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Income Tax Preparation

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Income Tax Preparation

Income tax preparation Publication 721 - Main Content Table of Contents Part I General InformationRefund of Contributions Tax Withholding and Estimated Tax Filing Requirements Part II Rules for RetireesAnnuity starting date. Income tax preparation Gross monthly rate. Income tax preparation Your cost. Income tax preparation Choosing a survivor annuity after retirement. Income tax preparation Canceling a survivor annuity after retirement. Income tax preparation Annuity starting date after 1986. Income tax preparation Annuity starting date before 1987. Income tax preparation Simplified Method General Rule Three-Year Rule Alternative Annuity Option Federal Gift Tax Retirement During the Past Year Reemployment After Retirement Nonresident Aliens Thrift Savings Plan Rollover Rules Distributions Used To Pay Insurance Premiums for Public Safety Officers How To Report Benefits Part III Rules for Disability Retirement and Credit for the Elderly or the DisabledDisability Annuity Other Benefits Credit for the Elderly or the Disabled Part IV Rules for Survivors of Federal EmployeesFERS Death Benefit CSRS or FERS Survivor Annuity Lump-Sum CSRS or FERS Payment Thrift Savings Plan Federal Estate Tax Part V Rules for Survivors of Federal RetireesCSRS or FERS Survivor Annuity Lump-Sum CSRS or FERS Payment Voluntary Contributions Thrift Savings Plan Federal Estate Tax Income Tax Deduction for Estate Tax Paid How To Get Tax HelpLow Income Taxpayer Clinics Part I General Information This part of the publication contains information that can apply to most recipients of civil service retirement benefits. Income tax preparation Refund of Contributions If you leave federal government service or transfer to a job not under the CSRS or FERS and you are not eligible for an immediate annuity, you can choose to receive a refund of the money in your CSRS or FERS retirement account. Income tax preparation The refund will include both regular and voluntary contributions you made to the fund, plus any interest payable. Income tax preparation If the refund includes only your contributions, none of the refund is taxable. Income tax preparation If it includes any interest, the interest is taxable unless you roll it over directly into another qualified plan or a traditional individual retirement arrangement (IRA). Income tax preparation If you do not have the Office of Personnel Management (OPM) transfer the interest to an IRA or other plan in a direct rollover, tax will be withheld at a 20% rate. Income tax preparation See Rollover Rules in Part II for information on how to make a rollover. Income tax preparation Interest is not paid on contributions to the CSRS for service after 1956 unless your service was for more than 1 year but not more than 5 years. Income tax preparation Therefore, many employees who withdraw their contributions under the CSRS do not get interest and do not owe any tax on their refund. Income tax preparation If you do not roll over interest included in your refund, it may qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. Income tax preparation If you separate from service before the calendar year in which you reach age 55, it may be subject to an additional 10% tax on early distributions. Income tax preparation For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. Income tax preparation A lump-sum distribution is eligible for capital gain treatment or the 10-year tax option only if the plan participant was born before January 2, 1936. Income tax preparation Tax Withholding and Estimated Tax The CSRS or FERS annuity you receive is subject to federal income tax withholding, unless you choose not to have tax withheld. Income tax preparation OPM will tell you how to make the choice. Income tax preparation The choice for no withholding remains in effect until you change it. Income tax preparation These withholding rules also apply to a disability annuity, whether received before or after minimum retirement age. Income tax preparation If you choose not to have tax withheld, or if you do not have enough tax withheld, you may have to make estimated tax payments. Income tax preparation You may owe a penalty if the total of your withheld tax and estimated tax does not cover most of the tax shown on your return. Income tax preparation Generally, you will owe the penalty for 2014 if the additional tax you must pay with your return is $1,000 or more and more than 10% of the tax to be shown on your 2014 return. Income tax preparation For more information, including exceptions to the penalty, see chapter 4 of Publication 505, Tax Withholding and Estimated Tax. Income tax preparation Form CSA 1099R. Income tax preparation   Form CSA 1099R is mailed to you by OPM each year. Income tax preparation It will show any tax you had withheld. Income tax preparation File a copy of Form CSA 1099R with your tax return if any federal income tax was withheld. Income tax preparation    You also can view and download your Form CSA 1099R by visiting the OPM website at  www. Income tax preparation servicesonline. Income tax preparation opm. Income tax preparation gov. Income tax preparation To log in, you will need your retirement CSA claim number and your personal identification number. Income tax preparation Choosing no withholding on payments outside the United States. Income tax preparation   The choice for no withholding generally cannot be made for annuity payments to be delivered outside the United States and its possessions. Income tax preparation   To choose no withholding if you are a U. Income tax preparation S. Income tax preparation citizen or resident alien, you must provide OPM with your home address in the United States or its possessions. Income tax preparation Otherwise, OPM has to withhold tax. Income tax preparation For example, OPM must withhold if you provide a U. Income tax preparation S. Income tax preparation address for a nominee, trustee, or agent (such as a bank) to whom the benefits are to be delivered, but you do not provide your own U. Income tax preparation S. Income tax preparation home address. Income tax preparation   If you do not provide a home address in the United States or its possessions, you can choose not to have tax withheld only if you certify to OPM that you are not a U. Income tax preparation S. Income tax preparation citizen, a U. Income tax preparation S. Income tax preparation resident alien, or someone who left the United States to avoid tax. Income tax preparation But if you so certify, you may be subject to the 30% flat rate withholding that applies to nonresident aliens. Income tax preparation For details, see Publication 519, U. Income tax preparation S. Income tax preparation Tax Guide for Aliens. Income tax preparation Withholding certificate. Income tax preparation   If you give OPM a Form W-4P-A, Election of Federal Income Tax Withholding, you can choose not to have tax withheld or you can choose to have tax withheld. Income tax preparation The amount of tax withheld depends on your marital status, the number of withholding allowances, and any additional amount you designate to be withheld. Income tax preparation If you do not make either of these choices, OPM must withhold as if you were married with three withholding allowances. Income tax preparation To change the amount of tax withholding or to stop withholding, call OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. Income tax preparation C. Income tax preparation calling area must call 202-606-0500). Income tax preparation No special form is needed. Income tax preparation You will need your retirement CSA or CSF claim number, your social security number, and your personal identification number (PIN) when you call. Income tax preparation If you have TTY/TDD equipment, call 1-855–887–4957. Income tax preparation If you need a PIN, call OPM's Retirement Information Office. Income tax preparation You also can change the amount of withholding or stop withholding online by visiting the OPM website at www. Income tax preparation servicesonline. Income tax preparation opm. Income tax preparation gov. Income tax preparation You will need your retirement CSA or CSF claim number and your PIN. Income tax preparation Withholding from certain lump-sum payments. Income tax preparation   If you leave the federal government before becoming eligible to retire and you apply for a refund of your CSRS or FERS contributions, or you die without leaving a survivor eligible for an annuity, you or your beneficiary will receive a distribution of your contributions to the retirement plan plus any interest payable. Income tax preparation Tax will be withheld at a 20% rate on the interest distributed. Income tax preparation However, tax will not be withheld if you have OPM transfer (roll over) the interest directly to your traditional IRA or other qualified plan. Income tax preparation If you have OPM transfer (roll over) the interest directly to a Roth IRA, the entire amount will be taxed in the current year. Income tax preparation Because no income tax will be withheld at the time of the transfer, you may want to increase your withholding or pay estimated taxes. Income tax preparation See Rollover Rules in Part II. Income tax preparation If you receive only your contributions, no tax will be withheld. Income tax preparation Withholding from Thrift Savings Plan payments. Income tax preparation   Generally, a distribution that you receive from the TSP is subject to federal income tax withholding. Income tax preparation The amount withheld is: 20% if the distribution is an eligible rollover distribution, 10% if it is a nonperiodic distribution other than an eligible rollover distribution, or An amount determined as if you were married with three withholding allowances, unless you submit a withholding certificate (Form W-4P), if it is a periodic distribution. Income tax preparation  However, you usually can choose not to have tax withheld from TSP payments other than eligible rollover distributions. Income tax preparation By January 31 after the end of the year in which you receive a distribution, the TSP will issue Form 1099-R showing the total distributions you received in the prior year and the amount of tax withheld. Income tax preparation   For a detailed discussion of withholding on distributions from the TSP, see Important Tax Information About Payments From Your TSP Account, available from your agency personnel office or from the TSP. Income tax preparation The above document is also available in the “Forms & Publications” section of the TSP website at www. Income tax preparation tsp. Income tax preparation gov. Income tax preparation Estimated tax. Income tax preparation   Generally, you must make estimated tax payments for 2014 if you expect to owe at least $1,000 in tax for 2014 (after subtracting your withholding and credits) and you expect your withholding and your credits to be less than the smaller of: 90% of the tax to be shown on your income tax return for 2014, or 100% of the tax shown on your 2013 income tax return (110% of that amount if the adjusted gross income shown on the return was more than $150,000 ($75,000 if your filing status for 2014 will be married filing separately)). Income tax preparation The return must cover all 12 months. Income tax preparation   You do not have to pay estimated tax for 2014 if you were a U. Income tax preparation S. Income tax preparation citizen or resident alien for all of 2013 and you had no tax liability for the full 12-month 2013 tax year. Income tax preparation   Publication 505 contains information that you can use to help you figure your estimated tax payments. Income tax preparation Filing Requirements If your gross income, including the taxable part of your annuity, is less than a certain amount, you generally do not have to file a federal income tax return for that year. Income tax preparation The gross income filing requirements for the tax year are in the instructions to Form 1040, 1040A, or 1040EZ. Income tax preparation Children. Income tax preparation   If you are the surviving spouse of a federal employee or retiree and your monthly annuity check includes a survivor annuity for one or more children, each child's annuity counts as his or her own income (not yours) for federal income tax purposes. Income tax preparation   If your child can be claimed as a dependent, treat the taxable part of his or her annuity as unearned income when applying the filing requirements for dependents. Income tax preparation Form CSF 1099R. Income tax preparation   Form CSF 1099R will be mailed to you by January 31 after the end of each tax year. Income tax preparation It will show the total amount of the annuity you received in the past year. Income tax preparation It also should show, separately, the survivor annuity for a child or children. Income tax preparation Only the part that is each individual's survivor annuity should be shown on that individual's Form 1040 or 1040A. Income tax preparation   If your Form CSF 1099R does not show separately the amount paid to you for a child or children, attach a statement to your return, along with a copy of Form CSF 1099R, explaining why the amount shown on the tax return differs from the amount shown on Form CSF 1099R. Income tax preparation    You also can view and download your Form CSF 1099R by visiting the OPM website at  www. Income tax preparation servicesonline. Income tax preparation opm. Income tax preparation gov. Income tax preparation To log in you will need your retirement CSF claim number and personal identification number. Income tax preparation    You may request a Summary of Payments, showing the amounts paid to you for your child(ren), from OPM by calling OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. Income tax preparation C. Income tax preparation calling area must call 202-606-0500). Income tax preparation You will need your CSF claim number and your social security number when you call. Income tax preparation Taxable part of annuity. Income tax preparation   To find the taxable part of a retiree's annuity when applying the filing requirements, see the discussion in Part II, Rules for Retirees , or Part III, Rules for Disability Retirement and Credit for the Elderly or the Disabled , whichever applies. Income tax preparation To find the taxable part of each survivor annuity when applying the filing requirements, see the discussion in Part IV, Rules for Survivors of Federal Employees , or Part V, Rules for Survivors of Federal Retirees , whichever applies. Income tax preparation Part II Rules for Retirees This part of the publication is for retirees who retired on nondisability retirement. Income tax preparation If you retired on disability before you reached your minimum retirement age, see Part III, Rules for Disability Retirement and Credit for the Elderly or the Disabled. Income tax preparation However, on the day after you reach your minimum retirement age, use the rules in this section to report your disability retirement and begin recovering your cost. Income tax preparation Annuity statement. Income tax preparation   The statement you received from OPM when your CSRS or FERS annuity was approved shows the commencing date (the annuity starting date), the gross monthly rate of your annuity benefit, and your total contributions to the retirement plan (your cost). Income tax preparation You will use this information to figure the tax-free recovery of your cost. Income tax preparation Annuity starting date. Income tax preparation   If you retire from federal government service on a regular annuity, your annuity starting date is the commencing date on your annuity statement from OPM. Income tax preparation If something delays payment of your annuity, such as a late application for retirement, it does not affect the date your annuity begins to accrue or your annuity starting date. Income tax preparation Gross monthly rate. Income tax preparation   This is the amount you were to get after any adjustment for electing a survivor's annuity or for electing the lump-sum payment under the alternative annuity option (if either applied) but before any deduction for income tax withholding, insurance premiums, etc. Income tax preparation Your cost. Income tax preparation   Your monthly annuity payment contains an amount on which you have previously paid income tax. Income tax preparation This amount represents part of your contributions to the retirement plan. Income tax preparation Even though you did not receive the money that was contributed to the plan, it was included in your gross income for federal income tax purposes in the years it was taken out of your pay. Income tax preparation   The cost of your annuity is the total of your contributions to the retirement plan, as shown on your annuity statement from OPM. Income tax preparation If you elected the alternative annuity option, it includes any deemed deposits and any deemed redeposits that were added to your lump-sum credit. Income tax preparation (See Lump-sum credit under Alternative Annuity Option, later. Income tax preparation )   If you repaid contributions that you had withdrawn from the retirement plan earlier, or if you paid into the plan to receive full credit for service not subject to retirement deductions, the entire repayment, including any interest, is a part of your cost. Income tax preparation You cannot claim an interest deduction for any interest payments. Income tax preparation You cannot treat these payments as voluntary contributions; they are considered regular employee contributions. Income tax preparation Recovering your cost tax free. Income tax preparation   How you figure the tax-free recovery of the cost of your CSRS or FERS annuity depends on your annuity starting date. Income tax preparation If your annuity starting date is before July 2, 1986, either the Three-Year Rule or the General Rule (both discussed later) applies to your annuity. Income tax preparation If your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method (discussed later). Income tax preparation If your annuity starting date is after November 18, 1996, you must use the Simplified Method. Income tax preparation   Under both the General Rule and the Simplified Method, each of your monthly annuity payments is made up of two parts: the tax-free part that is a return of your cost, and the taxable part that is the amount of each payment that is more than the part that represents your cost (unless such payment is used for purposes discussed under Distributions Used To Pay Insurance Premiums for Public Safety Officers , later). Income tax preparation The tax-free part is a fixed dollar amount. Income tax preparation It remains the same, even if your annuity is increased. Income tax preparation Generally, this rule applies as long as you receive your annuity. Income tax preparation However, see Exclusion limit , later. Income tax preparation Choosing a survivor annuity after retirement. Income tax preparation    If you retired without a survivor annuity and report your annuity under the Simplified Method, do not change your tax-free monthly amount even if you later choose a survivor annuity. Income tax preparation   If you retired without a survivor annuity and report your annuity under the General Rule, you must figure the tax-free part of your annuity using a new exclusion percentage if you later choose a survivor annuity and take reduced annuity payments. Income tax preparation To figure the new exclusion percentage, reduce your cost by the amount you previously recovered tax free. Income tax preparation Figure the expected return as of the date the reduced annuity begins. Income tax preparation For details on the General Rule, see Publication 939. Income tax preparation Canceling a survivor annuity after retirement. Income tax preparation   If you retired with a survivor annuity payable to your spouse upon your death and you notify OPM that your marriage has ended, your annuity might be increased to remove the reduction for a survivor benefit. Income tax preparation The increased annuity does not change the cost recovery you figured at the annuity starting date. Income tax preparation The tax-free part of each annuity payment remains the same. Income tax preparation    For more information about choosing or canceling a survivor annuity after retirement, contact OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. Income tax preparation C. Income tax preparation calling area must call 202-606-0500). Income tax preparation Exclusion limit. Income tax preparation   Your annuity starting date determines the total amount of annuity payments that you can exclude from income over the years. Income tax preparation Annuity starting date after 1986. Income tax preparation   If your annuity starting date is after 1986, the total amount of annuity income that you (or the survivor annuitant) can exclude over the years as a return of your cost cannot exceed your total cost. Income tax preparation Annuity payments you or your survivors receive after the total cost in the plan has been recovered are generally fully taxable. Income tax preparation Example. Income tax preparation Your annuity starting date is after 1986 and you exclude $100 a month under the Simplified Method. Income tax preparation If your cost is $12,000, the exclusion ends after 10 years (120 months). Income tax preparation Thereafter, your entire annuity is generally fully taxable. Income tax preparation Annuity starting date before 1987. Income tax preparation   If your annuity starting date is before 1987, you can continue to take your monthly exclusion figured under the General Rule or Simplified Method for as long as you receive your annuity. Income tax preparation If you chose a joint and survivor annuity, your survivor can continue to take that same exclusion. Income tax preparation The total exclusion may be more than your cost. Income tax preparation Deduction of unrecovered cost. Income tax preparation   If your annuity starting date is after July 1, 1986, and the cost of your annuity has not been fully recovered at your (or the survivor annuitant's) death, a deduction is allowed for the unrecovered cost. Income tax preparation The deduction is claimed on your (or your survivor's) final tax return as a miscellaneous itemized deduction (not subject to the 2%-of-adjusted-gross-income limit). Income tax preparation If your annuity starting date is before July 2, 1986, no tax benefit is allowed for any unrecovered cost at death. Income tax preparation Simplified Method If your annuity starting date is after November 18, 1996, you must use the Simplified Method to figure the tax-free part of your CSRS or FERS annuity. Income tax preparation (OPM has figured the taxable amount of your annuity shown on your Form CSA 1099R using the Simplified Method. Income tax preparation ) You could have chosen to use either the Simplified Method or the General Rule if your annuity starting date is after July 1, 1986, but before November 19, 1996. Income tax preparation The Simplified Method does not apply if your annuity starting date is before July 2, 1986. Income tax preparation Under the Simplified Method, you figure the tax-free part of each full monthly payment by dividing your cost by a number of months based on your age. Income tax preparation This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. Income tax preparation If your annuity starting date is after 1997 and your annuity includes a survivor benefit for your spouse, this number is based on your combined ages. Income tax preparation Worksheet A. Income tax preparation   Use Worksheet A. Income tax preparation Simplified Method (near the end of this publication), to figure your taxable annuity. Income tax preparation Be sure to keep the completed worksheet. Income tax preparation It will help you figure your taxable amounts for later years. Income tax preparation Instead of Worksheet A, you generally can use the Simplified Method Worksheet in the instructions for Form 1040, Form 1040A, or Form 1040NR to figure your taxable annuity. Income tax preparation However, you must use Worksheet A and Worksheet B in this publication if you chose the alternative annuity option, discussed later. Income tax preparation Line 2. Income tax preparation   See Your cost , earlier, for an explanation of your cost in the plan. Income tax preparation If your annuity starting date is after November 18, 1996, and you chose the alternative annuity option (explained later), you must reduce your cost by the tax-free part of the lump-sum payment you received. Income tax preparation Line 3. Income tax preparation   The number you enter on line 3 is the appropriate number from Table 1 or 2 representing approximate life expectancies in months. Income tax preparation If your annuity starting date is after 1997, use: Table 1 for an annuity without a survivor benefit, or Table 2 for an annuity with a survivor benefit. Income tax preparation If your annuity starting date is before 1998, use Table 1. Income tax preparation Line 6. Income tax preparation   If you received contributions tax free before 2013, the amount previously recovered tax free that you must enter on line 6 is the total amount from line 10 of last year's worksheet. Income tax preparation If your annuity starting date is before November 19, 1996, and you chose the alternative annuity option, this amount includes the tax-free part of the lump-sum payment you received. Income tax preparation Example. Income tax preparation Bill Smith retired from the Federal Government on March 31, 2013, under an annuity that will provide a survivor benefit for his wife, Kathy. Income tax preparation His annuity starting date is April 1, 2013, the annuity is paid in arrears, and he received his first monthly annuity payment on May 1, 2013. Income tax preparation He must use the Simplified Method to figure the tax-free part of his annuity benefits. Income tax preparation Bill's monthly annuity benefit is $1,000. Income tax preparation He had contributed $31,000 to his retirement plan and had received no distributions before his annuity starting date. Income tax preparation At his annuity starting date, he was 65 and Kathy was 57. Income tax preparation Bill's completed Worksheet A is shown later. Income tax preparation To complete line 3, he used Table 2 at the bottom of the worksheet and found that 310 is the number in the second column opposite the age range that includes 122 (his and Kathy's combined ages). Income tax preparation Bill keeps a copy of the completed worksheet for his records. Income tax preparation It will help him (and Kathy, if she survives him) figure the taxable amount of the annuity in later years. Income tax preparation Bill's tax-free monthly amount is $100. Income tax preparation (See line 4 of the worksheet. Income tax preparation ) If he lives to collect more than 310 monthly payments, he will generally have to include in his gross income the full amount of any annuity payments received after 310 payments have been made. Income tax preparation If Bill does not live to collect 310 monthly payments and his wife begins to receive monthly payments, she also will exclude $100 from each monthly payment until 310 payments (Bill's and hers) have been collected. Income tax preparation If she dies before 310 payments have been made, a miscellaneous itemized deduction (not subject to the 2%-of-adjusted- gross-income limit) will be allowed for the unrecovered cost on her final income tax return. Income tax preparation General Rule If your annuity starting date is after November 18, 1996, you cannot use the General Rule to figure the tax-free part of your CSRS or FERS annuity. Income tax preparation If your annuity starting date is after July 1, 1986, but before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method. Income tax preparation If your annuity starting date is before July 2, 1986, you could have chosen to use the General Rule only if you could not use the Three-Year Rule. Income tax preparation Under the General Rule, you figure the tax-free part of each full monthly payment by multiplying the initial gross monthly rate of your annuity by an exclusion percentage. Income tax preparation Figuring this percentage is complex and requires the use of actuarial tables. Income tax preparation For these tables and other information about using the General Rule, see Publication 939. Income tax preparation Three-Year Rule If your annuity starting date was before July 2, 1986, you probably had to report your annuity using the Three-Year Rule. Income tax preparation Under this rule, you excluded all the annuity payments from income until you fully recovered your cost. Income tax preparation After your cost was recovered, all payments became fully taxable. Income tax preparation You cannot use another rule to again exclude amounts from income. Income tax preparation The Three-Year Rule was repealed for retirees whose annuity starting date is after July 1, 1986. Income tax preparation Worksheet A. Income tax preparation Simplified Method for Bill Smith See the instructions in Part II of this publication under Simplified Method. Income tax preparation 1. Income tax preparation Enter the total pension or annuity payments received this year. Income tax preparation Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. Income tax preparation $ 8,000 2. Income tax preparation Enter your cost in the plan at the annuity starting date, plus any death benefit exclusion*. Income tax preparation See Your cost in Part II, Rules for Retirees, earlier 2. Income tax preparation 31,000 Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). Income tax preparation Otherwise, go to line 3. Income tax preparation   3. Income tax preparation Enter the appropriate number from Table 1 below. Income tax preparation But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below. Income tax preparation 3. Income tax preparation 310 4. Income tax preparation Divide line 2 by the number on line 3 4. Income tax preparation 100 5. Income tax preparation Multiply line 4 by the number of months for which this year's payments were made. Income tax preparation If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. Income tax preparation Otherwise, go to line 6 5. Income tax preparation 800 6. Income tax preparation Enter any amounts previously recovered tax free in years after 1986. Income tax preparation This is the amount shown on line 10 of your worksheet for last year 6. Income tax preparation 0 7. Income tax preparation Subtract line 6 from line 2 7. Income tax preparation 31,000 8. Income tax preparation Enter the smaller of line 5 or line 7 8. Income tax preparation 800 9. Income tax preparation Taxable amount for year. Income tax preparation Subtract line 8 from line 1. Income tax preparation Enter the result, but not less than zero. Income tax preparation Also, add this amount to the total for Form 1040, line 16b, or Form 1040A, line 12b. Income tax preparation If you are a nonresident alien, also enter this amount on line 1 of Worksheet C. Income tax preparation If your Form CSA 1099R or Form CSF 1099R shows a larger amount, use the amount figured on this line instead. Income tax preparation If you are a retired public safety officer, see Distributions Used To Pay Insurance Premiums for Public Safety Officers in Part II before entering an amount on your tax return or Worksheet C, line 1 9. Income tax preparation $7,200 10. Income tax preparation Was your annuity starting date before 1987?   Yes. Income tax preparation Do not complete the rest of this worksheet. Income tax preparation    No. Income tax preparation Add lines 6 and 8. Income tax preparation This is the amount you have recovered tax free through 2013. Income tax preparation You will need this number if you need to fill out this worksheet next year 10. Income tax preparation 800 11. Income tax preparation Balance of cost to be recovered. Income tax preparation Subtract line 10 from line 2. Income tax preparation If zero, you will not have to complete this worksheet next year. Income tax preparation The payments you receive next year will generally be fully taxable 11. Income tax preparation $30,200 Table 1 for Line 3 Above    IF your age on your  annuity starting date was   AND your annuity starting date was—     before November 19, 1996,  THEN enter on line 3 after November 18, 1996,  THEN enter on line 3   55 or under 300 360   56–60 260 310   61–65 240 260   66–70 170 210   71 or over 120 160  Table 2 for Line 3 Above    IF the annuitants' combined ages on your annuity starting date were   THEN enter on line 3         110 or under   410         111–120   360         121–130   310         131–140   260         141 or over   210       * A death benefit exclusion of up to $5,000 applied to certain benefits received by survivors of employees who died before August 21, 1996. Income tax preparation Alternative Annuity Option If you are eligible, you may choose an alternative form of annuity. Income tax preparation If you make this choice, you will receive a lump-sum payment equal to your contributions to the plan and a reduced monthly annuity. Income tax preparation You are eligible to make this choice if you meet all of the following requirements. Income tax preparation You are retiring, but not on disability. Income tax preparation You have a life-threatening illness or other critical medical condition. Income tax preparation You do not have a former spouse entitled to court ordered benefits based on your service. Income tax preparation If you are not eligible or do not choose this alternative annuity, you can skip the following discussion and go to Federal Gift Tax , later. Income tax preparation Lump-Sum Payment The lump-sum payment you receive under the alternative annuity option generally has a tax-free part and a taxable part. Income tax preparation The tax-free part represents part of your cost. Income tax preparation The taxable part represents part of the earnings on your annuity contract. Income tax preparation Your lump-sum credit (discussed later) may include a deemed deposit or redeposit that is treated as being included in your lump-sum payment even though you do not actually receive such amounts. Income tax preparation Deemed deposits and redeposits, which are described later under Lump-sum credit , are taxable to you in the year of retirement. Income tax preparation Your taxable amount may therefore be more than the lump-sum payment you receive. Income tax preparation You must include the taxable part of the lump-sum payment in your income for the year you receive the payment unless you roll it over into another qualified plan or an IRA. Income tax preparation If you do not have OPM transfer the taxable amount to an IRA or other plan in a direct rollover, tax will be withheld at a 20% rate. Income tax preparation See Rollover Rules , later, for information on how to make a rollover. Income tax preparation OPM can make a direct rollover only up to the amount of the lump-sum payment. Income tax preparation Therefore, to defer tax on the full taxable amount if it is more than the payment, you must add funds from another source. Income tax preparation The taxable part of the lump-sum payment does not qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. Income tax preparation It also may be subject to an additional 10% tax on early distributions if you separate from service before the calendar year in which you reach age 55, even if you reach age 55 in the year you receive the lump-sum payment. Income tax preparation For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. Income tax preparation Worksheet B. Income tax preparation   Use Worksheet B. Income tax preparation Lump-Sum Payment (near the end of this publication), to figure the taxable part of your lump-sum payment. Income tax preparation Be sure to keep the completed worksheet for your records. Income tax preparation   To complete the worksheet, you will need to know the amount of your lump-sum credit and the present value of your annuity contract. Income tax preparation Lump-sum credit. Income tax preparation   Generally, this is the same amount as the lump-sum payment you receive (the total of your contributions to the retirement system). Income tax preparation However, for purposes of the alternative annuity option, your lump-sum credit also may include deemed deposits and redeposits that OPM advanced to your retirement account so that you are given credit for the service they represent. Income tax preparation Deemed deposits (including interest) are for federal employment during which no retirement contributions were taken out of your pay. Income tax preparation Deemed redeposits (including interest) are for any refunds of retirement contributions that you received and did not repay. Income tax preparation You are treated as if you had received a lump-sum payment equal to the amount of your lump-sum credit and then had made a repayment to OPM of the advanced amounts. Income tax preparation Present value of your annuity contract. Income tax preparation   The present value of your annuity contract is figured using actuarial tables provided by the IRS. Income tax preparation If you are receiving a lump-sum payment under the Alternative Annuity Option, you can write to the address below to find out the present value of your annuity contract. Income tax preparation Internal Revenue Service Attn: Actuarial Group 2 TE/GE SE:T:EP:RA:T:A2 NCA-629 1111 Constitution Ave. Income tax preparation , NW Washington, DC 20224-0002 Example. Income tax preparation David Brown retired from the federal government in 2013, one month after his 55th birthday. Income tax preparation He had contributed $31,000 to his retirement plan and chose to receive a lump-sum payment of that amount under the alternative annuity option. Income tax preparation The present value of his annuity contract was $155,000. Income tax preparation The tax-free part and the taxable part of the lump-sum payment are figured using Worksheet B, as shown below. Income tax preparation The taxable part ($24,800) is also his net cost in the plan, which is used to figure the taxable part of his reduced annuity payments. Income tax preparation See Reduced Annuity , later. Income tax preparation Worksheet B. Income tax preparation Lump-Sum Payment for David Brown See the instructions in Part II of this publication under Alternative Annuity Option . Income tax preparation  1. Income tax preparation Enter your lump-sum credit (your cost in the plan at the annuity starting date) 1. Income tax preparation $ 31,000 2. Income tax preparation Enter the present value of your annuity contract 2. Income tax preparation 155,000 3. Income tax preparation Divide line 1 by line 2 3. Income tax preparation . Income tax preparation 20 4. Income tax preparation Tax-free amount. Income tax preparation Multiply line 1 by line 3. Income tax preparation (Caution: Do not include this amount on line 6 of Worksheet A in this publication. Income tax preparation ) 4. Income tax preparation $6,200 5. Income tax preparation Taxable amount (net cost in the plan). Income tax preparation Subtract line 4 from line 1. Income tax preparation Include this amount in the total on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. Income tax preparation Also, enter this amount on line 2 of Worksheet A in this publication. Income tax preparation 5. Income tax preparation $24,800   Lump-sum payment in installments. Income tax preparation   If you choose the alternative annuity option, you usually will receive the lump-sum payment in two equal installments. Income tax preparation You will receive the first installment after you make the choice upon retirement. Income tax preparation The second installment will be paid to you, with interest, in the next calendar year. Income tax preparation (Exceptions to the installment rule are provided for cases of critical medical need. Income tax preparation )   Even though the lump-sum payment is made in installments, the overall tax treatment (explained at the beginning of this discussion) is the same as if the whole payment were paid at once. Income tax preparation If the payment has a tax-free part, you must treat the taxable part as received first. Income tax preparation How to report. Income tax preparation   Add any actual or deemed payment of your lump-sum credit (defined earlier) to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. Income tax preparation Add the taxable part to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b, unless you roll over the taxable part to your traditional IRA or a qualified retirement plan. Income tax preparation    If you receive the lump-sum payment in two installments, include any interest paid with the second installment on line 8a of either Form 1040 or Form 1040A, or on line 9a of Form 1040NR. Income tax preparation Reduced Annuity If you have chosen to receive a lump-sum payment under the alternative annuity option, you also will receive reduced monthly annuity payments. Income tax preparation These annuity payments each will have a tax-free and a taxable part. Income tax preparation To figure the tax-free part of each annuity payment, you must use the Simplified Method (Worksheet A). Income tax preparation For instructions on how to complete the worksheet, see Worksheet A under Simplified Method, earlier. Income tax preparation To complete Worksheet A, line 2, you must reduce your cost in the plan by the tax-free part of the lump-sum payment you received. Income tax preparation Enter as your net cost on line 2 the amount from Worksheet B, line 5. Income tax preparation Do not include the tax-free part of the lump-sum payment with other amounts recovered tax free (Worksheet A, line 6) when limiting your total exclusion to your total cost. Income tax preparation Example. Income tax preparation The facts are the same as in the example for David Brown in the preceding discussion. Income tax preparation In addition, David received 10 annuity payments in 2013 of $1,200 each. Income tax preparation Using Worksheet A, he figures the taxable part of his annuity payments. Income tax preparation He completes line 2 by reducing his $31,000 cost by the $6,200 tax-free part of his lump-sum payment. Income tax preparation His entry on line 2 is his $24,800 net cost in the plan (the amount from Worksheet B, line 5). Income tax preparation He does not include the tax-free part of his lump-sum payment on Worksheet A, line 6. Income tax preparation David's filled-in Worksheet A is shown on the next page. Income tax preparation Worksheet A. Income tax preparation Simplified Method for David Brown See the instructions in Part II of this publication under Simplified Method . Income tax preparation 1. Income tax preparation Enter the total pension or annuity payments received this year. Income tax preparation Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. Income tax preparation $ 12,000 2. Income tax preparation Enter your cost in the plan at the annuity starting date, plus any death benefit exclusion*. Income tax preparation See Your cost in Part II, Rules for Retirees, earlier 2. Income tax preparation 24,800 Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). Income tax preparation Otherwise, go to line 3. Income tax preparation   3. Income tax preparation Enter the appropriate number from Table 1 below. Income tax preparation But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below. Income tax preparation 3. Income tax preparation 360 4. Income tax preparation Divide line 2 by the number on line 3 4. Income tax preparation 68. Income tax preparation 89 5. Income tax preparation Multiply line 4 by the number of months for which this year's payments were made. Income tax preparation If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. Income tax preparation Otherwise, go to line 6 5. Income tax preparation 688. Income tax preparation 90 6. Income tax preparation Enter any amounts previously recovered tax free in years after 1986. Income tax preparation This is the amount shown on line 10 of your worksheet for last year 6. Income tax preparation 0 7. Income tax preparation Subtract line 6 from line 2 7. Income tax preparation 24,800 8. Income tax preparation Enter the smaller of line 5 or line 7 8. Income tax preparation 688. Income tax preparation 90 9. Income tax preparation Taxable amount for year. Income tax preparation Subtract line 8 from line 1. Income tax preparation Enter the result, but not less than zero. Income tax preparation Also, add this amount to the total for Form 1040, line 16b, or Form 1040A, line 12b. Income tax preparation If you are a nonresident alien, also enter this amount on line 1 of Worksheet C. Income tax preparation If your Form CSA 1099R or Form CSF 1099R shows a larger amount, use the amount figured on this line instead. Income tax preparation If you are a retired public safety officer, see Distributions Used To Pay Insurance Premiums for Public Safety Officers in Part II before entering an amount on your tax return or Worksheet C, line 1 9. Income tax preparation $11,311. Income tax preparation 10 10. Income tax preparation Was your annuity starting date before 1987?   Yes. Income tax preparation Do not complete the rest of this worksheet. Income tax preparation    No. Income tax preparation Add lines 6 and 8. Income tax preparation This is the amount you have recovered tax free through 2013. Income tax preparation You will need this number if you need to fill out this worksheet next year 10. Income tax preparation 688. Income tax preparation 90 11. Income tax preparation Balance of cost to be recovered. Income tax preparation Subtract line 10 from line 2. Income tax preparation If zero, you will not have to complete this worksheet next year. Income tax preparation The payments you receive next year will generally be fully taxable 11. Income tax preparation $24,111. Income tax preparation 10 Table 1 for Line 3 Above    IF your age on your annuity starting date was   AND your annuity starting date was—     before November 19, 1996,  THEN enter on line 3 after November 18, 1996,  THEN enter on line 3   55 or under 300 360   56–60 260 310   61–65 240 260   66–70 170 210   71 or over 120 160  Table 2 for Line 3 Above    IF the annuitants' combined ages on your annuity starting date were   THEN enter on line 3         110 or under   410         111–120   360         121–130   310         131–140   260         141 or over   210       * A death benefit exclusion of up to $5,000 applied to certain benefits received by survivors of employees who died before August 21, 1996. Income tax preparation Reemployment after choosing the alternative annuity option. Income tax preparation If you chose this option when you retired and then you were reemployed by the Federal Government before retiring again, your Form CSA 1099R may show only the amount of your contributions to your retirement plan during your reemployment. Income tax preparation If the amount on the form does not include all your contributions, disregard it and use your total contributions to figure the taxable part of your annuity payments. Income tax preparation Annuity starting date before November 19, 1996. Income tax preparation   If your annuity starting date is before November 19, 1996, and you chose the alternative annuity option, the taxable and tax-free parts of your lump-sum payment and your annuity payments are figured using different rules. Income tax preparation Under those rules, you do not reduce your cost in the plan (Worksheet A, line 2) by the tax-free part of the lump-sum payment. Income tax preparation However, you must include that tax-free amount with other amounts previously recovered tax free (Worksheet A, line 6) when limiting your total exclusion to your total cost. Income tax preparation Federal Gift Tax If, through the exercise or nonexercise of an election or option, you provide an annuity for your beneficiary at or after your death, you have made a gift. Income tax preparation The gift may be taxable for gift tax purposes. Income tax preparation The value of the gift is equal to the value of the annuity. Income tax preparation Joint and survivor annuity. Income tax preparation   If the gift is an interest in a joint and survivor annuity where only you and your spouse can receive payments before the death of the last spouse to die, the gift generally will qualify for the unlimited marital deduction. Income tax preparation This will eliminate any gift tax liability with regard to that gift. Income tax preparation   If you provide survivor annuity benefits for someone other than your current spouse, such as your former spouse, the unlimited marital deduction will not apply. Income tax preparation This may result in a taxable gift. Income tax preparation More information. Income tax preparation   For information about the gift tax, see Publication 950, Introduction to Estate and Gift Taxes, and Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, and its instructions. Income tax preparation Retirement During the Past Year If you have recently retired, the following discussions covering annual leave, voluntary contributions, and community property may apply to you. Income tax preparation Annual leave. Income tax preparation   A payment for accrued annual leave received on retirement is a salary payment. Income tax preparation It is taxable as wages in the tax year you receive it. Income tax preparation Voluntary contributions. Income tax preparation   Voluntary contributions to the retirement fund are those made in addition to the regular contributions that were deducted from your salary. Income tax preparation They also include the regular contributions withheld from your salary after you have the years of service necessary for the maximum annuity allowed by law. Income tax preparation Voluntary contributions are not the same as employee contributions to the Thrift Savings Plan. Income tax preparation See Thrift Savings Plan , later. Income tax preparation Additional annuity benefit. Income tax preparation   If you choose to receive an additional annuity benefit from your voluntary contributions, it is treated separately from the annuity benefit that comes from the regular contributions deducted from your salary. Income tax preparation This separate treatment applies for figuring the amounts to be excluded from, and included in, gross income. Income tax preparation It does not matter that you receive only one monthly check covering both benefits. Income tax preparation Each year you will receive a Form CSA 1099R that will show how much of your total annuity received in the past year was from each type of benefit. Income tax preparation   Figure the taxable and tax-free parts of your additional monthly benefits from voluntary contributions using the rules that apply to regular CSRS and FERS annuities, as explained earlier. Income tax preparation Refund of voluntary contributions. Income tax preparation   If you choose to receive a refund of your voluntary contributions plus accrued interest, the interest is taxable to you in the tax year it is distributed unless you roll it over to a traditional IRA or another qualified retirement plan. Income tax preparation If you do not have OPM transfer the interest to a traditional IRA or other qualified retirement plan in a direct rollover, tax will be withheld at a 20% rate. Income tax preparation See Rollover Rules , later. Income tax preparation The interest does not qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. Income tax preparation It also may be subject to an additional 10% tax on early distributions if you separate from service before the calendar year in which you reach age 55. Income tax preparation For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. Income tax preparation Community property laws. Income tax preparation   State community property laws apply to your annuity. Income tax preparation These laws will affect your income tax only if you file a return separately from your spouse. Income tax preparation   Generally, the determination of whether your annuity is separate income (taxable to you) or community income (taxable to both you and your spouse) is based on your marital status and domicile when you were working. Income tax preparation Regardless of whether you are now living in a community property state or a noncommunity property state, your current annuity may be community income if it is based on services you performed while married and domiciled in a community property state. Income tax preparation   At any time, you have only one domicile even though you may have more than one home. Income tax preparation Your domicile is your fixed and permanent legal home that you intend to use for an indefinite or unlimited period, and to which, when absent, you intend to return. Income tax preparation The question of your domicile is mainly a matter of your intentions as indicated by your actions. Income tax preparation   If your annuity is a mixture of community income and separate income, you must divide it between the two kinds of income. Income tax preparation The division is based on your periods of service and domicile in community and noncommunity property states while you were married. Income tax preparation   For more information, see Publication 555, Community Property. Income tax preparation Reemployment After Retirement If you retired from federal service and are later rehired by the Federal Government as an employee, you can continue to receive your annuity during reemployment. Income tax preparation The employing agency usually will pay you the difference between your salary for your period of reemployment and your annuity. Income tax preparation This amount is taxable as wages. Income tax preparation Your annuity will continue to be taxed just as it was before. Income tax preparation If you are still recovering your cost, you continue to do so. Income tax preparation If you have recovered your cost, the annuity you receive while you are reemployed generally is fully taxable. Income tax preparation Nonresident Aliens The following special rules apply to nonresident alien federal employees performing services outside the United States and to nonresident alien retirees and beneficiaries. Income tax preparation A nonresident alien is an individual who is not a citizen or a resident alien of the United States. Income tax preparation Special rule for figuring your total contributions. Income tax preparation   Your contributions to the retirement plan (your cost) also include the government's contributions to the plan to a certain extent. Income tax preparation You include government contributions that would not have been taxable to you at the time they were contributed if they had been paid directly to you. Income tax preparation For example, government contributions would not have been taxable to you if, at the time made, your services were performed outside the United States. Income tax preparation Thus, your cost is increased by these government contributions and the benefits that you, or your beneficiary, must include in income are reduced. Income tax preparation   This method of figuring your total contributions does not apply to any contributions the government made on your behalf after you became a citizen or a resident alien of the United States. Income tax preparation Limit on taxable amount. Income tax preparation   There is a limit on the taxable amount of payments received from the CSRS, the FERS, or the TSP by a nonresident alien retiree or nonresident alien beneficiary. Income tax preparation Figure this limited taxable amount by multiplying the otherwise taxable amount by a fraction. Income tax preparation The numerator of the fraction is the retiree's total U. Income tax preparation S. Income tax preparation Government basic pay, other than tax-exempt pay for services performed outside the United States. Income tax preparation The denominator is the retiree's total U. Income tax preparation S. Income tax preparation Government basic pay for all services. Income tax preparation    Basic pay includes regular pay plus any standby differential. Income tax preparation It does not include bonuses, overtime pay, certain retroactive pay, uniform or other allowances, or lump-sum leave payments. Income tax preparation   To figure the limited taxable amount of your CSRS or FERS annuity or your TSP distributions, use Worksheet C. Income tax preparation (For an annuity, first complete Worksheet A in this publication. Income tax preparation ) Worksheet C. Income tax preparation Limited Taxable Amount for Nonresident Alien 1. Income tax preparation Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. Income tax preparation   2. Income tax preparation Enter the total U. Income tax preparation S. Income tax preparation Government basic pay other than tax-exempt pay for services performed outside the United States 2. Income tax preparation   3. Income tax preparation Enter the total U. Income tax preparation S. Income tax preparation Government basic pay for all services 3. Income tax preparation   4. Income tax preparation Divide line 2 by line 3 4. Income tax preparation   5. Income tax preparation Limited taxable amount. Income tax preparation Multiply line 1 by line 4. Income tax preparation Enter this amount on Form 1040NR, line 17b 5. Income tax preparation   Example 1. Income tax preparation You are a nonresident alien who performed all services for the U. Income tax preparation S. Income tax preparation Government abroad as a nonresident alien. Income tax preparation You retired and began to receive a monthly annuity of $200. Income tax preparation Your total basic pay for all services for the U. Income tax preparation S. Income tax preparation Government was $100,000. Income tax preparation All of your basic pay was tax exempt because it was not U. Income tax preparation S. Income tax preparation source income. Income tax preparation The taxable amount of your annuity using Worksheet A in this publication is $720. Income tax preparation You are a nonresident alien, so you figure the limited taxable amount of your annuity using Worksheet C as follows. Income tax preparation Worksheet C. Income tax preparation Limited Taxable Amount for Nonresident Alien — Example 1 1. Income tax preparation Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. Income tax preparation $ 720 2. Income tax preparation Enter the total U. Income tax preparation S. Income tax preparation Government basic pay other than tax-exempt pay for services performed outside the United States 2. Income tax preparation 0 3. Income tax preparation Enter the total U. Income tax preparation S. Income tax preparation Government basic pay for all services 3. Income tax preparation 100,000 4. Income tax preparation Divide line 2 by line 3 4. Income tax preparation 0 5. Income tax preparation Limited taxable amount. Income tax preparation Multiply line 1 by line 4. Income tax preparation Enter this amount on Form 1040NR, line 17b 5. Income tax preparation 0 Example 2. Income tax preparation You are a nonresident alien who performed services for the U. Income tax preparation S. Income tax preparation Government as a nonresident alien both within the United States and abroad. Income tax preparation You retired and began to receive a monthly annuity of $240. Income tax preparation Your total basic pay for your services for the U. Income tax preparation S. Income tax preparation Government was $120,000; $40,000 was for work done in the United States and $80,000 was for your work done in a foreign country. Income tax preparation The part of your total basic pay for your work done in a foreign country was tax exempt because it was not U. Income tax preparation S. Income tax preparation source income. Income tax preparation The taxable amount of your annuity figured using Worksheet A in this publication is $1,980. Income tax preparation You are a nonresident alien, so you figure the limited taxable amount of your annuity using Worksheet C as follows. Income tax preparation Worksheet C. Income tax preparation Limited Taxable Amount for Nonresident Alien — Example 2 1. Income tax preparation Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. Income tax preparation $ 1,980 2. Income tax preparation Enter the total U. Income tax preparation S. Income tax preparation Government basic pay other than tax-exempt pay for services performed outside the United States 2. Income tax preparation 40,000 3. Income tax preparation Enter the total U. Income tax preparation S. Income tax preparation Government basic pay for all services 3. Income tax preparation 120,000 4. Income tax preparation Divide line 2 by line 3 4. Income tax preparation . Income tax preparation 333 5. Income tax preparation Limited taxable amount. Income tax preparation Multiply line 1 by line 4. Income tax preparation Enter this amount on Form 1040NR, line 17b 5. Income tax preparation 659 Thrift Savings Plan Generally, all of the money in your TSP account is taxed as ordinary income when you receive it. Income tax preparation (However, see Roth TSP balance and Uniformed services TSP accounts, next. Income tax preparation ) This is because neither the contributions to your traditional TSP balance nor its earnings have been included previously in your taxable income. Income tax preparation The way that you withdraw your account balance determines when you must pay the tax. Income tax preparation Roth TSP balance. Income tax preparation   The TSP also offers a Roth TSP option, which allows you to make after-tax contributions into your TSP account. Income tax preparation This means Roth TSP contributions are included in your income. Income tax preparation The contribution limits are the same as the traditional TSP. Income tax preparation You can elect to have part or all of your TSP contributions designated as a Roth TSP. Income tax preparation Agency contributions will be part of your traditional TSP balance. Income tax preparation Also, you cannot roll over any portion of your traditional TSP into your Roth TSP. Income tax preparation   Qualified distributions from your Roth TSP are not included in income. Income tax preparation This applies to both your cost in the account and income earned on that account. Income tax preparation A qualified distribution is generally a distribution that is: Made after a 5-tax-year period of participation, and Made on or after the date you reach age 59½, made to a beneficiary or your estate on or after your death, or attributable to your being disabled. Income tax preparation   For more information, go to the TSP website, www. Income tax preparation tsp. Income tax preparation gov, or the TSP Service Office. Income tax preparation See Publication 575, Pension and Annuity Income, for more information about designated Roth accounts. Income tax preparation Uniformed services TSP accounts. Income tax preparation   If you have a uniformed services TSP account that includes contributions from combat zone pay, the distributions attributable to those contributions are tax exempt. Income tax preparation However, any earnings on those contributions to a traditional TSP balance are subject to tax when they are distributed. Income tax preparation See Roth TSP balance discussed previously to get more information about Roth contributions. Income tax preparation The statement you receive from the TSP will separately state the total amount of your distribution and the amount of your taxable distribution for the year. Income tax preparation You can get more information from the TSP website, www. Income tax preparation tsp. Income tax preparation gov, or the TSP Service Office. Income tax preparation Direct rollover by the TSP. Income tax preparation   If you ask the TSP to transfer any part of the money in your account, from traditional contributions and its earnings, to a traditional IRA or other qualified retirement plan, the tax on that part is deferred until you receive payments from the traditional IRA or other plan. Income tax preparation However, see the following Note for a discussion on direct rollovers by the TSP of Roth contributions and its earnings. Income tax preparation Also, see Rollover Rules , later. Income tax preparation Direct rollover by the TSP to a Roth IRA. Income tax preparation   If you ask the TSP to transfer any part of the money in your account, from traditional contributions and its earnings, to a Roth IRA, the amount transferred will be taxed in the current year. Income tax preparation However, see the following Note for a discussion on direct rollovers by the TSP of Roth contributions and its earnings. Income tax preparation Also, see Rollovers to Roth IRAs for more information, later. Income tax preparation Note. Income tax preparation A direct rollover of your Roth contributions and its earnings (if certain conditions are met, see Roth TSP balance , earlier) in your TSP account to a Roth 401(k), Roth 403(b), Roth 457(b), or Roth IRA are not subject to tax when they are transferred or when you receive payments from those accounts at a later date. Income tax preparation This is because you already paid tax on those contributions. Income tax preparation You cannot rollover Roth contributions and its earnings in your TSP account to a traditional IRA. Income tax preparation TSP annuity. Income tax preparation   If you ask the TSP to buy an annuity with the money in your account, from traditional contributions and its earnings, the annuity payments are taxed when you receive them. Income tax preparation The payments are not subject to the additional 10% tax on early distributions, even if you are under age 55 when they begin. Income tax preparation However, there is no tax on the annuity payments if the annuity is purchased using the money in your account from Roth contributions and its earnings if certain conditions are met. Income tax preparation See Roth TSP balance , earlier. Income tax preparation This is because you already paid tax on those contributions. Income tax preparation Cash withdrawals. Income tax preparation   If you withdraw any of the money in your TSP account, from traditional contributions and its earnings, it is generally taxed as ordinary income when you receive it unless you roll it over into a traditional IRA or other qualified plan. Income tax preparation (See Rollover Rules , later. Income tax preparation ) If you receive your entire TSP account balance in a single tax year, you may be able to use the 10-year tax option to figure your tax. Income tax preparation See Lump-Sum Distributions in Publication 575 for details. Income tax preparation However, there is no tax if you withdraw money in your TSP account from Roth contributions and its earnings if certain conditions are met. Income tax preparation See Roth TSP balance , earlier. Income tax preparation    To qualify for the 10-year tax option, the plan participant must have been born before January 2, 1936. Income tax preparation   If you receive a single payment or you choose to receive your account balance in monthly payments over a period of less than 10 years, the TSP generally must withhold 20% for federal income tax. Income tax preparation If you choose to receive your account balance in monthly payments over a period of 10 or more years or a period based on your life expectancy, the payments are subject to withholding as if you are married with three withholding allowances, unless you submit a withholding certificate. Income tax preparation See also Withholding from Thrift Savings Plan payments earlier under Tax Withholding and Estimated Tax in Part I. Income tax preparation However, there is no withholding requirement for amounts withdrawn from your TSP account that is from Roth contributions and its earnings, if certain conditions are met. Income tax preparation See Roth TSP balance , earlier, for a discussion of those conditions. Income tax preparation Tax on early distributions. Income tax preparation   Any money paid to you from your TSP account before you reach age 59½ may be subject to an additional 10% tax on early distributions. Income tax preparation However, this additional tax does not apply in certain situations, including any of the following. Income tax preparation You receive the distribution and separate from government service during or after the calendar year in which you reach age 55. Income tax preparation You choose to receive your account balance in monthly payments based on your life expectancy. Income tax preparation You are totally and permanently disabled. Income tax preparation You receive amounts from your Roth contributions since that represents a return of your cost (after-tax money). Income tax preparation The earnings may be subject to the 10% tax depending on whether you met certain conditions. Income tax preparation See Roth TSP balance , earlier. Income tax preparation   For more information, see Tax on Early Distributions in Publication 575. Income tax preparation Outstanding loan. Income tax preparation   If the TSP declares a distribution from your account because money you borrowed has not been repaid when you separate from government service, your account is reduced and the amount of the distribution (your unpaid loan balance and any unpaid interest), from traditional contributions and its earnings, is taxed in the year declared. Income tax preparation The distribution also may be subject to the additional 10% tax on early distributions. Income tax preparation However, the tax will be deferred if you make a rollover contribution to a traditional IRA or other qualified plan equal to the declared distribution amount. Income tax preparation See Rollover Rules , later. Income tax preparation   If you withdraw any money from your TSP account in that same year, the TSP must withhold income tax of 20% of the total of the declared distribution and the amount withdrawn. Income tax preparation However, no withholding is required for portions of the distribution that is from Roth contributions and its earnings, if certain conditions are met. Income tax preparation See Roth TSP balance , earlier. Income tax preparation More information. Income tax preparation   For more information about the TSP, see Summary of the Thrift Savings Plan, distributed to all federal employees. Income tax preparation Also, see Important Tax Information About Payments From Your TSP Account and Special Tax Withholding Rules for Thrift Savings Plan Payments to Nonresident Aliens, which are available from your agency personnel office or from the TSP by calling 1-TSP-YOU-FIRST (1-877-968-3778) and for participants who are deaf, hard of hearing, or have a speech disability, call 1-TSP-THRIFT5 (1-877-847-4385). Income tax preparation    The above documents are also available on the TSP website at www. Income tax preparation tsp. Income tax preparation gov. Income tax preparation Select “Forms & Publications. Income tax preparation ” Rollover Rules Generally, a rollover is a tax-free withdrawal of cash or other assets from one qualified retirement plan or traditional IRA and its reinvestment in another qualified retirement plan or traditional IRA. Income tax preparation You do not include the amount rolled over in your income, and you cannot take a deduction for it. Income tax preparation The amount rolled over is taxed later as the new program pays that amount to you. Income tax preparation If you roll over amounts into a traditional IRA, later distributions of these amounts from the traditional IRA do not qualify for the capital gain or the 10-year tax option. Income tax preparation However, capital gain treatment or the 10-year tax option will be restored if the traditional IRA contains only amounts rolled over from a qualified plan and these amounts are rolled over from the traditional IRA into a qualified retirement plan. Income tax preparation To qualify for the capital gain treatment or 10-year tax option, the plan participant must have been born before January 2, 1936. Income tax preparation You can also roll over a distribution from a qualified retirement plan into a Roth IRA. Income tax preparation Although the transfer of a distribution into a Roth IRA is considered a rollover for Roth IRA purposes, it is not a tax-free transfer unless you are rolling over amounts from Roth contributions and its earnings. Income tax preparation See Rollovers to Roth IRAs , later, for more information. Income tax preparation Qualified retirement plan. Income tax preparation   For this purpose, a qualified retirement plan generally is: A qualified employee plan, A qualified employee annuity, A tax-sheltered annuity plan (403(b) plan), or An eligible state or local government section 457 deferred compensation plan. Income tax preparation The CSRS, FERS, and TSP are considered qualified retirement plans. Income tax preparation Distributions eligible for rollover treatment. Income tax preparation   If you receive a refund of your CSRS or FERS contributions when you leave government service, you can roll over any interest you receive on the contributions. Income tax preparation You cannot roll over any part of your CSRS or FERS annuity payments. Income tax preparation   You can roll over a distribution of any part of your TSP account balance except: A distribution of your account balance that you choose to receive in monthly payments over: Your life expectancy, The joint life expectancies of you and your beneficiary, or A period of 10 years or more, A required minimum distribution generally beginning at age 70½, A declared distribution because of an unrepaid loan, if you have not separated from government service (see Outstanding loan under Thrift Savings Plan, earlier), or A hardship distribution. Income tax preparation   In addition, a distribution to your beneficiary generally is not treated as an eligible rollover distribution. Income tax preparation However, see Qualified domestic relations order (QDRO) and Rollovers by surviving spouse , and Rollovers by nonspouse beneficiary , later. Income tax preparation Direct rollover option. Income tax preparation   You can choose to have the OPM or TSP transfer any part of an eligible rollover distribution directly to another qualified retirement plan that accepts rollover distributions or to a traditional IRA or Roth IRA. Income tax preparation   There is an automatic rollover requirement for mandatory distributions. Income tax preparation A mandatory distribution is a distribution made without your consent and before you reach age 62 or normal retirement age, whichever is later. Income tax preparation The automatic rollover requirement applies if the distribution is more than $1,000 and is an eligible rollover distribution. Income tax preparation You can choose to have the distribution paid directly to you or rolled over directly to your traditional or Roth IRA or another qualified retirement plan. Income tax preparation If you do not make this choice, OPM will automatically roll over the distribution into an IRA of a designated trustee or issuer. Income tax preparation No tax withheld. Income tax preparation   If you choose the direct rollover option or have an automatic rollover, no tax will be withheld from any part of the distribution that is directly paid to the trustee of the other plan. Income tax preparation However, if the rollover is to a Roth IRA, you may want to choose to have tax withheld since any amount rolled over is generally included in income. Income tax preparation Any part of the eligible rollover distribution paid to you is subject to withholding at a 20% rate. Income tax preparation Direct roll over amounts from Roth contributions and its earnings do not have tax withheld because you already paid tax on those amounts. Income tax preparation Payment to you option. Income tax preparation   If an eligible rollover distribution is paid to you, the OPM or TSP must withhold 20% for income tax even if you plan to roll over the distribution to another qualified retirement plan, traditional or Roth IRA. Income tax preparation However, the full amount is treated as distributed to you even though you actually receive only 80%. Income tax preparation You generally must include in income any part (including the part withheld) that you do not roll over within 60 days to another qualified retirement plan or to a traditional IRA. Income tax preparation Rollovers to Roth IRAs are generally included in income. Income tax preparation Eligible rollover distributions that are from Roth contributions do not have tax withheld because you already paid tax on those amounts. Income tax preparation If you leave government service before the calendar year in which you reach age 55 and are under age 59½ when a distribution is paid to you, you may have to pay an additional 10% tax on any part, including any tax withheld, that you do not roll over. Income tax preparation However, distributions from Roth contributions will not be subject to the 10% additional tax because it is a return of your cost (after-tax money). Income tax preparation Earnings from those contributions may be subject to the 10% additional tax if certain conditions are not met. Income tax preparation See Roth TSP balance , earlier. Income tax preparation Also, see Tax on Early Distributions in Publication 575. Income tax preparation Exception to withholding. Income tax preparation   Withholding from an eligible rollover distribution paid to you is not required if the distributions for your tax year total less than $200. Income tax preparation Partial rollovers. Income tax preparation   A lump-sum distribution may qualify for capital gain treatment or the 10-year tax option if the plan participant was born before January 2, 1936. Income tax preparation See Lump-Sum Distributions in Publication 575. Income tax preparation However, if you roll over any part of the distribution, the part you keep does not qualify for this special tax treatment. Income tax preparation Rolling over more than amount received. Income tax preparation   If you want to roll over more of an eligible rollover distribution than the amount you received after income tax was withheld, you will have to add funds from some other source (such as your savings or borrowed amounts). Income tax preparation Example. Income tax preparation You left government service at age 53. Income tax preparation On February 1, 2013, you receive an eligible rollover distribution of $10,000 from you
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

New Hampshire Office of the Attorney General

Website: New Hampshire Office of the Attorney General

Address: New Hampshire Office of the Attorney General
Consumer Protection and Antitrust Bureau
33 Capitol St.
Concord, NH 03301

Phone Number: 603-271-3641

Toll-free: 1-888-468-4454 (Consumer Protection Hotline)

TTY: 1-800-735-2964 (NH)

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

State Banking Department

Website: State Banking Department

Address: State Banking Department
53 Regional Dr., Suite 200
Concord, NH 03301

Phone Number: 603-271-3561

Toll-free: 1-800-437-5991

TTY: 1-800-735-2964

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Insurance Department

Website: Insurance Department

Address: Insurance Department
21 S. Fruit St., Suite 14
Concord, NH 03301

Phone Number: 603-271-2261

Toll-free: 1-800-852-3416 (NH)

TTY: 1-800-735-2964 (NH)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Secretary of State

Website: Secretary of State

Address: Secretary of State
Bureau of Securities Regulation
107 N. Main St., #204
Concord, NH 03301

Phone Number: 603-271-1463

Toll-free: 1-800-994-4200

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Utilities Commission

Website: Public Utilities Commission

Address: Public Utilities Commission
Consumer Affairs Division
21 S. Fruit St., Suite 10
Concord, NH 03301-2429

Phone Number: 603-271-2431

Toll-free: 1-800-852-3793 (NH)

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The Income Tax Preparation

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