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Printable 2011 Tax Forms

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Printable 2011 Tax Forms

Printable 2011 tax forms Index A Abroad, citizens living, filing requirements, U. Printable 2011 tax forms S. Printable 2011 tax forms Citizens or Resident Aliens Living Abroad Absence, temporary, Temporary absences. Printable 2011 tax forms , Temporary absences. Printable 2011 tax forms , Temporary absences. Printable 2011 tax forms Accounting periods, joint returns, Accounting period. Printable 2011 tax forms Adopted child, Exception for adopted child. Printable 2011 tax forms , Adopted child. Printable 2011 tax forms , Adopted child. Printable 2011 tax forms Taxpayer identification number, Taxpayer identification numbers for adoptees. Printable 2011 tax forms Age Filing status determination, Age. Printable 2011 tax forms Gross income and filing requirements (Table 1), Table 1. Printable 2011 tax forms 2013 Filing Requirements Chart for Most Taxpayers Standard deduction for age 65 or older, Higher Standard Deduction for Age (65 or Older) Test, Age Test Aliens Dual-status (see Dual-status taxpayers) Nonresident (see Nonresident aliens) Alimony, Alimony. Printable 2011 tax forms Alternative minimum tax (AMT), effect on filing requirements (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Amended returns, Joint Return After Separate Returns, Changing your mind. Printable 2011 tax forms (see also Form 1040X) Change from itemized to standard deduction (or vice versa), Electing to itemize for state tax or other purposes. Printable 2011 tax forms American citizens abroad, U. Printable 2011 tax forms S. Printable 2011 tax forms Citizens or Resident Aliens Living Abroad Annulled marriages, filing status, Annulled marriages. Printable 2011 tax forms Armed forces Combat zone, signing return for spouse, Spouse in combat zone. Printable 2011 tax forms Dependency allotments, Armed Forces dependency allotments. Printable 2011 tax forms GI Bill benefits, Tuition payments and allowances under the GI Bill. Printable 2011 tax forms Military quarters allotments, Tax-exempt military quarters allowances. Printable 2011 tax forms Assistance (see Tax help) ATINs (Adoption taxpayer identification numbers), Taxpayer identification numbers for adoptees. Printable 2011 tax forms B Birth of child, Death or birth. Printable 2011 tax forms Blind persons, standard deduction, Higher Standard Deduction for Blindness C Canada, resident of, U. Printable 2011 tax forms S. Printable 2011 tax forms citizen or resident alien. Printable 2011 tax forms , Citizen or Resident Test, Child in Canada or Mexico. Printable 2011 tax forms Capital expenses, Capital expenses. Printable 2011 tax forms Child born alive, Child born alive. Printable 2011 tax forms Child care expenses, Child care expenses. Printable 2011 tax forms Child custody, Custodial parent and noncustodial parent. Printable 2011 tax forms Child support under pre-1985 agreement, Child support under pre-1985 agreement. Printable 2011 tax forms Child tax credit, Child tax credit. Printable 2011 tax forms Child, qualifying, Qualifying Child Children Adopted child (see Adoption) Adoption (see Adopted child) Birth of child, Death or birth. Printable 2011 tax forms , Death or birth. Printable 2011 tax forms Claiming parent, when child is head of household, Special rule for parent. Printable 2011 tax forms Custody of, Custodial parent and noncustodial parent. Printable 2011 tax forms Death of child, Death or birth. Printable 2011 tax forms , Death or birth. Printable 2011 tax forms Dividends of, Unearned income. Printable 2011 tax forms Filing requirements as dependents (Table 2), Table 2. Printable 2011 tax forms 2013 Filing Requirements for Dependents Investment income of child under age 18, Table 2. Printable 2011 tax forms 2013 Filing Requirements for Dependents , Unearned income. Printable 2011 tax forms Kidnapped, Kidnapped child. Printable 2011 tax forms , Kidnapped child. Printable 2011 tax forms Social security number, Social Security Numbers for Dependents Stillborn, Stillborn child. Printable 2011 tax forms Church employees, filing requirements (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Citizen or resident test, Citizen or Resident Test Citizens outside U. Printable 2011 tax forms S. Printable 2011 tax forms , filing requirements, U. Printable 2011 tax forms S. Printable 2011 tax forms Citizens or Resident Aliens Living Abroad Common law marriage, Considered married. Printable 2011 tax forms Community property states, Community property states. Printable 2011 tax forms Cousin, Cousin. Printable 2011 tax forms Custody of child, Custodial parent and noncustodial parent. Printable 2011 tax forms D Death Of child, Death or birth of child. Printable 2011 tax forms Of dependent, Death or birth. Printable 2011 tax forms , Death or birth. Printable 2011 tax forms Of spouse, Spouse died during the year. Printable 2011 tax forms , Spouse died. Printable 2011 tax forms , Spouse died before signing. Printable 2011 tax forms , Death of spouse. Printable 2011 tax forms Decedents, Spouse died during the year. Printable 2011 tax forms , Decedent's final return. Printable 2011 tax forms (see also Death of spouse) Filing requirements, Deceased Persons Deductions Personal exemption, Personal Exemptions Standard deduction, Standard Deduction Dependent taxpayer test, Dependent Taxpayer Test Dependents Birth of, Death or birth. Printable 2011 tax forms Born and died within year, Born and died in 2013. Printable 2011 tax forms Child's earnings, Child's earnings. Printable 2011 tax forms Death of, Death or birth. Printable 2011 tax forms Earned income, Earned income. Printable 2011 tax forms Exemption for, Exemptions for Dependents Filing requirements, Table 2. Printable 2011 tax forms 2013 Filing Requirements for Dependents , Dependents Married, filing joint return, Joint Return Test, Joint Return Test (To Be a Qualifying Child) Not allowed to claim dependents, Dependent Taxpayer Test Qualifying child, Qualifying Child Qualifying relative, Qualifying Relative Social security number, Social Security Numbers for Dependents, Taxpayer identification numbers for adoptees. Printable 2011 tax forms Standard deduction for, Standard Deduction for Dependents Unearned income, Unearned income. Printable 2011 tax forms Disabled Child, Permanently and totally disabled. Printable 2011 tax forms Dependent, Disabled dependent working at sheltered workshop. Printable 2011 tax forms Divorced parents, Children of divorced or separated parents (or parents who live apart). Printable 2011 tax forms Divorced taxpayers Child custody, Custodial parent and noncustodial parent. Printable 2011 tax forms Filing status, Divorced persons. Printable 2011 tax forms , Divorce and remarriage. Printable 2011 tax forms , Divorced persons. Printable 2011 tax forms Joint returns, responsibility for, Divorced taxpayer. Printable 2011 tax forms Personal exemption, Divorced or separated spouse. Printable 2011 tax forms Domestic help, no exemption for, Housekeepers, maids, or servants. Printable 2011 tax forms Dual-status taxpayers Exemptions, Dual-status taxpayers. Printable 2011 tax forms Joint returns not available, Nonresident alien or dual-status alien. Printable 2011 tax forms E Earned income Defined for purposes of standard deduction, Earned income defined. Printable 2011 tax forms Dependent filing requirements (Table 2), Table 2. Printable 2011 tax forms 2013 Filing Requirements for Dependents Earned income credit Two persons with same qualifying child, Special Rule for Qualifying Child of More Than One Person Elderly persons Home for the aged, Home for the aged. Printable 2011 tax forms Standard deduction for age 65 or older, Higher Standard Deduction for Age (65 or Older) Equitable relief, Innocent spouse, Relief from joint responsibility. Printable 2011 tax forms Exemptions, Exemptions, Taxpayer identification numbers for adoptees. Printable 2011 tax forms Dependents, Exemptions for Dependents Personal (see Personal exemption) F Fair rental value, Fair rental value defined. Printable 2011 tax forms Figures (see Tables and figures) Filing requirements, Who Must File, Filing Status Filing status, Filing Status, Qualifying Widow(er) With Dependent Child Annulled marriages, Annulled marriages. Printable 2011 tax forms Change to Joint return after separate returns, Joint Return After Separate Returns Separate returns after joint return, Separate Returns After Joint Return, Kidnapped child. Printable 2011 tax forms Determination of, Filing status. Printable 2011 tax forms , Filing Status Head of household, Head of household or qualifying widow(er) with dependent child. Printable 2011 tax forms , Head of Household Marital status, determination of, Marital Status Married filing jointly (see Joint returns) Married filing separately (see Married filing separately) Unmarried persons (see Single taxpayers) Food benefits, Support provided by the state (welfare, food benefits, housing, etc. Printable 2011 tax forms ). Printable 2011 tax forms Foreign employment, filing requirements, U. Printable 2011 tax forms S. Printable 2011 tax forms Citizens or Resident Aliens Living Abroad Foreign students, Foreign students' place of residence. Printable 2011 tax forms Form 1040 Personal exemption, Form 1040 filers. Printable 2011 tax forms Social security numbers, Social Security Numbers for Dependents Use of, How to file. Printable 2011 tax forms , How to file. Printable 2011 tax forms , How to file. Printable 2011 tax forms Form 1040A Personal exemption, Form 1040A filers. Printable 2011 tax forms Social security numbers, Social Security Numbers for Dependents Use of, How to file. Printable 2011 tax forms , How to file. Printable 2011 tax forms , How to file. Printable 2011 tax forms Form 1040EZ Personal exemption, Form 1040EZ filers. Printable 2011 tax forms Use of, How to file. Printable 2011 tax forms , How to file. Printable 2011 tax forms Form 1040X Change of filing status, Joint Return After Separate Returns Itemized deductions, change to standard deduction, Changing your mind. Printable 2011 tax forms Standard deduction, change to itemized deductions, Changing your mind. Printable 2011 tax forms Form 1099-B, Form 1099-B received. Printable 2011 tax forms Form 8814, parents' election to report child's interest and dividends, Election to report child's unearned income on parent's return. Printable 2011 tax forms Form 8857, innocent spouse relief, Relief from joint responsibility. Printable 2011 tax forms Form SS-5, social security number request, No SSN. Printable 2011 tax forms Form W-7, individual taxpayer identification number request, Taxpayer identification numbers for aliens. Printable 2011 tax forms Form W-7A, adoption taxpayer identification number request, Taxpayer identification numbers for adoptees. Printable 2011 tax forms Foster care payments and expenses, Foster care payments and expenses. Printable 2011 tax forms , Foster care. Printable 2011 tax forms Foster child, Foster child. Printable 2011 tax forms , Foster care payments and expenses. Printable 2011 tax forms , Foster child. Printable 2011 tax forms , Foster care. Printable 2011 tax forms Free tax services, Free help with your tax return. Printable 2011 tax forms Funeral expenses, Do Not Include in Total Support G GI Bill benefits, Tuition payments and allowances under the GI Bill. Printable 2011 tax forms Gross income Defined, Gross income. Printable 2011 tax forms Filing requirements (Table 1), Table 1. Printable 2011 tax forms 2013 Filing Requirements Chart for Most Taxpayers Dependent filing requirements (Table 2), Table 2. Printable 2011 tax forms 2013 Filing Requirements for Dependents Test, Gross Income Test Group-term life insurance, Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return H Head of household, Head of Household, Kidnapped child. Printable 2011 tax forms Exemption for spouse, Head of household. Printable 2011 tax forms Filing requirements (Table 1), Table 1. Printable 2011 tax forms 2013 Filing Requirements Chart for Most Taxpayers Health insurance premiums, Medical insurance premiums. Printable 2011 tax forms Help (see Tax help) Home Aged, home for, Home for the aged. Printable 2011 tax forms Cost of keeping up, Keeping Up a Home Household workers, no exemption for, Housekeepers, maids, or servants. Printable 2011 tax forms I Income Gross, Gross Income Test Tax exempt, Tax-exempt income. Printable 2011 tax forms Individual retirement arrangements (IRAs) Filing requirements (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Married filing separately, Individual retirement arrangements (IRAs). Printable 2011 tax forms Individual taxpayer identification numbers (ITINs), Reminders, Taxpayer identification numbers for aliens. Printable 2011 tax forms Innocent spouse relief, Relief from joint responsibility. Printable 2011 tax forms Insurance premiums Life, Do Not Include in Total Support Medical, Medical insurance premiums. Printable 2011 tax forms IRAs (see Individual retirement arrangements (IRAs)) Itemized deductions Changing from standard to itemized deduction (or vice versa), Changing your mind. Printable 2011 tax forms Choosing to itemize, Who Should Itemize Married filing separately, Married persons who filed separate returns. Printable 2011 tax forms When to itemize, When to itemize. Printable 2011 tax forms ITINs (Individual taxpayer identification numbers), Taxpayer identification numbers for aliens. Printable 2011 tax forms J Joint return test, Joint Return Test, Joint Return Test (To Be a Qualifying Child) Joint returns, Married Filing Jointly, Nonresident alien or dual-status alien. Printable 2011 tax forms Dependents on, Joint return. Printable 2011 tax forms Personal exemption, Joint return. Printable 2011 tax forms K Kidnapped children Qualifying child, Kidnapped child. Printable 2011 tax forms Qualifying relative, Kidnapped child. Printable 2011 tax forms Widow(er) with dependent child, Death or birth. Printable 2011 tax forms L Life insurance premiums, Do Not Include in Total Support Local income taxes, itemized deductions, Electing to itemize for state tax or other purposes. Printable 2011 tax forms Local law violated, Local law violated. Printable 2011 tax forms Lodging, Lodging. Printable 2011 tax forms Losses, rental real estate, Rental activity losses. Printable 2011 tax forms M Marital status, determination of, Marital Status Married dependents, filing joint return, Joint Return Test, Joint Return Test (To Be a Qualifying Child) Married filing jointly (see Joint returns) Married filing separately, Married Filing Separately Changing method from or to itemized deductions, Changing your mind. Printable 2011 tax forms Exemption for spouse, Separate return. Printable 2011 tax forms Itemized deductions, Married persons who filed separate returns. Printable 2011 tax forms Married taxpayers, Married Filing Jointly (see also Joint returns) Age 65 or older spouse, standard deduction, Higher Standard Deduction for Age (65 or Older), Spouse 65 or Older or Blind Blind spouse, standard deduction, Higher Standard Deduction for Blindness, Spouse 65 or Older or Blind Dual-status alien spouse, Nonresident alien or dual-status alien. Printable 2011 tax forms Filing status, Married persons. Printable 2011 tax forms Medical insurance premiums, Medical insurance premiums. Printable 2011 tax forms Medical savings accounts (MSAs, effect on filing requirements (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Medicare taxes, not support, Do Not Include in Total Support Member of household or relationship test, Member of Household or Relationship Test Mexico, resident of, U. Printable 2011 tax forms S. Printable 2011 tax forms citizen or resident alien. Printable 2011 tax forms , Citizen or Resident Test, Child in Canada or Mexico. Printable 2011 tax forms Military (see Armed forces) Missing children, photographs of in IRS publications, Reminders Multiple support agreement, Multiple Support Agreement N National of the United States, U. Printable 2011 tax forms S. Printable 2011 tax forms national. Printable 2011 tax forms Nonresident aliens, Nonresident aliens. Printable 2011 tax forms Dependents, Taxpayer identification numbers for aliens. Printable 2011 tax forms Exemptions, Nonresident aliens. Printable 2011 tax forms Joint return, Nonresident alien or dual-status alien. Printable 2011 tax forms Spouse, Nonresident alien spouse. Printable 2011 tax forms Taxpayer identification number, Taxpayer identification numbers for aliens. Printable 2011 tax forms O Overseas taxpayers, U. Printable 2011 tax forms S. Printable 2011 tax forms Citizens or Resident Aliens Living Abroad P Parent, claiming head of household for, Special rule for parent. Printable 2011 tax forms Parents who never married, Parents who never married. Printable 2011 tax forms Parents, divorced or separated, Children of divorced or separated parents (or parents who live apart). Printable 2011 tax forms Penalty, failure to file, Who Must File Personal exemption, Personal Exemptions Photographs of missing children in IRS publications, Reminders Publications (see Tax help) Puerto Rico, residents of, Residents of Puerto Rico Q Qualifying Child, Qualifying Child Relative, Qualifying Relative Surviving spouse, Qualifying Widow(er) With Dependent Child Widow/widower, Qualifying Widow(er) With Dependent Child R Recapture taxes, Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Relationship test, Relationship Test, Member of Household or Relationship Test Relative, qualifying, Qualifying Relative Remarriage after divorce, Divorce and remarriage. Printable 2011 tax forms Rental losses, Rental activity losses. Printable 2011 tax forms Residency test, Residency Test S Same-sex marriage Filing status, Same-sex marriage. Printable 2011 tax forms Scholarships, Earned income. Printable 2011 tax forms , Scholarships. Printable 2011 tax forms , Gross income defined. Printable 2011 tax forms , Do Not Include in Total Support , Earned income defined. Printable 2011 tax forms Self-employed persons Filing requirements (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Gross income, Self-employed persons. Printable 2011 tax forms Separate returns (see Married filing separately) Separated parents, Children of divorced or separated parents (or parents who live apart). Printable 2011 tax forms Separated taxpayers Filing status, Considered married. Printable 2011 tax forms , Married persons living apart. Printable 2011 tax forms Living apart but not legally separated, Considered married. Printable 2011 tax forms Personal exemption, Divorced or separated spouse. Printable 2011 tax forms Signatures, joint returns, Signing a joint return. Printable 2011 tax forms Single taxpayers Filing status, Unmarried persons. Printable 2011 tax forms , Single Gross income filing requirements (Table 1), Table 1. Printable 2011 tax forms 2013 Filing Requirements Chart for Most Taxpayers How to file and forms, How to file. Printable 2011 tax forms Personal exemption, Your Own Exemption Social security and Medicare taxes Reporting of (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Support, not included in, Do Not Include in Total Support Social security benefits, Social security benefits. Printable 2011 tax forms Social security numbers (SSNs) for dependents, Social Security Numbers for Dependents Spouse Deceased, Spouse died. Printable 2011 tax forms , Spouse died before signing. Printable 2011 tax forms , Death of spouse. Printable 2011 tax forms Dual-status alien spouse, Nonresident alien or dual-status alien. Printable 2011 tax forms Exemption for, Your Spouse's Exemption Innocent spouse relief, Relief from joint responsibility. Printable 2011 tax forms Nonresident alien, Nonresident alien spouse. Printable 2011 tax forms Signing joint returns, Signing a joint return. Printable 2011 tax forms Surviving (see Surviving spouse) SSNs (see Social security numbers (SSNs) for dependents) Standard deduction, What's New, Standard Deduction, Married persons who filed separate returns. Printable 2011 tax forms Married filing jointly, Married Filing Jointly State or local income taxes, Electing to itemize for state tax or other purposes. Printable 2011 tax forms Stillborn child, Stillborn child. Printable 2011 tax forms Students Defined, Student defined. Printable 2011 tax forms Foreign, Foreign students' place of residence. Printable 2011 tax forms Support test Qualifying child, Support Test (To Be a Qualifying Child) Qualifying relative, Support Test (To Be a Qualifying Relative) Surviving spouse Death of spouse (see Death of spouse) Gross income filing requirements (Table 1), Table 1. Printable 2011 tax forms 2013 Filing Requirements Chart for Most Taxpayers Single filing status, Widow(er). Printable 2011 tax forms Widow(er) with dependent child, Qualifying Widow(er) With Dependent Child, How to file. Printable 2011 tax forms , Death or birth. Printable 2011 tax forms T Tables and figures, Keeping Up a Home, Worksheet 2. Printable 2011 tax forms Worksheet for Determining Support (see also Worksheets) Filing requirements Dependents (Table 2), Table 2. Printable 2011 tax forms 2013 Filing Requirements for Dependents Gross income levels (Table 1), Table 1. Printable 2011 tax forms 2013 Filing Requirements Chart for Most Taxpayers Other situations requiring filing (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Tax help, How To Get Tax Help Tax returns Amended (see Form 1040X) Filing of (see Filing requirements) Joint returns (see Joint returns) Who must file, What's New, Who Must File, Filing Requirements for Most Taxpayers, Who Should File Tax-exempt income, Tax-exempt income. Printable 2011 tax forms Taxes, not support, Do Not Include in Total Support Temporary absences, Temporary absences. Printable 2011 tax forms , Temporary absences. Printable 2011 tax forms Tiebreaker rules, Tiebreaker rules. Printable 2011 tax forms Tips, reporting of (Table 3), Table 3. Printable 2011 tax forms Other Situations When You Must File a 2013 Return Total support, Total Support Tuition, benefits under GI Bill, Tuition payments and allowances under the GI Bill. Printable 2011 tax forms U U. Printable 2011 tax forms S. Printable 2011 tax forms citizen or resident, Citizen or Resident Test U. Printable 2011 tax forms S. Printable 2011 tax forms citizens filing abroad, filing requirements Filing requirements, U. Printable 2011 tax forms S. Printable 2011 tax forms Citizens or Resident Aliens Living Abroad U. Printable 2011 tax forms S. Printable 2011 tax forms national, U. Printable 2011 tax forms S. Printable 2011 tax forms national. Printable 2011 tax forms U. Printable 2011 tax forms S. Printable 2011 tax forms possessions, income from, Individuals With Income From U. Printable 2011 tax forms S. Printable 2011 tax forms Possessions Unmarried persons (see Single taxpayers) W Welfare benefits, Support provided by the state (welfare, food benefits, housing, etc. Printable 2011 tax forms ). Printable 2011 tax forms What's New, What's New Widow/widower (see Surviving spouse) Worksheets Exemption Phaseout, Worksheet 3. Printable 2011 tax forms Worksheet for Determining the Deduction for Exemptions Head of household status and cost of keeping up home, Keeping Up a Home Support test, Worksheet 2. Printable 2011 tax forms Worksheet for Determining Support Prev  Up     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 Printable 2011 Tax Forms

Printable 2011 tax forms 17. Printable 2011 tax forms   Individual Retirement Arrangements (IRAs) Table of Contents What's New Reminders Introduction Useful Items - You may want to see: Traditional IRAsWho Can Open a Traditional IRA? When and How Can a Traditional IRA Be Opened? How Much Can Be Contributed? When Can Contributions Be Made? How Much Can You Deduct? Nondeductible Contributions Inherited IRAs Can You Move Retirement Plan Assets? When Can You Withdraw or Use IRA Assets? When Must You Withdraw IRA Assets? (Required Minimum Distributions) Are Distributions Taxable? What Acts Result in Penalties or Additional Taxes? Roth IRAsWhat Is a Roth IRA? When Can a Roth IRA Be Opened? Can You Contribute to a Roth IRA? Can You Move Amounts Into a Roth IRA? Are Distributions Taxable? What's New Traditional IRA contribution and deduction limit. Printable 2011 tax forms  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. Printable 2011 tax forms 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. Printable 2011 tax forms For more information, see How Much Can Be Contributed? later. Printable 2011 tax forms Roth IRA contribution limit. Printable 2011 tax forms  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. Printable 2011 tax forms 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. Printable 2011 tax forms However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced. Printable 2011 tax forms For more information, see How Much Can Be Contributed? under Can You Contribute to a Roth IRA? later. Printable 2011 tax forms Modified AGI limit for traditional IRA contributions increased. Printable 2011 tax forms  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. Printable 2011 tax forms 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. Printable 2011 tax forms If your modified AGI is $188,000 or more, you cannot take a deduction for contributions to a traditional IRA. Printable 2011 tax forms See How Much Can You Deduct , later. Printable 2011 tax forms Modified AGI limit for Roth IRA contributions increased. Printable 2011 tax forms  For 2013, your Roth IRA contribution limit is reduced (phased out) in the following situations. Printable 2011 tax forms Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $178,000. Printable 2011 tax forms You cannot make a Roth IRA contribution if your modified AGI is $188,000 or more. Printable 2011 tax forms 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. Printable 2011 tax forms You cannot make a Roth IRA contribution if your modified AGI is $127,000 or more. Printable 2011 tax forms 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-. Printable 2011 tax forms You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Printable 2011 tax forms See Can You Contribute to a Roth IRA , later. Printable 2011 tax forms Net Investment Income Tax. Printable 2011 tax forms   For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan including IRAs (for example; 401(a), 403(a), 403(b), 408, 408A, or 457(b) plans). Printable 2011 tax forms However, these distributions are taken into account when determining the modified adjusted gross income threshold. Printable 2011 tax forms Distributions from a nonqualified retirement plan are included in net investment income. Printable 2011 tax forms See Form 8960, Net Investment Income Tax - Individuals, Estates, and Trusts, and its instructions for more information. Printable 2011 tax forms Name change. Printable 2011 tax forms  All spousal IRAs have been renamed Kay Bailey Hutchison Spousal IRAs. Printable 2011 tax forms There are no changes to the rules regarding these IRAs. Printable 2011 tax forms See Kay Bailey Hutchison Spousal IRA Limit , later, for more information. Printable 2011 tax forms Reminders 2014 limits. Printable 2011 tax forms   You can find information about the 2014 contribution and AGI limits in Publication 590. Printable 2011 tax forms Contributions to both traditional and Roth IRAs. Printable 2011 tax forms   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 Roth IRAs, later. Printable 2011 tax forms Statement of required minimum distribution. Printable 2011 tax forms  If a minimum distribution from your IRA is required, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the required minimum distribution to you, or offer to calculate it for you. Printable 2011 tax forms The report or offer must include the date by which the amount must be distributed. Printable 2011 tax forms The report is due January 31 of the year in which the minimum distribution is required. Printable 2011 tax forms It can be provided with the year-end fair market value statement that you normally get each year. Printable 2011 tax forms No report is required for IRAs of owners who have died. Printable 2011 tax forms IRA interest. Printable 2011 tax forms  Although interest earned from your IRA is generally not taxed in the year earned, it is not tax-exempt interest. Printable 2011 tax forms Tax on your traditional IRA is generally deferred until you take a distribution. Printable 2011 tax forms Do not report this interest on your tax return as tax-exempt interest. Printable 2011 tax forms Form 8606. Printable 2011 tax forms   To designate contributions as nondeductible, you must file Form 8606, Nondeductible IRAs. Printable 2011 tax forms The term “50 or older” is used several times in this chapter. Printable 2011 tax forms It refers to an IRA owner who is age 50 or older by the end of the tax year. Printable 2011 tax forms Introduction An individual retirement arrangement (IRA) is a personal savings plan that gives you tax advantages for setting aside money for your retirement. Printable 2011 tax forms This chapter discusses the following topics. Printable 2011 tax forms The rules for a traditional IRA (any IRA that is not a Roth or SIMPLE IRA). Printable 2011 tax forms The Roth IRA, which features nondeductible contributions and tax-free distributions. Printable 2011 tax forms Simplified Employee Pensions (SEPs) and Savings Incentive Match Plans for Employees (SIMPLEs) are not discussed in this chapter. Printable 2011 tax forms For more information on these plans and employees' SEP IRAs and SIMPLE IRAs that are part of these plans, see Publications 560 and 590. Printable 2011 tax forms For information about contributions, deductions, withdrawals, transfers, rollovers, and other transactions, see Publication 590. Printable 2011 tax forms Useful Items - You may want to see: Publication 560 Retirement Plans for Small Business 590 Individual Retirement Arrangements (IRAs) Form (and Instructions) 5329 Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts 8606 Nondeductible IRAs Traditional IRAs In this chapter, the original IRA (sometimes called an ordinary or regular IRA) is referred to as a “traditional IRA. Printable 2011 tax forms ” A traditional IRA is any IRA that is not a Roth IRA or a SIMPLE IRA. Printable 2011 tax forms Two advantages of a traditional IRA are: You may be able to deduct some or all of your contributions to it, depending on your circumstances, and Generally, amounts in your IRA, including earnings and gains, are not taxed until they are distributed. Printable 2011 tax forms Who Can Open a Traditional IRA? You can open and make contributions to a traditional IRA if: You (or, if you file a joint return, your spouse) received taxable compensation during the year, and You were not age 70½ by the end of the year. Printable 2011 tax forms What is compensation?   Generally, compensation is what you earn from working. Printable 2011 tax forms Compensation includes wages, salaries, tips, professional fees, bonuses, and other amounts you receive for providing personal services. Printable 2011 tax forms The IRS treats as compensation any amount properly shown in box 1 (Wages, tips, other compensation) of Form W-2, Wage and Tax Statement, provided that amount is reduced by any amount properly shown in box 11 (Nonqualified plans). Printable 2011 tax forms   Scholarship and fellowship payments are compensation for this purpose only if shown in box 1 of Form W-2. Printable 2011 tax forms   Compensation also includes commissions and taxable alimony and separate maintenance payments. Printable 2011 tax forms Self-employment income. Printable 2011 tax forms   If you are self-employed (a sole proprietor or a partner), compensation is the net earnings from your trade or business (provided your personal services are a material income-producing factor) reduced by the total of: The deduction for contributions made on your behalf to retirement plans, and The deductible part of your self-employment tax. Printable 2011 tax forms   Compensation includes earnings from self-employment even if they are not subject to self-employment tax because of your religious beliefs. Printable 2011 tax forms Nontaxable combat pay. Printable 2011 tax forms   For IRA purposes, if you were a member of the U. Printable 2011 tax forms S. Printable 2011 tax forms Armed Forces, your compensation includes any nontaxable combat pay you receive. Printable 2011 tax forms What is not compensation?   Compensation does not include any of the following items. Printable 2011 tax forms Earnings and profits from property, such as rental income, interest income, and dividend income. Printable 2011 tax forms Pension or annuity income. Printable 2011 tax forms Deferred compensation received (compensation payments postponed from a past year). Printable 2011 tax forms Income from a partnership for which you do not provide services that are a material income-producing factor. Printable 2011 tax forms Conservation Reserve Program (CRP) payments reported on Schedule SE (Form 1040), line 1b. Printable 2011 tax forms Any amounts (other than combat pay) you exclude from income, such as foreign earned income and housing costs. Printable 2011 tax forms When and How Can a Traditional IRA Be Opened? You can open a traditional IRA at any time. Printable 2011 tax forms However, the time for making contributions for any year is limited. Printable 2011 tax forms See When Can Contributions Be Made , later. Printable 2011 tax forms You can open different kinds of IRAs with a variety of organizations. Printable 2011 tax forms You can open an IRA at a bank or other financial institution or with a mutual fund or life insurance company. Printable 2011 tax forms You can also open an IRA through your stockbroker. Printable 2011 tax forms Any IRA must meet Internal Revenue Code requirements. Printable 2011 tax forms Kinds of traditional IRAs. Printable 2011 tax forms   Your traditional IRA can be an individual retirement account or annuity. Printable 2011 tax forms It can be part of either a simplified employee pension (SEP) or an employer or employee association trust account. Printable 2011 tax forms How Much Can Be Contributed? There are limits and other rules that affect the amount that can be contributed to a traditional IRA. Printable 2011 tax forms These limits and other rules are explained below. Printable 2011 tax forms Community property laws. Printable 2011 tax forms   Except as discussed later under Kay Bailey Hutchison Spousal IRA limit , each spouse figures his or her limit separately, using his or her own compensation. Printable 2011 tax forms This is the rule even in states with community property laws. Printable 2011 tax forms Brokers' commissions. Printable 2011 tax forms   Brokers' commissions paid in connection with your traditional IRA are subject to the contribution limit. Printable 2011 tax forms Trustees' fees. Printable 2011 tax forms   Trustees' administrative fees are not subject to the contribution limit. Printable 2011 tax forms Qualified reservist repayments. Printable 2011 tax forms   If you are (or were) a member of a reserve component and you were ordered or called to active duty after September 11, 2001, you may be able to contribute (repay) to an IRA amounts equal to any qualified reservist distributions you received. Printable 2011 tax forms You can make these repayment contributions even if they would cause your total contributions to the IRA to be more than the general limit on contributions. Printable 2011 tax forms To be eligible to make these repayment contributions, you must have received a qualified reservist distribution from an IRA or from a section 401(k) or 403(b) plan or similar arrangement. Printable 2011 tax forms   For more information, see Qualified reservist repayments under How Much Can Be Contributed? in chapter 1 of Publication 590. Printable 2011 tax forms Contributions on your behalf to a traditional IRA reduce your limit for contributions to a Roth IRA. Printable 2011 tax forms (See Roth IRAs, later. Printable 2011 tax forms ) General limit. Printable 2011 tax forms   For 2013, the most that can be contributed to your traditional IRA generally is the smaller of the following amounts. Printable 2011 tax forms $5,500 ($6,500 if you are 50 or older). Printable 2011 tax forms Your taxable compensation (defined earlier) for the year. Printable 2011 tax forms This is the most that can be contributed regardless of whether the contributions are to one or more traditional IRAs or whether all or part of the contributions are nondeductible. Printable 2011 tax forms (See Nondeductible Contributions , later. Printable 2011 tax forms ) Qualified reservist repayments do not affect this limit. Printable 2011 tax forms Example 1. Printable 2011 tax forms Betty, who is 34 years old and single, earned $24,000 in 2013. Printable 2011 tax forms Her IRA contributions for 2013 are limited to $5,500. Printable 2011 tax forms Example 2. Printable 2011 tax forms John, an unmarried college student working part time, earned $3,500 in 2013. Printable 2011 tax forms His IRA contributions for 2013 are limited to $3,500, the amount of his compensation. Printable 2011 tax forms Kay Bailey Hutchison Spousal IRA limit. Printable 2011 tax forms   For 2013, if you file a joint return and your taxable compensation is less than that of your spouse, the most that can be contributed for the year to your IRA is the smaller of the following amounts. Printable 2011 tax forms $5,500 ($6,500 if you are 50 or older). Printable 2011 tax forms The total compensation includible in the gross income of both you and your spouse for the year, reduced by the following two amounts. Printable 2011 tax forms Your spouse's IRA contribution for the year to a traditional IRA. Printable 2011 tax forms Any contribution for the year to a Roth IRA on behalf of your spouse. Printable 2011 tax forms This means that the total combined contributions that can be made for the year to your IRA and your spouse's IRA can be as much as $11,000 ($12,000 if only one of you is 50 or older, or $13,000 if both of you are 50 or older). Printable 2011 tax forms When Can Contributions Be Made? As soon as you open your traditional IRA, contributions can be made to it through your chosen sponsor (trustee or other administrator). Printable 2011 tax forms Contributions must be in the form of money (cash, check, or money order). Printable 2011 tax forms Property cannot be contributed. Printable 2011 tax forms Contributions must be made by due date. Printable 2011 tax forms   Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your return for that year, not including extensions. Printable 2011 tax forms Age 70½ rule. Printable 2011 tax forms   Contributions cannot be made to your traditional IRA for the year in which you reach age 70½ or for any later year. Printable 2011 tax forms   You attain age 70½ on the date that is 6 calendar months after the 70th anniversary of your birth. Printable 2011 tax forms If you were born on or before June 30, 1943, you cannot contribute for 2013 or any later year. Printable 2011 tax forms Designating year for which contribution is made. Printable 2011 tax forms   If an amount is contributed to your traditional IRA between January 1 and April 15, you should tell the sponsor which year (the current year or the previous year) the contribution is for. Printable 2011 tax forms If you do not tell the sponsor which year it is for, the sponsor can assume, and report to the IRS, that the contribution is for the current year (the year the sponsor received it). Printable 2011 tax forms Filing before a contribution is made. Printable 2011 tax forms   You can file your return claiming a traditional IRA contribution before the contribution is actually made. Printable 2011 tax forms Generally, the contribution must be made by the due date of your return, not including extensions. Printable 2011 tax forms Contributions not required. Printable 2011 tax forms   You do not have to contribute to your traditional IRA for every tax year, even if you can. Printable 2011 tax forms How Much Can You Deduct? Generally, you can deduct the lesser of: The contributions to your traditional IRA for the year, or The general limit (or the Kay Bailey Hutchison Spousal IRA limit, if it applies). Printable 2011 tax forms However, if you or your spouse was covered by an employer retirement plan, you may not be able to deduct this amount. Printable 2011 tax forms See Limit If Covered by Employer Plan , later. Printable 2011 tax forms You may be able to claim a credit for contributions to your traditional IRA. Printable 2011 tax forms For more information, see chapter 37. Printable 2011 tax forms Trustees' fees. Printable 2011 tax forms   Trustees' administrative fees that are billed separately and paid in connection with your traditional IRA are not deductible as IRA contributions. Printable 2011 tax forms However, they may be deductible as a miscellaneous itemized deduction on Schedule A (Form 1040). Printable 2011 tax forms See chapter 28. Printable 2011 tax forms Brokers' commissions. Printable 2011 tax forms   Brokers' commissions are part of your IRA contribution and, as such, are deductible subject to the limits. Printable 2011 tax forms Full deduction. Printable 2011 tax forms   If neither you nor your spouse was covered for any part of the year by an employer retirement plan, you can take a deduction for total contributions to one or more traditional IRAs of up to the lesser of: $5,500 ($6,500 if you are age 50 or older in 2013). Printable 2011 tax forms 100% of your compensation. Printable 2011 tax forms This limit is reduced by any contributions made to a 501(c)(18) plan on your behalf. Printable 2011 tax forms Kay Bailey Hutchison Spousal IRA. Printable 2011 tax forms   In the case of a married couple with unequal compensation who file a joint return, the deduction for contributions to the traditional IRA of the spouse with less compensation is limited to the lesser of the following amounts. Printable 2011 tax forms $5,500 ($6,500 if the spouse with the lower compensation is age 50 or older in 2013). Printable 2011 tax forms The total compensation includible in the gross income of both spouses for the year reduced by the following three amounts. Printable 2011 tax forms The IRA deduction for the year of the spouse with the greater compensation. Printable 2011 tax forms Any designated nondeductible contribution for the year made on behalf of the spouse with the greater compensation. Printable 2011 tax forms Any contributions for the year to a Roth IRA on behalf of the spouse with the greater compensation. Printable 2011 tax forms This limit is reduced by any contributions to a 501(c)(18) plan on behalf of the spouse with the lesser compensation. Printable 2011 tax forms Note. Printable 2011 tax forms If you were divorced or legally separated (and did not remarry) before the end of the year, you cannot deduct any contributions to your spouse's IRA. Printable 2011 tax forms After a divorce or legal separation, you can deduct only contributions to your own IRA. Printable 2011 tax forms Your deductions are subject to the rules for single individuals. Printable 2011 tax forms Covered by an employer retirement plan. Printable 2011 tax forms   If you or your spouse was covered by an employer retirement plan at any time during the year for which contributions were made, your deduction may be further limited. Printable 2011 tax forms This is discussed later under Limit If Covered by Employer Plan . Printable 2011 tax forms Limits on the amount you can deduct do not affect the amount that can be contributed. Printable 2011 tax forms See Nondeductible Contributions , later. Printable 2011 tax forms Are You Covered by an Employer Plan? The Form W-2 you receive from your employer has a box used to indicate whether you were covered for the year. Printable 2011 tax forms The “Retirement plan” box should be checked if you were covered. Printable 2011 tax forms Reservists and volunteer firefighters should also see Situations in Which You Are Not Covered by an Employer Plan , later. Printable 2011 tax forms If you are not certain whether you were covered by your employer's retirement plan, you should ask your employer. Printable 2011 tax forms Federal judges. Printable 2011 tax forms   For purposes of the IRA deduction, federal judges are covered by an employer retirement plan. Printable 2011 tax forms For Which Year(s) Are You Covered by an Employer Plan? Special rules apply to determine the tax years for which you are covered by an employer plan. Printable 2011 tax forms These rules differ depending on whether the plan is a defined contribution plan or a defined benefit plan. Printable 2011 tax forms Tax year. Printable 2011 tax forms   Your tax year is the annual accounting period you use to keep records and report income and expenses on your income tax return. Printable 2011 tax forms For almost all people, the tax year is the calendar year. Printable 2011 tax forms Defined contribution plan. Printable 2011 tax forms   Generally, you are covered by a defined contribution plan for a tax year if amounts are contributed or allocated to your account for the plan year that ends with or within that tax year. Printable 2011 tax forms   A defined contribution plan is a plan that provides for a separate account for each person covered by the plan. Printable 2011 tax forms Types of defined contribution plans include profit-sharing plans, stock bonus plans, and money purchase pension plans. Printable 2011 tax forms Defined benefit plan. Printable 2011 tax forms   If you are eligible to participate in your employer's defined benefit plan for the plan year that ends within your tax year, you are covered by the plan. Printable 2011 tax forms This rule applies even if you: Declined to participate in the plan, Did not make a required contribution, or Did not perform the minimum service required to accrue a benefit for the year. Printable 2011 tax forms   A defined benefit plan is any plan that is not a defined contribution plan. Printable 2011 tax forms Defined benefit plans include pension plans and annuity plans. Printable 2011 tax forms No vested interest. Printable 2011 tax forms   If you accrue a benefit for a plan year, you are covered by that plan even if you have no vested interest in (legal right to) the accrual. Printable 2011 tax forms Situations in Which You Are Not Covered by an Employer Plan Unless you are covered under another employer plan, you are not covered by an employer plan if you are in one of the situations described below. Printable 2011 tax forms Social security or railroad retirement. Printable 2011 tax forms   Coverage under social security or railroad retirement is not coverage under an employer retirement plan. Printable 2011 tax forms Benefits from a previous employer's plan. Printable 2011 tax forms   If you receive retirement benefits from a previous employer's plan, you are not covered by that plan. Printable 2011 tax forms Reservists. Printable 2011 tax forms   If the only reason you participate in a plan is because you are a member of a reserve unit of the armed forces, you may not be covered by the plan. Printable 2011 tax forms You are not covered by the plan if both of the following conditions are met. Printable 2011 tax forms The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Printable 2011 tax forms You did not serve more than 90 days on active duty during the year (not counting duty for training). Printable 2011 tax forms Volunteer firefighters. Printable 2011 tax forms   If the only reason you participate in a plan is because you are a volunteer firefighter, you may not be covered by the plan. Printable 2011 tax forms You are not covered by the plan if both of the following conditions are met. Printable 2011 tax forms The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Printable 2011 tax forms Your accrued retirement benefits at the beginning of the year will not provide more than $1,800 per year at retirement. Printable 2011 tax forms Limit If Covered by Employer Plan If either you or your spouse was covered by an employer retirement plan, you may be entitled to only a partial (reduced) deduction or no deduction at all, depending on your income and your filing status. Printable 2011 tax forms Your deduction begins to decrease (phase out) when your income rises above a certain amount and is eliminated altogether when it reaches a higher amount. Printable 2011 tax forms These amounts vary depending on your filing status. Printable 2011 tax forms To determine if your deduction is subject to phaseout, you must determine your modified adjusted gross income (AGI) and your filing status. Printable 2011 tax forms See Filing status and Modified adjusted gross income (AGI) , later. Printable 2011 tax forms Then use Table 17-1 or 17-2 to determine if the phaseout applies. Printable 2011 tax forms Social security recipients. Printable 2011 tax forms   Instead of using Table 17-1 or Table 17-2, use the worksheets in Appendix B of Publication 590 if, for the year, all of the following apply. Printable 2011 tax forms You received social security benefits. Printable 2011 tax forms You received taxable compensation. Printable 2011 tax forms Contributions were made to your traditional IRA. Printable 2011 tax forms You or your spouse was covered by an employer retirement plan. Printable 2011 tax forms Use those worksheets to figure your IRA deduction, your nondeductible contribution, and the taxable portion, if any, of your social security benefits. Printable 2011 tax forms Deduction phaseout. Printable 2011 tax forms   If you were covered by an employer retirement plan and you did not receive any social security retirement benefits, your IRA deduction may be reduced or eliminated depending on your filing status and modified AGI as shown in Table 17-1. Printable 2011 tax forms Table 17-1. Printable 2011 tax forms Effect of Modified AGI1 on Deduction if You Are Covered by Retirement Plan at Work If you are covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Printable 2011 tax forms IF your filing status is. Printable 2011 tax forms . Printable 2011 tax forms . Printable 2011 tax forms   AND your modified AGI is. Printable 2011 tax forms . Printable 2011 tax forms . Printable 2011 tax forms   THEN you can take. Printable 2011 tax forms . Printable 2011 tax forms . Printable 2011 tax forms single   or  head of household   $59,000 or less   a full deduction. Printable 2011 tax forms   more than $59,000 but less than $69,000   a partial deduction. Printable 2011 tax forms   $69,000 or more   no deduction. Printable 2011 tax forms married filing jointly   or  qualifying widow(er)   $95,000 or less   a full deduction. Printable 2011 tax forms   more than $95,000 but less than $115,000   a partial deduction. Printable 2011 tax forms   $115,000 or more   no deduction. Printable 2011 tax forms married filing separately2   less than $10,000   a partial deduction. Printable 2011 tax forms   $10,000 or more   no deduction. Printable 2011 tax forms 1Modified AGI (adjusted gross income). Printable 2011 tax forms See Modified adjusted gross income (AGI) . Printable 2011 tax forms 2If you did not live with your spouse at any time during the year, your filing status is considered Single for this purpose (therefore, your IRA deduction is determined under the “Single” column). Printable 2011 tax forms If your spouse is covered. Printable 2011 tax forms   If you are not covered by an employer retirement plan, but your spouse is, and you did not receive any social security benefits, your IRA deduction may be reduced or eliminated entirely depending on your filing status and modified AGI as shown in Table 17-2. Printable 2011 tax forms Filing status. Printable 2011 tax forms   Your filing status depends primarily on your marital status. Printable 2011 tax forms For this purpose, you need to know if your filing status is single or head of household, married filing jointly or qualifying widow(er), or married filing separately. Printable 2011 tax forms If you need more information on filing status, see chapter 2. Printable 2011 tax forms Lived apart from spouse. Printable 2011 tax forms   If you did not live with your spouse at any time during the year and you file a separate return, your filing status, for this purpose, is single. Printable 2011 tax forms Table 17-2. Printable 2011 tax forms Effect of Modified AGI1 on Deduction if You Are NOT Covered by Retirement Plan at Work If you are not covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Printable 2011 tax forms IF your filing status is. Printable 2011 tax forms . Printable 2011 tax forms . Printable 2011 tax forms   AND your modified AGI is. Printable 2011 tax forms . Printable 2011 tax forms . Printable 2011 tax forms   THEN you can take. Printable 2011 tax forms . Printable 2011 tax forms . Printable 2011 tax forms single, head of household, or qualifying widow(er)   any amount   a full deduction. Printable 2011 tax forms married filing jointly or separately with a spouse who is not covered by a plan at work   any amount   a full deduction. Printable 2011 tax forms married filing jointly with a spouse who is covered by a plan at work   $178,000 or less   a full deduction. Printable 2011 tax forms   more than $178,000 but less than $188,000   a partial deduction. Printable 2011 tax forms   $188,000 or more   no deduction. Printable 2011 tax forms married filing separately with a spouse who is covered by a plan at work2   less than $10,000   a partial deduction. Printable 2011 tax forms   $10,000 or more   no deduction. Printable 2011 tax forms 1Modified AGI (adjusted gross income). Printable 2011 tax forms See Modified adjusted gross income (AGI) . Printable 2011 tax forms 2You are entitled to the full deduction if you did not live with your spouse at any time during the year. Printable 2011 tax forms Modified adjusted gross income (AGI). Printable 2011 tax forms   How you figure your modified AGI depends on whether you are filing Form 1040 or Form 1040A. Printable 2011 tax forms If you made contributions to your IRA for 2013 and received a distribution from your IRA in 2013, see Publication 590. Printable 2011 tax forms You may be able to use Worksheet 17-1 to figure your modified AGI. Printable 2011 tax forms    Do not assume that your modified AGI is the same as your compensation. Printable 2011 tax forms Your modified AGI may include income in addition to your compensation (discussed earlier), such as interest, dividends, and income from IRA distributions. Printable 2011 tax forms Form 1040. Printable 2011 tax forms   If you file Form 1040, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following eight amounts. Printable 2011 tax forms IRA deduction. Printable 2011 tax forms Student loan interest deduction. Printable 2011 tax forms Tuition and fees deduction. Printable 2011 tax forms Domestic production activities deduction. Printable 2011 tax forms Foreign earned income exclusion. Printable 2011 tax forms Foreign housing exclusion or deduction. Printable 2011 tax forms Exclusion of qualified savings bond interest shown on Form 8815, Exclusion of Interest From Series EE and I U. Printable 2011 tax forms S. Printable 2011 tax forms Savings Bonds Issued After 1989. Printable 2011 tax forms Exclusion of employer-provided adoption benefits shown on Form 8839, Qualified Adoption Expenses. Printable 2011 tax forms This is your modified AGI. Printable 2011 tax forms Form 1040A. Printable 2011 tax forms   If you file Form 1040A, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following amounts. Printable 2011 tax forms IRA deduction. Printable 2011 tax forms Student loan interest deduction. Printable 2011 tax forms Tuition and fees deduction. Printable 2011 tax forms Exclusion of qualified savings bond interest shown on Form 8815. Printable 2011 tax forms This is your modified AGI. Printable 2011 tax forms Both contributions for 2013 and distributions in 2013. Printable 2011 tax forms   If all three of the following apply, any IRA distributions you received in 2013 may be partly tax free and partly taxable. Printable 2011 tax forms You received distributions in 2013 from one or more traditional IRAs. Printable 2011 tax forms You made contributions to a traditional IRA for 2013. Printable 2011 tax forms Some of those contributions may be nondeductible contributions. Printable 2011 tax forms If this is your situation, you must figure the taxable part of the traditional IRA distribution before you can figure your modified AGI. Printable 2011 tax forms To do this, you can use Worksheet 1-5, Figuring the Taxable Part of Your IRA Distribution, in Publication 590. Printable 2011 tax forms   If at least one of the above does not apply, figure your modified AGI using Worksheet 17-1, later. Printable 2011 tax forms    How to figure your reduced IRA deduction. Printable 2011 tax forms   You can figure your reduced IRA deduction for either Form 1040 or Form 1040A by using the worksheets in chapter 1 of Publication 590. Printable 2011 tax forms Also, the instructions for Form 1040 and Form 1040A include similar worksheets that you may be able to use instead. Printable 2011 tax forms Worksheet 17-1. Printable 2011 tax forms Figuring Your Modified AGI Use this worksheet to figure your modified adjusted gross income for traditional IRA purposes. Printable 2011 tax forms 1. Printable 2011 tax forms Enter your adjusted gross income (AGI) from Form 1040, line 38, or Form 1040A, line 22, figured without taking into account the amount from Form 1040, line 32, or Form 1040A, line 17 1. Printable 2011 tax forms   2. Printable 2011 tax forms Enter any student loan interest deduction from Form 1040, line 33, or Form 1040A, line 18 2. Printable 2011 tax forms   3. Printable 2011 tax forms Enter any tuition and fees deduction from Form 1040, line 34, or Form 1040A, line 19 3. Printable 2011 tax forms   4. Printable 2011 tax forms Enter any domestic production activities deduction from Form 1040, line 35 4. Printable 2011 tax forms   5. Printable 2011 tax forms Enter any foreign earned income and/or housing exclusion from Form 2555, line 45, or Form 2555-EZ, line 18 5. Printable 2011 tax forms   6. Printable 2011 tax forms Enter any foreign housing deduction from Form 2555, line 50 6. Printable 2011 tax forms   7. Printable 2011 tax forms Enter any excludable savings bond interest from Form 8815, line 14 7. Printable 2011 tax forms   8. Printable 2011 tax forms Enter any excluded employer-provided adoption benefits from Form 8839, line 28 8. Printable 2011 tax forms   9. Printable 2011 tax forms Add lines 1 through 8. Printable 2011 tax forms This is your Modified AGI for traditional IRA purposes 9. Printable 2011 tax forms   Reporting Deductible Contributions If you file Form 1040, enter your IRA deduction on line 32 of that form. Printable 2011 tax forms If you file Form 1040A, enter your IRA deduction on line 17. Printable 2011 tax forms You cannot deduct IRA contributions on Form 1040EZ. Printable 2011 tax forms Nondeductible Contributions Although your deduction for IRA contributions may be reduced or eliminated, contributions can be made to your IRA up to the general limit or, if it applies, the Kay Bailey Hutchison Spousal IRA limit. Printable 2011 tax forms The difference between your total permitted contributions and your IRA deduction, if any, is your nondeductible contribution. Printable 2011 tax forms Example. Printable 2011 tax forms Mike is 28 years old and single. Printable 2011 tax forms In 2013, he was covered by a retirement plan at work. Printable 2011 tax forms His salary was $57,312. Printable 2011 tax forms His modified AGI was $70,000. Printable 2011 tax forms Mike made a $5,500 IRA contribution for 2013. Printable 2011 tax forms Because he was covered by a retirement plan and his modified AGI was over $69,000, he cannot deduct his $5,500 IRA contribution. Printable 2011 tax forms He must designate this contribution as a nondeductible contribution by reporting it on Form 8606, as explained next. Printable 2011 tax forms Form 8606. Printable 2011 tax forms   To designate contributions as nondeductible, you must file Form 8606. Printable 2011 tax forms   You do not have to designate a contribution as nondeductible until you file your tax return. Printable 2011 tax forms When you file, you can even designate otherwise deductible contributions as nondeductible. Printable 2011 tax forms   You must file Form 8606 to report nondeductible contributions even if you do not have to file a tax return for the year. Printable 2011 tax forms A Form 8606 is not used for the year that you make a rollover from a qualified retirement plan to a traditional IRA and the rollover includes nontaxable amounts. Printable 2011 tax forms In those situations, a Form 8606 is completed for the year you take a distribution from that IRA. Printable 2011 tax forms See Form 8606 under Distributions Fully or Partly Taxable, later. Printable 2011 tax forms Failure to report nondeductible contributions. Printable 2011 tax forms   If you do not report nondeductible contributions, all of the contributions to your traditional IRA will be treated as deductible contributions when withdrawn. Printable 2011 tax forms All distributions from your IRA will be taxed unless you can show, with satisfactory evidence, that nondeductible contributions were made. Printable 2011 tax forms Penalty for overstatement. Printable 2011 tax forms   If you overstate the amount of nondeductible contributions on your Form 8606 for any tax year, you must pay a penalty of $100 for each overstatement, unless it was due to reasonable cause. Printable 2011 tax forms Penalty for failure to file Form 8606. Printable 2011 tax forms   You will have to pay a $50 penalty if you do not file a required Form 8606, unless you can prove that the failure was due to reasonable cause. Printable 2011 tax forms    Tax on earnings on nondeductible contributions. Printable 2011 tax forms   As long as contributions are within the contribution limits, none of the earnings or gains on contributions (deductible or nondeductible) will be taxed until they are distributed. Printable 2011 tax forms See When Can You Withdraw or Use IRA Assets , later. Printable 2011 tax forms Cost basis. Printable 2011 tax forms   You will have a cost basis in your traditional IRA if you made any nondeductible contributions. Printable 2011 tax forms Your cost basis is the sum of the nondeductible contributions to your IRA minus any withdrawals or distributions of nondeductible contributions. Printable 2011 tax forms Inherited IRAs If you inherit a traditional IRA, you are called a beneficiary. Printable 2011 tax forms A beneficiary can be any person or entity the owner chooses to receive the benefits of the IRA after he or she dies. Printable 2011 tax forms Beneficiaries of a traditional IRA must include in their gross income any taxable distributions they receive. Printable 2011 tax forms Inherited from spouse. Printable 2011 tax forms   If you inherit a traditional IRA from your spouse, you generally have the following three choices. Printable 2011 tax forms You can: Treat it as your own IRA by designating yourself as the account owner. Printable 2011 tax forms Treat it as your own by rolling it over into your IRA, or to the extent it is taxable, into a: Qualified employer plan, Qualified employee annuity plan (section 403(a) plan), Tax-sheltered annuity plan (section 403(b) plan), or Deferred compensation plan of a state or local government (section 457 plan). Printable 2011 tax forms Treat yourself as the beneficiary rather than treating the IRA as your own. Printable 2011 tax forms Treating it as your own. Printable 2011 tax forms   You will be considered to have chosen to treat the IRA as your own if: Contributions (including rollover contributions) are made to the inherited IRA, or You do not take the required minimum distribution for a year as a beneficiary of the IRA. Printable 2011 tax forms You will only be considered to have chosen to treat the IRA as your own if: You are the sole beneficiary of the IRA, and You have an unlimited right to withdraw amounts from it. Printable 2011 tax forms   However, if you receive a distribution from your deceased spouse's IRA, you can roll that distribution over into your own IRA within the 60-day time limit, as long as the distribution is not a required distribution, even if you are not the sole beneficiary of your deceased spouse's IRA. Printable 2011 tax forms Inherited from someone other than spouse. Printable 2011 tax forms   If you inherit a traditional IRA from anyone other than your deceased spouse, you cannot treat the inherited IRA as your own. Printable 2011 tax forms This means that you cannot make any contributions to the IRA. Printable 2011 tax forms It also means you cannot roll over any amounts into or out of the inherited IRA. Printable 2011 tax forms However, you can make a trustee-to-trustee transfer as long as the IRA into which amounts are being moved is set up and maintained in the name of the deceased IRA owner for the benefit of you as beneficiary. Printable 2011 tax forms For more information, see the discussion of inherited IRAs under Rollover From One IRA Into Another, later. Printable 2011 tax forms Can You Move Retirement Plan Assets? You can transfer, tax free, assets (money or property) from other retirement plans (including traditional IRAs) to a traditional IRA. Printable 2011 tax forms You can make the following kinds of transfers. Printable 2011 tax forms Transfers from one trustee to another. Printable 2011 tax forms Rollovers. Printable 2011 tax forms Transfers incident to a divorce. Printable 2011 tax forms Transfers to Roth IRAs. Printable 2011 tax forms   Under certain conditions, you can move assets from a traditional IRA or from a designated Roth account to a Roth IRA. Printable 2011 tax forms You can also move assets from a qualified retirement plan to a Roth IRA. Printable 2011 tax forms See Can You Move Amounts Into a Roth IRA? under Roth IRAs, later. Printable 2011 tax forms Trustee-to-Trustee Transfer A transfer of funds in your traditional IRA from one trustee directly to another, either at your request or at the trustee's request, is not a rollover. Printable 2011 tax forms Because there is no distribution to you, the transfer is tax free. Printable 2011 tax forms Because it is not a rollover, it is not affected by the 1-year waiting period required between rollovers, discussed later under Rollover From One IRA Into Another . Printable 2011 tax forms For information about direct transfers to IRAs from retirement plans other than IRAs, see Can You Move Retirement Plan Assets? in chapter 1 and Can You Move Amounts Into a Roth IRA? in chapter 2 of Publication 590. Printable 2011 tax forms Rollovers Generally, a rollover is a tax-free distribution to you of cash or other assets from one retirement plan that you contribute (roll over) to another retirement plan. Printable 2011 tax forms The contribution to the second retirement plan is called a “rollover contribution. Printable 2011 tax forms ” Note. Printable 2011 tax forms An amount rolled over tax free from one retirement plan to another is generally includible in income when it is distributed from the second plan. Printable 2011 tax forms Kinds of rollovers to a traditional IRA. Printable 2011 tax forms   You can roll over amounts from the following plans into a traditional IRA: A traditional IRA, An employer's qualified retirement plan for its employees, A deferred compensation plan of a state or local government (section 457 plan), or A tax-sheltered annuity plan (section 403(b) plan). Printable 2011 tax forms Treatment of rollovers. Printable 2011 tax forms   You cannot deduct a rollover contribution, but you must report the rollover distribution on your tax return as discussed later under Reporting rollovers from IRAs and under Reporting rollovers from employer plans . Printable 2011 tax forms Kinds of rollovers from a traditional IRA. Printable 2011 tax forms   You may be able to roll over, tax free, a distribution from your traditional IRA into a qualified plan. Printable 2011 tax forms These plans include the federal Thrift Savings Fund (for federal employees), deferred compensation plans of state or local governments (section 457 plans), and tax-sheltered annuity plans (section 403(b) plans). Printable 2011 tax forms The part of the distribution that you can roll over is the part that would otherwise be taxable (includible in your income). Printable 2011 tax forms Qualified plans may, but are not required to, accept such rollovers. Printable 2011 tax forms Time limit for making a rollover contribution. Printable 2011 tax forms   You generally must make the rollover contribution by the 60th day after the day you receive the distribution from your traditional IRA or your employer's plan. Printable 2011 tax forms The IRS may waive the 60-day requirement where the failure to do so would be against equity or good conscience, such as in the event of a casualty, disaster, or other event beyond your reasonable control. Printable 2011 tax forms For more information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Extension of rollover period. Printable 2011 tax forms   If an amount distributed to you from a traditional IRA or a qualified employer retirement plan is a frozen deposit at any time during the 60-day period allowed for a rollover, special rules extend the rollover period. Printable 2011 tax forms For more information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Printable 2011 tax forms More information. Printable 2011 tax forms   For more information on rollovers, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Rollover From One IRA Into Another You can withdraw, tax free, all or part of the assets from one traditional IRA if you reinvest them within 60 days in the same or another traditional IRA. Printable 2011 tax forms Because this is a rollover, you cannot deduct the amount that you reinvest in an IRA. Printable 2011 tax forms Waiting period between rollovers. Printable 2011 tax forms   Generally, if you make a tax-free rollover of any part of a distribution from a traditional IRA, you cannot, within a 1-year period, make a tax-free rollover of any later distribution from that same IRA. Printable 2011 tax forms You also cannot make a tax-free rollover of any amount distributed, within the same 1-year period, from the IRA into which you made the tax-free rollover. Printable 2011 tax forms   The 1-year period begins on the date you receive the IRA distribution, not on the date you roll it over into an IRA. Printable 2011 tax forms Example. Printable 2011 tax forms You have two traditional IRAs, IRA-1 and IRA-2. Printable 2011 tax forms You make a tax-free rollover of a distribution from IRA-1 into a new traditional IRA (IRA-3). Printable 2011 tax forms You cannot, within 1 year of the distribution from IRA-1, make a tax-free rollover of any distribution from either IRA-1 or IRA-3 into another traditional IRA. Printable 2011 tax forms However, the rollover from IRA-1 into IRA-3 does not prevent you from making a tax-free rollover from IRA-2 into any other traditional IRA. Printable 2011 tax forms This is because you have not, within the last year, rolled over, tax free, any distribution from IRA-2 or made a tax-free rollover into IRA-2. Printable 2011 tax forms Exception. Printable 2011 tax forms   For an exception for distributions from failed financial institutions, see Rollover From One IRA Into Another under Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Partial rollovers. Printable 2011 tax forms   If you withdraw assets from a traditional IRA, you can roll over part of the withdrawal tax free and keep the rest of it. Printable 2011 tax forms The amount you keep will generally be taxable (except for the part that is a return of nondeductible contributions). Printable 2011 tax forms The amount you keep may be subject to the 10% additional tax on early distributions, discussed later under What Acts Result in Penalties or Additional Taxes? . Printable 2011 tax forms Required distributions. Printable 2011 tax forms   Amounts that must be distributed during a particular year under the required distribution rules (discussed later) are not eligible for rollover treatment. Printable 2011 tax forms Inherited IRAs. Printable 2011 tax forms   If you inherit a traditional IRA from your spouse, you generally can roll it over, or you can choose to make the inherited IRA your own. Printable 2011 tax forms See Treating it as your own , earlier. Printable 2011 tax forms Not inherited from spouse. Printable 2011 tax forms   If you inherit a traditional IRA from someone other than your spouse, you cannot roll it over or allow it to receive a rollover contribution. Printable 2011 tax forms You must withdraw the IRA assets within a certain period. Printable 2011 tax forms For more information, see When Must You Withdraw Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Reporting rollovers from IRAs. Printable 2011 tax forms   Report any rollover from one traditional IRA to the same or another traditional IRA on lines 15a and 15b, Form 1040, or lines 11a and 11b, Form 1040A, as follows. Printable 2011 tax forms   Enter the total amount of the distribution on Form 1040, line 15a, or Form 1040A, line 11a. Printable 2011 tax forms If the total amount on Form 1040, line 15a, or Form 1040A, line 11a, was rolled over, enter zero on Form 1040, line 15b, or Form 1040A, line 11b. Printable 2011 tax forms If the total distribution was not rolled over, enter the taxable portion of the part that was not rolled over on Form 1040, line 15b, or Form 1040A, line 11b. Printable 2011 tax forms Put “Rollover” next to Form 1040, line 15b, or Form 1040A, line 11b. Printable 2011 tax forms See your tax return instructions. Printable 2011 tax forms   If you rolled over the distribution into a qualified plan (other than an IRA) or you make the rollover in 2014, attach a statement explaining what you did. Printable 2011 tax forms Rollover From Employer's Plan Into an IRA You can roll over into a traditional IRA all or part of an eligible rollover distribution you receive from your (or your deceased spouse's): Employer's qualified pension, profit-sharing, or stock bonus plan; Annuity plan; Tax-sheltered annuity plan (section 403(b) plan); or Governmental deferred compensation plan (section 457 plan). Printable 2011 tax forms A qualified plan is one that meets the requirements of the Internal Revenue Code. Printable 2011 tax forms Eligible rollover distribution. Printable 2011 tax forms   Generally, an eligible rollover distribution is any distribution of all or part of the balance to your credit in a qualified retirement plan except the following. Printable 2011 tax forms A required minimum distribution (explained later under When Must You Withdraw IRA Assets? (Required Minimum Distributions) ). Printable 2011 tax forms A hardship distribution. Printable 2011 tax forms Any of a series of substantially equal periodic distributions paid at least once a year over: Your lifetime or life expectancy, The lifetimes or life expectancies of you and your beneficiary, or A period of 10 years or more. Printable 2011 tax forms Corrective distributions of excess contributions or excess deferrals, and any income allocable to the excess, or of excess annual additions and any allocable gains. Printable 2011 tax forms A loan treated as a distribution because it does not satisfy certain requirements either when made or later (such as upon default), unless the participant's accrued benefits are reduced (offset) to repay the loan. Printable 2011 tax forms Dividends on employer securities. Printable 2011 tax forms The cost of life insurance coverage. Printable 2011 tax forms Any nontaxable amounts that you roll over into your traditional IRA become part of your basis (cost) in your IRAs. Printable 2011 tax forms To recover your basis when you take distributions from your IRA, you must complete Form 8606 for the year of the distribution. Printable 2011 tax forms See Form 8606 under Distributions Fully or Partly Taxable, later. Printable 2011 tax forms Rollover by nonspouse beneficiary. Printable 2011 tax forms   A direct transfer from a deceased employee's qualified pension, profit-sharing, or stock bonus plan; annuity plan; tax-sheltered annuity (section 403(b)) plan; or governmental deferred compensation (section 457) plan to an IRA set up to receive the distribution on your behalf can be treated as an eligible rollover distribution if you are the designated beneficiary of the plan and not the employee's spouse. Printable 2011 tax forms The IRA is treated as an inherited IRA. Printable 2011 tax forms For more information about inherited IRAs, see Inherited IRAs , earlier. Printable 2011 tax forms Reporting rollovers from employer plans. Printable 2011 tax forms    Enter the total distribution (before income tax or other deductions were withheld) on Form 1040, line 16a, or Form 1040A, line 12a. Printable 2011 tax forms This amount should be shown in box 1 of Form 1099-R. Printable 2011 tax forms From this amount, subtract any contributions (usually shown in box 5 of Form 1099-R) that were taxable to you when made. Printable 2011 tax forms From that result, subtract the amount that was rolled over either directly or within 60 days of receiving the distribution. Printable 2011 tax forms Enter the remaining amount, even if zero, on Form 1040, line 16b, or Form 1040A, line 12b. Printable 2011 tax forms Also, enter "Rollover" next to Form 1040, line 16b, or Form 1040A, line 12b. Printable 2011 tax forms Transfers Incident to Divorce If an interest in a traditional IRA is transferred from your spouse or former spouse to you by a divorce or separate maintenance decree or a written document related to such a decree, the interest in the IRA, starting from the date of the transfer, is treated as your IRA. Printable 2011 tax forms The transfer is tax free. Printable 2011 tax forms For detailed information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Converting From Any Traditional IRA to a Roth IRA Allowable conversions. Printable 2011 tax forms   You can withdraw all or part of the assets from a traditional IRA and reinvest them (within 60 days) in a Roth IRA. Printable 2011 tax forms The amount that you withdraw and timely contribute (convert) to the Roth IRA is called a conversion contribution. Printable 2011 tax forms If properly (and timely) rolled over, the 10% additional tax on early distributions will not apply. Printable 2011 tax forms However, a part or all of the conversion contribution from your traditional IRA is included in your gross income. Printable 2011 tax forms Required distributions. Printable 2011 tax forms   You cannot convert amounts that must be distributed from your traditional IRA for a particular year (including the calendar year in which you reach age 70½) under the required distribution rules (discussed later). Printable 2011 tax forms Income. Printable 2011 tax forms   You must include in your gross income distributions from a traditional IRA that you would have had to include in income if you had not converted them into a Roth IRA. Printable 2011 tax forms These amounts are normally included in income on your return for the year that you converted them from a traditional IRA to a Roth IRA. Printable 2011 tax forms   You do not include in gross income any part of a distribution from a traditional IRA that is a return of your basis, as discussed later. Printable 2011 tax forms   You must file Form 8606 to report 2013 conversions from traditional, SEP, or SIMPLE IRAs to a Roth IRA in 2013 (unless you recharacterized the entire amount) and to figure the amount to include in income. Printable 2011 tax forms   If you must include any amount in your gross income, you may have to increase your withholding or make estimated tax payments. Printable 2011 tax forms See chapter 4. Printable 2011 tax forms Recharacterizations You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. Printable 2011 tax forms This is called recharacterizing the contribution. Printable 2011 tax forms See Can You Move Retirement Plan Assets? in chapter 1 of Publication 590 for more detailed information. Printable 2011 tax forms How to recharacterize a contribution. Printable 2011 tax forms   To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a trustee-to-trustee transfer. Printable 2011 tax forms If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. Printable 2011 tax forms If you recharacterize your contribution, you must do all three of the following. Printable 2011 tax forms Include in the transfer any net income allocable to the contribution. Printable 2011 tax forms If there was a loss, the net income you must transfer may be a negative amount. Printable 2011 tax forms Report the recharacterization on your tax return for the year during which the contribution was made. Printable 2011 tax forms Treat the contribution as having been made to the second IRA on the date that it was actually made to the first IRA. Printable 2011 tax forms No deduction allowed. Printable 2011 tax forms   You cannot deduct the contribution to the first IRA. Printable 2011 tax forms Any net income you transfer with the recharacterized contribution is treated as earned in the second IRA. Printable 2011 tax forms Required notifications. Printable 2011 tax forms   To recharacterize a contribution, you must notify both the trustee of the first IRA (the one to which the contribution was actually made) and the trustee of the second IRA (the one to which the contribution is being moved) that you have elected to treat the contribution as having been made to the second IRA rather than the first. Printable 2011 tax forms You must make the notifications by the date of the transfer. Printable 2011 tax forms Only one notification is required if both IRAs are maintained by the same trustee. Printable 2011 tax forms The notification(s) must include all of the following information. Printable 2011 tax forms The type and amount of the contribution to the first IRA that is to be recharacterized. Printable 2011 tax forms The date on which the contribution was made to the first IRA and the year for which it was made. Printable 2011 tax forms A direction to the trustee of the first IRA to transfer in a trustee-to-trustee transfer the amount of the contribution and any net income (or loss) allocable to the contribution to the trustee of the second IRA. Printable 2011 tax forms The name of the trustee of the first IRA and the name of the trustee of the second IRA. Printable 2011 tax forms Any additional information needed to make the transfer. Printable 2011 tax forms Reporting a recharacterization. Printable 2011 tax forms   If you elect to recharacterize a contribution to one IRA as a contribution to another IRA, you must report the recharacterization on your tax return as directed by Form 8606 and its instructions. Printable 2011 tax forms You must treat the contribution as having been made to the second IRA. Printable 2011 tax forms When Can You Withdraw or Use IRA Assets? There are rules limiting use of your IRA assets and distributions from it. Printable 2011 tax forms Violation of the rules generally results in additional taxes in the year of violation. Printable 2011 tax forms See What Acts Result in Penalties or Additional Taxes , later. Printable 2011 tax forms Contributions returned before the due date of return. Printable 2011 tax forms   If you made IRA contributions in 2013, you can withdraw them tax free by the due date of your return. Printable 2011 tax forms If you have an extension of time to file your return, you can withdraw them tax free by the extended due date. Printable 2011 tax forms You can do this if, for each contribution you withdraw, both of the following conditions apply. Printable 2011 tax forms You did not take a deduction for the contribution. Printable 2011 tax forms You withdraw any interest or other income earned on the contribution. Printable 2011 tax forms You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be withdrawn. Printable 2011 tax forms If there was a loss, the net income earned on the contribution may be a negative amount. Printable 2011 tax forms Note. Printable 2011 tax forms To calculate the amount you must withdraw, see Worksheet 1-4 under When Can You Withdraw or Use Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Earnings includible in income. Printable 2011 tax forms   You must include in income any earnings on the contributions you withdraw. Printable 2011 tax forms Include the earnings in income for the year in which you made the contributions, not in the year in which you withdraw them. Printable 2011 tax forms Generally, except for any part of a withdrawal that is a return of nondeductible contributions (basis), any withdrawal of your contributions after the due date (or extended due date) of your return will be treated as a taxable distribution. Printable 2011 tax forms Excess contributions can also be recovered tax free as discussed under What Acts Result in Penalties or Additional Taxes?, later. Printable 2011 tax forms    Early distributions tax. Printable 2011 tax forms   The 10% additional tax on distributions made before you reach age 59½ does not apply to these tax-free withdrawals of your contributions. Printable 2011 tax forms However, the distribution of interest or other income must be reported on Form 5329 and, unless the distribution qualifies as an exception to the age 59½ rule, it will be subject to this tax. Printable 2011 tax forms When Must You Withdraw IRA Assets? (Required Minimum Distributions) You cannot keep funds in a traditional IRA indefinitely. Printable 2011 tax forms Eventually they must be distributed. Printable 2011 tax forms If there are no distributions, or if the distributions are not large enough, you may have to pay a 50% excise tax on the amount not distributed as required. Printable 2011 tax forms See Excess Accumulations (Insufficient Distributions) , later. Printable 2011 tax forms The requirements for distributing IRA funds differ depending on whether you are the IRA owner or the beneficiary of a decedent's IRA. Printable 2011 tax forms Required minimum distribution. Printable 2011 tax forms   The amount that must be distributed each year is referred to as the required minimum distribution. Printable 2011 tax forms Required distributions not eligible for rollover. Printable 2011 tax forms   Amounts that must be distributed (required minimum distributions) during a particular year are not eligible for rollover treatment. Printable 2011 tax forms IRA owners. Printable 2011 tax forms   If you are the owner of a traditional IRA, you must generally start receiving distributions from your IRA by April 1 of the year following the year in which you reach age 70½. Printable 2011 tax forms April 1 of the year following the year in which you reach age 70½ is referred to as the required beginning date. Printable 2011 tax forms Distributions by the required beginning date. Printable 2011 tax forms   You must receive at least a minimum amount for each year starting with the year you reach age 70½ (your 70½ year). Printable 2011 tax forms If you do not (or did not) receive that minimum amount in your 70½ year, then you must receive distributions for your 70½ year by April 1 of the next year. Printable 2011 tax forms   If an IRA owner dies after reaching age 70½, but before April 1 of the next year, no minimum distribution is required because death occurred before the required beginning date. Printable 2011 tax forms Even if you begin receiving distributions before you attain age 70½, you must begin calculating and receiving required minimum distributions by your required beginning date. Printable 2011 tax forms Distributions after the required beginning date. Printable 2011 tax forms   The required minimum distribution for any year after the year you turn 70½ must be made by December 31 of that later year. Printable 2011 tax forms    Beneficiaries. Printable 2011 tax forms   If you are the beneficiary of a decedent's traditional IRA, the requirements for distributions from that IRA generally depend on whether the IRA owner died before or after the required beginning date for distributions. Printable 2011 tax forms More information. Printable 2011 tax forms   For more information, including how to figure your minimum required distribution each year and how to figure your required distribution if you are a beneficiary of a decedent's IRA, see When Must You Withdraw Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Are Distributions Taxable? In general, distributions from a traditional IRA are taxable in the year you receive them. Printable 2011 tax forms Exceptions. Printable 2011 tax forms   Exceptions to distributions from traditional IRAs being taxable in the year you receive them are: Rollovers, Qualified charitable distributions (QCD), discussed later, Tax-free withdrawals of contributions, discussed earlier, and The return of nondeductible contributions, discussed later under Distributions Fully or Partly Taxable . Printable 2011 tax forms    Although a conversion of a traditional IRA is considered a rollover for Roth IRA purposes, it is not an exception to the rule that distributions from a traditional IRA are taxable in the year you receive them. Printable 2011 tax forms Conversion distributions are includible in your gross income subject to this rule and the special rules for conversions explained in Converting From Any Traditional IRA Into a Roth IRA under Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Printable 2011 tax forms Qualified charitable distributions (QCD). Printable 2011 tax forms   A QCD is generally a nontaxable distribution made directly by the trustee of your IRA to an organization eligible to receive tax-deductible contributions. Printable 2011 tax forms Special rules apply if you made a qualified charitable distribution in January 2013 that you elected to treat as made in 2012. Printable 2011 tax forms See Qualified Charitable Distributions in Publication 590 for more information. Printable 2011 tax forms Ordinary income. Printable 2011 tax forms   Distributions from traditional IRAs that you include in income are taxed as ordinary income. Printable 2011 tax forms No special treatment. Printable 2011 tax forms   In figuring your tax, you cannot use the 10-year tax option or capital gain treatment that applies to lump-sum distributions from qualified retirement plans. Printable 2011 tax forms Distributions Fully or Partly Taxable Distributions from your traditional IRA may be fully or partly taxable, depending on whether your IRA includes any nondeductible contributions. Printable 2011 tax forms Fully taxable. Printable 2011 tax forms   If only deductible contributions were made to your traditional IRA (or IRAs, if you have more than one), you have no basis in your IRA. Printable 2011 tax forms Because you have no basis in your IRA, any distributions are fully taxable when received. Printable 2011 tax forms See Reporting taxable distributions on your return , later. Printable 2011 tax forms Partly taxable. Printable 2011 tax forms    If you made nondeductible contributions or rolled over any after-tax amounts to any of your traditional IRAs, you have a cost basis (investment in the contract) equal to the amount of those contributions. Printable 2011 tax forms These nondeductible contributions are not taxed when they are distributed to you. Printable 2011 tax forms They are a return of your investment in your IRA. Printable 2011 tax forms   Only the part of the distribution that represents nondeductible contributions and rolled over after-tax amounts (your cost basis) is tax free. Printable 2011 tax forms If nondeductible contributions have been made or after-tax amounts have been rolled over to your IRA, distributions consist partly of nondeductible contributions (basis) and partly of deductible contributions, earnings, and gains (if there are any). Printable 2011 tax forms Until all of your basis has been distributed, each distribution is partly nontaxable and partly taxable. Printable 2011 tax forms Form 8606. Printable 2011 tax forms   You must complete Form 8606 and attach it to your return if you receive a distribution from a traditional IRA and have ever made nondeductible contributions or rolled over after-tax amounts to any of your traditional IRAs. Printable 2011 tax forms Using the form, you will figure the nontaxable distributions for 2013 and your total IRA basis for 2013 and earlier years. Printable 2011 tax forms Note. Printable 2011 tax forms If you are required to file Form 8606, but you are not required to file an income tax return, you still must file Form 8606. Printable 2011 tax forms Send it to the IRS at the time and place you would otherwise file an income tax return. Printable 2011 tax forms Distributions reported on Form 1099-R. Printable 2011 tax forms   If you receive a distribution from your traditional IRA, you will receive Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Printable 2011 tax forms , or a similar statement. Printable 2011 tax forms IRA distributions are shown in boxes 1 and 2a of Form 1099-R. Printable 2011 tax forms A number or letter code in box 7 tells you what type of distribution you received from your IRA. Printable 2011 tax forms Withholding. Printable 2011 tax forms   Federal income tax is withheld from distributions from traditional IRAs unless you choose not to have tax withheld. Printable 2011 tax forms See chapter 4. Printable 2011 tax forms IRA distributions delivered outside the United States. Printable 2011 tax forms   In general, if you are a U. Printable 2011 tax forms S. Printable 2011 tax forms citizen or resident alien and your home address is outside the United States or its possessions, you cannot choose exemption from withholding on distributions from your traditional IRA. Printable 2011 tax forms Reporting taxable distributions on your return. Printable 2011 tax forms    Report fully taxable distributions, including early distributions on Form 1040, line 15b, or Form 1040A, line 11b (no entry is required on Form 1040, line 15a, or Form 1040A, line 11a). Printable 2011 tax forms If only part of the distribution is taxable, enter the total amount on Form 1040, line 15a, or Form 1040A, line 11a, and the taxable part on Form 1040, line 15b, or Form 1040A, line 11b. Printable 2011 tax forms You cannot report distributions on Form 1040EZ. Printable 2011 tax forms What Acts Result in Penalties or Additional Taxes? The tax advantages of using traditional IRAs for retirement savings can be offset by additional taxes and penalties if you do not follow the rules. Printable 2011 tax forms There are additions to the regular tax for using your IRA funds in prohibited transactions. Printable 2011 tax forms There are also additional taxes for the following activities. Printable 2011 tax forms Investing in collectibles. Printable 2011 tax forms Making excess contributions. Printable 2011 tax forms Taking early distributions. Printable 2011 tax forms Allowing excess amounts to accumulate (failing to take required distributions). Printable 2011 tax forms There are penalties for overstating the amount of nondeductible contributions and for failure to file a Form 8606, if required. Printable 2011 tax forms Prohibited Transactions Generally, a prohibited transaction is any improper use of your traditional IRA by you, your beneficiary, or any disqualified person. Printable 2011 tax forms Disqualified persons include your fiduciary and members of your family (spouse, ancestor, lineal descendent, and any spouse of a lineal descendent). Printable 2011 tax forms The following are examples of prohibited transactions with a traditional IRA. Printable 2011 tax forms Borrowing money from it. Printable 2011 tax forms Selling property to it. Printable 2011 tax forms Receiving unreasonable compensation for managing it. Printable 2011 tax forms Using it as security for a loan. Printable 2011 tax forms Buying property for personal use (present or future) with IRA funds. Printable 2011 tax forms Effect on an IRA account. Printable 2011 tax forms   Generally, if you or your beneficiary engages in a prohibited transaction in connection with your traditional IRA account at any time during the year, the account stops being an IRA as of the first day of that year. Printable 2011 tax forms Effect on you or your beneficiary. Printable 2011 tax forms   If your account stops being an IRA because you or your beneficiary engaged in a prohibited transaction, the account is treated as distributing all its assets to you at their fair market values on the first day of the year. Printable 2011 tax forms If the total of those values is more than your basis in the IRA, you will have a taxable gain that is includible in your income. Printable 2011 tax forms For information on figuring your gain and reporting it in income, see Are Distributions Taxable , earlier. Printable 2011 tax forms The distribution may be subject to additional taxes or penalties. Printable 2011 tax forms Taxes on prohibited transactions. Printable 2011 tax forms   If someone other than the owner or beneficiary of a traditional IRA engages in a prohibited transaction, that person may be liable for certain taxes. Printable 2011 tax forms In general, there is a 15% tax on the amount of the prohibited transaction and a 100% additional tax if the transaction is not corrected. Printable 2011 tax forms More information. Printable 2011 tax forms   For more information on prohibited transactions, see What Acts Result in Penalties or Additional Taxes? in chapter 1 of Publication 590. Printable 2011 tax forms Investment in Collectibles If your traditional IRA invests in collectibles, the amount invested is considered distributed to you in the year invested. Printable 2011 tax forms You may have to pay the 10% additional tax on early distributions, discussed later. Printable 2011 tax forms Collectibles. Printable 2011 tax forms   These include: Artworks, Rugs, Antiques, Metals, Gems, Stamps, Coins, Alcoholic beverages, and Certain other tangible personal property. Printable 2011 tax forms Exception. Printable 2011 tax forms    Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U. Printable 2011 tax forms S. Printable 2011 tax forms gold coins, or one-ounce silver coins minted by the Treasury Department. Printable 2011 tax forms It can also invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion. Printable 2011 tax forms Excess Contributions Generally, an excess contribution is the amount contributed to your traditional IRA(s) for the year that is more than the smaller of: The maximum deductible amount for the year. Printable 2011 tax forms For 2013, this is $5,500 ($6,500 if you are 50 or older), or Your taxable compensation for the year. Printable 2011 tax forms Tax on excess contributions. Printable 2011 tax forms   In general, if the excess contributions for a year are not withdrawn by the date your return for the year is due (including extensions), you are subject to a 6% tax. Printable 2011 tax forms You must pay the 6% tax each year on excess amounts that remain in your traditional IRA at the end of your tax year. Printable 2011 tax forms The tax cannot be more than 6% of the combined value of all your IRAs as of the end of your tax year. Printable 2011 tax forms Excess contributions withdrawn by due date of return. Printable 2011 tax forms   You will not have to pay the 6% tax if you withdraw an excess contribution made during a tax year and you also withdraw interest or other income earned on the excess contribution. Printable 2011 tax forms You must complete your withdrawal by the date your tax return for that year is due, including extensions. Printable 2011 tax forms How to treat withdrawn contributions. Printable 2011 tax forms   Do not include in your gross income an excess contribution that you withdraw from your traditional IRA before your tax return is due if both the following conditions are met. Printable 2011 tax forms No deduction was allowed for the excess contribution. Printable 2011 tax forms You withdraw the interest or other income earned on the excess contribution. Printable 2011 tax forms You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be withdrawn. Printable 2011 tax forms If there was a loss, the net income you must withdraw may be a negative amount. Printable 2011 tax forms How to treat withdrawn interest or other income. Printable 2011 tax forms   You must include in your gross income the interest or other income that was earned on the excess contribution. Printable 2011 tax forms Report it on your return for the year in which the excess contribution was made. Printable 2011 tax forms Your withdrawal of interest or other income may be subject to an additional 10% tax on early distributions, discus