Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

Instructions For 1040ez Federal Tax Form

2010 Federal Income Tax FormsEfile State Tax ReturnE File 2009 Taxes FreeHow To File 2011 TaxesHow To Refile TaxesEz Tax Form OnlineSoftware For 1040nrH R Block 1040xTurbotax Login OnlineTax Filing Sites Federal California State Tax ReturnsWebsite Efile Past Year Tax Returns2010 Form 1040aHow Do I File An Amendment To My Tax ReturnIrs Gov Forms1040xTurbo Tax Free File1040 EzFile 2011 State Taxes Online FreeIrs Amended ReturnState Income TaxState Tax Return FreeEfile Taxes FreeFederal And State Tax FormsHand R Block ComTax Forms OnlineFree File Federal And State TaxesCan I Electronic File My 1040xFile Taxes Past Years1040x Form 2013How Do I Do My 2012 Taxes1040ez FilingTax 20102012 Federal Income Tax FormsHrblock FreefileFree Tax ServicesWhere Can I File My 2011 Taxes For FreeWww Hnrblock Com1040x Amended Return 2012Ez 1040 Tax FormFile State For FreeTaxact 2011 Free Edition

Instructions For 1040ez Federal Tax Form

Instructions for 1040ez federal tax form Publication 939 - Additional Material Prev  Up  Next   Home   More Online Publications
Print - Click this link to Print this page

Contact My Local Office in Massachusetts

Face-to-face Tax Help

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

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

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

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

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

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

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

 City Street Address  Days/Hours of Service  Telephone* 
Boston  JFK Federal Building
15 New Sudbury St.
Boston, MA  02203 

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


Services Provided

(617) 316-2850 
Brockton  120 Liberty St.
Brockton, MA 02301 

Monday - Friday - 8:30 a.m.- 4:30 p.m.
**(Closed for lunch 1:00 p.m. – 2:00 p.m. from 1/2 - 4/15)** 
 

Services Provided

(508) 586-4671 
Fitchburg  881 Main St.
Fitchburg, MA 01420 

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

 

Services Provided

(978) 342-0016
Hyannis  75 Perseverance Way
Hyannis, MA 02601 

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

 

Services Provided

(508) 775-0029 
Pittsfield  78 Center St.
Pittsfield, MA 01201 

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

 

Services Provided

(413) 499-1573 
Springfield  1550 Main St.
Springfield, MA 01103 

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

Services Provided

(413) 788-0284 
Stoneham  1 Montvale Ave.
Stoneham, MA 02180 

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

 

Services Provided

(781) 835-4350 
Worcester  120 Front St.
Worcester, MA 01608 

Monday-Friday - 8:30 a.m.- 4:30 p.m.

 

 Services Provided

(508) 793-8227 

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

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

The Taxpayer Advocate Service: Call (617) 316-2690 in Boston or 1-877-777-4778 elsewhere, or see Publication 1546, The Taxpayer Advocate Service of the IRS. For further information, see Tax Topic 104.

Partnerships

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

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

Internal Revenue Service
25 New Sudbury St. Stop 20826
Boston, MA 02203

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

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

Page Last Reviewed or Updated: 28-Mar-2014

The Instructions For 1040ez Federal Tax Form

Instructions for 1040ez federal tax form 16. Instructions for 1040ez federal tax form   Reporting Gains and Losses Table of Contents What's New Introduction Useful Items - You may want to see: Reporting Capital Gains and Losses Exception 1. Instructions for 1040ez federal tax form Exception 2. Instructions for 1040ez federal tax form File Form 1099-B or Form 1099-S with the IRS. Instructions for 1040ez federal tax form Capital Losses Capital Gain Tax Rates What's New Maximum capital gain rates. Instructions for 1040ez federal tax form . Instructions for 1040ez federal tax form  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. Instructions for 1040ez federal tax form Introduction This chapter discusses how to report capital gains and losses from sales, exchanges, and other dispositions of investment property on Form 8949 and Schedule D (Form 1040). Instructions for 1040ez federal tax form The discussion includes the following topics. Instructions for 1040ez federal tax form How to report short-term gains and losses. Instructions for 1040ez federal tax form How to report long-term gains and losses. Instructions for 1040ez federal tax form How to figure capital loss carryovers. Instructions for 1040ez federal tax form How to figure your tax on a net capital gain. Instructions for 1040ez federal tax form If you sell or otherwise dispose of property used in a trade or business or for the production of income, see Publication 544, Sales and Other Dispositions of Assets, before completing Schedule D (Form 1040). Instructions for 1040ez federal tax form Useful Items - You may want to see: Publication 537 Installment Sales 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses Form (and Instructions) 4797 Sales of Business Property 6252 Installment Sale Income 8582 Passive Activity Loss Limitations 8949 Sales and Other Dispositions of Capital Assets Schedule D (Form 1040) Capital Gains and Losses Reporting Capital Gains and Losses Generally, report capital gains and losses on Form 8949. Instructions for 1040ez federal tax form Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D (Form 1040). Instructions for 1040ez federal tax form Use Form 8949 to report: The sale or exchange of a capital asset not reported on another form or schedule; Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit; and Nonbusiness bad debts. Instructions for 1040ez federal tax form Use Schedule D (Form 1040): To figure the overall gain or loss from transactions reported on Form 8949; To report a gain from Form 6252 or Part I of Form 4797; To report a gain or loss from Form 4684, 6781, or 8824; To report capital gain distributions not reported directly on Form 1040 or Form 1040A; To report a capital loss carryover from the previous tax year to the current tax year; To report your share of a gain or (loss) from a partnership, S corporation, estate, or trust; To report transactions reported to you on a Form 1099-B (or substitute statement) showing basis was reported to the IRS and to which none of the Form 8949 adjustments or codes apply; and To report undistributed long-term capital gains from Form 2439. Instructions for 1040ez federal tax form On Form 8949, enter all sales and exchanges of capital assets, including stocks, bonds, etc. Instructions for 1040ez federal tax form , and real estate (if not reported on Form 4684, 4797, 6252, 6781, 8824, or line 1a or 8a of Schedule D). Instructions for 1040ez federal tax form Include these transactions even if you did not receive a Form 1099-B or 1099-S (or substitute statement) for the transaction. Instructions for 1040ez federal tax form Report short-term gains or losses in Part I. Instructions for 1040ez federal tax form Report long-term gains or losses in Part II. Instructions for 1040ez federal tax form Use as many Forms 8949 as you need. Instructions for 1040ez federal tax form Exceptions to filing Form 8949 and Schedule D (Form 1040). Instructions for 1040ez federal tax form   There are certain situations where you may not have to file Form 8949 and/or Schedule D (Form 1040). Instructions for 1040ez federal tax form Exception 1. Instructions for 1040ez federal tax form   You do not have to file Form 8949 or Schedule D (Form 1040) if you have no capital losses and your only capital gains are capital gain distributions from Form(s) 1099-DIV, box 2a (or substitute statements). Instructions for 1040ez federal tax form (If any Form(s) 1099-DIV (or substitute statements) you receive have an amount in box 2b (unrecaptured section 1250 gain), box 2c (section 1202 gain), or box 2d (collectibles (28%) gain), you do not qualify for this exception. Instructions for 1040ez federal tax form ) If you qualify for this exception, report your capital gain distributions directly on line 13 of Form 1040 (and check the box on line 13). Instructions for 1040ez federal tax form Also use the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 instructions to figure your tax. Instructions for 1040ez federal tax form You can report your capital gain distributions on line 10 of Form 1040A, instead of on Form 1040, if none of the Forms 1099-DIV (or substitute statements) you received have an amount in box 2b, 2c, or 2d, and you do not have to file Form 1040. Instructions for 1040ez federal tax form Exception 2. Instructions for 1040ez federal tax form   You must file Schedule D (Form 1040), but generally do not have to file Form 8949, if Exception 1 does not apply and your only capital gains and losses are: Capital gain distributions; A capital loss carryover; A gain from Form 2439 or 6252 or Part I of Form 4797; A gain or loss from Form 4684, 6781, or 8824; A gain or loss from a partnership, S corporation, estate, or trust; or Gains and losses from transactions for which you received a Form 1099-B (or substitute statement) that shows the basis was reported to the IRS and for which you do not need to make any adjustments in column (g) of Form 8949 or enter any codes in column (f) of Form 8949. Instructions for 1040ez federal tax form Installment sales. Instructions for 1040ez federal tax form   You cannot use the installment method to report a gain from the sale of stock or securities traded on an established securities market. Instructions for 1040ez federal tax form You must report the entire gain in the year of sale (the year in which the trade date occurs). Instructions for 1040ez federal tax form Passive activity gains and losses. Instructions for 1040ez federal tax form    If you have gains or losses from a passive activity, you may also have to report them on Form 8582. Instructions for 1040ez federal tax form In some cases, the loss may be limited under the passive activity rules. Instructions for 1040ez federal tax form Refer to Form 8582 and its instructions for more information about reporting capital gains and losses from a passive activity. Instructions for 1040ez federal tax form Form 1099-B transactions. Instructions for 1040ez federal tax form   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B or substitute statement from the broker. Instructions for 1040ez federal tax form Use the Form 1099-B or the substitute statement to complete Form 8949. Instructions for 1040ez federal tax form If you sold a covered security in 2013, your broker should send you a Form 1099-B (or substitute statement) that shows your basis. Instructions for 1040ez federal tax form This will help you complete Form 8949. Instructions for 1040ez federal tax form Generally, a covered security is a security you acquired after 2010. Instructions for 1040ez federal tax form   Report the gross proceeds shown in box 2a of Form 1099-B as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. Instructions for 1040ez federal tax form However, if the broker advises you, in box 2a of Form 1099-B, that gross proceeds (sales price) less commissions and option premiums were reported to the IRS, enter that net sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. Instructions for 1040ez federal tax form    Include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). Instructions for 1040ez federal tax form If you include an expense of sale in column (g), enter “E” in column (f). Instructions for 1040ez federal tax form Form 1099-CAP transactions. Instructions for 1040ez federal tax form   If a corporation in which you own stock has had a change in control or a substantial change in capital structure, you should receive Form 1099-CAP or a substitute statement from the corporation. Instructions for 1040ez federal tax form Use the Form 1099-CAP or substitute statement to fill in Form 8949. Instructions for 1040ez federal tax form If your computations show that you would have a loss because of the change, do not enter any amounts on Form 8949 or Schedule D (Form 1040). Instructions for 1040ez federal tax form You cannot claim a loss on Schedule D (Form 1040) as a result of this transaction. Instructions for 1040ez federal tax form   Report the aggregate amount received shown in box 2 of Form 1099-CAP as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. Instructions for 1040ez federal tax form Form 1099-S transactions. Instructions for 1040ez federal tax form   If you sold or traded reportable real estate, you generally should receive from the real estate reporting person a Form 1099-S showing the gross proceeds. Instructions for 1040ez federal tax form    “Reportable real estate” is defined as any present or future ownership interest in any of the following: Improved or unimproved land, including air space; Inherently permanent structures, including any residential, commercial, or industrial building; A condominium unit and its accessory fixtures and common elements, including land; and Stock in a cooperative housing corporation (as defined in section 216 of the Internal Revenue Code). Instructions for 1040ez federal tax form   A “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. Instructions for 1040ez federal tax form   Your Form 1099-S will show the gross proceeds from the sale or exchange in box 2. Instructions for 1040ez federal tax form See the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040) for how to report these transactions and include them in Part I or Part II of Form 8949 as appropriate. Instructions for 1040ez federal tax form However, report like-kind exchanges on Form 8824 instead. Instructions for 1040ez federal tax form   It is unlawful for any real estate reporting person to separately charge you for complying with the requirement to file Form 1099-S. Instructions for 1040ez federal tax form Nominees. Instructions for 1040ez federal tax form   If you receive gross proceeds as a nominee (that is, the gross proceeds are in your name but actually belong to someone else), see the Instructions for Form 8949 for how to report these amounts on Form 8949. Instructions for 1040ez federal tax form File Form 1099-B or Form 1099-S with the IRS. Instructions for 1040ez federal tax form   If you received gross proceeds as a nominee in 2013, you must file a Form 1099-B or Form 1099-S for those proceeds with the IRS. Instructions for 1040ez federal tax form Send the Form 1099-B or Form 1099-S with a Form 1096, Annual Summary and Transmittal of U. Instructions for 1040ez federal tax form S. Instructions for 1040ez federal tax form Information Returns, to your Internal Revenue Service Center by February 28, 2014 (March 31, 2014, if you file Form 1099-B or Form 1099-S electronically). Instructions for 1040ez federal tax form Give the actual owner of the proceeds Copy B of the Form 1099-B or Form 1099-S by February 18, 2014. Instructions for 1040ez federal tax form On Form 1099-B, you should be listed as the “Payer. Instructions for 1040ez federal tax form ” The other owner should be listed as the “Recipient. Instructions for 1040ez federal tax form ” On Form 1099-S, you should be listed as the “Filer. Instructions for 1040ez federal tax form ” The other owner should be listed as the “Transferor. Instructions for 1040ez federal tax form ” You do not have to file a Form 1099-B or Form 1099-S to show proceeds for your spouse. Instructions for 1040ez federal tax form For more information about the reporting requirements and the penalties for failure to file (or furnish) certain information returns, see the General Instructions for Certain Information Returns. Instructions for 1040ez federal tax form If you are filing electronically see Publication 1220. Instructions for 1040ez federal tax form Sale of property bought at various times. Instructions for 1040ez federal tax form   If you sell a block of stock or other property that you bought at various times, report the short-term gain or loss from the sale on one row in Part I of Form 8949, and the long-term gain or loss on one row in Part II of Form 8949. Instructions for 1040ez federal tax form Write “Various” in column (b) for the “Date acquired. Instructions for 1040ez federal tax form ” Sale expenses. Instructions for 1040ez federal tax form    On Form 8949, include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). Instructions for 1040ez federal tax form If you include an expense of sale in column (g), enter “E” in column (f). Instructions for 1040ez federal tax form   For more information about adjustments to basis, see chapter 13. Instructions for 1040ez federal tax form Short-term gains and losses. Instructions for 1040ez federal tax form   Capital gain or loss on the sale or trade of investment property held 1 year or less is a short-term capital gain or loss. Instructions for 1040ez federal tax form You report it in Part I of Form 8949. Instructions for 1040ez federal tax form   You combine your share of short-term capital gain or loss from partnerships, S corporations, estates, and trusts, and any short-term capital loss carryover, with your other short-term capital gains and losses to figure your net short-term capital gain or loss on line 7 of Schedule D (Form 1040). Instructions for 1040ez federal tax form Long-term gains and losses. Instructions for 1040ez federal tax form    A capital gain or loss on the sale or trade of investment property held more than 1 year is a long-term capital gain or loss. Instructions for 1040ez federal tax form You report it in Part II of Form 8949. Instructions for 1040ez federal tax form   You report the following in Part II of Schedule D (Form 1040): Undistributed long-term capital gains from a mutual fund (or other regulated investment company) or real estate investment trust (REIT); Your share of long-term capital gains or losses from partnerships, S corporations, estates, and trusts; All capital gain distributions from mutual funds and REITs not reported directly on line 10 of Form 1040A or line 13 of Form 1040; and Long-term capital loss carryovers. Instructions for 1040ez federal tax form    The result after combining these items with your other long-term capital gains and losses is your net long-term capital gain or loss (Schedule D (Form 1040), line 15). Instructions for 1040ez federal tax form Total net gain or loss. Instructions for 1040ez federal tax form   To figure your total net gain or loss, combine your net short-term capital gain or loss (Schedule D (Form 1040), line 7) with your net long-term capital gain or loss (Schedule D (Form 1040), line 15). Instructions for 1040ez federal tax form Enter the result on Schedule D (Form 1040), Part III, line 16. Instructions for 1040ez federal tax form If your losses are more than your gains, see Capital Losses , next. Instructions for 1040ez federal tax form If both lines 15 and 16 of your Schedule D (Form 1040) are gains and your taxable income on your Form 1040 is more than zero, see Capital Gain Tax Rates , later. Instructions for 1040ez federal tax form Capital Losses If your capital losses are more than your capital gains, you can claim a capital loss deduction. Instructions for 1040ez federal tax form Report the amount of the deduction on line 13 of Form 1040, in parentheses. Instructions for 1040ez federal tax form Limit on deduction. Instructions for 1040ez federal tax form   Your allowable capital loss deduction, figured on Schedule D (Form 1040), is the lesser of: $3,000 ($1,500 if you are married and file a separate return); or Your total net loss as shown on line 16 of Schedule D (Form 1040). Instructions for 1040ez federal tax form   You can use your total net loss to reduce your income dollar for dollar, up to the $3,000 limit. Instructions for 1040ez federal tax form Capital loss carryover. Instructions for 1040ez federal tax form   If you have a total net loss on line 16 of Schedule D (Form 1040) that is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you had incurred it in that next year. Instructions for 1040ez federal tax form If part of the loss is still unused, you can carry it over to later years until it is completely used up. Instructions for 1040ez federal tax form   When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. Instructions for 1040ez federal tax form   When you carry over a loss, it remains long term or short term. Instructions for 1040ez federal tax form A long-term capital loss you carry over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains. Instructions for 1040ez federal tax form Figuring your carryover. Instructions for 1040ez federal tax form   The amount of your capital loss carryover is the amount of your total net loss that is more than the lesser of: Your allowable capital loss deduction for the year; or Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions. Instructions for 1040ez federal tax form   If your deductions are more than your gross income for the tax year, use your negative taxable income in computing the amount in item (2). Instructions for 1040ez federal tax form    Complete the Capital Loss Carryover Worksheet in the Instructions for Schedule D or Publication 550 to determine the part of your capital loss that you can carry over. Instructions for 1040ez federal tax form Example. Instructions for 1040ez federal tax form Bob and Gloria sold securities in 2013. Instructions for 1040ez federal tax form The sales resulted in a capital loss of $7,000. Instructions for 1040ez federal tax form They had no other capital transactions. Instructions for 1040ez federal tax form Their taxable income was $26,000. Instructions for 1040ez federal tax form On their joint 2013 return, they can deduct $3,000. Instructions for 1040ez federal tax form The unused part of the loss, $4,000 ($7,000 − $3,000), can be carried over to 2014. Instructions for 1040ez federal tax form If their capital loss had been $2,000, their capital loss deduction would have been $2,000. Instructions for 1040ez federal tax form They would have no carryover. Instructions for 1040ez federal tax form Use short-term losses first. Instructions for 1040ez federal tax form   When you figure your capital loss carryover, use your short-term capital losses first, even if you incurred them after a long-term capital loss. Instructions for 1040ez federal tax form If you have not reached the limit on the capital loss deduction after using the short-term capital losses, use the long-term capital losses until you reach the limit. Instructions for 1040ez federal tax form Decedent's capital loss. Instructions for 1040ez federal tax form    A capital loss sustained by a decedent during his or her last tax year (or carried over to that year from an earlier year) can be deducted only on the final income tax return filed for the decedent. Instructions for 1040ez federal tax form The capital loss limits discussed earlier still apply in this situation. Instructions for 1040ez federal tax form The decedent's estate cannot deduct any of the loss or carry it over to following years. Instructions for 1040ez federal tax form Joint and separate returns. Instructions for 1040ez federal tax form   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. Instructions for 1040ez federal tax form However, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. Instructions for 1040ez federal tax form Capital Gain Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. Instructions for 1040ez federal tax form These lower rates are called the maximum capital gain rates. Instructions for 1040ez federal tax form The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. Instructions for 1040ez federal tax form For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. Instructions for 1040ez federal tax form See Table 16-1 for details. Instructions for 1040ez federal tax form If you figure your tax using the maximum capital gain rate and the regular tax computation results in a lower tax, the regular tax computation applies. Instructions for 1040ez federal tax form Example. Instructions for 1040ez federal tax form All of your net capital gain is from selling collectibles, so the capital gain rate would be 28%. Instructions for 1040ez federal tax form If you are otherwise subject to a rate lower than 28%, the 28% rate does not apply. Instructions for 1040ez federal tax form Investment interest deducted. Instructions for 1040ez federal tax form   If you claim a deduction for investment interest, you may have to reduce the amount of your net capital gain that is eligible for the capital gain tax rates. Instructions for 1040ez federal tax form Reduce it by the amount of the net capital gain you choose to include in investment income when figuring the limit on your investment interest deduction. Instructions for 1040ez federal tax form This is done on the Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet. Instructions for 1040ez federal tax form For more information about the limit on investment interest, see Interest Expenses in chapter 3 of Publication 550. Instructions for 1040ez federal tax form Table 16-1. Instructions for 1040ez federal tax form What Is Your Maximum Capital Gain Rate? IF your net capital gain is from . Instructions for 1040ez federal tax form . Instructions for 1040ez federal tax form . Instructions for 1040ez federal tax form THEN your  maximum capital gain rate is . Instructions for 1040ez federal tax form . Instructions for 1040ez federal tax form . Instructions for 1040ez federal tax form a collectibles gain 28% an eligible gain on qualified small business stock minus the section 1202 exclusion 28% an unrecaptured section 1250 gain 25% other gain1 and the regular tax rate that would apply is 39. Instructions for 1040ez federal tax form 6% 20% other gain1 and the regular tax rate that would apply is 25%, 28%, 33%, or 35% 15% other gain1 and the regular tax rate that would apply is 10% or 15% 0% 1 Other gain means any gain that is not collectibles gain, gain on qualified small business stock, or unrecaptured section 1250 gain. Instructions for 1040ez federal tax form     Collectibles gain or loss. Instructions for 1040ez federal tax form   This is gain or loss from the sale or trade of a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held more than 1 year. Instructions for 1040ez federal tax form   Collectibles gain includes gain from sale of an interest in a partnership, S corporation, or trust due to unrealized appreciation of collectibles. Instructions for 1040ez federal tax form Gain on qualified small business stock. Instructions for 1040ez federal tax form    If you realized a gain from qualified small business stock that you held more than 5 years, you generally can exclude some or all of your gain under section 1202. Instructions for 1040ez federal tax form The eligible gain minus your section 1202 exclusion is a 28% rate gain. Instructions for 1040ez federal tax form See Gains on Qualified Small Business Stock in chapter 4 of Publication 550. Instructions for 1040ez federal tax form Unrecaptured section 1250 gain. Instructions for 1040ez federal tax form    Generally, this is any part of your capital gain from selling section 1250 property (real property) that is due to depreciation (but not more than your net section 1231 gain), reduced by any net loss in the 28% group. Instructions for 1040ez federal tax form Use the Unrecaptured Section 1250 Gain Worksheet in the Schedule D (Form 1040) instructions to figure your unrecaptured section 1250 gain. Instructions for 1040ez federal tax form For more information about section 1250 property and section 1231 gain, see chapter 3 of Publication 544. Instructions for 1040ez federal tax form Tax computation using maximum capital gain rates. Instructions for 1040ez federal tax form   Use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet (whichever applies) to figure your tax if you have qualified dividends or net capital gain. Instructions for 1040ez federal tax form You have net capital gain if Schedule D (Form 1040), lines 15 and 16, are both gains. Instructions for 1040ez federal tax form Schedule D Tax Worksheet. Instructions for 1040ez federal tax form   Use the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions to figure your tax if: You have to file Schedule D (Form 1040); and Schedule D (Form 1040), line 18 (28% rate gain) or line 19 (unrecaptured section 1250 gain), is more than zero. Instructions for 1040ez federal tax form Qualified Dividends and Capital Gain Tax Worksheet. Instructions for 1040ez federal tax form   If you do not have to use the Schedule D Tax Worksheet (as explained above) and any of the following apply, use the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040 or Form 1040A (whichever you file) to figure your tax. Instructions for 1040ez federal tax form You received qualified dividends. Instructions for 1040ez federal tax form (See Qualified Dividends in chapter 8. Instructions for 1040ez federal tax form ) You do not have to file Schedule D (Form 1040) and you received capital gain distributions. Instructions for 1040ez federal tax form (See Exceptions to filing Form 8949 and Schedule D (Form 1040) , earlier. Instructions for 1040ez federal tax form ) Schedule D (Form 1040), lines 15 and 16, are both more than zero. Instructions for 1040ez federal tax form Alternative minimum tax. Instructions for 1040ez federal tax form   These capital gain rates are also used in figuring alternative minimum tax. Instructions for 1040ez federal tax form Prev  Up  Next   Home   More Online Publications