependent whose gross income is only unearned income must file a return if the gross income is more than the amount listed in the following table. How can i file my 2010 taxes Marital Status Amount Single   Under 65 and not blind $1,000 Either 65 or older or blind $2,500 65 or older and blind $4,000 Married*   Under 65 and not blind $1,000 Either 65 or older or blind $2,200 65 or older and blind $3,400 *If a dependent's spouse itemizes deductions on a separate return, the dependent must file a return if the dependent has $5 or more of gross income (earned and/or unearned). How can i file my 2010 taxes Example. How can i file my 2010 taxes Sarah is 18 and single. How can i file my 2010 taxes Her parents can claim an exemption for her on their income tax return. How can i file my 2010 taxes She received $1,970 of taxable interest and dividend income. How can i file my 2010 taxes She did not work during the year. How can i file my 2010 taxes She must file a tax return because she has unearned income only and her gross income is more than $1,000. How can i file my 2010 taxes If she is blind, she does not have to file a return because she has unearned income only and her gross income is not more than $2,500. How can i file my 2010 taxes Election to report child's unearned income on parent's return. How can i file my 2010 taxes   A parent of a child under age 19 (or under age 24 if a full-time student) may be able to elect to include the child's interest and dividend income on the parent's return. How can i file my 2010 taxes See Parent's Election To Report Child's Interest and Dividends in Part 2. How can i file my 2010 taxes If the parent makes this election, the child does not have to file a return. How can i file my 2010 taxes Both Earned and Unearned Income A dependent who has both earned and unearned income generally must file a return if the dependent's gross income is more than line 5 of the following worksheet. How can i file my 2010 taxes Filing Requirement Worksheet for Most Dependents 1. How can i file my 2010 taxes Enter dependent's earned income plus $350     2. How can i file my 2010 taxes Minimum amount   $1,000 3. How can i file my 2010 taxes Compare lines 1 and 2. How can i file my 2010 taxes Enter the larger amount     4. How can i file my 2010 taxes Maximum amount   6,100 5. How can i file my 2010 taxes Compare lines 3 and 4. How can i file my 2010 taxes Enter the smaller amount     6. How can i file my 2010 taxes Enter the dependent's gross income. How can i file my 2010 taxes If line 6 is more than line 5, the dependent must file an income tax return. How can i file my 2010 taxes If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. How can i file my 2010 taxes       Table 1. How can i file my 2010 taxes 2013 Filing Requirements for Dependents If your parent (or someone else) can claim you as a dependent, use this table to see if you must file a return. How can i file my 2010 taxes   See the definitions of “dependent,”“earned income,”“unearned income,” and “gross income” in the Glossary. How can i file my 2010 taxes   Single dependents—Were you either age 65 or older or blind?     No. How can i file my 2010 taxes You must file a return if any of the following apply. How can i file my 2010 taxes       Your unearned income was over $1,000. How can i file my 2010 taxes Your earned income was over $6,100. How can i file my 2010 taxes Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. How can i file my 2010 taxes         Yes. How can i file my 2010 taxes You must file a return if any of the following apply. How can i file my 2010 taxes     Your unearned income was over $2,500 ($4,000 if 65 or older and blind), Your earned income was over $7,600 ($9,100 if 65 or older and blind), Your gross income was more than the larger of—       $2,500 ($4,000 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,850 ($3,350 if 65 or older and blind). How can i file my 2010 taxes       Married dependents—Were you either age 65 or older or blind?     No. How can i file my 2010 taxes You must file a return if any of the following apply. How can i file my 2010 taxes       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. How can i file my 2010 taxes Your unearned income was over $1,000. How can i file my 2010 taxes Your earned income was over $6,100. How can i file my 2010 taxes Your gross income was more than the larger of—       $1,000, or Your earned income (up to $5,750) plus $350. How can i file my 2010 taxes       Yes. How can i file my 2010 taxes You must file a return if any of the following apply. How can i file my 2010 taxes       Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. How can i file my 2010 taxes Your unearned income was over $2,200 ($3,400 if 65 or older and blind), Your earned income was over $7,300 ($8,500 if 65 or older and blind), Your gross income was more than the larger of—       $2,200 ($3,400 if 65 or older and blind), or Your earned income (up to $5,750) plus $1,550 ($2,750 if 65 or older and blind). How can i file my 2010 taxes       Example 1. How can i file my 2010 taxes Joe is 20, single, not blind, and a full-time college student. How can i file my 2010 taxes He does not provide more than half of his own support, and his parents claim an exemption for him on their income tax return. How can i file my 2010 taxes He received $200 taxable interest income and earned $2,750 from a part-time job. How can i file my 2010 taxes He does not have to file a tax return because his gross income of $2,950 ($200 interest plus $2,750 in wages) is not more than $3,100, the amount on line 5 of his filled-in Filing Requirement Worksheet for Most Dependents (shown next). How can i file my 2010 taxes Filled-in Example 1 Filing Requirement Worksheet  for Most Dependents 1. How can i file my 2010 taxes Enter dependent's earned income plus $350   $ 3,100 2. How can i file my 2010 taxes Minimum amount   1,000 3. How can i file my 2010 taxes Compare lines 1 and 2. How can i file my 2010 taxes Enter the larger amount   3,100 4. How can i file my 2010 taxes Maximum amount   6,100 5. How can i file my 2010 taxes Compare lines 3 and 4. How can i file my 2010 taxes Enter the smaller amount   3,100 6. How can i file my 2010 taxes Enter the dependent's gross income. How can i file my 2010 taxes If line 6 is more than line 5, the dependent must file an income tax return. How can i file my 2010 taxes If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. How can i file my 2010 taxes   $ 2,950   Example 2. How can i file my 2010 taxes The facts are the same as in Example 1 except that Joe had $600 taxable interest income. How can i file my 2010 taxes He must file a tax return because his gross income of $3,350 ($600 interest plus $2,750 wages) is more than $3,100, the amount on line 5 of his filled-in worksheet (shown next). How can i file my 2010 taxes Filled-in Example 2 Filing Requirement Worksheet for Most Dependents 1. How can i file my 2010 taxes Enter dependent's earned income plus $350   $ 3,100 2. How can i file my 2010 taxes Minimum amount   1,000 3. How can i file my 2010 taxes Compare lines 1 and 2. How can i file my 2010 taxes Enter the larger amount   3,100 4. How can i file my 2010 taxes Maximum amount   6,100 5. How can i file my 2010 taxes Compare lines 3 and 4. How can i file my 2010 taxes Enter the smaller amount   3,100 6. How can i file my 2010 taxes Enter the dependent's gross income. How can i file my 2010 taxes If line 6 is more than line 5, the dependent must file an income tax return. How can i file my 2010 taxes If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 6 is $5 or more. How can i file my 2010 taxes   $ 3,350   Age 65 or older or blind. How can i file my 2010 taxes A dependent who is age 65 or older or blind must file a return if his or her gross income is more than line 7 of the following worksheet. How can i file my 2010 taxes Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. How can i file my 2010 taxes Enter dependent's earned income plus $350     2. How can i file my 2010 taxes Minimum amount   $1,000 3. How can i file my 2010 taxes Compare lines 1 and 2. How can i file my 2010 taxes Enter the larger amount     4. How can i file my 2010 taxes Maximum amount   6,100 5. How can i file my 2010 taxes Compare lines 3 and 4. How can i file my 2010 taxes Enter the smaller amount     6. How can i file my 2010 taxes Enter the amount from the following table that applies to the dependent       Marital Status Amount     Single         Either 65 or older or blind $1,500       65 or older and blind $3,000     Married         Either 65 or older or blind $1,200       65 or older and blind $2,400   7. How can i file my 2010 taxes Add lines 5 and 6. How can i file my 2010 taxes Enter the total     8. How can i file my 2010 taxes Enter the dependent's gross income. How can i file my 2010 taxes If line 8 is more than line 7, the dependent must file an income tax return. How can i file my 2010 taxes If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 8 is $5 or more     Example 3. How can i file my 2010 taxes The facts are the same as in Example 2 except that Joe is also blind. How can i file my 2010 taxes He does not have to file a return because his gross income of $3,350 is not more than $4,600, the amount on line 7 of his filled-in Filing Requirement Worksheet for Dependents Who Are Age 65 or Older or Blind (shown next). How can i file my 2010 taxes   Filled-in Example 3 Filing Requirement Worksheet  for Dependents Who Are Age 65 or Older or Blind 1. How can i file my 2010 taxes Enter dependent's earned income plus $350   $3,100 2. How can i file my 2010 taxes Minimum amount   1,000 3. How can i file my 2010 taxes Compare lines 1 and 2. How can i file my 2010 taxes Enter the larger amount   3,100 4. How can i file my 2010 taxes Maximum amount   6,100 5. How can i file my 2010 taxes Compare lines 3 and 4. How can i file my 2010 taxes Enter the smaller amount   3,100 6. How can i file my 2010 taxes Enter the amount from the following table that applies to the dependent   1,500   Marital Status Amount     Single         Either 65 or older or blind $1,500       65 or older and blind $3,000     Married         Either 65 or older or blind $1,200       65 or older and blind $2,400   7. How can i file my 2010 taxes Add lines 5 and 6. How can i file my 2010 taxes Enter the total   4,600 8. How can i file my 2010 taxes Enter the dependent's gross income. How can i file my 2010 taxes If line 8 is more than line 7, the dependent must file an income tax return. How can i file my 2010 taxes If the dependent is married and his or her spouse itemizes deductions on a separate return, the dependent must file an income tax return if line 8 is $5 or more   $3,350 Other Filing Requirements Some dependents may have to file a tax return even if their income is less than the amount that would normally require them to file a return. How can i file my 2010 taxes A dependent must file a tax return if he or she owes any other taxes, such as: Social security and Medicare taxes on tips not reported to his or her employer or on wages received from an employer who did not withhold these taxes, Uncollected social security and Medicare or railroad retirement taxes on tips reported to his or her employer or on group-term life insurance, Alternative minimum tax, Additional tax on a health savings account from Form 8889, Part III, Recapture taxes, such as the tax from recapture of an education credit, or Additional tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. How can i file my 2010 taxes But if the dependent is filing a return only because of this tax, the dependent can file Form 5329 by itself. How can i file my 2010 taxes A dependent must also file a tax return if he or she: Had wages of $108. How can i file my 2010 taxes 28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes, or Had net earnings from self-employment of at least $400. How can i file my 2010 taxes Spouse itemizes. How can i file my 2010 taxes   A dependent must file a return if the dependent's spouse itemizes deductions on a separate return and the dependent has $5 or more of gross income (earned and/or unearned). How can i file my 2010 taxes Should a Return Be Filed Even If Not Required? Even if a dependent does not meet any of the filing requirements discussed earlier, he or she should file a tax return if either of the following applies. How can i file my 2010 taxes Income tax was withheld from his or her income. How can i file my 2010 taxes He or she qualifies for the earned income credit, additional child tax credit, health coverage tax credit, or refundable American opportunity education credit. How can i file my 2010 taxes See the tax return instructions to find out who qualifies for these credits. How can i file my 2010 taxes  By filing a return, the dependent can get a refund. How can i file my 2010 taxes Responsibility for Child's Return Generally, a child is responsible for filing his or her own tax return and for paying any tax, penalties, or interest on that return. How can i file my 2010 taxes If a child cannot file his or her own return for any reason, such as age, the child's parent, guardian, or other legally responsible person must file it for the child. How can i file my 2010 taxes Signing the child's return. How can i file my 2010 taxes   If the child cannot sign his or her return, a parent or guardian must sign the child's name followed by the words “By (signature), parent (or guardian) for minor child. How can i file my 2010 taxes ” Authority of parent or guardian. How can i file my 2010 taxes   A parent or guardian who signs a return on a child's behalf can deal with the IRS on all matters connected with the return. How can i file my 2010 taxes   In general, a parent or guardian who does not sign the child's return can only provide information concerning the child's return and pay the child's tax. How can i file my 2010 taxes That parent or guardian is not entitled to receive information from the IRS or legally bind the child to a tax liability arising from the return. How can i file my 2010 taxes Third party designee. How can i file my 2010 taxes   A child's parent or guardian who does not sign the child's return may be authorized, as a third party designee, to discuss the processing of the return with the IRS as well as provide information concerning the return. How can i file my 2010 taxes The child or the person signing the return on the child's behalf must check the “Yes” box in the “Third Party Designee” area of the return and name the parent or guardian as the designee. How can i file my 2010 taxes   If designated, a parent or guardian can respond to certain IRS notices and receive information about the processing of the return and the status of a refund or payment. How can i file my 2010 taxes This designation does not authorize the parent or guardian to receive any refund check, bind the child to any tax liability, or otherwise represent the child before the IRS. How can i file my 2010 taxes See the return instructions for more information. How can i file my 2010 taxes Designated as representative. How can i file my 2010 taxes   A parent or guardian who does not sign the child's return may be designated as the child's representative by the child or the person signing the return on the child's behalf. How can i file my 2010 taxes Form 2848, Power of Attorney and Declaration of Representative, is used to designate a child's representative. How can i file my 2010 taxes See Publication 947, Practice Before the IRS and Power of Attorney, for more information. How can i file my 2010 taxes   If designated, a parent or guardian can receive information about the child's return but cannot legally bind the child to a tax liability unless authorized to do so by the law of the state in which the child lives. How can i file my 2010 taxes IRS notice. How can i file my 2010 taxes   If you or the child receives a notice from the IRS concerning the child's return or tax liability, you should immediately inform the IRS that the notice concerns a child. How can i file my 2010 taxes The notice will show who to contact. How can i file my 2010 taxes The IRS will try to resolve the matter with the parent(s) or guardian(s) of the child consistent with their authority. How can i file my 2010 taxes Child's earnings. How can i file my 2010 taxes   For federal income tax purposes, amounts a child earns by performing services are included in the gross income of the child and not the gross income of the parent. How can i file my 2010 taxes This is true even if, under state law, the parent has the right to the earnings and may actually have received them. How can i file my 2010 taxes If the child does not pay the tax due on this income, the parent may be liable for the tax. How can i file my 2010 taxes Child's expenses. How can i file my 2010 taxes   Deductions for payments that are made out of a child's earnings are the child's, even if the payments are made by the parent. How can i file my 2010 taxes Example. How can i file my 2010 taxes You made payments on your child's behalf that are deductible as a business expense and a charitable contribution. How can i file my 2010 taxes You made the payments out of your child's earnings. How can i file my 2010 taxes These items can be deducted only on the child's return. How can i file my 2010 taxes Standard Deduction The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the larger of: $1,000, or The individual's earned income plus $350, but not more than the regular standard deduction (generally $6,100). How can i file my 2010 taxes However, the standard deduction may be higher for a dependent who: Is 65 or older, or Is blind. How can i file my 2010 taxes Certain dependents cannot claim any standard deduction. How can i file my 2010 taxes See Standard Deduction of Zero , later. How can i file my 2010 taxes Worksheet 1. How can i file my 2010 taxes   Use Worksheet 1 to figure the dependent's standard deduction. How can i file my 2010 taxes Worksheet 1. How can i file my 2010 taxes Standard Deduction Worksheet for Dependents Use this worksheet only if someone else can claim you (or your spouse, if filing jointly) as a dependent. How can i file my 2010 taxes If you were 65 or older and/or blind, check the correct number of boxes below. How can i file my 2010 taxes Put the total number of boxes checked in box c and go to line 1. How can i file my 2010 taxes a. How can i file my 2010 taxes You 65 or older   Blind   b. How can i file my 2010 taxes Your spouse, if claiming  spouse's exemption 65 or older   Blind   c. How can i file my 2010 taxes Total boxes checked         1. How can i file my 2010 taxes Enter your earned income (defined below) plus $350. How can i file my 2010 taxes If none, enter -0-. How can i file my 2010 taxes 1. How can i file my 2010 taxes     2. How can i file my 2010 taxes Minimum amount. How can i file my 2010 taxes   2. How can i file my 2010 taxes $1,000   3. How can i file my 2010 taxes Compare lines 1 and 2. How can i file my 2010 taxes Enter the larger of the two amounts here. How can i file my 2010 taxes 3. How can i file my 2010 taxes     4. How can i file my 2010 taxes Enter on line 4 the amount shown below for your filing status. How can i file my 2010 taxes       Single or Married filing separately—$6,100 Married filing jointly—$12,200 Head of household—$8,950 4. How can i file my 2010 taxes     5. How can i file my 2010 taxes Standard deduction. How can i file my 2010 taxes         a. How can i file my 2010 taxes Compare lines 3 and 4. How can i file my 2010 taxes Enter the smaller amount here. How can i file my 2010 taxes If under 65 and not blind, stop here. How can i file my 2010 taxes This is your standard deduction. How can i file my 2010 taxes Otherwise, go on to line 5b. How can i file my 2010 taxes 5a. How can i file my 2010 taxes     b. How can i file my 2010 taxes If 65 or older or blind, multiply $1,500 ($1,200 if married) by the number in box c above. How can i file my 2010 taxes Enter the result here. How can i file my 2010 taxes 5b. How can i file my 2010 taxes     c. How can i file my 2010 taxes Add lines 5a and 5b. How can i file my 2010 taxes This is your standard deduction for 2013. How can i file my 2010 taxes 5c. How can i file my 2010 taxes     Earned income includes wages, salaries, tips, professional fees, and other compensation received for personal services you performed. How can i file my 2010 taxes It also includes any amount received as a scholarship that you must include in income. How can i file my 2010 taxes   Example 1. How can i file my 2010 taxes Michael is single, age 15, and not blind. How can i file my 2010 taxes His parents can claim him as a dependent on their tax return. How can i file my 2010 taxes He has taxable interest income of $800 and wages of $150. How can i file my 2010 taxes He enters $500 (his earned income plus $350) on line 1 of Worksheet 1. How can i file my 2010 taxes On line 3, he enters $1,000, the larger of $500 or $1,000. How can i file my 2010 taxes Michael enters $6,100 on line 4. How can i file my 2010 taxes On line 5a, he enters $1,000, the smaller of $1,000 or $6,100. How can i file my 2010 taxes His standard deduction is $1,000. How can i file my 2010 taxes Example 2. How can i file my 2010 taxes Judy, a full-time student, is single, age 22, and not blind. How can i file my 2010 taxes Her parents can claim her as a dependent on their tax return. How can i file my 2010 taxes She has dividend income of $275 and wages of $2,500. How can i file my 2010 taxes She enters $2,850 (her earned income plus $350) on line 1 of Worksheet 1. How can i file my 2010 taxes On line 3, she enters $2,850, the larger of $2,850 or $1,000. How can i file my 2010 taxes She enters $6,100 on line 4. How can i file my 2010 taxes On line 5a, she enters $2,850 (the smaller of $2,850 or $6,100) as her standard deduction. How can i file my 2010 taxes Example 3. How can i file my 2010 taxes Amy, who is single, is claimed as a dependent on her parents' tax return. How can i file my 2010 taxes She is 18 years old and blind. How can i file my 2010 taxes She has taxable interest income of $1,000 and wages of $2,000. How can i file my 2010 taxes She enters $2,350 (her earned income plus $350) on line 1 of Worksheet 1. How can i file my 2010 taxes She enters $2,350 (the larger of $2,350 or $1,000) on line 3, $6,100 on line 4, and $2,350 (the smaller of $2,350 or $6,100) on line 5a. How can i file my 2010 taxes Because Amy is blind, she checks the box for blindness and enters “1” in box c at the top of Worksheet 1. How can i file my 2010 taxes She enters $1,500 (the number in box c times $1,500) on line 5b. How can i file my 2010 taxes Her standard deduction on line 5c is $3,850 ($2,350 + $1,500). How can i file my 2010 taxes Standard Deduction of Zero The standard deduction for the following dependents is zero. How can i file my 2010 taxes A married dependent filing a separate return whose spouse itemizes deductions. How can i file my 2010 taxes A dependent who files a return for a period of less than 12 months due to a change in his or her annual accounting period. How can i file my 2010 taxes A nonresident or dual-status alien dependent, unless the dependent is married to a U. How can i file my 2010 taxes S. How can i file my 2010 taxes citizen or resident alien at the end of the year and chooses to be treated as a U. How can i file my 2010 taxes S. How can i file my 2010 taxes resident for the year. How can i file my 2010 taxes See Publication 519, U. How can i file my 2010 taxes S. How can i file my 2010 taxes Tax Guide for Aliens, for information on making this choice. How can i file my 2010 taxes Example. How can i file my 2010 taxes Jennifer, who is a dependent of her parents, is entitled to file a joint return with her husband. How can i file my 2010 taxes However, her husband elects to file a separate return and itemize his deductions. How can i file my 2010 taxes Because he itemizes, Jennifer's standard deduction on her return is zero. How can i file my 2010 taxes She can, however, itemize any of her allowable deductions. How can i file my 2010 taxes Dependent's Own Exemption A person who can be claimed as a dependent on another taxpayer's return cannot claim his or her own exemption. How can i file my 2010 taxes This is true even if the other taxpayer does not actually claim the exemption. How can i file my 2010 taxes Example. How can i file my 2010 taxes James and Barbara can claim their child, Ben, as a dependent on their return. How can i file my 2010 taxes Ben is a college student who works during the summer and must file a tax return. How can i file my 2010 taxes Ben cannot claim his own exemption on his return. How can i file my 2010 taxes This is true even if James and Barbara do not claim him as a dependent on their return. How can i file my 2010 taxes Withholding From Wages Employers generally withhold federal income tax, social security tax, and Medicare tax from an employee's wages. How can i file my 2010 taxes If the employee claims exemption from withholding on Form W-4, the employer will not withhold federal income tax. How can i file my 2010 taxes The exemption from withholding does not apply to social security and Medicare taxes. How can i file my 2010 taxes Conditions for exemption from withholding. How can i file my 2010 taxes   An employee can claim exemption from withholding for 2014 only if he or she meets both of the following conditions. How can i file my 2010 taxes For 2013, the employee had a right to a refund of all federal income tax withheld because he or she had no tax liability. How can i file my 2010 taxes For 2014, the employee expects a refund of all federal income tax withheld because he or she expects to have no tax liability. How can i file my 2010 taxes Dependents. How can i file my 2010 taxes   An employee who is a dependent ordinarily cannot claim exemption from withholding if both of the following are true. How can i file my 2010 taxes The employee's gross income will be more than $1,000, the minimum standard deduction for 2014. How can i file my 2010 taxes The employee's unearned income will be more than $350. How can i file my 2010 taxes Exceptions. How can i file my 2010 taxes   An employee may be able to claim exemption from withholding even if the employee is a dependent, if the employee: Is age 65 or older, Is blind, or Will claim on his or her 2014 tax return: Adjustments to income, Tax credits, or Itemized deductions. How can i file my 2010 taxes The above exceptions do not apply to supplemental wages greater than $1,000,000. How can i file my 2010 taxes For more information, see Exemption From Withholding in chapter 1 of Publication 505. How can i file my 2010 taxes Example. How can i file my 2010 taxes Guy is 17 and a student. How can i file my 2010 taxes During the summer he works part time at a grocery store. How can i file my 2010 taxes He expects to earn about $1,200 this year. How can i file my 2010 taxes He also worked at the store last summer and received a refund of all his withheld income tax because he did not have a tax liability. How can i file my 2010 taxes The only other income he expects during the year is $375 interest on a savings account. How can i file my 2010 taxes He expects that his parents will be able to claim him as a dependent on their tax return. How can i file my 2010 taxes He is not blind and will not claim adjustments to income, itemized deductions, a higher standard deduction, or tax credits on his return. How can i file my 2010 taxes Guy cannot claim exemption from withholding when he fills out Form W-4 because his parents will be able to claim him as a dependent, his gross income will be more than $1,000 (the minimum standard deduction amount) and his unearned income will be more than $350. How can i file my 2010 taxes Claiming exemption from withholding. How can i file my 2010 taxes    To claim exemption from withholding, an employee must enter “Exempt” in the space provided on Form W-4, line 7. How can i file my 2010 taxes The employee must complete the rest of the form, as explained in the form instructions, and give it to his or her employer. How can i file my 2010 taxes Renewing an exemption from withholding. How can i file my 2010 taxes   An exemption from withholding is good for only one year. How can i file my 2010 taxes An employee must file a new Form W-4 by February 15 each year to continue the exemption. How can i file my 2010 taxes Part 2. How can i file my 2010 taxes Tax on Unearned Income of Certain Children The two rules that follow may affect the tax on the unearned income of certain children. How can i file my 2010 taxes If the child's interest and dividend income (including capital gain distributions) total less than $10,000, the child's parent may be able to choose to include that income on the parent's return rather than file a return for the child. How can i file my 2010 taxes (See Parent's Election To Report Child's Interest and Dividends , later. How can i file my 2010 taxes ) If the child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. How can i file my 2010 taxes (See Tax for Certain Children Who Have Unearned Income , later. How can i file my 2010 taxes ) For these rules, the term “child” includes a legally adopted child and a stepchild. How can i file my 2010 taxes These rules apply whether or not the child is a dependent. How can i file my 2010 taxes These rules do not apply if neither of the child's parents were living at the end of the year. How can i file my 2010 taxes Which Parent's Return To Use If a child's parents are married to each other and file a joint return, use the joint return to figure the tax on the child's unearned income. How can i file my 2010 taxes The tax rate and other return information from that return are used to figure the child's tax as explained later under Tax for Certain Children Who Have Unearned Income . How can i file my 2010 taxes Parents Who Do Not File a Joint Return For parents who do not file a joint return, the following discussions explain which parent's tax return must be used to figure the tax. How can i file my 2010 taxes Only the parent whose tax return is used can make the election described under Parent's Election To Report Child's Interest and Dividends . How can i file my 2010 taxes Parents are married. How can i file my 2010 taxes   If the child's parents file separate returns, use the return of the parent with the greater taxable income. How can i file my 2010 taxes Parents not living together. How can i file my 2010 taxes   If the child's parents are married to each other but not living together, and the parent with whom the child lives (the custodial parent) is considered unmarried, use the return of the custodial parent. How can i file my 2010 taxes If the custodial parent is not considered unmarried, use the return of the parent with the greater taxable income. How can i file my 2010 taxes   For an explanation of when a married person living apart from his or her spouse is considered unmarried, see Head of Household in Publication 501. How can i file my 2010 taxes Parents are divorced. How can i file my 2010 taxes   If the child's parents are divorced or legally separated, and the parent who had custody of the child for the greater part of the year (the custodial parent) has not remarried, use the return of the custodial parent. How can i file my 2010 taxes Custodial parent remarried. How can i file my 2010 taxes   If the custodial parent has remarried, the stepparent (rather than the noncustodial parent) is treated as the child's other parent. How can i file my 2010 taxes Therefore, if the custodial parent and the stepparent file a joint return, use that joint return. How can i file my 2010 taxes Do not use the return of the noncustodial parent. How can i file my 2010 taxes   If the custodial parent and the stepparent are married, but file separate returns, use the return of the one with the greater taxable income. How can i file my 2010 taxes If the custodial parent and the stepparent are married but not living together, the earlier discussion under Parents not living together applies. How can i file my 2010 taxes Parents never married. How can i file my 2010 taxes   If a child's parents have never been married to each other, but lived together all year, use the return of the parent with the greater taxable income. How can i file my 2010 taxes If the parents did not live together all year, the rules explained earlier under Parents are divorced apply. How can i file my 2010 taxes Widowed parent remarried. How can i file my 2010 taxes   If a widow or widower remarries, the new spouse is treated as the child's other parent. How can i file my 2010 taxes The rules explained earlier under Custodial parent remarried apply. How can i file my 2010 taxes Parent's Election To Report Child's Interest and Dividends You may be able to elect to include your child's interest and dividend income (including capital gain distributions) on your tax return. How can i file my 2010 taxes If you do, your child will not have to file a return. How can i file my 2010 taxes You can make this election only if all the following conditions are met. How can i file my 2010 taxes Your child was under age 19 (or under age 24 if a full-time student) at the end of the year. How can i file my 2010 taxes Your child had income only from interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends). How can i file my 2010 taxes The child's gross income was less than $10,000. How can i file my 2010 taxes The child is required to file a return unless you make this election. How can i file my 2010 taxes The child does not file a joint return for the year. How can i file my 2010 taxes No estimated tax payment was made for the year, and no overpayment from the previous year (or from any amended return) was applied to this year under your child's name and social security number. How can i file my 2010 taxes No federal income tax was withheld from your child's income under the backup withholding rules. How can i file my 2010 taxes You are the parent whose return must be used when applying the special tax rules for children. How can i file my 2010 taxes (See Which Parent's Return To Use , earlier. How can i file my 2010 taxes ) These conditions are also shown in Figure 1. How can i file my 2010 taxes Certain January 1 birthdays. How can i file my 2010 taxes   A child born on January 1, 1995, is considered to be age 19 at the end of 2013. How can i file my 2010 taxes You cannot make this election for such a child unless the child was a full-time student. How can i file my 2010 taxes   A child born on January 1, 1990, is considered to be age 24 at the end of 2013. How can i file my 2010 taxes You cannot make this election for such a child. How can i file my 2010 taxes How to make the election. How can i file my 2010 taxes    Make the election by attaching Form 8814 to your Form 1040 or Form 1040NR. How can i file my 2010 taxes (If you make this election, you cannot file Form 1040A or Form 1040EZ. How can i file my 2010 taxes ) Attach a separate Form 8814 for each child for whom you make the election. How can i file my 2010 taxes You can make the election for one or more children and not for others. How can i file my 2010 taxes Effect of Making the Election The federal income tax on your child's income may be more if you make the Form 8814 election. How can i file my 2010 taxes Rate may be higher. How can i file my 2010 taxes   If your child received qualified dividends or capital gain distributions, you may pay up to $100 more tax if you make this election instead of filing a separate tax return for the child. How can i file my 2010 taxes This is because the tax rate on the child's income between $1,000 and $2,000 is 10% if you make this election. How can i file my 2010 taxes However, if you file a separate return for the child, the tax rate may be as low as 0% (zero percent) because of the preferential tax rates for qualified dividends and capital gain distributions. How can i file my 2010 taxes Deductions you cannot take. How can i file my 2010 taxes   By making the Form 8814 election, you cannot take any of the following deductions that the child would be entitled to on his or her return. How can i file my 2010 taxes The additional standard deduction if the child is blind. How can i file my 2010 taxes The deduction for a penalty on an early withdrawal of your child's savings. How can i file my 2010 taxes Itemized deductions (such as your child's investment expenses or charitable contributions). How can i file my 2010 taxes Figure 1. How can i file my 2010 taxes Can You Include Your Child's Income On Your Tax Return? Please click here for the text description of the image. How can i file my 2010 taxes Figure 1. How can i file my 2010 taxes Can You Include Your Child's Income On Your Tax Return? Deductible investment interest. How can i file my 2010 taxes   If you use Form 8814, your child's unearned income is considered your unearned income. How can i file my 2010 taxes To figure the limit on your deductible investment interest, add the child's unearned income to yours. How can i file my 2010 taxes However, if your child received qualified dividends, capital gain distributions, or Alaska Permanent Fund dividends, see chapter 3 of Publication 550 for information about how to figure the limit. How can i file my 2010 taxes Alternative minimum tax. How can i file my 2010 taxes    If your child received tax-exempt interest (or exempt-interest dividends paid by a regulated investment company) from certain private activity bonds, you must determine if that interest is a tax preference item for alternative minimum tax (AMT) purposes. How can i file my 2010 taxes If it is, you must include it with your own tax preference items when figuring your AMT. How can i file my 2010 taxes See Form 6251, Alternative Minimum Tax—Individuals, and its instructions for details. How can i file my 2010 taxes Reduced deductions or credits. How can i file my 2010 taxes   If you use Form 8814, your increased adjusted gross income may reduce certain deductions or credits on your return, including the following. How can i file my 2010 taxes Deduction for contributions to a traditional individual retirement arrangement (IRA). How can i file my 2010 taxes Deduction for student loan interest. How can i file my 2010 taxes Itemized deductions for medical expenses, casualty and theft losses, and certain miscellaneous expenses. How can i file my 2010 taxes Credit for child and dependent care expenses. How can i file my 2010 taxes Child tax credit. How can i file my 2010 taxes Education tax credits. How can i file my 2010 taxes Earned income credit. How can i file my 2010 taxes Penalty for underpayment of estimated tax. How can i file my 2010 taxes   If you make this election for 2013 and did not have enough tax withheld or pay enough estimated tax to cover the tax you owe, you may be subject to a penalty. How can i file my 2010 taxes If you plan to make this election for 2014, you may need to increase your federal income tax withholding or your estimated tax payments to avoid the penalty. How can i file my 2010 taxes Get Publication 505 for more information. How can i file my 2010 taxes Figuring Child's Income Use Form 8814, Part I, to figure your child's interest and dividend income to report on your return. How can i file my 2010 taxes Only the amount over $2,000 is added to your income. How can i file my 2010 taxes The amount over $2,000 is shown on Form 8814, line 6. How can i file my 2010 taxes Unless the child's income includes qualified dividends or capital gain distributions (discussed next), the same amount is shown on Form 8814, line 12. How can i file my 2010 taxes Include the amount from Form 8814, line 12, on Form 1040 or Form 1040NR, line 21. How can i file my 2010 taxes If you file more than one Form 8814, include the total amounts from line 12 of all your Forms 8814 on Form 1040 or Form 1040NR, line 21. How can i file my 2010 taxes On the dotted line next to line 21, enter “Form 8814” and the total of the Form 8814, line 12 amounts. How can i file my 2010 taxes Note. How can i file my 2010 taxes The tax on the first $2,000 is figured on Form 8814, Part II. How can i file my 2010 taxes See Figuring Additional Tax , later. How can i file my 2010 taxes Qualified dividends. How can i file my 2010 taxes   Enter on Form 8814, line 2a, any ordinary dividends your child received. How can i file my 2010 taxes This amount may include qualified dividends. How can i file my 2010 taxes Qualified dividends are those dividends reported on Form 1040, line 9b, or Form 1040NR, line 10b, and are eligible for lower tax rates that apply to a net capital gain. How can i file my 2010 taxes For detailed information about qualified dividends, see Publication 550. How can i file my 2010 taxes   If your child received qualified dividends, the amount of these dividends that is added to your income must be reported on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. How can i file my 2010 taxes You do not include these dividends on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. How can i file my 2010 taxes   Enter the child's qualified dividends on Form 8814, line 2b. How can i file my 2010 taxes But do not include this amount on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. How can i file my 2010 taxes Instead, include the amount from Form 8814, line 9, on Form 1040, lines 9a and 9b, or Form 1040NR, lines 10a and 10b. How can i file my 2010 taxes (The amount on Form 8814, line 9, may be less than the amount on Form 8814, line 2b, because lines 7 through 12 of the form divide the $2,000 base amount on Form 8814, line 5, between the child's qualified dividends, capital gain distributions, and other interest and dividend income, reducing each of those amounts. How can i file my 2010 taxes ) Capital gain distributions. How can i file my 2010 taxes   Enter on Form 8814, line 3, any capital gain distributions your child received. How can i file my 2010 taxes The amount of these distributions that is added to your income must be reported on Schedule D (Form 1040), line 13, or, if you are not required to file Schedule D, on Form 1040, line 13, or Form 1040NR, line 14. How can i file my 2010 taxes You do not include it on Form 8814, line 12, or on line 21 of Form 1040 or Form 1040NR. How can i file my 2010 taxes   Include the amount from Form 8814, line 10, on Schedule D, line 13; Form 1040, line 13; or Form 1040NR, line 14, whichever applies. How can i file my 2010 taxes (The amount on Form 8814, line 10, may be less than the amount on Form 8814, line 3, because lines 7 through 12 of the form divide the $2,000 base amount on Form 8814, line 5, between the child's qualified dividends, capital gain distributions, and other interest and dividend income, reducing each of those amounts. How can i file my 2010 taxes ) Collectibles (28% rate) gain. How can i file my 2010 taxes    If any of the child's capital gain distributions are reported on Form 1099-DIV as collectibles (28% rate) gain, you must determine how much to also include on line 4 of the 28% Rate Gain Worksheet, in the instructions for Schedule D, line 18. How can i file my 2010 taxes Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. How can i file my 2010 taxes The numerator is the part of the child's total capital gain distribution that is collectibles (28% rate) gain. How can i file my 2010 taxes The denominator is the child's total capital gain distribution. How can i file my 2010 taxes Enter the result on line 4 of the 28% Rate Gain Worksheet. How can i file my 2010 taxes Unrecaptured section 1250 gain. How can i file my 2010 taxes   If any of the child's capital gain distributions are reported on Form 1099-DIV as unrecaptured section 1250 gain, you must determine how much to include on line 11 of the Unrecaptured Section 1250 Gain Worksheet in the instructions for Schedule D, line 19. How can i file my 2010 taxes Multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. How can i file my 2010 taxes The numerator is the part of the child's total capital gain distribution that is unrecaptured section 1250 gain. How can i file my 2010 taxes The denominator is the child's total capital gain distribution. How can i file my 2010 taxes Enter the result on the Unrecaptured Section 1250 Gain Worksheet, line 11. How can i file my 2010 taxes Section 1202 gain. How can i file my 2010 taxes   If any of the child's capital gain distributions are reported as section 1202 gain (gain on qualified small business stock) on Form 1099-DIV, part or all of that gain may be eligible for the section 1202 exclusion. How can i file my 2010 taxes (For information about the exclusion, see chapter 4 of Publication 550. How can i file my 2010 taxes ) To figure that part, multiply the child's capital gain distribution included on Schedule D, line 13, by a fraction. How can i file my 2010 taxes The numerator is the part of the child's total capital gain distribution that is section 1202 gain. How can i file my 2010 taxes The denominator is the child's total capital gain distribution. How can i file my 2010 taxes Your section 1202 exclusion is generally 50% of the result, but may be subject to a limit. How can i file my 2010 taxes In some cases, the exclusion is more than 50%. How can i file my 2010 taxes See the instructions for Schedule D for details and information on how to report the exclusion amount. How can i file my 2010 taxes Example. How can i file my 2010 taxes Fred is 6 years old. How can i file my 2010 taxes In 2013, he received dividend income of $2,100, which included $1,575 of ordinary dividends and a $525 capital gain distribution from a mutual fund. How can i file my 2010 taxes (None of the distributions were reported on Form 1099-DIV as unrecaptured section 1250 gain, section 1202 gain, or collectibles (28% rate) gain. How can i file my 2010 taxes ) All of the ordinary dividends are qualified dividends. How can i file my 2010 taxes He has no other income and is not subject to backup withholding. How can i file my 2010 taxes No estimated tax payments were made under his name and social security number. How can i file my 2010 taxes Fred's parents elect to include Fred's income on their tax return instead of filing a return for him. How can i file my 2010 taxes They figure the amount to report on Form 1040, lines 9a and 9b, the amount to report on their Schedule D, line 13, and the amount to report on Form 1040, line 21, as follows. How can i file my 2010 taxes They leave lines 1a and 1b of Form 8814 blank because Fred does not have any interest income. How can i file my 2010 taxes They enter his ordinary dividends of $1,575 on lines 2a and 2b because all of Fred's ordinary dividends are qualified dividends. How can i file my 2010 taxes They enter the amount of Fred's capital gain distributions, $525, on line 3. How can i file my 2010 taxes Next, they add the amounts on lines 1a, 2a, and 3 and enter the result, $2,100, on line 4. How can i file my 2010 taxes They subtract the base amount on line 5, $2,000, from the amount on line 4, $2,100, and enter the result, $100, on line 6. How can i file my 2010 taxes This is the total amount from Form 8814 to be reported on their return. How can i file my 2010 taxes Next, they figure how much of this amount is qualified dividends and how much is capital gain distributions. How can i file my 2010 taxes They divide the amount on line 2b, $1,575, by the amount on line 4, $2,100. How can i file my 2010 taxes They enter the result, . How can i file my 2010 taxes 75, on line 7. How can i file my 2010 taxes They divide the amount on line 3, $525, by the amount on line 4, $2,100. How can i file my 2010 taxes They enter the result, . How can i file my 2010 taxes 25, on line 8. How can i file my 2010 taxes They multiply the amount on line 6, $100, by the decimal on line 7, . How can i file my 2010 taxes 75, and enter the result, $75, on line 9. How can i file my 2010 taxes They multiply the amount on line 6, $100, by the decimal on line 8, . How can i file my 2010 taxes 25, and enter the result, $25, on line 10. How can i file my 2010 taxes They include the amount from line 9, $75, on lines 9a and 9b of their Form 1040 and enter “Form 8814 – $75” on the dotted lines next to lines 9a and 9b. How can i file my 2010 taxes They include the amount from line 10, $25, on line 13 of their Schedule D (Form 1040) and enter “Form 8814 – $25” on the dotted line next to Schedule D, line 13. How can i file my 2010 taxes They enter $100 ($75 + $25) on line 11 and -0- ($100 – $100) on line 12. How can i file my 2010 taxes Because the amount on line 12 is -0-, they do not include any amount from Form 8814 on their Form 1040, line 21. How can i file my 2010 taxes Figuring Additional Tax Use Form 8814, Part II, to figure the tax on the $2,000 of your child's interest and dividends that you do not include in your income. How can i file my 2010 taxes This tax is added to the tax figured on your income. How can i file my 2010 taxes This additional tax is the smaller of: 10% x (your child's gross income − $1,000), or $100. How can i file my 2010 taxes Include the amount from line 15 of all your Forms 8814 in the total on Form 1040, line 44, or Form 1040NR, line 42. How can i file my 2010 taxes Check box a on Form 1040, line 44, or Form 1040NR, line 42. How can i file my 2010 taxes Tax for Certain Children Who Have Unearned Income If a child's interest, dividends, and other unearned income total more than $2,000, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. How can i file my 2010 taxes If the parent does not or cannot choose to include the child's income on the parent's return, use Form 8615 to figure the child's tax. How can i file my 2010 taxes Attach the completed form to the child's Form 1040, Form 1040A, or Form 1040NR. How can i file my 2010 taxes When Form 8615 must be filed. How can i file my 2010 taxes   Form 8615 must be filed for a child if all of the following statements are true. How can i file my 2010 taxes The child's unearned income was more than $2,000. How can i file my 2010 taxes The child is required to file a return for 2013. How can i file my 2010 taxes The child either: Was under age 18 at the end of the year, Was age 18 at the end of the year and did not have earned income that was more than half of his or her support, or Was over age 18 and under age 24 at the end of the year, was a full-time student, and did not have earned income that was more than half of his or her support. How can i file my 2010 taxes At least one of the child's parents was alive at the end of 2013. How can i file my 2010 taxes The child does not file a joint return for 2013. How can i file my 2010 taxes These conditions are also shown in Figure 2. How can i file my 2010 taxes Certain January 1 birthdays. How can i file my 2010 taxes   Use the following chart to determine whether certain children with January 1 birthdays meet condition 3 under When Form 8615 must be filed. How can i file my 2010 taxes IF a child was born on. How can i file my 2010 taxes . How can i file my 2010 taxes . How can i file my 2010 taxes THEN, at the end of 2013, the child is considered to be. How can i file my 2010 taxes . How can i file my 2010 taxes . How can i file my 2010 taxes January 1, 1996 18* January 1, 1995 19** January 1, 1990 24*** *This child is not under age 18. How can i file my 2010 taxes The child meets condition 3 only if the child did not have earned income that was more than half of the child's support. How can i file my 2010 taxes  **This child meets condition 3 only if the child was a full-time student who did not have earned income that was more than half of the child's support. How can i file my 2010 taxes  ***Do not use Form 8615 for this child. How can i file my 2010 taxes Figure 2. How can i file my 2010 taxes Do You Have To Use Form 8615 To Figure Your Child's Tax? Please click here for the text description of the image. How can i file my 2010 taxes Figure 2. How can i file my 2010 taxes Do You Have To Use Form 8615 To Figure Your Child's Tax? Providing Parental Information (Form 8615, Lines A–C) On Form 8615, lines A and B, enter the parent's name and social security number. How can i file my 2010 taxes (If the parents filed a joint return, enter the name and social security number listed first on the joint return. How can i file my 2010 taxes ) On line C, check the box for the parent's filing status. How can i file my 2010 taxes See Which Parent's Return To Use, earlier, for information on which parent's return information must be used on Form 8615. How can i file my 2010 taxes Parent with different tax year. How can i file my 2010 taxes   If the parent and the child do not have the same tax year, complete Form 8615 using the information on the parent's return for the tax year that ends in the child's tax year. How can i file my 2010 taxes Example. How can i file my 2010 taxes Kimberly must use her mother's tax and taxable income to complete her Form 8615 for calendar year 2013 (January 1 – December 31). How can i file my 2010 taxes Kimberly's mother files her tax return on a fiscal year basis (July 1 – June 30). How can i file my 2010 taxes Kimberly must use the information on her mother's return for the tax year ending June 30, 2013, to complete her 2013 Form 8615. How can i file my 2010 taxes Parent's return information not known timely. How can i file my 2010 taxes   If the information needed from the parent's return is not known by the time the child's return is due (usually April 15), you can file the return using estimates. How can i file my 2010 taxes   You can use any reasonable estimate. How can i file my 2010 taxes This includes using information from last year's return. How can i file my 2010 taxes If you use an estimated amount on Form 8615, enter “Estimated” on the line next to the amount. How can i file my 2010 taxes   When you get the correct information, file an amended return on Form 1040X, Amended U. How can i file my 2010 taxes S. How can i file my 2010 taxes Individual Income Tax Return. How can i file my 2010 taxes Extension of time to file. How can i file my 2010 taxes   Instead of using estimates, you can get an automatic 6-month extension of time to file if, by the date your return is due, you file Form 4868, Application for Automatic Extension of Time To File U. How can i file my 2010 taxes S. How can i file my 2010 taxes Individual Income Tax Return. How can i file my 2010 taxes See the instructions for Form 4868 for details. How can i file my 2010 taxes    An extension of time to file is not an extension of time to pay. How can i file my 2010 taxes You must make an accurate estimate of the tax for 2013. How can i file my 2010 taxes If you do not pay the full amount due by the regular due date, the child will owe interest and may also be charged penalties. How can i file my 2010 taxes See Form 4868 and its instructions. How can i file my 2010 taxes Parent's return information not available. How can i file my 2010 taxes   If a child cannot get the required information about his or her parent's tax return, the child (or the child's legal representative) can request the necessary information from the Internal Revenue Service (IRS). How can i file my 2010 taxes How to request. How can i file my 2010 taxes   After the end of the tax year, send a signed, written request for the information to the Internal Revenue Service Center where the parent's return will be filed. How can i file my 2010 taxes (The IRS cannot process a request received before the end of the tax year. How can i file my 2010 taxes )    You should also consider getting an extension of time to file the child's return, because there may be a delay in getting the requested information. How can i file my 2010 taxes   The request must contain all of the following. How can i file my 2010 taxes A statement that you are making the request to comply with section 1(g) of the Internal Revenue Code and that you have tried to get the information from the parent. How can i file my 2010 taxes Proof of the child's age (for example, a copy of the child's birth certificate). How can i file my 2010 taxes Evidence the child has more than $2,000 of unearned income (for example, a copy of the child's prior year tax return or copies of Forms 1099 for the current year). How can i file my 2010 taxes The name, address, social security number (if known), and filing status (if known) of the parent whose information is to be shown on Form 8615. How can i file my 2010 taxes    A child's legal representative making the request should include a copy of his or her Power of Attorney, such as Form 2848, or proof of legal guardianship. How can i file my 2010 taxes Step 1. How can i file my 2010 taxes Figuring the Child's Net Unearned Income (Form 8615, Part I) The first step in figuring a child's tax using Form 8615 is to figure the child's net unearned income. How can i file my 2010 taxes To do that, use Form 8615, Part I. How can i file my 2010 taxes Line 1 (Unearned Income) If the child had no earned income, enter on this line the adjusted gross income shown on the child's return. How can i file my 2010 taxes Adjusted gross income is shown on Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 37. How can i file my 2010 taxes Form 1040EZ and Form 1040NR-EZ cannot be used if Form 8615 must be filed. How can i file my 2010 taxes If the child had earned income, figure the amount to enter on Form 8615, line 1, by using the worksheet in the instructions for the form. How can i file my 2010 taxes However, use the following worksheet if: the child has excluded any foreign earned income, deducted a loss from self-employment, or has a net operating loss from another year. How can i file my 2010 taxes Alternate Worksheet for Form 8615, Line 1 A. How can i file my 2010 taxes Enter the amount from the child's Form 1040, line 22, or Form 1040NR, line 23   B. How can i file my 2010 taxes Enter the total of any net loss  from self-employment, any net operating loss deduction, any foreign earned income exclusion, and any foreign housing exclusion from the child's Form 1040 or Form 1040NR. How can i file my 2010 taxes Enter this total as a positive number (greater than zero)   C. How can i file my 2010 taxes Add line A and line B and  enter the total   D. How can i file my 2010 taxes Enter the child's earned income plus any amount from the child's Form 1040, line 30, or the child's Form 1040NR, line 30     Generally, the child's earned income is the total of the amounts reported on Form 1040, lines 7, 12, and 18 (if line 12 or 18 is a loss, use zero) or Form 1040NR, lines 8, 13, and 19 (if line 13 or 19 is a loss, use zero)   E. How can i file my 2010 taxes Subtract line D from line C. How can i file my 2010 taxes Enter the result here and on Form 8615, line 1   Unearned income defined. How can i file my 2010 taxes   Unearned income is generally all income other than salaries, wages, and other amounts received as pay for work actually performed. How can i file my 2010 taxes It includes taxable interest, dividends, capital gains (including capital gain distributions), the taxable part of social security and pension payments, certain distributions from trusts, and unemployment compensation. How can i file my 2010 taxes Unearned income includes amounts produced by assets the child obtained with earned income (such as interest on a savings account into which the child deposited wages). How can i file my 2010 taxes Nontaxable income. How can i file my 2010 taxes   For this purpose, unearned income includes only amounts the child must include in gross income. How can i file my 2010 taxes Nontaxable unearned income, such as tax-exempt interest and the nontaxable part of social security and pension payments, is not included. How can i file my 2010 taxes Capital loss. How can i file my 2010 taxes   A child's capital losses are taken into account in figuring the child's unearned income. How can i file my 2010 taxes Capital losses are first applied against capital gains. How can i file my 2010 taxes If the capital losses are more than the capital gains, the difference (up to $3,000) is subtracted from the child's interest, dividends, and other unearned income. How can i file my 2010 taxes Any difference over $3,000 is carried to the next year. How can i file my 2010 taxes Income from property received as a gift. How can i file my 2010 taxes   A child's unearned income includes all income produced by property belonging to the child. How can i file my 2010 taxes This is true even if the property was transferred to the child, regardless of when the property was transferred or purchased or who transferred it. How can i file my 2010 taxes   A child's unearned income includes income produced by property given as a gift to the child. How can i file my 2010 taxes This includes gifts to the child from grandparents or any other person and gifts made under the Uniform Gift to Minors Act. How can i file my 2010 taxes Example. How can i file my 2010 taxes Amanda Black, age 13, received the following income. How can i file my 2010 taxes Dividends—$800 Wages—$2,100 Taxable interest—$1,200 Tax-exempt interest—$100 Capital gains—$300 Capital losses—($200) The dividends were qualified dividends on stock given to her by her grandparents. How can i file my 2010 taxes Amanda's unearned income is $2,100. How can i file my 2010 taxes This is the total of the dividends ($800), taxable interest ($1,200), and capital gains reduced by capital losses ($300 − $200 = $100). How can i file my 2010 taxes Her wages are earned (not unearned) income because they are received for work actually performed. How can i file my 2010 taxes Her tax-exempt interest is not included because it is nontaxable. How can i file my 2010 taxes Trust income. How can i file my 2010 taxes   If a child is the beneficiary of a trust, distributions of taxable interest, dividends, capital gains, and other unearned income from the trust are unearned income to the child. How can i file my 2010 taxes   However, taxable distributions from a qualified disability trust are considered earned income for the purposes of completing Form 8615. How can i file my 2010 taxes See the Form 8615 instructions for details. How can i file my 2010 taxes Adjustment to income. How can i file my 2010 taxes   In figuring the amount to enter on line 1, the child's unearned income is reduced by any penalty on the early withdrawal of savings. How can i file my 2010 taxes Line 2 (Deductions) If the child does not itemize deductions on Schedule A (Form 1040 or Form 1040NR), enter $2,000 on line 2. How can i file my 2010 taxes If the child itemizes deductions, enter on line 2 the larger of: $1,000 plus the portion of the child's itemized deductions on Schedule A (Form 1040), line 29 (or Schedule A (Form 1040NR), line 15), that are directly connected with the production of the unearned income entered on line 1, or $2,000. How can i file my 2010 taxes Directly connected. How can i file my 2010 taxes   Itemized deductions are directly connected with the production of unearned income if they are for expenses paid to produce or collect taxable income or to manage, conserve, or maintain property held for producing income. How can i file my 2010 taxes These expenses include custodian fees and service charges, service fees to collect taxable interest and dividends, and certain investment counsel fees. How can i file my 2010 taxes    These expenses are added to certain other miscellaneous itemized deductions on Schedule A (Form 1040). How can i file my 2010 taxes Only the amount greater than 2% of the child's adjusted gross income can be deducted. How can i file my 2010 taxes See Publication 529, Miscellaneous Deductions, for more information. How can i file my 2010 taxes Example 1. How can i file my 2010 taxes Roger, age 12, has unearned income of $8,000, no other income, no adjustments to income, and itemized deductions of $300 (net of the 2%-of-adjusted-gross-income limit) that are directly connected with his unearned income. How can i file my 2010 taxes His adjusted gross income is $8,000, which is entered on Form 1040, line 38, and on Form 8615, line 1. How can i file my 2010 taxes Roger enters $2,000 on line 2 because that is more than the total of $1,000 plus his directly-connected itemized deductions of $300. How can i file my 2010 taxes Example 2. How can i file my 2010 taxes Eleanor, age 8, has unearned income of $16,000 and an early withdrawal penalty of $100. How can i file my 2010 taxes She has no other income. How can i file my 2010 taxes She has itemized deductions of $1,050 (net of the 2%-of-adjusted-gross-income limit) that are directly connected with the production of her unearned income. How can i file my 2010 taxes Her adjusted gross income, entered on line 1, is $15,900 ($16,000 − $100). How can i file my 2010 taxes The amount on line 2 is $2,050. How can i file my 2010 taxes This is the larger of: $1,000 plus the $1,050 of directly connected itemized deductions, or $2,000. How can i file my 2010 taxes Line 3 Subtract line 2 from line 1 and enter the result on this line. How can i file my 2010 taxes If zero or less, do not complete the rest of the form. How can i file my 2010 taxes However, you must still attach Form 8615 to the child's tax return. How can i file my 2010 taxes Figure the tax on the child's taxable income in the normal manner. How can i file my 2010 taxes Line 4 (Child's Taxable Income) Enter on line 4 the child's taxable income from Form 1040, line 43; Form 1040A, line 27; or Form 1040NR, line 41. How can i file my 2010 taxes Child files Form 2555 or 2555-EZ. How can i file my 2010 taxes   If the child files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, the Foreign Earned Income Tax Worksheet (in the Form 1040 instructions) is used to figure the child's tax. How can i file my 2010 taxes Enter the amount from line 3 of the Foreign Earned Income Tax Worksheet as the child's taxable income on Form 8615, line 4. How can i file my 2010 taxes Line 5 (Net Unearned Income) A child's net unearned income cannot be more than his or her taxable income. How can i file my 2010 taxes Enter on Form 8615, line 5, the smaller of line 3 or line 4. How can i file my 2010 taxes This is the child's net unearned income. How can i file my 2010 taxes If zero or less, do not complete the rest of the form. How can i file my 2010 taxes However, you must still attach Form 8615 to the child's tax return. How can i file my 2010 taxes Figure the tax on the child's taxable income in the normal manner. How can i file my 2010 taxes Step 2. How can i file my 2010 taxes Figuring a Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) The next step in completing Form 8615 is to figure a tentative tax on the child's net unearned income at the parent's tax rate. How can i file my 2010 taxes The tentative tax at the parent's tax rate is the difference between the tax on the parent's taxable income figured with the child's net unearned income (plus the net unearned income of any other child whose Form 8615 includes the tax return information of that parent) and the tax figured without it. How can i file my 2010 taxes When figuring the tentative tax at the parent's tax rate on Form 8615, do not refigure any of the exclusions, deductions, or credits on the parent's return because of the child's net unearned income. How can i file my 2010 taxes For example, do not refigure the medical expense deduction. How can i file my 2010 taxes Figure the tentative tax on Form 8615, lines 6 through 13. How can i file my 2010 taxes Line 6 (Parent's Taxable Income) Enter on line 6 the amount from the parent's Form 1040, line 43; Form 1040A, line 27; Form 1040EZ, line 6; Form 1040NR, line 41; or Form 1040NR-EZ, line 14. How can i file my 2010 taxes If the parent's taxable income is zero or less, enter zero on line 6. How can i file my 2010 taxes Parent files Form 2555 or 2555-EZ. How can i file my 2010 taxes   If the parent files Form 2555 or 2555-EZ to claim the foreign earned income exclusion, housing exclusion, or housing deduction, the Foreign Earned Income Tax Worksheet in the Form 1040 instructions is used to figure the parent's tax. How can i file my 2010 taxes Enter the amount from line 3 of the Foreign Earned Income Tax Worksheet as the parent's taxable income, on line 6 of Form 8615. How can i file my 2010 taxes Line 7 (Net Unearned Income of Other Children) If the tax return information of the parent is also used on any other child's Form 8615, enter on line 7 the total of the amounts from line 5 of all the other children's Forms 8615. How can i file my 2010 taxes Do not include the amount from line 5 of the Form 8615 being completed. How can i file my 2010 taxes (The term “other child” means any other child whose Form 8615 uses the tax information of the parent identified on Lines A and B of Form 8615. How can i file my 2010 taxes ) Example. How can i file my 2010 taxes Paul and Jane Persimmon have three children, Sharon, Jerry, and Mike, who must attach Form 8615 to their tax returns. How can i file my 2010 taxes The children's net unearned income amounts on line 5 of their Forms 8615 are: Sharon—$800 Jerry—$600 Mike—$1,000 Line 7 of Sharon's Form 8615 will show $1,600, the total of the amounts on line 5 of Jerry's and Mike's Forms 8615. How can i file my 2010 taxes Line 7 of Jerry's Form 8615 will show $1,800 ($800 + $1,000). How can i file my 2010 taxes Line 7 of Mike's Form 8615 will show $1,400 ($800 + $600). How can i file my 2010 taxes Other children's information not available. How can i file my 2010 taxes   If the net unearned income of the other children is not available when the return is due, either file the return using estimates or get an extension of time to file. How can i file my 2010 taxes Estimates and extensions are discussed earlier under Providing Parental Information (Form 8615, Lines A–C) . How can i file my 2010 taxes Line 8 (Parent's Taxable Income Plus Children's Net Unearned Income) Enter on this line the total of lines 5, 6, and 7. How can i file my 2010 taxes You must determine the amount of net capital gain and qualified dividends included on this line before completing Form 8615, line 9. How can i file my 2010 taxes Net capital gain. How can i file my 2010 taxes   Net capital gain is the smaller of the gain, if any, on Schedule D (Form 1040), line 15, or the gain, if any, on Schedule D, line 16. How can i file my 2010 taxes If Schedule D is not required, it is the amount on Form 1040, line 13; Form 1040A, line 10; or Form 1040NR, line 14. How can i file my 2010 taxes Qualified dividends. How can i file my 2010 taxes   Qualified dividends are those dividends reported on line 9b of Form 1040 or Form 1040A, or line 10b of Form 1040NR. How can i file my 2010 taxes Net capital gain and qualified dividends on line 8. How can i file my 2010 taxes   If neither the child, nor the parent, nor any other child has net capital gain, the net capital gain on line 8 is zero. How can i file my 2010 taxes   If neither the child, nor the parent, nor any other child has qualified dividends, the amount of qualified dividends on line 8 is zero. How can i file my 2010 taxes   If the child, parent, or any other child has net capital gain, figure the amount of net capital gain included on line 8 by adding together the net capital gain amounts included on lines 5, 6, and 7 of Form 8615. How can i file my 2010 taxes   If the child, parent, or any other child has qualified dividends, figure the amount of qualified dividends included on line 8 by adding together the qualified dividend amounts included on lines 5, 6, and 7. How can i file my 2010 taxes   Use the instructions for Form 8615, line 8, including the appropriate Line 5 Worksheet, to find these amounts. How can i file my 2010 taxes See the instructions for Form 8615 for more details. How can i file my 2010 taxes Note. How can i file my 2010 taxes The amount of any net capital gain or qualified dividends is not separately reported on line 8. How can i file my 2010 taxes It is  needed, however, when figuring the tax on line 9. How can i file my 2010 taxes Line 9 (Tax on Parent's Taxable Income Plus Children's Net Unearned Income) Figure the tax on the amount on line 8 using the Tax Table, the Tax Computation Worksheet, the Qualified Dividends and Capital Gain Tax Worksheet (in the Form 1040, 1040A, or 1040NR instructions), the Schedule D Tax Worksheet (in the Schedule D instructions), or Schedule J (Form 1040), as follows. How can i file my 2010 taxes If line 8 does not include any net capital gain or qualified dividends, use the Tax Table or Tax Computation Worksheet to figure this tax. How can i file my 2010 taxes But if Schedule J, Income Averaging for Farmers and Fishermen, is used to figure the tax on the parent's return, use it to figure this tax. How can i file my 2010 taxes If line 8 includes any net capital gain or qualified dividends, use the Qualified Dividends and Capital Gain Tax Worksheet to figure this tax. How can i file my 2010 taxes For details, see the instructions for Form 8615, line 9. How can i file my 2010 taxes However, if the child, parent, or any other child has 28% rate gain or unrecaptured section 1250 gain, use the Schedule D Tax Worksheet. How can i file my 2010 taxes But if Schedule J is used to figure the tax on the parent's return, use it to figure this tax. How can i file my 2010 taxes Child files Form 2555 or 2555-EZ. How can i file my 2010 taxes   If line 8 includes any net capital gain or qualified dividends and the child, or any other child filing Form 8615, also files Form 2555 or 2555-EZ, use Using the Schedule D Tax Worksheet for line 9 tax, next, to figure the line 9 tax. How can i file my 2010 taxes Using the Schedule D Tax Worksheet for line 9 tax. How can i file my 2010 taxes    Use the Schedule D Tax Worksheet (in the Schedule D instructions) to figure the line 9 tax on Form 8615 if the child, parent, or any other child has unrecaptured section 1250 gain or 28% rate gain. How can i file my 2010 taxes If you must use the Schedule D Tax Worksheet, first complete any Schedule D and any actual Schedule D Tax Worksheet required for the child, parent, or any other child. How can i file my 2010 taxes Then figure the line 9 tax using another Schedule D Tax Worksheet. How can i file my 2010 taxes (Do not attach this Schedule D Tax Worksheet to the child's return. How can i file my 2010 taxes )   Complete this Schedule D Tax Worksheet as follows. How can i file my 2010 taxes On line 1, enter the amount from Form 8615, line 8. How can i file my 2010 taxes On line 2, enter the qualified dividends included on Form 8615, line 8. How can i file my 2010 taxes (See the earlier discussion for line 8. How can i file my 2010 taxes ) On line 3, enter the total of the amounts, if any, on line 4g of all Forms 4952 filed by the child, parent, or any other child. How can i file my 2010 taxes On line 4, enter the total of the amounts, if any, on line 4e of all Forms 4952 filed by the child, parent, or any other child. How can i file my 2010 taxes If applicable, include instead the smaller amount entered on the dotted line next to line 4e. How can i file my 2010 taxes On lines 5 and 6, follow the worksheet instructions. How can i file my 2010 taxes On line 7, enter the net capital gain included on Form 8615, line 8. How can i file my 2010 taxes (See the earlier discussion for line 8. How can i file my 2010 taxes ) On lines 8 through 10, follow the worksheet instructions. How can i file my 2010 taxes On line 11, enter zero if neither the child, nor the parent, nor any other child has unrecaptured section 1250 gain (Schedule D, line 19) or 28% rate gain (Schedule D, line 18). How can i file my 2010 taxes Otherwise, enter the amount of unrecaptured section 1250 gain and 28% rate gain included in the net capital gain on line 8 of Form 8615. How can i file my 2010 taxes Figure these amounts as explained later under Figuring unrecaptured section 1250 gain (line 11) and Figuring 28% rate gain (line 11). How can i file my 2010 taxes If the Foreign Earned Income Tax Worksheet was used to figure the parent's tax or the tax of any child, go to step 10 below. How can i file my 2010 taxes Otherwise, skip steps 10, 11, and 12 below, and go to step 13. How can i file my 2010 taxes Determine whether there is a line 8 capital gain excess as follows. How can i file my 2010 taxes Add the amounts on line 2 of all Foreign Earned Income Tax Worksheets completed by the parent or any child for whom Form 8615 is filed. How can i file my 2010 taxes (But for each child do not add more than the excess, if any, of the amount on line 5 of the child's Form 8615 over the child's taxable income on Form 1040, line 43; Form 1040A, line 27; or Form 1040NR, line 41. How can i file my 2010 taxes ) Subtract (a) from the amount on line 1 of this Schedule D Tax Worksheet. How can i file my 2010 taxes Subtract (b) from the amount on line 10 of this Schedule D Tax Worksheet. How can i file my 2010 taxes If the result is more than zero, that amount is the line 8 capital gain excess. How can i file my 2010 taxes If the result is zero or less, there is no line 8 capital gain excess. How can i file my 2010 taxes If there is no line 8 capital gain excess, skip step 12 below and go to step 13. How can i file my 2010 taxes If there is a line 8 capital gain excess, complete a second Schedule D Tax Worksheet as instructed above and in step 13, but in its entirety and with the following additional modifications. How can i file my 2010 taxes (These modifications are to be made only for purposes of filling out this additional Schedule D Tax Worksheet. How can i file my 2010 taxes ) Reduce the amount you would otherwise enter on line 9 (but not below zero) by the line 8 capital gain excess. How can i file my 2010 taxes Reduce the amount you would otherwise enter on line 6 (but not below zero) by any of the line 8 capital gain excess not used in (a) above. How can i file my 2010 taxes If the child, parent, or any other child has 28% rate gain, reduce the amount you would otherwise enter on line 8 of Worksheet 1 for Line 11 of the Schedule D Tax Worksheet – 28% Rate Gain (Line 9 Tax), shown later, (but not below zero) by the line 8 capital gain excess, and refigure the amount on line 11 of this Schedule D Tax Worksheet. How can i file my 2010 taxes If the child, parent, or any other child has unrecaptured section 1250 gain, reduce the amount you would otherwise enter on line 8 of Worksheet 2 for Line 11 of the Schedule D Tax Worksheet – Unrecaptured Section 1250 Gain (Line 9 Tax) (but not below zero) by the line 8 capital gain excess not used in 12(c), and refigure the amount on line 11 of this Schedule D Tax Worksheet. How can i file my 2010 taxes Complete lines 12 through 45 following the worksheet instructions. How can i file my 2010 taxes Use the parent's filing status to complete lines 15, 42, and 44. How can i file my 2010 taxes Enter the amount from line 45 of this Schedule D Tax Worksheet on Form 8615, line 9, and check the box on that line