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

Irs 1040ez Tax Table

Amend 2009 Tax Return Online FreeFile My State Taxes FreeE File Form 1040xTaxact 2012 Login In2012 Free Tax Software OnlineFederal Income Tax Forms 20111040ez Instruction BookletIrs Tax Extension FormFree Efile State TaxesFile Federal Taxes Free2008 Tax Form 10402012 Turbo Tax ReturnAmendment Form 1040xHr Block OnlineFree Fillable FormsHow To File A 1040x OnlineState 1040 Ez FormHow To File An Amended Return For 20131040 State Tax FormForm 1040ez More:label_form_201040ez More:taxesAmend Taxes 2010Printiable State Tax Form1040ez 2012 FormIncome Tax Return FilingFiling Amended Tax Return 2010Handr BlockTurbo Tax FilingIrs Form 1040ez InstructionsEfile State TaxesFreestatetaxreturnForm 1040nr SoftwareStudent Filing TaxesForm 1040x Amended ReturnHow To File 2011 Taxes Late1040 Ez InstructionsCheapest State Tax ReturnFiling Amended ReturnE File State And Federal Taxes For FreeHow Do I File My State Taxes Online For Free1040nr Form

Irs 1040ez Tax Table

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

Seniors & Retirees

1040 Central
1040 Central has been updated for the last few weeks of Filing Season 2014.

Tax Scams/Consumer Alerts
The IRS urges taxpayers not to fall victim to tax scams. If it sounds too good to be true, it probably is.

Tax Counseling for the Elderly
The Tax Counseling for the Elderly Program provides free tax help to people aged 60 and older.

Tips for Seniors in Preparing their Taxes
Check here for tips on common pitfalls for seniors to watch for when preparing their individual tax returns.

Life Events That May Have Tax Consequences for Seniors and Retirees
Some events in the lives of seniors and retirees may affect their tax responsibilities. This page contains links to more information.

Are Your Social Security Benefits Taxable?
How much, if any, of your social security benefits are taxable depends on your total income and marital status.

Frequently Asked Questions for Seniors
This page highlights places to go for answers to questions frequently asked by seniors.

Products for Older Americans
This page contains links to several IRS products of interest to older Americans.

Page Last Reviewed or Updated: 28-Mar-2014

The Irs 1040ez Tax Table

Irs 1040ez tax table Index A Actuarial Tables, Actuarial Tables How to use, How To Use Actuarial Tables Unisex, Unisex Annuity Tables Adjustments to total cost, Adjustments Annuity starting date, The annuity starting date Assistance (see Tax help) D Death benefit exclusion, Death benefit exclusion. Irs 1040ez tax table E Election Post-June 1986 contributions, Contributions made both before July 1986 and after June 1986. Irs 1040ez tax table , Annuity received after June 30, 1986. Irs 1040ez tax table Pre-July 1986 contributions, Contributions made both before July 1986 and after June 1986. Irs 1040ez tax table Employment abroad, Foreign employment. Irs 1040ez tax table Exclusion limited to net cost, Exclusion limited to net cost. Irs 1040ez tax table Exclusion not limited to net cost, Exclusion not limited to net cost. Irs 1040ez tax table Exclusion ratio, Step 3. Irs 1040ez tax table Expected return, Expected Return F Fixed period annuity, Types of pensions and annuities. Irs 1040ez tax table , Fixed period annuity. Irs 1040ez tax table Foreign employment, Foreign employment. Irs 1040ez tax table Free tax services, Free help with your tax return. Irs 1040ez tax table G General Rule Who must use the, Who must use the General Rule. Irs 1040ez tax table H Help (see Tax help) Help from IRS, Help from IRS. Irs 1040ez tax table , Request for a ruling. Irs 1040ez tax table , Free IRS help. Irs 1040ez tax table , Requesting a Ruling on Taxation of Annuity I Increase in payments, Increase in annuity payments. Irs 1040ez tax table Investment in the contract, Investment in the Contract J Joint and survivor annuities, Types of pensions and annuities. Irs 1040ez tax table , Joint and survivor annuities. Irs 1040ez tax table N Net cost, Net cost. Irs 1040ez tax table Nonqualified employee plans, General Information P Part-year payments, Part-year payments. Irs 1040ez tax table Periodic payments, taxation of, Taxation of Periodic Payments Publications (see Tax help) Q Qualified plans, Introduction R Refund feature, Refund feature. Irs 1040ez tax table Ruling request, Request for a ruling. Irs 1040ez tax table , Requesting a Ruling on Taxation of Annuity S Single life annuity, Single life annuity. Irs 1040ez tax table Survivor annuities, Different payments to survivor. Irs 1040ez tax table T Tax help, How To Get Tax Help Taxable part of annuity How to compute the, Computation Under the General Rule Worksheets, Worksheet I For Determining Taxable Annuity Under Regulations Section 1. Irs 1040ez tax table 72-6(d)(6) Election For Single Annuitant With No Survivor Annuity, Worksheet II For Determining Taxable Annuity Under Regulations Section 1. Irs 1040ez tax table 72-6(d)(6) Election For Joint and Survivor Annuity TTY/TDD information, How To Get Tax Help Types of pensions and annuities, Types of pensions and annuities. Irs 1040ez tax table V Variable annuities, Types of pensions and annuities. Irs 1040ez tax table , Variable annuities. Irs 1040ez tax table W Withholding of tax, Withholding tax and estimated tax. Irs 1040ez tax table Prev  Up     Home   More Online Publications