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Irs File Extension

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Irs File Extension

Irs file extension Publication 590 - Introductory Material Table of Contents What's New for 2013 What's New for 2014 Reminders IntroductionOrdering forms and publications. Irs file extension Tax questions. Irs file extension Useful Items - You may want to see: Note. Irs file extension After 2013, Publication 590 will be split into two separate publications as follows. Irs file extension Publication 590-A, will focus on contributions to traditional IRAs as well as Roth IRAs. Irs file extension This publication will include the rules for rollover and conversion contributions. Irs file extension Publication 590-B, will focus on distributions from traditional IRAs as well as Roth IRAs. Irs file extension This publication will include the rules for required minimum distributions and IRA beneficiaries. Irs file extension What's New for 2013 Traditional IRA contribution and deduction limit. Irs file extension  The contribution limit to your traditional IRA for 2013 will be increased to the smaller of the following amounts: $5,500, or Your taxable compensation for the year. Irs file extension If you were age 50 or older before 2014, the most that can be contributed to your traditional IRA for 2013 will be the smaller of the following amounts: $6,500, or Your taxable compensation for the year. Irs file extension For more information, see How Much Can Be Contributed? in chapter 1. Irs file extension Roth IRA contribution limit. Irs file extension  If contributions on your behalf are made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $5,500, or Your taxable compensation for the year. Irs file extension If you were age 50 or older before 2014 and contributions on your behalf were made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $6,500, or Your taxable compensation for the year. Irs file extension However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced. Irs file extension For more information, see How Much Can Be Contributed? under Can You Contribute to a Roth IRA? in chapter 2. Irs file extension Modified AGI limit for traditional IRA contributions increased. Irs file extension  For 2013, if you were covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $95,000 but less than $115,000 for a married couple filing a joint return or a qualifying widow(er), More than $59,000 but less than $69,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Irs file extension If you either lived with your spouse or file a joint return, and your spouse was covered by a retirement plan at work, but you were not, your deduction is phased out if your modified AGI is more than $178,000 but less than $188,000. Irs file extension If your modified AGI is $188,000 or more, you cannot take a deduction for contributions to a traditional IRA. Irs file extension See How Much Can You Deduct? in chapter 1. Irs file extension Modified AGI limit for Roth IRA contributions increased. Irs file extension  For 2013, your Roth IRA contribution limit is reduced (phased out) in the following situations. Irs file extension Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $178,000. Irs file extension You cannot make a Roth IRA contribution if your modified AGI is $188,000 or more. Irs file extension Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2013 and your modified AGI is at least $112,000. Irs file extension You cannot make a Roth IRA contribution if your modified AGI is $127,000 or more. Irs file extension Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Irs file extension You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Irs file extension See Can You Contribute to a Roth IRA? in chapter 2. Irs file extension Net Investment Income Tax. Irs file extension  For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), 457(b) plans, and IRAs). Irs file extension However, these distributions are taken into account when determining the modified adjusted gross income threshold. Irs file extension Distributions from a nonqualified retirement plan are included in net investment income. Irs file extension See Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions for more information. Irs file extension Kay Bailey Hutchison Spousal IRA. Irs file extension . Irs file extension  In 2013, spousal IRAs were renamed to Kay Bailey Hutchison Spousal IRAs. Irs file extension There are no changes to the rules regarding these IRAs. Irs file extension See Kay Bailey Hutchison Spousal IRA Limit in chapter 1 for more information. Irs file extension What's New for 2014 Modified AGI limit for traditional IRA contributions increased. Irs file extension  For 2014, if you are covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $96,000 but less than $116,000 for a married couple filing a joint return or a qualifying widow(er), More than $60,000 but less than $70,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Irs file extension If you either live with your spouse or file a joint return, and your spouse is covered by a retirement plan at work, but you are not, your deduction is phased out if your modified AGI is more than $181,000 but less than $191,000. Irs file extension If your modified AGI is $191,000 or more, you cannot take a deduction for contributions to a traditional IRA. Irs file extension Modified AGI limit for Roth IRA contributions increased. Irs file extension  For 2014, your Roth IRA contribution limit is reduced (phased out) in the following situations. Irs file extension Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $181,000. Irs file extension You cannot make a Roth IRA contribution if your modified AGI is $191,000 or more. Irs file extension Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2014 and your modified AGI is at least $114,000. Irs file extension You cannot make a Roth IRA contribution if your modified AGI is $129,000 or more. Irs file extension Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Irs file extension You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Irs file extension Reminders Future developments. Irs file extension  For the latest information about developments related to Publication 590, such as legislation enacted after it was published, go to www. Irs file extension irs. Irs file extension gov/pub590. Irs file extension Simplified employee pension (SEP). Irs file extension  SEP IRAs are not covered in this publication. Irs file extension They are covered in Publication 560, Retirement Plans for Small Business. Irs file extension Deemed IRAs. Irs file extension  A qualified employer plan (retirement plan) can maintain a separate account or annuity under the plan (a deemed IRA) to receive voluntary employee contributions. Irs file extension If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules. Irs file extension An employee's account can be treated as a traditional IRA or a Roth IRA. Irs file extension For this purpose, a “qualified employer plan” includes: A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan), A qualified employee annuity plan (section 403(a) plan), A tax-sheltered annuity plan (section 403(b) plan), and A deferred compensation plan (section 457 plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state. Irs file extension Contributions to both traditional and Roth IRAs. Irs file extension  For information on your combined contribution limit if you contribute to both traditional and Roth IRAs, see Roth IRAs and traditional IRAs under How Much Can Be Contributed? in chapter 2. Irs file extension Statement of required minimum distribution (RMD). Irs file extension  If an RMD is required from your IRA, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the RMD to you, or offer to calculate it for you. Irs file extension The report or offer must include the date by which the amount must be distributed. Irs file extension The report is due January 31 of the year in which the minimum distribution is required. Irs file extension It can be provided with the year-end fair market value statement that you normally get each year. Irs file extension No report is required for section 403(b) contracts (generally tax-sheltered annuities) or for IRAs of owners who have died. Irs file extension IRA interest. Irs file extension  Although interest earned from your IRA is generally not taxed in the year earned, it is not tax-exempt interest. Irs file extension Tax on your traditional IRA is generally deferred until you take a distribution. Irs file extension Do not report this interest on your return as tax-exempt interest. Irs file extension For more information on tax-exempt interest, see the instructions for your tax return. Irs file extension Photographs of missing children. Irs file extension  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Irs file extension Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Irs file extension You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Irs file extension Introduction This publication discusses individual retirement arrangements (IRAs). Irs file extension An IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement. Irs file extension What are some tax advantages of an IRA?   Two tax advantages of an IRA are that: Contributions you make to an IRA may be fully or partially deductible, depending on which type of IRA you have and on your circumstances, and Generally, amounts in your IRA (including earnings and gains) are not taxed until distributed. Irs file extension In some cases, amounts are not taxed at all if distributed according to the rules. Irs file extension What's in this publication?   This publication discusses traditional, Roth, and SIMPLE IRAs. Irs file extension It explains the rules for: Setting up an IRA, Contributing to an IRA, Transferring money or property to and from an IRA, Handling an inherited IRA, Receiving distributions (making withdrawals) from an IRA, and Taking a credit for contributions to an IRA. Irs file extension   It also explains the penalties and additional taxes that apply when the rules are not followed. Irs file extension To assist you in complying with the tax rules for IRAs, this publication contains worksheets, sample forms, and tables, which can be found throughout the publication and in the appendices at the back of the publication. Irs file extension How to use this publication. Irs file extension   The rules that you must follow depend on which type of IRA you have. Irs file extension Use Table I-1 to help you determine which parts of this publication to read. Irs file extension Also use Table I-1 if you were referred to this publication from instructions to a form. Irs file extension Comments and suggestions. Irs file extension   We welcome your comments about this publication and your suggestions for future editions. Irs file extension   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Irs file extension NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Irs file extension Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Irs file extension   You can send your comments from www. Irs file extension irs. Irs file extension gov/formspubs/. Irs file extension Click on “More Information” and then on “Comment on Tax Forms and Publications”. Irs file extension   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Irs file extension Ordering forms and publications. Irs file extension   Visit www. Irs file extension irs. Irs file extension gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Irs file extension Internal Revenue Service 1201 N. Irs file extension Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Irs file extension   If you have a tax question, check the information available on IRS. Irs file extension gov or call 1-800-829-1040. Irs file extension We cannot answer tax questions sent to either of the above addresses. Irs file extension Useful Items - You may want to see: Publications 560 Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans) 571 Tax-Sheltered Annuity Plans (403(b) Plans) 575 Pension and Annuity Income 939 General Rule for Pensions and Annuities Forms (and instructions) W-4P Withholding Certificate for Pension or Annuity Payments 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Irs file extension 5304-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–Not for Use With a Designated Financial Institution 5305-S SIMPLE Individual Retirement Trust Account 5305-SA SIMPLE Individual Retirement Custodial Account 5305-SIMPLE Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)–for Use With a Designated Financial Institution 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts 5498 IRA Contribution Information 8606 Nondeductible IRAs 8815 Exclusion of Interest From Series EE and I U. Irs file extension S. Irs file extension Savings Bonds Issued After 1989 8839 Qualified Adoption Expenses 8880 Credit for Qualified Retirement Savings Contributions See chapter 5 for information about getting these publications and forms. Irs file extension Table I-1. Irs file extension Using This Publication IF you need information on . Irs file extension . Irs file extension . Irs file extension THEN see . Irs file extension . Irs file extension . Irs file extension traditional IRAs chapter 1. Irs file extension Roth IRAs chapter 2, and parts of  chapter 1. Irs file extension SIMPLE IRAs chapter 3. Irs file extension the credit for qualified retirement savings contributions (the saver's credit) chapter 4. Irs file extension how to keep a record of your contributions to, and distributions from, your traditional IRA(s) appendix A. Irs file extension SEP IRAs and 401(k) plans Publication 560. Irs file extension Coverdell education savings accounts (formerly called education IRAs) Publication 970. Irs file extension IF for 2013, you received social security benefits, had taxable compensation, contributed to a traditional IRA, and you or your spouse was covered by an employer retirement plan, and you want to. Irs file extension . Irs file extension . Irs file extension THEN see . Irs file extension . Irs file extension . Irs file extension first figure your modified adjusted gross income (AGI) appendix B, worksheet 1. Irs file extension then figure how much of your traditional IRA contribution you can deduct appendix B, worksheet 2. Irs file extension and finally figure how much of your social security is taxable appendix B, worksheet 3. Irs file extension Table I-2. Irs file extension How Are a Traditional IRA and a Roth IRA Different? This table shows the differences between traditional and Roth IRAs. Irs file extension Answers in the middle column apply to traditional IRAs. Irs file extension Answers in the right column apply to Roth IRAs. Irs file extension Question Answer   Traditional IRA? Roth IRA? Is there an age limit on when I can open and contribute to a Yes. Irs file extension You must not have reached age  70½ by the end of the year. Irs file extension See Who Can Open a Traditional IRA? in chapter 1. Irs file extension No. Irs file extension You can be any age. Irs file extension See Can You Contribute to a Roth IRA? in chapter 2. Irs file extension If I earned more than $5,500 in 2013 ($6,500 if I was 50 or older by the end of 2013), is there a limit on how much I can contribute to a Yes. Irs file extension For 2013, you can contribute to a traditional IRA up to: $5,500, or $6,500 if you were age 50 or older by the end of 2013. Irs file extension  There is no upper limit on how much you can earn and still contribute. Irs file extension See How Much Can Be Contributed? in chapter 1. Irs file extension Yes. Irs file extension For 2013, you may be able to contribute to a Roth IRA up to: $5,500, or $6,500 if you were age 50 or older by the end of 2013,  but the amount you can contribute may be less than that depending on your income, filing status, and if you contribute to another IRA. Irs file extension See How Much Can Be Contributed? and Table 2-1 in chapter 2. Irs file extension Can I deduct contributions to a Yes. Irs file extension You may be able to deduct your contributions to a traditional IRA depending on your income, filing status, whether you are covered by a retirement plan at work, and whether you receive social security benefits. Irs file extension See How Much Can You Deduct? in chapter 1. Irs file extension No. Irs file extension You can never deduct contributions to a Roth IRA. Irs file extension See What Is a Roth IRA? in chapter 2. Irs file extension Do I have to file a form just because I contribute to a Not unless you make nondeductible contributions to your traditional IRA. Irs file extension In that case, you must file Form 8606. Irs file extension See Nondeductible Contributions in chapter 1. Irs file extension No. Irs file extension You do not have to file a form if you contribute to a Roth IRA. Irs file extension See Contributions not reported in chapter 2. Irs file extension Do I have to start taking distributions when I reach a certain age from a Yes. Irs file extension You must begin receiving required minimum distributions by April 1 of the year following the year you reach age 70½. Irs file extension See When Must You Withdraw Assets? (Required Minimum Distributions) in chapter 1. Irs file extension No. Irs file extension If you are the original owner of a Roth IRA, you do not have to take distributions regardless of your age. Irs file extension See Are Distributions Taxable? in chapter 2. Irs file extension However, if you are the beneficiary of a Roth IRA, you may have to take distributions. Irs file extension See Distributions After Owner's Death in chapter 2. Irs file extension How are distributions taxed from a Distributions from a traditional IRA are taxed as ordinary income, but if you made nondeductible contributions, not all of the distribution is taxable. Irs file extension See Are Distributions Taxable? in chapter 1. Irs file extension Distributions from a Roth IRA are not taxed as long as you meet certain criteria. Irs file extension See Are Distributions Taxable? in chapter 2. Irs file extension Do I have to file a form just because I receive distributions from a Not unless you have ever made a nondeductible contribution to a traditional IRA. Irs file extension If you have, file Form 8606. Irs file extension See Nondeductible Contributions in chapter 1. Irs file extension Yes. Irs file extension File Form 8606 if you received distributions from a Roth IRA (other than a rollover, qualified charitable distribution, one-time distribution to fund an HSA, recharacterization, certain qualified distributions, or a return of certain contributions). Irs file extension Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - Historical Data Tables

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All Historical tables are available in Microsoft Excel file format. 

Excel Viewer


Tables by Number:

1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 (expanded version), 13 (expanded version), 14a, 14b, 15, 16 (expanded version), 17, 18, 19 , 20, 21, 22a, 22b, 23, 24.

 


Table Descriptions

Table 1.  Individual Income Tax Returns: Selected Income and Tax Items.

Table 2.  Individual Income and Tax Data, by State and Size of Adjusted Gross Income.

Table 3.  Number of Individual Income Tax Returns, Income, Exemptions and Deductions, Tax, and Average Tax, by Size of Adjusted Gross Income.

Table 4.  Comparison of Personal Income in the National Income and Product Accounts (NIPA) with Adjusted Gross Income (AGI).  (Discontinued)

Table 5.  Personal Income and Total Adjusted Gross Income Based on Individual Income Tax Returns per National Income and Product Accounts (NIPA).  (Discontinued)

Table 6.  Total Adjusted Gross Income Estimated from National Income and Product Accounts (NIPA) and as Reported on Individual Income Tax Returns per SOI.  (Discontinued)

Table 7.  Standard, Itemized, and Total Deductions Reported on Individual Income Tax Returns.

Table 8.  Personal Income per National Income and Product Accounts (NIPA), and Taxable Income and Individual Income Tax per SOI.

Table 9.  Number of Individual Income Tax Returns, by Type of Tax Settlement.

Table 10.  Nonfarm Sole Proprietorship Returns: Selected Income Statement Items for Specified Income.

Table 11.  Partnership Returns: Selected Balance Sheet and Income Statement Items for Specified Income Years.

Table 12.  Number of Business Income Tax Returns, by Size of Business for Income Years, 1990–2009. Expanded Version.

Table 13.  Corporation Income Tax Returns: Balance Sheet, Income Statement, and Tax Items for Income Years, 1990–2009. Expanded Version.

Table 14a.  Corporation Income Tax Returns: Selected Balance Sheet, Income Statement, and Tax Items, by Standard Industrial Classification (SIC) Industrial Division.

Table 14b.  Corporation Income Tax Returns: Selected Balance Sheet, Income Statement, and Tax Items, by North American Industry Classification System (NAICS) Industrial Sector.

Table 15.  Corporation Profits Before Tax per National Income and Product Accounts (NIPA) and per SOI, and Income Subject to Tax per SOI, Income Years 1960–2007.

Table 16.  Nonprofit Charitable Organization and Domestic Private Foundation Information Returns, and Exempt Organization Business Income Tax Returns: Selected Financial Data. Expanded Version.

Table 17.  Taxable Estate Tax Returns as a Percentage of Adult Deaths, Selected Years of Death, 1934–2008.

Table 18.  Treasury Department Gross Tax Collections: Amount Collected by Quarter and Fiscal Year. (Discontinued)

Table 19.  Internal Revenue Tax Refunds: Amount Refunded by Quarter and Fiscal Year. (Discontinued)

Table 20.  Federal Excise Taxes Reported to or Collected by the Internal Revenue Service, Alcohol and Tobacco Tax and Trade Bureau, and Customs Service, by Type of Excise Tax.

Table 21.  Selected Returns and Forms Filed or To Be Filed by Type During Specified Calendar Years.

Table 22a.  Taxpayers Receiving Assistance.

Table 22b.  IRS Assistance for Individual Taxpayers.

Appendix to Selected Historical and Other Data Tables

Table 23.  U.S. Individual Income Tax: Personal Exemptions and Lowest and Highest Bracket Tax Rates, and Tax Base for Regular Tax.

Table 24.  U.S. Corporation Income Tax: Tax Brackets and Rates.

 


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Page Last Reviewed or Updated: 19-Jun-2013

The Irs File Extension

Irs file extension 9. Irs file extension   Worksheets Table of Contents When Should I Figure MAC?Checking the Previous Year's Contributions Available Worksheets Chapter 2 introduced you to the term maximum amount contributable (MAC). Irs file extension Generally, your MAC is the lesser of your: Limit on annual additions (chapter 3), or Limit on elective deferrals (chapter 4). Irs file extension The worksheets in this chapter can help you figure the cost of incidental life insurance, your includible compensation, your limit on annual additions, your limit on elective deferrals, your limit on catch-up contributions, and your MAC. Irs file extension After completing the worksheets, you should maintain them with your 403(b) records for that year. Irs file extension Do not attach them to your tax return. Irs file extension At the end of the year or the beginning of the next year, you should compare your estimated compensation figures with your actual figures. Irs file extension If your compensation is the same as, or more than, the projected amounts and the calculations are correct, then you should simply file these worksheets with your other tax records for the year. Irs file extension If your compensation was lower than your estimated figures, you will need to check the amount contributed during the year to determine if contributions are more than your MAC. Irs file extension When Should I Figure MAC? At the beginning of each year, you should figure your MAC using a conservative estimate of your compensation. Irs file extension Should your income change during the year, you should refigure your MAC based on a revised conservative estimate. Irs file extension By doing this, you will be able to determine if contributions to your 403(b) account should be increased or decreased for the year. Irs file extension Checking the Previous Year's Contributions At the beginning of the following year, you should refigure your MAC based on your actual earned income. Irs file extension At the end of the current year or the beginning of the next year, you should check your contributions to be sure you did not exceed your MAC. Irs file extension This means refiguring your limit based on your actual compensation figures for the year. Irs file extension This will allow you to determine if the amount contributed is more than the allowable amounts, and possibly avoid additional taxes. Irs file extension Available Worksheets The following worksheets have been provided to help you figure your MAC. Irs file extension Worksheet A. Irs file extension Cost of Incidental Life Insurance. Irs file extension Worksheet B. Irs file extension Includible Compensation for Your Most Recent Year of Service Worksheet C. Irs file extension Limit on Catch-Up Contributions. Irs file extension ??? Worksheet 1. Irs file extension Maximum Amount Contributable (MAC). Irs file extension Worksheet A. Irs file extension Cost of Incidental Life Insurance Note. Irs file extension Use this worksheet to figure the cost of incidental life insurance included in your annuity contract. Irs file extension This amount will be used to figure includible compensation for your most recent year of service. Irs file extension 1. Irs file extension Enter the value of the contract (amount payable upon your death) 1. Irs file extension   2. Irs file extension Enter the cash value in the contract at the end of the year 2. Irs file extension   3. Irs file extension Subtract line 2 from line 1. Irs file extension This is the value of your current life insurance protection 3. Irs file extension   4. Irs file extension Enter your age on your birthday nearest the beginning of the policy year 4. Irs file extension   5. Irs file extension Enter the 1-year term premium for $1,000 of life insurance based on your age. Irs file extension (From Figure 3-1) 5. Irs file extension   6. Irs file extension Divide line 3 by $1,000 6. Irs file extension   7. Irs file extension Multiply line 6 by line 5. Irs file extension This is the cost of your incidental life insurance 7. Irs file extension   Worksheet B. Irs file extension Includible Compensation for Your Most Recent Year of Service1 Note. Irs file extension Use this worksheet to figure includible compensation for your most recent year of service. Irs file extension 1. Irs file extension Enter your includible wages from the employer maintaining your 403(b) account for your most recent year of service 1. Irs file extension   2. Irs file extension Enter elective deferrals excluded from your gross income for your most recent year of service2 2. Irs file extension   3. Irs file extension Enter amounts contributed or deferred by your employer under a cafeteria plan for your most recent year of service 3. Irs file extension   4. Irs file extension Enter amounts contributed or deferred by your employer according to your election to your 457 account (a nonqualified plan of a state or local government or of a tax-exempt organization) for your most recent year of service 4. Irs file extension   5. Irs file extension Enter pre-tax contributions (employer's contributions made on your behalf according to your election) to a qualified transportation fringe benefit plan for your most recent year of service 5. Irs file extension   6. Irs file extension Enter your foreign earned income exclusion for your most recent year of service 6. Irs file extension   7. Irs file extension Add lines 1, 2, 3, 4, 5, and 6 7. Irs file extension   8. Irs file extension Enter the cost of incidental life insurance that is part of your annuity contract for your most recent year of service 8. Irs file extension   9. Irs file extension Enter compensation that was both: Earned during your most recent year of service, and Earned while your employer was not qualified to maintain a 403(b) plan 9. Irs file extension   10. Irs file extension Add lines 8 and 9 10. Irs file extension   11. Irs file extension Subtract line 10 from line 7. Irs file extension This is your includible compensation for your most recent year of service 11. Irs file extension   1Use estimated amounts if figuring includible compensation before the end of the year. Irs file extension  2Elective deferrals made to a designated Roth account are not excluded from your gross income and should not be included on this line. Irs file extension Worksheet C. Irs file extension Limit on Catch-Up Contributions Note. Irs file extension If you will be age 50 or older by the end of the year, use this worksheet to figure your limit on catch-up contributions. Irs file extension 1. Irs file extension Maximum catch-up contributions 1. Irs file extension $5,500 2. Irs file extension Enter your includible compensation for your most recent year of service 2. Irs file extension   3. Irs file extension Enter your elective deferrals 3. Irs file extension   4. Irs file extension Subtract line 3 from line 2 4. Irs file extension   5. Irs file extension Enter the lesser of line 1 or line 4. Irs file extension This is your limit on catch-up contributions 5. Irs file extension   Worksheet 1. Irs file extension Maximum Amount Contributable (MAC) Note. Irs file extension Use this worksheet to figure your MAC. Irs file extension Part I. Irs file extension Limit on Annual Additions     1. Irs file extension Enter your includible compensation for your most recent year of service 1. Irs file extension   2. Irs file extension Maximum1: For 2013, enter $51,000 For 2014, enter $52,000 2. Irs file extension   3. Irs file extension Enter the lesser of line 1 or line 2. Irs file extension This is your limit on annual additions 3. Irs file extension     Caution: If you had only nonelective contributions, skip Part II and enter the amount from line 3 on line 18. Irs file extension     Part II. Irs file extension Limit on Elective Deferrals     4. Irs file extension Maximum contribution: For 2013, enter $17,500 For 2014, enter $17,500 4. Irs file extension     Note. Irs file extension If you have at least 15 years of service with a qualifying organization, complete lines 5 through 17. Irs file extension If not, enter zero (-0-) on line 16 and go to line 17. Irs file extension     5. Irs file extension Amount per year of service 5. Irs file extension $ 5,000 6. Irs file extension Enter your years of service 6. Irs file extension   7. Irs file extension Multiply line 5 by line 6 7. Irs file extension   8. Irs file extension Enter the total of all elective deferrals made for you by the qualifying organization for prior years 8. Irs file extension   9. Irs file extension Subtract line 8 from line 7. Irs file extension If zero or less, enter zero (-0-) 9. Irs file extension   10. Irs file extension Maximum increase in limit for long service 10. Irs file extension $15,000 11. Irs file extension Enter the total of additional pre-tax elective deferrals made in prior years under the 15-year rule 11. Irs file extension   12. Irs file extension Enter the aggregate amount of all designated Roth contributions permitted for prior years under the 15-year rule 12. Irs file extension   13. Irs file extension Add line 11 and line 12 13. Irs file extension   14. Irs file extension Subtract line 13 from line 10 14. Irs file extension   15. Irs file extension Maximum additional contributions 15. Irs file extension $ 3,000 16. Irs file extension Enter the least of lines 9, 14, or 15. Irs file extension This is your increase in the limit for long service 16. Irs file extension   17. Irs file extension Add lines 4 and 16. Irs file extension This is your limit on elective deferrals 17. Irs file extension     Part III. Irs file extension Maximum Amount Contributable     18. Irs file extension If you had only nonelective contributions, enter the amount from line 3. Irs file extension This is your MAC. Irs file extension    If you had only elective deferrals, enter the lesser of lines 3 or 17. Irs file extension This is your MAC. Irs file extension    If you had both elective deferrals and nonelective contributions, enter the amount from line 3. Irs file extension This is your MAC. Irs file extension (Use the amount on line 17 to determine if you have excess elective deferrals as explained in chapter 7. Irs file extension ) 18. Irs file extension   1If you participate in a 403(b) plan and a qualified plan, you must combine contributions made to your 403(b) account with contributions to a qualified plan and simplified employee pension plans of all corporations, partnerships, and sole proprietorships in which you have more than 50% control. Irs file extension You must also combine the contributions made to all 403(b) accounts on your behalf by your employer. Irs file extension Prev  Up  Next   Home   More Online Publications