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Irs Tax Forms 2012 1040a

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Irs Tax Forms 2012 1040a

Irs tax forms 2012 1040a 34. Irs tax forms 2012 1040a   Crédito Tributario por Hijos Table of Contents Introduction Useful Items - You may want to see: Hijo Calificado Cantidad de CréditoLímites del Crédito Cómo Reclamar el Crédito Crédito Tributario Adicional por Hijos Cómo Completar el Anexo 8812 (Formulario 1040A o Formulario 1040)Parte I Partes II a IV Introduction El crédito tributario por hijos es un crédito que puede reducir su impuesto hasta $1,000 por cada uno de sus hijos calificados. Irs tax forms 2012 1040a El crédito tributario adicional por hijos es un crédito que podría tomar en el caso de que no pueda reclamar la cantidad completa del crédito tributario por hijos. Irs tax forms 2012 1040a Este capítulo le explica lo siguiente: Quién es un hijo calificado. Irs tax forms 2012 1040a La cantidad del crédito. Irs tax forms 2012 1040a Cómo se puede reclamar el crédito. Irs tax forms 2012 1040a El crédito tributario por hijos y el crédito tributario adicional por hijos no deben confundirse con el crédito por gastos del cuidado de menores y dependientes, el cual se explica en el capítulo 32. Irs tax forms 2012 1040a Si no está sujeto al pago de impuestos. Irs tax forms 2012 1040a   Algunos créditos, tales como el crédito tributario por hijos o el crédito por gastos del cuidado de menores y dependientes, se usan para reducir el impuesto. Irs tax forms 2012 1040a Si la cantidad del impuesto en la línea 46 del Formulario 1040 o en la línea 28 del Formulario 1040A es cero, no calcule el crédito tributario por hijos ya que no hay impuesto que se pueda reducir. Irs tax forms 2012 1040a Sin embargo, podría reunir los requisitos para el crédito tributario adicional por hijos en la línea 65 (Formulario 1040) o en la línea 39 (Formulario 1040A). Irs tax forms 2012 1040a Useful Items - You may want to see: Publicación 972 Child Tax Credit (Crédito tributario por hijos), en inglés Formulario (e Instrucciones) Anexo 8812   (Formulario 1040A o 1040) Child Tax Credit (Crédito tributario por hijos), en inglés W-4(SP) Certificado de Exención de Retenciones del Empleado W-4 Employee's Withholding Allowance Certificate (Certificado de exención de retenciones del empleado), en inglés Hijo Calificado Un hijo calificado, para propósitos del crédito tributario por hijos, es aquél que: Es su hijo o hija, hijastro o hijastra, hijo de crianza, hermano o hermana, hermanastro o hermanastra o descendiente de cualquiera de ellos (por ejemplo, su nieto, nieta, sobrina o sobrino), Tenía menos de 17 años de edad al finalizar el año 2013, No proveyó más de la mitad de su propia manutención durante el año 2013, Vivió con usted durante más de la mitad del año 2013 (vea Excepciones al tiempo vivido con usted , más adelante), Fue reclamado como dependiente en la declaración de usted, No presenta una declaración conjunta para el año (o la presenta solamente para reclamar un reembolso), y Era ciudadano, nacional o residente de los Estados Unidos. Irs tax forms 2012 1040a Si el hijo fue adoptado, vea Hijo adoptivo , más adelante. Irs tax forms 2012 1040a Para cada hijo calificado, tiene que marcar el recuadro que aparece en la línea 6c del Formulario 1040 o del Formulario 1040A. Irs tax forms 2012 1040a Ejemplo 1. Irs tax forms 2012 1040a Su hijo cumplió 17 años de edad el día 30 de diciembre del año 2013. Irs tax forms 2012 1040a Él es ciudadano de los Estados Unidos y usted lo declara como dependiente en la declaración de impuestos. Irs tax forms 2012 1040a Su hijo no es hijo calificado para el crédito tributario por hijos porque no tenía menos de 17 años de edad al finalizar el año 2013. Irs tax forms 2012 1040a Ejemplo 2. Irs tax forms 2012 1040a Su hija cumplió 8 años en el año 2013. Irs tax forms 2012 1040a Ella no es ciudadana de los Estados Unidos, tiene un ITIN y vivió en México durante todo el año 2013. Irs tax forms 2012 1040a Ella no es un hijo calificado para el crédito tributario por hijos debido a que no fue residente de los Estados Unidos en 2013. Irs tax forms 2012 1040a Contribuyentes que tienen determinados hijos dependientes con un número de identificación personal del contribuyente (ITIN, por sus siglas en inglés). Irs tax forms 2012 1040a   Si está reclamando un crédito tributario por hijos o un crédito tributario adicional por hijos basándose en un hijo que identificó en su declaración de impuestos con un número de identificación personal del contribuyente (ITIN, por sus siglas en inglés), en lugar de un número de Seguro Social (SSN, por sus siglas en inglés), tiene que completar la Parte I del Anexo 8812 (Formulario 1040A o 1040). Irs tax forms 2012 1040a   Aun si su hijo es dependiente suyo, sólo puede reclamar un crédito tributario por hijos o un crédito tributario adicional por hijos basándose en un dependiente que sea ciudadano, nacional o residente de los Estados Unidos. Irs tax forms 2012 1040a Para ser tratado como residente de los Estados Unidos, un hijo normalmente tiene que cumplir el requisito de presencia sustancial. Irs tax forms 2012 1040a Para más información sobre el requisito de presencia sustancial, vea la Publicación 519, U. Irs tax forms 2012 1040a S. Irs tax forms 2012 1040a Tax Guide for Aliens (Guía sobre los impuestos federales estadounidenses para extranjeros), en inglés. Irs tax forms 2012 1040a Hijo adoptivo. Irs tax forms 2012 1040a   A un hijo adoptivo siempre se le trata como si fuera su hijo. Irs tax forms 2012 1040a Un hijo adoptivo incluye un niño colocado en su hogar por una agencia autorizada, con la intención de que sea legalmente adoptado. Irs tax forms 2012 1040a   Si usted es ciudadano o nacional de los EE. Irs tax forms 2012 1040a UU. Irs tax forms 2012 1040a y su hijo adoptivo vivió con usted como integrante de su unidad familiar durante todo el año en 2013, dicho hijo cumple el requisito (7), anteriormente, para ser un hijo calificado para propósitos del crédito tributario por hijos. Irs tax forms 2012 1040a Excepciones al tiempo vivido con usted. Irs tax forms 2012 1040a   Se considera que un hijo vivió con usted más de la mitad del año 2013 si nació o murió en el año 2013, y su hogar (el de usted) fue el hogar del hijo más de la mitad del tiempo en el cual estuvo vivo. Irs tax forms 2012 1040a Las ausencias temporales por usted o su hijo debidas a circunstancias especiales, tales como las ausencias por educación, vacaciones, negocios, atención médica, servicio militar o estancia en un centro de detención para delincuentes juveniles cuentan como tiempo que el hijo vivió con usted. Irs tax forms 2012 1040a   También hay excepciones para hijos secuestrados e hijos de padres divorciados o separados. Irs tax forms 2012 1040a Para detalles, vea Requisito de Residencia , en el capítulo 3. Irs tax forms 2012 1040a Hijo calificado de más de una persona. Irs tax forms 2012 1040a   Se aplica una regla especial si su hijo calificado es el hijo calificado de más de una persona. Irs tax forms 2012 1040a Para detalles, vea Requisito Especial para el Hijo Calificado de Más de una Persona , en el capítulo 3. Irs tax forms 2012 1040a Cantidad de Crédito La cantidad máxima de crédito que puede reclamar es $1,000 por cada hijo calificado. Irs tax forms 2012 1040a Límites del Crédito Usted tiene que reducir su crédito tributario por hijos si la condición (1) o la condición (2) le corresponde: La cantidad de la línea 46 (Formulario 1040) o de la línea 28 (Formulario 1040A) es menor que el crédito. Irs tax forms 2012 1040a Si esta cantidad es cero, no puede reclamar este crédito porque no hay impuesto que se pueda reducir. Irs tax forms 2012 1040a Sin embargo, es posible que pueda tomar el crédito tributario adicional por hijos. Irs tax forms 2012 1040a Vea Crédito Tributario Adicional por Hijos , más adelante. Irs tax forms 2012 1040a Su ingreso bruto ajustado (AGI, por sus siglas en inglés) modificado es mayor que la cantidad que se indica a continuación para su estado civil para efectos de la declaración. Irs tax forms 2012 1040a Casados que presentan una declaración conjunta: $110,000. Irs tax forms 2012 1040a Soltero, cabeza de familia o viudo que reúne los requisitos: $75,000. Irs tax forms 2012 1040a Casados que presentan la declaración por separado: $55,000. Irs tax forms 2012 1040a Ingresos brutos ajustados modificados. Irs tax forms 2012 1040a   Para propósitos del crédito tributario por hijos, su ingreso bruto ajustado (AGI, por sus siglas en inglés) modificado es su ingreso bruto ajustado más las cantidades siguientes que puedan ser aplicables en su caso: Toda cantidad excluida del ingreso debido a la exclusión de ingresos de fuentes de  Puerto Rico. Irs tax forms 2012 1040a En la línea de puntos directamente al lado de la línea 38 del Formulario 1040, anote la cantidad excluida e indentifíquela como “ EPRI. Irs tax forms 2012 1040a ” Además, adjunte una copia de todo Formulario 499R-2/W-2PR a su declaración. Irs tax forms 2012 1040a Toda cantidad de las líneas 45 ó 50 del Formulario 2555, Foreign Earned Income (Ingreso devengado en el extranjero), en inglés. Irs tax forms 2012 1040a Toda cantidad de la línea 18 del Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingreso devengado en el extranjero), en inglés. Irs tax forms 2012 1040a Toda cantidad de la línea 15 del Formulario 4563, Exclusion of Income for Bona Fide Residents of American Samoa (Exclusión del ingreso para residentes bona fide de la Samoa Estadounidense), en inglés. Irs tax forms 2012 1040a   Si no tiene ninguna de las cantidades mencionadas anteriormente, su ingreso bruto ajustado modificado es igual a su ingreso bruto ajustado. Irs tax forms 2012 1040a Ingreso bruto ajustado. Irs tax forms 2012 1040a   El ingreso bruto ajustado (AGI, por sus siglas en inglés) es la cantidad de la línea 38 del Formulario 1040 o de la línea 22 del Formulario 1040A. Irs tax forms 2012 1040a Cómo Reclamar el Crédito Para reclamar el crédito tributario por hijos, tiene que presentar el Formulario 1040 o el Formulario 1040A. Irs tax forms 2012 1040a No puede reclamar el crédito tributario por hijos en el Formulario 1040EZ. Irs tax forms 2012 1040a Tiene que proveer el nombre y número de identificación (normalmente el número de Seguro Social) de cada hijo calificado en su declaración de impuestos. Irs tax forms 2012 1040a Si reclama el crédito tributario por hijos con un hijo identificado por un ITIN, usted también tiene que presentar el Anexo 8812. Irs tax forms 2012 1040a Para calcular el crédito, primero revise la Child Tax Credit Worksheet (Hoja de trabajo del crédito tributario por hijos), en las Instrucciones para el Formulario 1040 o el Formulario 1040A. Irs tax forms 2012 1040a Si se le indica que consulte la Publicación 972, Child Tax Credit (Crédito tributario por hijos), en inglés, no puede utilizar la Hoja de trabajo de las instrucciones en la declaración de impuestos; en su lugar, usted tiene que utilizar la Publicación 972, en inglés, para calcular el crédito. Irs tax forms 2012 1040a Si no se le indica que utilice la Publicación 972, puede usar la Hoja de trabajo del crédito tributario por hijos, que se encuentra en las Instrucciones para el Formulario 1040 o las Instrucciones para el Formulario 1040A o la Publicación 972, todas en inglés, para calcular el crédito. Irs tax forms 2012 1040a Crédito Tributario Adicional por Hijos Este crédito es para determinadas personas que reciban menos de la cantidad total del crédito tributario por hijos. Irs tax forms 2012 1040a El crédito tributario adicional por hijos puede darle un reembolso aunque no adeude ningún impuesto. Irs tax forms 2012 1040a Cómo se reclama el crédito tributario adicional por hijos. Irs tax forms 2012 1040a   Para reclamar el crédito tributario adicional por hijos, siga los pasos que aparecen a continuación: Asegúrese de haber calculado la cantidad, si existe, de su crédito tributario por hijos. Irs tax forms 2012 1040a Vea anteriormente el tema titulado Cómo Reclamar el Crédito . Irs tax forms 2012 1040a Use las Partes II a la IV del Anexo 8812 para determinar si puede reclamar el crédito tributario adicional por hijos si usted contestó “Yes” (Sí) en la línea 9 ó 10 de la Child Tax Credit Worksheet (Hoja de trabajo del crédito tributario por hijos) en las Instrucciones para el Formulario 1040 o en las Instrucciones para el Formulario 1040A, o en la línea 13 de la Child Tax Credit Worksheet (Hoja de trabajo del crédito tributario por hijos) en la Publicación 972, todas en inglés. Irs tax forms 2012 1040a Si tiene un crédito tributario adicional por hijos en la línea 13 del Anexo 8812, anótelo en la línea 65 del Formulario 1040 o en la línea 39 del Formulario 1040A. Irs tax forms 2012 1040a Cómo Completar el Anexo 8812 (Formulario 1040A o Formulario 1040) El Anexo 8812 tiene cuatro partes, pero se puede considerar como que consta de dos secciones. Irs tax forms 2012 1040a La Parte I es independiente de las Partes II a la IV. Irs tax forms 2012 1040a Si todos sus hijos tienen números de Seguro Social o números de identificación del contribuyente para adopción del IRS(ATIN, por sus siglas en inglés),y usted no reclama el crédito tributario adicional por hijos, no necesita completar ni adjuntar el Anexo 8812 a su declaración de impuestos. Irs tax forms 2012 1040a Parte I Usted sólo necesitará completar la Parte I si está reclamando el crédito tributario por hijos para un hijo que aparece identificado con un número de identificación personal del contribuyente del IRS (ITIN, por sus siglas en inglés). Irs tax forms 2012 1040a Si todos los hijos por los cuales usted marcó la casilla en la columna 4 de la línea 6c de su Formulario 1040 o Formulario 1040A tienen números de Seguro Social (SSN, por sus siglas en inglés) o números de identificación del contribuyente para adopción del IRS (ATIN, por sus siglas en inglés), no tiene que completar la Parte I del Anexo 8812. Irs tax forms 2012 1040a Partes II a IV Las Partes II a la IV le ayudan a calcular el crédito adicional por hijos que le corresponde a usted. Irs tax forms 2012 1040a Por lo general, deberá completar las Partes II a la IV únicamente si se le indica luego de que completa la Hoja de trabajo del crédito tributario por hijos que aparece en las instrucciones de su declaración de impuestos o en la Publicación 972. Irs tax forms 2012 1040a Vea Cómo se reclama el crédito tributario adicional por hijos , anteriormente. Irs tax forms 2012 1040a Prev  Up  Next   Home   More Online Publications
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Understanding Your CP104 Notice

We made changes to your excise tax return because we believe there was a miscalculation. As a result of these changes, there is a balance due.


What you need to do

  • Read your notice carefully — it explains the changes to your tax account.
  • Compare the figures on the notice with your excise tax return.
  • If you disagree with our change(s), contact us within 10 days from the date of your notice.
  • If you agree with our change(s), correct the copy of your excise tax return that you kept for your records.
  • Make your payment by your due date.
  • If you can’t pay the amount you owe, go to the payments page to find out more about your payment options.

You may want to

  • Download copies of the following materials (if they weren’t included with your notice).

 


Answers to Common Questions

Q. How can I find out what caused my tax return to change?

A. Please contact us at the toll free number listed on the top right corner of your notice for specific information about your tax return.

Q. What should I do if I disagree with the changes you made?

A. If you disagree, contact us at the toll free number listed on the top right corner of your notice or respond in writing within 10 days from the date of the notice. If your response provides us with additional information that justifies a reversal of the change, we’ll reverse the change we made to your account. If you agree with the change, please pay any additional balance due by the date specified in the notice.

Q. What happens if I can’t pay the full amount I owe?

A. You can arrange to make a payment plan with us if you can’t pay the full amount you owe. Go to the payments page to find out more about your payment options.

Q. Am I charged interest on the money I owe?

A. Not if you pay the full amount you owe by the date specified on the notice. However, interest accrues on the unpaid balance after that date.

Q. Will I receive a penalty if I can’t pay the full amount?

A. Yes, you will receive a late payment penalty. You can contact us at the number given on your notice if you’re unable to pay the full amount shown in your specific notice because of circumstances beyond your control. Contact us by the due date of your payment and, depending on your situation, we may be able to remove the penalty.


Tips for next year

Consider filing your excise taxes electronically. Filing online can help you to avoid mistakes and find credits and deductions for which you may qualify. Learn more about e-file.

Page Last Reviewed or Updated: 23-Jan-2014

How to get help

  • Call the 1-800 number listed on the top right corner of your notice.
  • Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
     

The Irs Tax Forms 2012 1040a

Irs tax forms 2012 1040a Publication 970 - Additional Material Table of Contents AppendicesAppendix A. Irs tax forms 2012 1040a Illustrated Example of Education Credits Glossary Appendices The following appendices are provided to help you claim the education benefits that will give you the lowest tax. Irs tax forms 2012 1040a Appendix A—An illustrated example of education credits, including a filled-in Form 8863 showing how to claim both the American opportunity credit and lifetime learning credit for 2013. Irs tax forms 2012 1040a Appendix B—A chart summarizing some of the major differences between the education tax benefits discussed in this publication. Irs tax forms 2012 1040a It is intended only as a guide. Irs tax forms 2012 1040a Look in this publication for more complete information. Irs tax forms 2012 1040a   Appendix A. Irs tax forms 2012 1040a Illustrated Example of Education Credits Dave and Valerie Jones are married and on their 2013 joint tax return they claim exemptions for their two dependent children, Sean (age 21, social security number: 000-00-0001) and Carey (age 18, social security number: 000–00–0002). Irs tax forms 2012 1040a Their modified adjusted gross income (MAGI) on Form 1040, line 38 is $110,000. Irs tax forms 2012 1040a Because Dave and Valerie have unusually high itemized deductions, their taxable income is $10,000 and their tax before credits is $1,000. Irs tax forms 2012 1040a Sean enrolled as a full-time graduate student in August 2013 at California State College. Irs tax forms 2012 1040a He graduated with his bachelor's degree in 2012 and did not attend school from January 2013 through July 2013. Irs tax forms 2012 1040a His parents claimed the Hope Scholarship Credit for Sean for 2008 and the American opportunity credit for Sean for 2010, 2011, and 2012. Irs tax forms 2012 1040a Carey enrolled full time as a freshman at the same college in January 2013 to begin working on her bachelor's degree. Irs tax forms 2012 1040a In 2013, Dave and Valerie paid $7,000 in tuition for Sean and $8,500 in tuition for Carey. Irs tax forms 2012 1040a California State College issued two Forms 1098-T, one for Sean and one for Carey, and sent them to the Joneses' residence. Irs tax forms 2012 1040a California State College reports amounts billed in 2013 instead of amounts paid during 2013. Irs tax forms 2012 1040a In completing Form 8863, the Joneses use the amounts they paid. Irs tax forms 2012 1040a Neither Sean nor Carey has been convicted of a felony for possession or distribution of a controlled substance before the end of 2013. Irs tax forms 2012 1040a Dave and Valerie figure their education credits by completing Form 8863. Irs tax forms 2012 1040a They begin Form 8863 on page 2 before completing Part I on page 1. Irs tax forms 2012 1040a Because the Joneses have two eligible students, they will complete page 2 twice, once for their son, Sean, and once for their daughter, Carey. Irs tax forms 2012 1040a The Joneses decide to complete Part III for Carey first, as shown later. Irs tax forms 2012 1040a They carry over the amount of $2,500 entered on Part III, line 30, to Part I, line 1. Irs tax forms 2012 1040a The Joneses complete a separate Part III for their son Sean. Irs tax forms 2012 1040a They check the “Yes” box on line 23, determine that Sean is not eligible for the American opportunity credit, and go to line 31 as instructed. Irs tax forms 2012 1040a They figure their line 31 adjusted qualified education expenses for Sean to be $7,000. Irs tax forms 2012 1040a Once they have completed Part III for each student, they figure their credits. Irs tax forms 2012 1040a The Joneses figure their refundable American opportunity credit of $1,000 by completing Form 8863, Part I, lines 1 through 8. Irs tax forms 2012 1040a They enter the amount from line 8, $1,000, on line 66 of their Form 1040. Irs tax forms 2012 1040a The Joneses enter $7,000 on Part II, line 10, of Form 8863 and figure their tentative lifetime learning credit for 2013 to be $1,400 (line 12). Irs tax forms 2012 1040a They cannot claim the full amount because their MAGI of $110,000 is greater than $107,000. Irs tax forms 2012 1040a They enter the reduced amount of $1,190 (figured on Part II, line 18) on the Credit Limit Worksheet, line 1. Irs tax forms 2012 1040a The $1,190 is added to their nonrefundable American opportunity credit ($1,500 on line 2 of the Credit Limit Worksheet) for a total nonrefundable credit of $2,690. Irs tax forms 2012 1040a The Joneses enter $1,000 on line 7 of the Credit Limit Worksheet, which is the smaller of their tax from line 46 of their Form 1040 (which is $1,000) or the $2,690 on line 3 of the Credit Limit Worksheet. Irs tax forms 2012 1040a They enter $1,000 on line 19, Part II of Form 8863 and on line 49 of Form 1040. Irs tax forms 2012 1040a This image is too large to be displayed in the current screen. Irs tax forms 2012 1040a Please click the link to view the image. Irs tax forms 2012 1040a Form 1098-T Adjusted Qualified Education Expenses Worksheet (Form 8863 instructions) 1. Irs tax forms 2012 1040a Total qualified education expenses paid for or on behalf of the student in 2013 for the academic period 8,500 2. Irs tax forms 2012 1040a Less adjustments:     a. Irs tax forms 2012 1040a Tax-free educational assistance received in 2013 allocable to the academic period   0     b. Irs tax forms 2012 1040a Tax-free educational assistance received in 2014 (and before you file your 2013 tax return) allocable to the academic period   0     c. Irs tax forms 2012 1040a Refunds of qualified education expenses paid in 2013 if the refund is received in 2013 or in 2014 before you file your 2013 tax return   0   3. Irs tax forms 2012 1040a Total adjustments (add lines 2a, 2b, and 2c) 0 4. Irs tax forms 2012 1040a Adjusted qualified education expenses. Irs tax forms 2012 1040a Subtract line 3 from line 1. Irs tax forms 2012 1040a If zero or less, enter -0- 8,500 This image is too large to be displayed in the current screen. Irs tax forms 2012 1040a Please click the link to view the image. Irs tax forms 2012 1040a Form 1098-T Adjusted Qualified Education Expenses Worksheet (Form 8863 instructions) 1. Irs tax forms 2012 1040a Total qualified education expenses paid for or on behalf of the student in 2013 for the academic period 7,000 2. Irs tax forms 2012 1040a Less adjustments:     a. Irs tax forms 2012 1040a Tax-free educational assistance received in 2013 allocable to the academic period   0     b. Irs tax forms 2012 1040a Tax-free educational assistance received in 2014 (and before you file your 2013 tax return) allocable to the academic period   0     c. Irs tax forms 2012 1040a Refunds of qualified education expenses paid in 2013 if the refund is received in 2013 or in 2014 before you file your 2013 tax return   0   3. Irs tax forms 2012 1040a Total adjustments (add lines 2a, 2b, and 2c) 0 4. Irs tax forms 2012 1040a Adjusted qualified education expenses. Irs tax forms 2012 1040a Subtract line 3 from line 1. Irs tax forms 2012 1040a If zero or less, enter -0- 7,000 Credit Limit Worksheet (Form 8863 instructions) Nonrefundable Credit Worksheet 1. Irs tax forms 2012 1040a Enter the amount from Form 8863, line 18 1. Irs tax forms 2012 1040a 1,190 2. Irs tax forms 2012 1040a Enter the amount from Form 8863, line 9 2. Irs tax forms 2012 1040a 1,500 3. Irs tax forms 2012 1040a Add lines 1 and 2 3. Irs tax forms 2012 1040a 2,690 4. Irs tax forms 2012 1040a Enter the amount from: Form 1040, line 46; or Form 1040A, line 28 4. Irs tax forms 2012 1040a 1,000 5. Irs tax forms 2012 1040a Enter the amount from either: Form 1040, lines 47 and 48, and the amount from Schedule R included on Form 1040, line 53; or Form 1040A, lines 29 and 30 5. Irs tax forms 2012 1040a 0 6. Irs tax forms 2012 1040a Subtract line 5 from line 4 6. Irs tax forms 2012 1040a 1,000 7. Irs tax forms 2012 1040a   Enter the smaller of line 3 or line 6 here and on Form 8863, line 19 7. Irs tax forms 2012 1040a 1,000 This image is too large to be displayed in the current screen. Irs tax forms 2012 1040a Please click the link to view the image. Irs tax forms 2012 1040a Form 8863 for Dave and Valerie Jones This image is too large to be displayed in the current screen. Irs tax forms 2012 1040a Please click the link to view the image. Irs tax forms 2012 1040a Carey Jones page 2 This image is too large to be displayed in the current screen. Irs tax forms 2012 1040a Please click the link to view the image. Irs tax forms 2012 1040a Filled-in Form 8863 Jones page 2 Appendix B. Irs tax forms 2012 1040a Highlights of Education Tax Benefits for Tax Year 2013 This chart highlights some differences among the benefits discussed in this publication. Irs tax forms 2012 1040a See the text for definitions and details. Irs tax forms 2012 1040a Do not rely on this chart alone. Irs tax forms 2012 1040a    Caution:You generally cannot claim more than one benefit for the same education expense. Irs tax forms 2012 1040a   Scholarships,  Fellowships, Grants, and  Tuition  Reductions American Opportunity Credit Lifetime Learning Credit Student Loan Interest Deduction Tuition and Fees Deduction Coverdell ESA† Qualified Tuition Program (QTP)† Education Exception to Additional Tax on Early IRA Distributions† Education Savings Bond Program† Employer- Provided Educational Assistance† Business Deduction for Work-Related Education What is your  benefit? Amounts received may not be taxable   Credits can reduce the amount of tax you have to pay. Irs tax forms 2012 1040a    40% of the credit may be refundable (limited to $1,000 per student). Irs tax forms 2012 1040a Credits can reduce amount of tax you must pay Can deduct interest paid Can deduct expenses Earnings not  taxed Earnings not taxed No 10%  additional tax on early distribution Interest not taxed Employer benefits not taxed Can deduct expenses What is the annual limit? None $2,500 credit per student $2,000 credit per tax return     $2,500 deduction $4,000 deduction $2,000 contribution per beneficiary None Amount of qualified  education expenses Amount of qualified  education expenses $5,250 exclusion Amount of qualifying work-related education expenses What expenses  qualify besides  tuition and required enrollment fees? Course-related expenses such as fees, books, supplies, and equipment Course-related books, supplies, and equipment Amounts paid for required books, etc. Irs tax forms 2012 1040a , that must be paid to the educational institution, etc. Irs tax forms 2012 1040a , are required fees Books Supplies Equipment  Room & board  Transportation  Other necessary expenses  None Books Supplies Equipment  Expenses for special needs services  Payments to QTP  Higher education: Room & board if  at least half-time  student  Elem/sec (K–12) education: Tutoring Room & board Uniforms Transportation Computer  access Supplementary expenses Books Supplies Equipment  Room & board if  at least half-time student  Expenses for special needs services Books Supplies Equipment  Room & board if  at least half-time student  Expenses for special needs services Payments to Coverdell ESA  Payments to QTP Books Supplies Equipment Transportation  Travel  Other necessary expenses   Scholarships,  Fellowships, Grants, and  Tuition  Reductions American Opportunity Credit Lifetime Learning Credit Student Loan Interest Deduction Tuition and Fees Deduction Coverdell ESA† Qualified Tuition Program (QTP)† Education Exception to Additional Tax on Early IRA Distributions† Education Savings Bond Program† Employer- Provided Educational Assistance† Business Deduction for Work-Related Education What education qualifies? Undergraduate & graduate  K–12 Undergraduate & graduate Undergraduate & graduate  Courses to acquire or improve job skills    Undergraduate & graduate Undergraduate & graduate Undergraduate & graduate  K–12 Undergraduate & graduate Undergraduate & graduate Undergraduate & graduate Undergraduate & graduate Required by employer or law to keep present job, salary, status  Maintain or improve job skills What are some of the other  conditions that  apply? Must be in degree or vocational program  Payment of tuition and required fees must be allowed under the grant Can be claimed for only 4 tax years (which includes years Hope Scholarship Credit claimed)  Must be enrolled at least half-time in degree program  No felony drug conviction(s)  Must not have completed first 4 years of postsecondary education before end of preceding tax year. Irs tax forms 2012 1040a   No other conditions Must have been at least half-time  student in degree program Cannot claim both deduction & education credit for same student in same year Assets must be distributed at age 30 unless special  needs beneficiary No other conditions No other conditions Applies only to qualified series  EE bonds issued after 1989 or series I bonds No other conditions Cannot be to  meet minimum educational requirements of present trade/business  Cannot qualify  you for new trade/business   In what income  range do benefits  phase out? No phaseout $80,000 – $90,000  $160,000 – $180,000 for joint returns $53,000 – $63,000  $107,000 – $127,000 for joint returns $60,000 – $75,000  $125,000 –  $155,000 for  joint returns  $60,000 – $80,000  $130,000 –  $160,000 for  joint returns  $95,000 – $110,000  $190,000 – $220,000 for  joint returns No phaseout No phaseout   No phaseout No phaseout † Any nontaxable distribution is limited to the amount that does not exceed qualified education expenses. Irs tax forms 2012 1040a Glossary The education benefits included in this publication were enacted over many years, leading to a number of common terms being defined differently from one benefit to the next. Irs tax forms 2012 1040a For example, an eligible educational institution means one thing when determining if earnings from a Coverdell education savings account are not taxable and something else when determining if a scholarship or fellowship is not taxable. Irs tax forms 2012 1040a For each term listed below that has more than one definition, the definition for each education benefit is listed. Irs tax forms 2012 1040a Academic period:   A semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Irs tax forms 2012 1040a If an educational institution uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Irs tax forms 2012 1040a Adjusted qualified education expenses (AQEE):    Qualified education expenses (defined later) reduced by any tax-free educational assistance, such as a tax-free scholarship or employer-provided educational assistance. Irs tax forms 2012 1040a They must also be reduced by any qualified education expenses deducted elsewhere on your return, used to determine an education credit or other benefit, or used to determine a tax-free distribution. Irs tax forms 2012 1040a For information on a specific benefit, see the appropriate chapter in this publication. Irs tax forms 2012 1040a Candidate for a degree:   A student who meets either of the following requirements. Irs tax forms 2012 1040a Attends a primary or secondary school or pursues a degree at a college or university, or Attends an accredited educational institution that is authorized to provide: A program that is acceptable for full credit toward a bachelor's or higher degree, or A program of training to prepare students for gainful employment in a recognized occupation. Irs tax forms 2012 1040a Designated beneficiary:   The individual named in the document creating the account/plan who is to receive the benefit of the funds in the account/plan. Irs tax forms 2012 1040a Eligible educational institution:    American opportunity credit. Irs tax forms 2012 1040a Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Irs tax forms 2012 1040a It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Irs tax forms 2012 1040a Coverdell education savings account (ESA). Irs tax forms 2012 1040a Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Irs tax forms 2012 1040a It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Irs tax forms 2012 1040a Also included is any public, private, or religious school that provides elementary or secondary education (kindergarten through grade 12), as determined under state law. Irs tax forms 2012 1040a Education savings bond program. Irs tax forms 2012 1040a Same as American opportunity credit in this category. Irs tax forms 2012 1040a IRA, early distributions from. Irs tax forms 2012 1040a Same as American opportunity credit in this category. Irs tax forms 2012 1040a Lifetime learning credit. Irs tax forms 2012 1040a Same as American opportunity credit in this category. Irs tax forms 2012 1040a Qualified tuition program (QTP). Irs tax forms 2012 1040a Same as American opportunity credit in this category. Irs tax forms 2012 1040a Scholarships and fellowships. Irs tax forms 2012 1040a An institution that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities. Irs tax forms 2012 1040a Student loan, cancellation of. Irs tax forms 2012 1040a Same as Scholarships and fellowships in this category. Irs tax forms 2012 1040a Student loan interest deduction. Irs tax forms 2012 1040a Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Irs tax forms 2012 1040a It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Irs tax forms 2012 1040a Also included is an institution that conducts an internship or residency program leading to a degree or certificate from an institution of higher education, a hospital, or a health care facility that offers postgraduate training. Irs tax forms 2012 1040a Tuition and fees deduction. Irs tax forms 2012 1040a Same as American opportunity credit in this category. Irs tax forms 2012 1040a Eligible student:    American opportunity credit. Irs tax forms 2012 1040a A student who meets all of the following requirements for the tax year for which the credit is being determined. Irs tax forms 2012 1040a Did not have expenses that were used to figure an American opportunity or Hope Scholarship Credit in any 4 earlier tax years. Irs tax forms 2012 1040a Had not completed the first 4 years of postsecondary education (generally the freshman through senior years). Irs tax forms 2012 1040a For at least one academic period beginning in the tax year, was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential at an eligible educational institution. Irs tax forms 2012 1040a Was free of any federal or state felony conviction for possessing or distributing a controlled substance as of the end of the tax year. Irs tax forms 2012 1040a Lifetime learning credit. Irs tax forms 2012 1040a A student who is enrolled in one or more courses at an eligible educational institution. Irs tax forms 2012 1040a Student loan interest deduction. Irs tax forms 2012 1040a A student who was enrolled at least half-time in a program leading to a postsecondary degree, certificate, or other recognized educational credential at an eligible educational institution. Irs tax forms 2012 1040a Tuition and fees deduction. Irs tax forms 2012 1040a A student who is enrolled in one or more courses at an eligible educational institution. Irs tax forms 2012 1040a Half-time student:   A student who is enrolled for at least half the full-time academic work load for the course of study the student is pursuing, as determined under the standards of the school where the student is enrolled. Irs tax forms 2012 1040a Modified adjusted gross income (MAGI):    American opportunity credit. Irs tax forms 2012 1040a Adjusted gross income (AGI) as figured on the federal income tax return, modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Irs tax forms 2012 1040a Coverdell education savings account (ESA). Irs tax forms 2012 1040a Same as American opportunity credit in this category. Irs tax forms 2012 1040a Education savings bond program. Irs tax forms 2012 1040a Adjusted gross income (AGI) as figured on the federal income tax return without taking into account any savings bond interest exclusion and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, Exclusion of income by bona fide residents of Puerto Rico, Exclusion for adoption benefits received under an employer's adoption assistance program, Deduction for student loan interest, Deduction for tuition and fees, and Deduction for domestic production activities. Irs tax forms 2012 1040a Lifetime learning credit. Irs tax forms 2012 1040a Same as American opportunity credit in this category. Irs tax forms 2012 1040a Student loan interest deduction. Irs tax forms 2012 1040a Adjusted gross income (AGI) as figured on the federal income tax return without taking into account any student loan interest deduction, tuition and fees deduction, or domestic production activities deduction, and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Irs tax forms 2012 1040a Tuition and fees deduction. Irs tax forms 2012 1040a Adjusted gross income (AGI) as figured on the federal income tax return without taking into account any tuition and fees deduction, or domestic production activities deduction, and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Irs tax forms 2012 1040a Phaseout:   The amount of credit or deduction allowed is reduced when modified adjusted gross income (MAGI) is greater than a specified amount of income. Irs tax forms 2012 1040a Qualified education expenses:   See pertinent chapter for specific items. Irs tax forms 2012 1040a    American opportunity credit. Irs tax forms 2012 1040a Tuition and certain related expenses (including student activity fees) required for enrollment or attendance at an eligible educational institution. Irs tax forms 2012 1040a Books, supplies, and equipment needed for a course of study are included even if not purchased from the educational institution. Irs tax forms 2012 1040a Does not include expenses for room and board. Irs tax forms 2012 1040a Does not include expenses for courses involving sports, games, or hobbies (including noncredit courses) that are not part of the student's postsecondary degree program. Irs tax forms 2012 1040a Coverdell education savings account (ESA). Irs tax forms 2012 1040a Expenses related to or required for enrollment or attendance of the designated beneficiary at an eligible elementary, secondary, or postsecondary school. Irs tax forms 2012 1040a Many specialized expenses included for K–12. Irs tax forms 2012 1040a Also includes expenses for special needs services and contribution to qualified tuition program (QTP). Irs tax forms 2012 1040a Education savings bond program. Irs tax forms 2012 1040a Tuition and fees required to enroll at or attend an eligible educational institution. Irs tax forms 2012 1040a Also includes contributions to a qualified tuition program (QTP) or Coverdell education savings account (ESA). Irs tax forms 2012 1040a Does not include expenses for room and board. Irs tax forms 2012 1040a Does not include expenses for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. Irs tax forms 2012 1040a IRA, early distributions from. Irs tax forms 2012 1040a Tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution, plus certain limited costs of room and board for students who are enrolled at least half-time. Irs tax forms 2012 1040a Also includes expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance. Irs tax forms 2012 1040a Lifetime learning credit. Irs tax forms 2012 1040a Tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Irs tax forms 2012 1040a Student-activity fees and expenses for course-related books, supplies, and equipment are included only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. Irs tax forms 2012 1040a Does not include expenses for room and board. Irs tax forms 2012 1040a Does not include expenses for courses involving sports, games, or hobbies (including noncredit courses) that are not part of the student's postsecondary degree program, unless taken by the student to acquire or improve job skills. Irs tax forms 2012 1040a Qualified tuition program (QTP). Irs tax forms 2012 1040a Tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution, plus certain limited costs of room and board for students who are enrolled at least half-time. Irs tax forms 2012 1040a Includes expenses for special needs services and computer access. Irs tax forms 2012 1040a Scholarships and fellowships. Irs tax forms 2012 1040a Expenses for tuition and fees required to enroll at or attend an eligible educational institution, and course-related expenses, such as fees, books, supplies, and equipment that are required for the courses at the eligible educational institution. Irs tax forms 2012 1040a Course-related items must be required of all students in the course of instruction. Irs tax forms 2012 1040a Student loan interest deduction. Irs tax forms 2012 1040a Total costs of attending an eligible educational institution, including graduate school (however, limitations may apply to the cost of room and board allowed). Irs tax forms 2012 1040a Tuition and fees deduction. Irs tax forms 2012 1040a Tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Irs tax forms 2012 1040a Student-activity fees and expenses for course-related books, supplies, and equipment are included only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. Irs tax forms 2012 1040a Recapture:   To include as income on your current year's return an amount allowed as a deduction in a prior year. Irs tax forms 2012 1040a To include as tax on your current year's return an amount allowed as a credit in a prior year. Irs tax forms 2012 1040a Rollover:   A tax-free distribution to you of cash or other assets from a tax-favored plan that you contribute to another tax-favored plan. Irs tax forms 2012 1040a Transfer:   A movement of funds in a tax-favored plan from one trustee directly to another, either at your request or at the trustee's request. Irs tax forms 2012 1040a Prev  Up  Next   Home   More Online Publications