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Self Employed Tax Form

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Self Employed Tax Form

Self employed tax form 7. Self employed tax form   Ingresos de Intereses Table of Contents Recordatorio Introduction Useful Items - You may want to see: Información General SSN para una cuenta conjunta. Self employed tax form Cuenta de custodia para su hijo. Self employed tax form Multa por no facilitar un SSN. Self employed tax form Cómo se declara la retención adicional. Self employed tax form Cuenta de ahorros con uno de los padres como fideicomisario. Self employed tax form Intereses que no se declaran en el Formulario 1099-INT. Self employed tax form Nominatarios. Self employed tax form Cantidad incorrecta. Self employed tax form Requisito de declarar ciertos datos. Self employed tax form Intereses Sujetos a ImpuestosIntereses sujetos a la multa por retiro prematuro de fondos. Self employed tax form Préstamo para invertir en un certificado de depósito. Self employed tax form Bonos de Ahorro de los Estados Unidos Programa de Bonos de Ahorro para Estudios Letras, Pagarés y Bonos del Tesoro de los Estados Unidos Bonos que se Venden Entre las Fechas de Pago de los Intereses Seguros Obligaciones del Gobierno Estatal o Local Descuento de la Emisión Original (OID) Cuándo Se Deben Declarar los Ingresos de InteresesRecibo implícito. Self employed tax form Cómo se Declaran los Ingresos de InteresesAnexo B (Formulario 1040A o Formulario 1040). Self employed tax form Cómo declarar los intereses exentos de impuesto. Self employed tax form Intereses de bonos de ahorro de los EE. Self employed tax form UU. Self employed tax form declarados anteriormente. Self employed tax form Recordatorio Ingresos de fuentes en el extranjero. Self employed tax form  Si es ciudadano estadounidense y recibió ingresos de intereses desde fuentes que se encuentran fuera de los Estados Unidos (ingresos de origen extranjero), tiene que declarar esos ingresos en su declaración de impuestos a no ser que los mismos estén exentos de impuestos de acuerdo con la ley de los Estados Unidos. Self employed tax form Esto es aplicable aun cuando resida dentro o fuera de los Estados Unidos o no haya recibido un Formulario 1099 de un pagador en el extranjero. Self employed tax form Introduction Este capítulo trata de los siguientes temas: Las diferentes clases de ingresos de intereses. Self employed tax form Qué intereses están sujetos a impuestos y qué intereses no están sujetos a impuestos. Self employed tax form Cuándo se deben declarar los ingresos por concepto de intereses y Cómo se declaran los ingresos de intereses en su declaración de impuestos. Self employed tax form Por regla general, los intereses que usted reciba o que se abonen a su cuenta y puedan ser retirados constituyen ingreso tributable. Self employed tax form Las excepciones a esta regla se explican más adelante en este capítulo. Self employed tax form Puede deducir los gastos en los que haya incurrido al producir esos ingresos en el Anexo A del Formulario 1040 si detalla las deducciones. Self employed tax form Vea Préstamo para invertir en un certificado de depósito , más adelante, y el capítulo 28 . Self employed tax form Useful Items - You may want to see: Publicación 537 Installment Sales (Ventas a plazos), en inglés 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés 1212 Guide to Original Issue Discount (OID) Instruments (Guía para documentos relacionados con la emisión original de descuento (OID, por sus siglas en inglés)), en inglés Formulario (e Instrucciones) Anexo B (Formulario 1040A o 1040) Interest and Ordinary Dividends (Intereses y dividendos ordinarios), en inglés 8815 Exclusion of Interest From Series EE and I U. Self employed tax form S. Self employed tax form Savings Bonds Issued After 1989 (Exclusión de los intereses provenientes de bonos de ahorros estadounidenses calificados de las Series EE e I emitidos después de 1989), en inglés 8818 Optional Form To Record Redemption of Series EE and I U. Self employed tax form S. Self employed tax form Savings Bonds Issued After 1989 (Formulario opcional para documentar el rescate de bonos de ahorros de las Series EE e I emitidos después de 1989), en inglés Información General A continuación, se tratan algunos temas de interés general: Documentación. Self employed tax form Debe guardar una lista en la que se indiquen la fuente y cantidades de intereses recibidos durante el año. Self employed tax form Guarde también los documentos que reciba en los cuales aparezcan sus ingresos de intereses (por ejemplo, los Formularios 1099-INT) como una parte importante de sus archivos. Self employed tax form Impuestos sobre ingresos no derivados del trabajo de determinados hijos. Self employed tax form   Una parte de los ingresos no derivados del trabajo que haya recibido un hijo en el año 2013 podría estar sujeta a la misma tasa impositiva que la de sus padres. Self employed tax form En ese caso, tiene que completar el Formulario 8615, Tax for Certain Children Who Have Unearned Income (Impuesto para determinados hijos con ingresos no derivados del trabajo), en inglés, y adjuntarlo a la declaración de impuestos del menor en cuestión. Self employed tax form Si no le corresponde, no se requiere el Formulario 8615 y los ingresos del menor están sujetos a la tasa impositiva que le corresponde. Self employed tax form   Ciertos padres determinados pueden optar por incluir los intereses y dividendos del menor en su declaración de impuestos si se satisfacen ciertos requisitos. Self employed tax form Si usted es uno de dichos padres, utilice el Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Elección del padre o de la madre de declarar los intereses y dividendos del hijo), en inglés, para tal propósito. Self employed tax form   Para más información acerca del impuesto sobre los ingresos no derivados del trabajo de hijos menores y la elección de los padres, vea el capítulo 31. Self employed tax form Beneficiario de un caudal hereditario o fideicomiso. Self employed tax form   Los ingresos por concepto de intereses que recibe como beneficiario de un caudal hereditario o fideicomiso suelen considerarse ingreso tributable. Self employed tax form Usted debería recibir del fiduciario un Anexo K-1 (Formulario 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Self employed tax form (Participación en los ingresos, deducciones, créditos, etc. Self employed tax form , correspondiente al beneficiario), en inglés. Self employed tax form La copia Anexo K-1 (Formulario 1041), en inglés, y las instrucciones afines le informarán en dónde se deben anotar los ingresos en el Formulario 1040. Self employed tax form Número de Seguro Social. Self employed tax form   Tiene que facilitar su nombre y número de Seguro Social (SSN, por sus siglas en inglés) o número de identificación personal del contribuyente del Servicio de Impuestos Internos (ITIN, por sus siglas en inglés) a todo individuo que esté obligado por las leyes federales de impuestos a hacer una declaración, informe u otro documento pertinente a su caso. Self employed tax form Esto incluye a quienes pagan intereses. Self employed tax form Si no le provee su SSN o ITIN al pagador de los intereses, quizás tendría que pagar una multa. Self employed tax form SSN para una cuenta conjunta. Self employed tax form   Si los fondos de una cuenta conjunta pertenecen a un solo individuo, anote primero el nombre de tal individuo en la cuenta y déle al pagador el SSN de esa persona. Self employed tax form (Para información sobre quién tiene posesión legal de los fondos en una cuenta conjunta, vea Cuentas conjuntas , más adelante). Self employed tax form Si la cuenta conjunta tiene fondos mixtos, anote el SSN del individuo cuyo nombre aparece primero en la cuenta. Self employed tax form Esto es así ya que sólo un nombre y un SSN se pueden mostrar en el Formulario 1099. Self employed tax form   Estas reglas corresponden a la posesión conjunta de una cuenta de un matrimonio y a la posesión conjunta de la cuenta por otros individuos. Self employed tax form Por ejemplo, si abre una cuenta conjunta de ahorros con su hijo, utilizando fondos que pertenezcan únicamente al hijo, anote primero el nombre de éste en la cuenta y provea el SSN del hijo. Self employed tax form Cuenta de custodia para su hijo. Self employed tax form   Si su hijo es el dueño legal de una cuenta que se ha registrado en nombre de usted como custodio del hijo o de la hija, déle al pagador el SSN de su hijo. Self employed tax form Por ejemplo, usted tiene que proveer el SSN de su hijo a quien paga los intereses de la cuenta de su hijo, aun cuando se le paguen los intereses a usted como custodio. Self employed tax form Multa por no facilitar un SSN. Self employed tax form   Si no le da su SSN a quien paga los intereses, quizás tenga que pagar una multa. Self employed tax form Vea Incumplimiento de la entrega del número de Seguro Social , bajo Multas, en el capítulo 1 de esta publicación. Self employed tax form La retención adicional (backup withholding) también puede corresponder en este caso. Self employed tax form Retención adicional de impuestos. Self employed tax form   Por regla general, los ingresos de intereses no están sujetos a la retención normal del impuesto. Self employed tax form No obstante, pueden estar sujetos a la retención adicional (backup withholding) para asegurar que se le retenga impuesto sobre ese ingreso. Self employed tax form Según la regla de la retención adicional, el pagador de los intereses tiene que retener un porcentaje conforme a la tasa apropiada de retención, de la cantidad del ingreso que le paga como impuesto sobre los ingresos. Self employed tax form   También se le puede requerir una retención adicional de impuestos si el Servicio de Impuestos Internos (IRS, por sus siglas en inglés) ha determinado que usted declaró una cantidad inferior de ingresos de intereses o dividendos de lo que en verdad recibió. Self employed tax form Para más información, vea Retención Adicional , en el capítulo 4. Self employed tax form Cómo se declara la retención adicional. Self employed tax form   Si se le deduce retención adicional de impuestos de sus ingresos de intereses, el pagador de los ingresos tiene que enviarle un Formulario 1099-INT para el año, el cual mostrará la cantidad adicional retenida. Self employed tax form El Formulario 1099-INT indicará toda retención adicional como “ Federal income tax withheld (Impuesto federal sobre los ingresos retenido)”. Self employed tax form Cuentas conjuntas. Self employed tax form   Si dos o más individuos tienen bienes (por ejemplo, una cuenta de ahorros o bono de propiedad) en tenencia conjunta (joint tenants) o de propiedad de tenencia conyugal (tenants by the entirety) o de tenencia común (tenants in common), la participación de cada individuo en la propiedad o bien en cuestión se determinará según las leyes locales. Self employed tax form Ingresos derivados de propiedad regalada a un hijo. Self employed tax form   Toda propiedad que usted haya regalado a su hijo bajo la Model Gifts of Securities to Minors Act (Ley modelo de regalos de valores bursátiles a hijos menores), la Uniform Gifts to Minors Act (Ley uniforme de regalos a hijos menores) o bajo ley semejante alguna, se considera propiedad que pertenece al hijo. Self employed tax form   Los ingresos derivados de la propiedad son tributables al hijo, a menos que alguna parte de los ingresos se utilice para satisfacer una obligación o deuda legal de manutención del hijo de uno de los padres o tutor, el cual tiene la responsabilidad de incluir dichos ingresos y pagar impuestos. Self employed tax form Cuenta de ahorros con uno de los padres como fideicomisario. Self employed tax form   Los ingresos de intereses de una cuenta de ahorros establecida para un hijo menor que se haya puesto a nombre de los padres y esté sujeta al control de éstos como fideicomisarios, es tributable con respecto al hijo si, de acuerdo con la ley del estado en el cual vive el hijo, corresponden las dos condiciones siguientes: La cuenta de ahorros pertenece legalmente al hijo. Self employed tax form Los padres no tienen autorización legal para utilizar porción alguna de los fondos para costear los gastos de manutención del hijo. Self employed tax form Formulario 1099-INT. Self employed tax form   Por lo general, los bancos, asociaciones de ahorro y préstamo y otros pagadores de intereses le declaran todo ingreso de intereses en un Formulario 1099-INT, en inglés, o en un documento similar. Self employed tax form En este formulario se indicará la cantidad de intereses que recibió durante el año. Self employed tax form Guarde este formulario con su documentación. Self employed tax form No tiene que adjuntarlo a su declaración de impuestos. Self employed tax form   Incluya en su declaración de impuestos el total de los ingresos de intereses que reciba correspondiente al año tributario. Self employed tax form Intereses que no se declaran en el Formulario 1099-INT. Self employed tax form   Aun cuando no reciba un Formulario 1099-INT, igual tiene que declarar todos sus ingresos de intereses recibidos. Self employed tax form Por ejemplo, puede que reciba acciones distribuidas en forma de intereses de sociedades colectivas o de sociedades anónimas de tipo S. Self employed tax form Se declararán estos intereses en su Anexo K-1 (Formulario 1065), Partner's Share of Income, Deductions, Credits, etc. Self employed tax form (Parte de los ingresos, deducciones, créditos, etc. Self employed tax form , correspondiente al socio), en inglés, o en el Anexo K-1 (Formulario 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Self employed tax form (Parte de los ingresos, deducciones, créditos, etc. Self employed tax form , correspondiente al accionista), en inglés. Self employed tax form Nominatarios. Self employed tax form   Por regla general, si un individuo recibe intereses en nombre suyo (o sea, como nominatario), esa persona le tiene que proveer un Formulario 1099-INT con la cantidad de intereses que recibió por usted. Self employed tax form   Si recibe un Formulario 1099-INT en el cual se incluyen cantidades que pertenecen a otro individuo, vea la explicación acerca de distribuciones que reciben los nominatarios en la sección How To Report Interest Income (Cómo se declaran los ingresos de intereses) en el capítulo 1 de la Publicación 550, en inglés. Self employed tax form También puede conseguir información sobre este tema en las instrucciones para el Anexo B (Formulario 1040A o 1040), en inglés. Self employed tax form Cantidad incorrecta. Self employed tax form   Si recibe un Formulario 1099-INT que indique una cantidad incorrecta (u otra información equivocada), debe pedirle al emisor un formulario corregido que contenga la información correcta. Self employed tax form El nuevo Formulario 1099-INT que reciba se marcará con la palabra “Corrected” (Corregido). Self employed tax form Formulario 1099-OID. Self employed tax form   El ingreso de intereses que se tiene que declarar también puede aparecer en el Formulario 1099-OID, Original Issue Discount (Descuento de la emisión original), en inglés. Self employed tax form Para más información sobre las cantidades que aparecen en este formulario, vea Descuento de la Emisión Original (OID) , más adelante en este capítulo. Self employed tax form Dividendos con intereses exentos. Self employed tax form   Los dividendos que produzcan intereses exentos que usted reciba de un fondo mutuo u otra sociedad inversionista reglamentada, incluyendo aquellos dividendos recibidos de un fondo calificado de fondos en cualquier año tributario que comience después del 22 de diciembre de 2010, no se incluyen en su ingreso tributable. Self employed tax form (No obstante, vea Requisito de declarar ciertos datos , en el próximo párrafo). Self employed tax form Los dividendos con intereses exentos deben aparecer en el recuadro 10 del Formulario 1099-DIV. Self employed tax form En el caso de distribuciones que sean dividendos con intereses exentos, usted no reduce su base. Self employed tax form Requisito de declarar ciertos datos. Self employed tax form   Aunque los dividendos con intereses exentos no están sujetos a impuestos, tiene que declararlos en su declaración de impuestos si se ve obligado a presentar la declaración. Self employed tax form No es nada más que un requisito de declarar ciertos datos en su declaración y no convertirá los dividendos con intereses exentos en ingreso tributable. Self employed tax form Nota: Los dividendos que produzcan intereses exentos y que se hayan pagado con bonos de actividad privada especificados, podrían estar sujetos al impuesto mínimo alternativo. Self employed tax form Vea el tema titulado Impuesto Mínimo Alternativo (AMT) en el capítulo 30 para más información. Self employed tax form El capítulo 1 de la Publicación 550, en inglés, contiene una explicación sobre los bonos de actividad particular bajo la sección titulada State or Local Government Obligations (Obligaciones de los gobiernos estatales o locales). Self employed tax form Intereses de dividendos del Departamento de Asuntos de Veteranos (VA dividends). Self employed tax form   Los intereses de dividendos de seguros que usted deje en depósito en el Departamento de Asuntos de Veteranos (VA, por sus siglas en inglés) no están sujetos a impuestos. Self employed tax form En éstos se incluyen los intereses pagados sobre dividendos de las pólizas convertidas de United States Government Life Insurance (Seguros de Vida del Gobierno de los Estados Unidos) y National Service Life Insurance (Seguros de Vida del Servicio Nacional). Self employed tax form Arreglos de ahorros para la jubilación (IRA, por sus siglas en inglés). Self employed tax form   Los intereses procedentes de un arreglo Roth IRA no suelen ser tributables. Self employed tax form Los intereses de un arreglo IRA tradicional son diferidos de tributación. Self employed tax form Por lo general, no debe incluir esos intereses en sus ingresos hasta que empiece a retirar los fondos de su arreglo IRA. Self employed tax form Vea el capítulo 17 para más información. Self employed tax form Intereses Sujetos a Impuestos En los intereses tributables se incluyen los intereses que reciba de cuentas bancarias, de préstamos que haga a otras personas y otras fuentes. Self employed tax form A continuación se enumeran otras fuentes de intereses tributables. Self employed tax form Dividendos que en realidad son intereses. Self employed tax form   Ciertas distribuciones que se denominan comúnmente dividendos son en realidad intereses. Self employed tax form Tiene que declarar como intereses aquellos llamados “dividendos” en depósitos o en cuentas de acciones de: Bancos cooperativos, Cooperativas de ahorro y crédito, Asociaciones nacionales de préstamos para edificación, Sociedades nacionales de ahorros y préstamos, Sociedades federales de ahorros y préstamos y Bancos mutualistas de ahorros. Self employed tax form   Los “dividendos” se informan en el Formulario 1099-INT como ingresos de intereses. Self employed tax form Fondos del mercado monetario. Self employed tax form   Los fondos del mercado monetario pagan dividendos y son ofrecidos por instituciones financieras que no son consideradas “bancos”, tales como, casas de corretaje bursátil y de fondos mutuos. Self employed tax form Por regla general, las cantidades que reciba de los fondos del mercado monetario (money market funds) deben declararse como dividendos y no como intereses. Self employed tax form Certificados de depósito y otras cuentas de intereses diferidos. Self employed tax form   Si abre cualesquiera de estas cuentas, se le podrán pagar intereses a intervalos fijos de un año o menos durante la vigencia de la cuenta. Self employed tax form Por lo general, deberá incluir dichos intereses en sus ingresos cuando de hecho los reciba o tenga derecho a recibirlos sin tener que pagar una multa sustancial. Self employed tax form Esto es aplicable para las cuentas que venzan dentro de un año o menos y que paguen intereses en un solo pago al vencer. Self employed tax form Si se difieren los intereses durante más de un año, vea Descuento de la Emisión Original (OID) , más adelante. Self employed tax form Intereses sujetos a la multa por retiro prematuro de fondos. Self employed tax form   Si retira fondos de una cuenta de intereses diferidos antes de su vencimiento, es posible que tenga que pagar una multa. Self employed tax form Tiene que declarar la cantidad total de los intereses pagados o acreditados a su cuenta durante el año, sin restar la multa. Self employed tax form Vea Penalty on early withdrawal of savings (Multa por retiro prematuro de ahorros) en el capítulo 1 de la Publicación 550, en inglés, para más información sobre cómo se declaran los intereses y cómo deducir la multa. Self employed tax form Préstamo para invertir en un certificado de depósito. Self employed tax form   Los intereses que paga sobre el préstamo de un banco o de una institución de ahorros para cumplir el requisito de depósito mínimo para poder recibir un certificado de depósito de la institución y los intereses que usted recibe sobre el certificado son dos conceptos distintos. Self employed tax form Tiene que incluir en sus ingresos el total de los intereses devengados del certificado. Self employed tax form Si detalla sus deducciones, puede deducir los intereses que haya pagado como intereses de inversiones, hasta la cantidad total de sus ingresos netos de inversiones. Self employed tax form Vea Interest Expenses (Gastos de intereses), en el capítulo 3 de la Publicación 550, en inglés. Self employed tax form Ejemplo. Self employed tax form Usted depositó $5,000 en un banco y pidió prestados $5,000 del banco a fin de satisfacer el depósito mínimo de $10,000 que se requiere para comprar un certificado de depósito que vence a los 6 meses. Self employed tax form El certificado generó una utilidad de $575 al vencerse en el año 2013, pero usted recibió sólo $265, cantidad que representa los $575 devengados menos $310 por intereses cobrados sobre los $5,000 del préstamo. Self employed tax form El banco le envía un Formulario 1099-INT del año 2013 que muestra $575 de intereses devengados. Self employed tax form El banco le envía además una confirmación que indica que usted pagó $310 por concepto de intereses durante el año 2013. Self employed tax form Tiene que incluir los $575 en sus ingresos. Self employed tax form Si detalla las deducciones en el Anexo A del Formulario 1040, puede deducir $310 sujetos al límite del ingreso neto de inversiones. Self employed tax form Regalo por abrir una cuenta. Self employed tax form   Si recibe regalos no monetarios o servicios por hacer depósitos o por abrir una cuenta en una institución de ahorros, es posible que tenga que declarar el valor del regalo como intereses. Self employed tax form   Para depósitos menores de $5,000, los regalos o servicios valorados por más de $10 tienen que ser declarados como intereses. Self employed tax form Para depósitos de $5,000 o más, los regalos o servicios valorados por más de $20 tienen que ser declarados como intereses. Self employed tax form El valor de los regalos o servicios se determina según el costo de éstos a la institución financiera. Self employed tax form Ejemplo. Self employed tax form Usted abrió una cuenta de ahorros en su banco local y depositó $800. Self employed tax form La cuenta genera $20 por concepto de intereses. Self employed tax form También, recibió una calculadora con un valor de $15. Self employed tax form Si no se acredita en la cuenta cantidad adicional alguna por intereses durante el año, el Formulario 1099-INT que reciba mostrará $35 de intereses recibidos durante el año. Self employed tax form Tiene que declarar los $35 como ingreso de intereses en su declaración de impuestos. Self employed tax form Intereses sobre los dividendos de seguros. Self employed tax form   Los intereses sobre los dividendos de seguros depositados en una compañía de seguros que se pueden retirar anualmente son tributables en el año durante el cual los intereses se acreditan a su cuenta. Self employed tax form Sin embargo, si usted puede retirarlos sólo en la fecha de aniversario de la póliza (u otra fecha especificada), los intereses son tributables en el año en el cual ocurre tal fecha. Self employed tax form Primas de seguro pagadas por adelantado. Self employed tax form   Todo aumento del valor de primas de seguro pagadas por adelantado, de primas cobradas con anticipación o de fondos para depósito de primas se consideran intereses si se aplica al pago de las primas vencidas de pólizas de seguros o aquéllas que puede retirar. Self employed tax form Títulos de deudas de los Estados Unidos. Self employed tax form   Los intereses sobre títulos de deudas de los EE. Self employed tax form UU. Self employed tax form , tales como las letras del Tesoro, pagarés y bonos emitidos por alguna entidad o agencia de los EE. Self employed tax form UU. Self employed tax form , son tributables para propósitos del impuesto federal sobre los ingresos. Self employed tax form Intereses sobre los reembolsos de impuestos. Self employed tax form   Los intereses que reciba de su reembolso de impuestos constituyen ingresos tributables. Self employed tax form Intereses sobre la adjudicación de una expropiación forzosa. Self employed tax form   Si la autoridad que adjudicó una expropiación le paga intereses para compensarle alguna demora en otorgar la adjudicación, los intereses que resulten serán tributables. Self employed tax form Ventas con pagos a plazos. Self employed tax form   Si un contrato para la venta o intercambio de propiedad estipula que se le abonen pagos diferidos, dicho contrato suele también estipular que se le paguen intereses con los pagos diferidos. Self employed tax form Dichos intereses son tributables en el momento en que los reciba. Self employed tax form Si el contrato de pagos diferidos no estipula el pago de intereses o estipula que se pague una cantidad menor de intereses, una parte de cada pago recibido puede considerarse pago de intereses. Self employed tax form Vea Unstated Interest and Original Issue Discount (OID) (Intereses no divulgados y descuento de la emisión original (OID)) en la Publicación 537, Installment Sales (Ventas a plazos), en inglés. Self employed tax form Intereses de un contrato de anualidad. Self employed tax form   Los intereses acumulados de un contrato de anualidad que haya vendido antes de su fecha de vencimiento son tributables. Self employed tax form Intereses usurarios (intereses abusivos). Self employed tax form   Los intereses usurarios (intereses abusivos) son aquéllos que se cobran a una tasa ilegal. Self employed tax form Se tributan como intereses a menos que la ley estatal automáticamente los convierta en un pago del capital del préstamo. Self employed tax form Ingresos de intereses sobre depósitos bloqueados. Self employed tax form   Excluya de su ingreso bruto todos los intereses devengados de un depósito bloqueado. Self employed tax form Se considera bloqueado un depósito si, al finalizar el año, usted no puede retirar parte alguna del depósito por uno de los motivos siguientes: La institución financiera se ha declarado en quiebra o se ha vuelto insolvente o El estado donde se ubica la institución financiera ha impuesto límites sobre los fondos que se pueden retirar porque otras instituciones financieras dentro del estado están en quiebra o son insolventes. Self employed tax form   La cantidad de intereses que tiene que excluir es la cantidad de intereses que hayan sido acreditados a los depósitos bloqueados menos la suma de las dos cantidades siguientes: La cantidad neta que retiró de esos depósitos durante el año y La cantidad que podría haber retirado para el final del año (sin restarle multa alguna por retiro prematuro de un depósito a término). Self employed tax form Si recibe un Formulario 1099-INT por ingreso de intereses sobre depósitos que se bloquearon al final del año 2013, vea Frozen deposits (Depósitos bloqueados), bajo How To Report Interest Income (Cómo se declaran los ingresos de intereses), en el capítulo 1 de la Publicación 550, en inglés, para más información sobre cómo se declara la exclusión del ingreso por intereses en su declaración de impuestos. Self employed tax form   Los intereses que se excluyen se tratan como si fueran acreditados a su cuenta durante el año siguiente. Self employed tax form Tiene que incluir esos intereses en su ingreso bruto tan pronto como tenga derecho a retirarlos. Self employed tax form Ejemplo. Self employed tax form Se acreditaron $100 durante el año por concepto de intereses a su depósito bloqueado. Self employed tax form Usted retiró $80 pero no pudo retirar más hasta después del final del año. Self employed tax form Tiene que incluir $80 en sus ingresos y excluir $20 de los ingresos de ese año. Self employed tax form Tiene que incluir los $20 en los ingresos del año en el cual pueda retirarlos. Self employed tax form Bonos negociados sin que su precio se ajuste en función de los intereses devengados debido a un mercado chato. Self employed tax form   Si compra, a precio reducido, un bono con intereses morosos o cuyos intereses se han acumulado pero no han sido pagados, se considera que este bono ha sido negociado sin que su precio se haya ajustado en función de los intereses devengados debido a un mercado chato. Self employed tax form Dichos intereses no se consideran ingresos y no tributan como intereses si se pagan después. Self employed tax form Cuando recibe un pago de ese tipo de intereses, se considera una devolucion de capital que reduce lo que queda de la base de costo del bono original. Self employed tax form No obstante, los intereses que se acumulan después de la fecha en que compró el bono son ingresos de intereses tributables para el año en el cual los recibió o se acumularon. Self employed tax form Vea Bonos que se Venden entre las Fechas de Pago de los Intereses , más adelante, para más información. Self employed tax form Préstamos inferiores al costo de mercado. Self employed tax form   Por lo general, un préstamo inferior al costo de mercado es aquél sobre el cual no se cargan intereses o sobre el cual se cargan intereses a una tasa inferior a la tasa federal aplicable. Self employed tax form Vea Below-Market Loans (Préstamos inferiores al costo justo del mercado) en el capítulo 1 de la Publicación 550, en inglés, para más información. Self employed tax form Bonos de Ahorro de los Estados Unidos Esta sección brinda información tributaria acerca de los bonos de ahorro de los Estados Unidos. Self employed tax form Explica cómo se declaran los ingresos de intereses derivados de esos bonos y cómo se tratan ciertos traspasos de los mismos. Self employed tax form Para otra información sobre los bonos de ahorro de los EE. Self employed tax form UU. Self employed tax form , escriba a: Para los bonos en papel de las series EE e I: Bureau of the Public Debt Division of Customer Assistance P. Self employed tax form O. Self employed tax form Box 7012 Parkersburg, WV 26106-7012  Para los bonos electrónicos de las series EE e I: Bureau of the Public Debt Division of Customer Assistance P. Self employed tax form O. Self employed tax form Box 7015 Parkersburg, WV 26106-7015  Para la serie HH/H: Bureau of the Public Debt Division of Customer Assistance P. Self employed tax form O. Self employed tax form Box 2186 Parkersburg, WV 26106-2186 O puede visitar la siguiente página en Internet: www. Self employed tax form treasurydirect. Self employed tax form gov/indiv/indiv. Self employed tax form htm, en inglés. Self employed tax form Contribuyentes que usan el método contable a base de lo devengado. Self employed tax form   Si utiliza el método contable a base de lo devengado, tiene que declarar los intereses derivados de los bonos de ahorro de los EE. Self employed tax form UU. Self employed tax form para cada año a medida que se acumulan dichos intereses. Self employed tax form No puede aplazar la declaración de esos intereses hasta que los reciba o hasta que se venzan los bonos. Self employed tax form El método de contabilidad a base de lo devengado se explica bajo Métodos Contables , en el capítulo 1 de esta publicación. Self employed tax form Contribuyentes que usan el método contable a base de efectivo. Self employed tax form   Si utiliza el método contable a base de efectivo, como la mayoría de los contribuyentes que son personas físicas, declarará los intereses de bonos de ahorro de los EE. Self employed tax form UU. Self employed tax form , por regla general, cuando los reciba. Self employed tax form El método contable a base de efectivo se explica bajo Métodos Contables , en el capítulo 1. Self employed tax form Vea Opciones que tienen los contribuyentes que usan el método a base de efectivo para declarar sus ingresos , más adelante. Self employed tax form Bonos de la serie HH. Self employed tax form    Estos bonos se emitieron a su valor nominal. Self employed tax form Se pagan los intereses dos veces al año mediante depósito directo a su cuenta bancaria. Self employed tax form Si utiliza el método contable a base de efectivo, tiene que declarar los intereses de esos bonos como ingresos en el año en que los recibe. Self employed tax form   Los bonos de la serie HH se ofrecieron por primera vez en el año 1980. Self employed tax form Se ofrecieron por última vez en agosto del año 2004. Self employed tax form Los bonos de la serie H se emitieron antes de 1980. Self employed tax form El método que tiene que usar para los bonos de la serie H es igual al de los bonos de la serie HH. Self employed tax form Si es contribuyente que usa el método a base de efectivo, tiene que declarar los intereses de esos bonos en el año en que los recibe. Self employed tax form   El período de vencimiento para los bonos de la serie H es de 30 años. Self employed tax form El período de vencimiento para los bonos de la serie HH es de 20 años. Self employed tax form Los últimos bonos de la serie H que se emitieron vencieron en el año 2009. Self employed tax form Bonos de la serie EE y de la serie I. Self employed tax form   Los intereses sobre estos bonos se pagan al rescatarlos. Self employed tax form La diferencia entre el precio de compra y el valor de rescate son intereses tributables. Self employed tax form Bonos de la serie EE. Self employed tax form   Los bonos de la serie EE se ofrecieron por primera vez en enero de 1980. Self employed tax form Tienen un período de vencimiento de 30 años. Self employed tax form   Antes de julio de 1980, se emitían bonos de la serie E. Self employed tax form El período de vencimiento original de 10 años para los bonos de la serie E se extendió a 40 años para los bonos emitidos antes de diciembre de 1965 y a 30 años para los bonos emitidos después de noviembre de 1965. Self employed tax form Los bonos de la serie EE y de la serie E en papel se emiten con descuento. Self employed tax form El valor nominal de esos bonos se le paga a usted en la fecha de vencimiento. Self employed tax form Los bonos electrónicos de la serie EE se emiten a su valor nominal. Self employed tax form El valor nominal, más los intereses acumulados, se le pagan a usted en la fecha de vencimiento. Self employed tax form A partir del 1 de enero de 2012, los bonos de ahorro en papel ya no se venden en las instituciones financieras. Self employed tax form   Los dueños de bonos de las series EE en papel pueden convertirlos en bonos electrónicos. Self employed tax form Estos bonos convertidos no retienen la denominación indicada en el certificado impreso; sin embargo, aparecerán a su precio de valor de compra (más otros intereses acumulados). Self employed tax form Bonos de la serie I. Self employed tax form   Los bonos de la serie I se ofrecieron por primera vez en el año 1998. Self employed tax form Éstos son bonos emitidos en su valor nominal que se ajusta con un índice inflacionario. Self employed tax form Tienen un período de vencimiento de 30 años. Self employed tax form El valor nominal, más los intereses acumulados de esos bonos, se le pagan a usted en su fecha de vencimiento. Self employed tax form Opciones que tienen los contribuyentes que usan el método a base de efectivo para declarar sus ingresos. Self employed tax form   Si declara sus ingresos utilizando el método a base de efectivo, puede declarar los intereses de los bonos de la serie EE, de la serie E y de la serie I de una de las maneras siguientes: Método 1. Self employed tax form Postergue la declaración de los intereses hasta el año en que rescate o venda los bonos o el año en que se venzan, lo que ocurra primero. Self employed tax form (No obstante, vea Cambio de los bonos de ahorro , más adelante). Self employed tax form  Nota: Los bonos de la serie EE emitidos en 1983 vencieron en el año 2013. Self employed tax form Si usted utiliza el Método 1, por regla general, tendrá que declarar los intereses de esos bonos en su declaración de impuestos del año 2013. Self employed tax form Los últmos bonos de la serie E fueron emitidos en 1980 y vencieron en el año 2010. Self employed tax form Si utilizó el Método 1, por regla general, tuvo que haber declarado los intereses de esos bonos en su declaración del año 2010. Self employed tax form Método 2. Self employed tax form Opte por declarar el aumento en el valor de rescate como intereses en su declaración de impuestos cada año. Self employed tax form Tiene que utilizar el mismo método para declarar los intereses de todos los bonos de la serie EE, la serie E y la serie I. Self employed tax form Si no escoge utilizar el Método 2 al declarar el aumento del valor de rescate como intereses cada año, tiene que utilizar el Método 1. Self employed tax form    Si piensa convertir en efectivo sus bonos en el mismo año durante el cual pagará gastos por estudios de enseñanza superior, quizás le convenga utilizar el Método 1 porque podría excluir de sus ingresos los intereses de tales bonos. Self employed tax form Para saber cómo hacerlo, vea Programa de Bonos de Ahorro para Estudios , más adelante. Self employed tax form Cómo cambiarse del Método 1. Self employed tax form   Si desea cambiar su método para declarar los intereses de bonos de ahorro del Método 1 al Método 2, puede hacerlo sin pedirle permiso al IRS. Self employed tax form Para el año del cambio, tiene que declarar todos los intereses que se hayan acumulado hasta la fecha del cambio de método y que no se hayan declarado anteriormente para todos sus bonos. Self employed tax form   Una vez tomada la decisión de declarar los intereses cada año, tiene que seguir haciéndolo para todos los bonos de la serie EE, la serie E y la serie I más para aquellos bonos que obtenga en el futuro, a no ser que pida autorización para cambiar el método, tal como se explica a continuación. Self employed tax form Cómo cambiarse del Método 2. Self employed tax form   Para cambiarse del Método 2 al Método 1, tiene que pedirle autorización al IRS. Self employed tax form Dicha autorización se le otorgará automáticamente si le envía al IRS una declaración por escrito que incluya todos los siguientes requisitos: Ha escrito a mano o a máquina en la parte superior: “131”. Self employed tax form La declaración incluye su nombre y su número de Seguro Social escrito debajo de “131”. Self employed tax form La declaración incluye el año del cambio (la fecha de inicio y en la que finalice). Self employed tax form La declaración identifica los bonos de ahorro por los que pide autorización para este cambio. Self employed tax form La declaración incluye su acuerdo para: Declarar todos los intereses sobre todo bono adquirido durante o después del año de cambio cuando ocurre la enajenación, el rescate o vencimiento de dichos intereses, lo que suceda primero y Declarar todos los intereses sobre todo bono adquirido antes del año de cambio cuando ocurre la enajenación, el rescate o vencimiento de dichos intereses, lo que suceda primero a excepción de los intereses declarados en años tributarios anteriores. Self employed tax form   Tiene que adjuntar esa declaración a su declaración de impuestos del año del cambio, la cual tendrá que presentar para la fecha de vencimiento de la declaración (incluyendo prórrogas). Self employed tax form   Puede recibir una prórroga automática de hasta 6 meses desde la fecha de vencimiento para presentar su declaración de impuestos (excluyendo prórrogas) del año del cambio para poder presentar la declaración anterior, junto con una declaración de impuestos enmendada. Self employed tax form En la parte superior de la declaración, escriba a mano o a máquina “Filed pursuant to section 301. Self employed tax form 9100-2” (Se presenta de acuerdo con la sección 301. Self employed tax form 9100-2). Self employed tax form Para obtener dicha prórroga, usted tuvo que haber presentado su declaración de impuestos original para su fecha de vencimiento (incluyendo prórrogas). Self employed tax form    Para la fecha en que presente la declaración original junto con su declaración de impuestos, también tiene que enviar una copia firmada a la dirección siguiente:  Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) P. Self employed tax form O. Self employed tax form Box 7604 Benjamin Franklin Station Washington, DC 20044   Si utiliza un servicio de entrega privado, envíe la copia firmada a la dirección siguiente:  Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) Room 5336 1111 Constitution Avenue, NW  Washington, DC 20224   Puede pedir autorización para cambiarse del Método 2 al Método 1 presentando el Formulario 3115, Application for Change in Accounting Method (Solicitud de cambio en método contable), en inglés, en vez de presentar la declaración descrita anteriormente. Self employed tax form En tal caso, debe seguir las instrucciones para el formulario si desea un cambio automático. Self employed tax form No hay cargo administrativo. Self employed tax form Copropietarios. Self employed tax form   Si un bono de ahorro de los EE. Self employed tax form UU. Self employed tax form se emite a nombre de copropietarios, por ejemplo usted y su hijo o usted y su cónyuge, los intereses devengados del bono son tributables generalmente para el copropietario que haya comprado el bono. Self employed tax form Utilización de los fondos de uno de los copropietarios. Self employed tax form    Si utilizó sus propios fondos para comprar el bono, tiene que pagar el impuesto sobre los intereses devengados. Self employed tax form Esto es así aun cuando deje que el otro propietario rescate el bono y se quede con las ganancias. Self employed tax form En estas circunstancias, ya que el otro propietario recibirá un Formulario 1099-INT en el momento de rescatar el bono, éste tiene que facilitarle a usted otro Formulario 1099-INT indicando la cantidad de los intereses del bono imponibles en su caso. Self employed tax form El copropietario que rescata el bono es un “nominatario”. Self employed tax form Vea Nominee distributions (Distribuciones al nominatario), bajo How To Report Interest Income (Cómo se declaran los ingresos de intereses), en el capítulo 1 de la Publicación 550, en inglés, para más información sobre cómo un individuo que es nominatario declara ingresos de intereses que pertenecen a otro individuo. Self employed tax form Utilización de los fondos de ambos copropietarios. Self employed tax form   Si usted y el otro propietario comparten el costo de un bono, ambos tienen la responsabilidad de pagar impuestos sobre los intereses derivados en proporción con la cantidad que cada uno realmente pagó por el bono. Self employed tax form Bienes gananciales. Self employed tax form   Si usted y su cónyuge viven en un estado donde rigen las leyes de los bienes gananciales y tienen bonos que sean bienes gananciales, se considera que cada uno recibe la mitad del total de los intereses recibidos. Self employed tax form Si presentan declaraciones de impuestos por separado, por lo general, cada uno tiene que declarar la mitad de los intereses recibidos de sus bonos. Self employed tax form Para más información, vea la Publicación 555, en inglés. Self employed tax form Tabla 7-1. Self employed tax form   Estas reglas se muestran en la Tabla 7-1 . Self employed tax form Traspaso de la posesión legal. Self employed tax form   Si compró bonos de la serie E, serie EE o serie I con fondos que pertenecen únicamente a usted y decidió que se volvieran a emitir sólo a nombre de su copropietario o del beneficiario, tiene que incluir todos los intereses devengados sobre esos bonos en su ingreso bruto para el año de la reemisión, con tal de que ninguna parte haya sido declarada anteriormente. Self employed tax form No obstante, si los bonos se volvieron a emitir sólo a nombre suyo, no tiene que declarar los intereses que se hayan acumulado en ese momento. Self employed tax form   Esta regla también corresponde cuando se traspasan los bonos (que no sean bonos considerados bienes gananciales) entre los cónyuges o como consecuencia de un fallo de divorcio. Self employed tax form Compra conjunta. Self employed tax form   Si usted y el otro propietario aportan fondos para obtener bonos de la serie E, serie EE o serie I conjuntamente y luego deciden que se vuelvan a emitir sólo a nombre de su copropietario, tiene que incluir en su ingreso bruto para el año de la reemisión la parte de usted de los intereses de aquellos bonos que no haya declarado anteriormente. Self employed tax form En el momento de la reemisión, el ex copropietario no tiene que declarar en el ingreso bruto la parte de él o ella de los intereses devengados que no se declararon antes del traspaso. Self employed tax form Sin embargo, esos intereses, así como todos los demás intereses que se devenguen después de la reemisión, constituyen ingreso tributable del ex copropietario. Self employed tax form   Esta regla para declarar los ingresos también es aplicable cuando se vuelven a emitir los bonos a nombre del copropietario anterior y a nombre de un copropietario nuevo. Self employed tax form Sin embargo, el nuevo copropietario sólo debe declarar su parte de los intereses devengados después de la reemisión. Self employed tax form   Si los bonos que usted y el copropietario compraron conjuntamente se emiten de nuevo a cada uno por separado según la misma proporción correspondiente a su precio de compra, ninguno tiene que declarar en ese momento los intereses devengados antes de la reemisión de los bonos. Self employed tax form    Tabla 7-1. Self employed tax form ¿Quién Paga el Impuesto sobre los Intereses de Bonos de Ahorro de los Estados Unidos? SI. Self employed tax form . Self employed tax form . Self employed tax form ENTONCES tiene(n) que declarar los intereses. Self employed tax form . Self employed tax form . Self employed tax form usted compra un bono a nombre suyo y a nombre de otro individuo como copropietarios, utilizando fondos que sólo pertenecían a usted usted. Self employed tax form usted compra un bono a nombre de otro individuo, el cual es propietario único del bono el individuo para el cual usted ha comprado el bono. Self employed tax form usted y otro individuo compran un bono como copropietarios, utilizando fondos que los dos contribuyen al precio de compra tanto usted como el otro copropietario, en proporción a la cantidad que cada uno pagó por el bono. Self employed tax form usted y su cónyuge, que viven en un estado donde rigen las leyes de los bienes gananciales, compran un bono que se considera bienes gananciales usted y su cónyuge. Self employed tax form Si presentan declaraciones por separado, tanto usted como su cónyuge, por lo general, deben declarar la mitad de los intereses recibidos. Self employed tax form Ejemplo 1. Self employed tax form Tanto usted como su cónyuge gastaron cantidades iguales para comprar un bono de la serie EE que valía $1,000. Self employed tax form Se les emitió el bono como copropietarios. Self employed tax form Los dos decidieron posponer la declaración de los intereses derivados del bono. Self employed tax form Luego, decidieron que se emitiera el bono de nuevo como dos bonos cuyo valor individual es de $500, uno a nombre suyo y el otro a nombre de su cónyuge. Self employed tax form Ninguno de ustedes tiene que declarar en ese momento los intereses devengados hasta la fecha de la reemisión de los bonos. Self employed tax form Ejemplo 2. Self employed tax form Compró un bono de la serie EE por $1,000, utilizando únicamente sus propios fondos. Self employed tax form El bono se les emitió a usted y a su cónyuge como copropietarios. Self employed tax form Los dos decidieron posponer la declaración de los intereses derivados del bono. Self employed tax form Luego, decidieron que se emitiera el bono de nuevo como dos bonos cuyo valor individual es de $500, uno a nombre suyo y el otro a nombre de su cónyuge. Self employed tax form Tiene que declarar la mitad de los intereses devengados hasta la fecha de la reemisión de los bonos. Self employed tax form Traspaso de bonos a un fideicomiso. Self employed tax form   Si tiene bonos de la serie E, serie EE o serie I pero los traspasa a un fideicomiso durante el año, renunciando todos sus derechos de propiedad, tendrá que incluir en sus ingresos para tal año los intereses devengados hasta la fecha del traspaso (si no los declaró anteriormente). Self employed tax form No obstante, si se le considera a usted dueño del fideicomiso y si el aumento del valor antes y después del traspaso sigue siendo tributable para usted, podrá continuar difiriendo la declaración de los intereses obtenidos durante cada año. Self employed tax form Tiene que incluir el total de los intereses en sus ingresos del año en el cual decida canjear los bonos por efectivo o enajenarlos o en el año durante el cual los bonos por fin venzan, lo que ocurra primero. Self employed tax form   Las mismas reglas se aplican en el caso de intereses de los bonos de la serie E o de la serie EE no declarados anteriormente si el traspaso a un fideicomiso tuvo que ver con bonos de la serie HH o de la serie H que haya adquirido al cambiar dichos bonos por otros de la serie E o de la serie EE. Self employed tax form Vea Cambio de los bonos de ahorro , más adelante. Self employed tax form Personas que han fallecido. Self employed tax form   El modo de declarar el ingreso de intereses de los bonos de la serie E, serie EE o serie I, después del fallecimiento del dueño (el difunto), depende de los métodos contables y de la declaración de ingresos que éste haya utilizado anteriormente. Self employed tax form Esta situación se explica en el capítulo 1 de la Publicación 550, en inglés. Self employed tax form Cambio de los bonos de ahorro. Self employed tax form   Si postergó la declaración de los intereses de sus bonos de la serie E o de la serie EE, significa que no reconoció ingresos tributables cuando cambió esos bonos por otros de la serie HH o de la serie H, a no ser que haya recibido dinero en efectivo como parte del cambio. Self employed tax form (No se permite cambiar los bonos de la serie I por bonos de la serie HH. Self employed tax form Después del 31 de agosto del año 2004, ya no puede cambiar otras series de bonos por los de la serie HH). Self employed tax form Todo efectivo que reciba se considera ingresos hasta la cantidad de los intereses devengados sobre los bonos cambiados. Self employed tax form Al vencer sus bonos de la serie HH o de la serie H o al enajenarlos antes de su vencimiento, tiene que declarar como intereses la diferencia entre el valor de rescate y su costo original. Self employed tax form El costo de los bonos es la suma de la cantidad que pagó al cambiar los bonos de la serie EE o de la serie E en cuestión, más toda cantidad que haya tenido que pagar cuando se efectuó el cambio. Self employed tax form Ejemplo. Self employed tax form Usted cambió bonos de la serie EE (sobre los cuales optó por posponer la declaración de los intereses) por otros de la serie HH, cuyo valor es de $2,500, más $223 en efectivo. Self employed tax form Declaró los $223 como ingresos tributables en su declaración de impuestos. Self employed tax form Para la fecha del cambio, los bonos de la serie EE habían acumulado intereses de $523 y tenían un valor de rescate de $2,723. Self employed tax form Usted guarda los bonos de la serie HH hasta la fecha de su vencimiento en que recibirá $2,500. Self employed tax form Tiene que declarar $300 como ingresos de intereses en el año de vencimiento. Self employed tax form Esos $300 representan la diferencia entre el valor de rescate ($2,500) y el costo de los bonos ($2,200), o sea, la cantidad que pagó por adquirir los bonos de la serie EE. Self employed tax form (Es también la diferencia entre los intereses acumulados de $523 sobre los bonos de la serie EE y los $223 en efectivo recibidos en el cambio). Self employed tax form Opción de declarar los intereses en el año del cambio. Self employed tax form   Usted podría optar por tratar todos los intereses acumulados anteriormente, no declarados, de los bonos de la serie E o de la serie EE que se cambiaron por otros de la serie HH como ingresos en el año en que se efectuó el cambio. Self employed tax form Si opta por lo anterior, esto se considerará un cambio del Método 1. Self employed tax form Vea Cómo cambiarse del Método 1 bajo Bonos de la serie EE y de la serie I, explicado anteriormente. Self employed tax form Formulario 1099-INT para la declaración de los intereses de los bonos de ahorros de los Estados Unidos. Self employed tax form   Cada vez que convierte un bono en dinero efectivo, el banco u otro pagador que lo rescate tiene que darle el Formulario 1099-INT si la parte del pago correspondiente a los intereses recibidos es $10 o más. Self employed tax form El recuadro 3 del Formulario 1099-INT debe mostrar los intereses como la diferencia entre la cantidad que recibió y la cantidad que se pagó por el bono. Self employed tax form No obstante, el Formulario 1099-INT puede mostrar una cantidad mayor de los intereses de lo que tiene que incluir en su declaración de impuestos sobre los ingresos. Self employed tax form Por ejemplo, esto puede ocurrir si alguna de las condiciones siguientes es aplicable: Usted declaró el aumento al valor de rescate durante cada año. Self employed tax form La cantidad de intereses indicada en el Formulario 1099-INT no será reducida por las cantidades que haya incluido en su ingreso en años anteriores. Self employed tax form Usted recibió el bono de un difunto. Self employed tax form La cantidad de intereses indicada en el Formulario 1099-INT no se verá reducida por los intereses declarados por el difunto antes de su fallecimiento, ni en la declaración final del difunto, ni por los herederos en la declaración de impuestos sobre la herencia. Self employed tax form Se traspasó la posesión del bono. Self employed tax form La cantidad de intereses indicada en el Formulario 1099-INT no se reducirá por intereses acumulados antes del traspaso. Self employed tax form A usted lo nombraron copropietario y el otro propietario contribuyó fondos para comprar el bono. Self employed tax form La cantidad de los intereses indicada en el Formulario 1099-INT no será reducida por las cantidades que haya recibido como nominatario por el otro copropietario. Self employed tax form (Vea Copropietarios , anteriormente en este capítulo, para más información acerca de los requisitos sobre cómo declarar ingresos de intereses). Self employed tax form Usted recibió el bono de una distribución tributable de un plan de jubilación o un plan de participación en las ganancias. Self employed tax form La cantidad de intereses indicada en el Formulario 1099-INT no será reducida por la parte de intereses de la cantidad tributable como distribución del plan y no tributable como intereses. Self employed tax form (Esta cantidad suele aparecer para el año de la distribución en el Formulario 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Self employed tax form (Distribuciones de planes de pensión, anualidades, jubilación o participación en las ganancias, arreglos IRA, contratos de seguros, etc. Self employed tax form ), en inglés). Self employed tax form   Para más información sobre cómo incluir la cantidad correcta de intereses en su declaración de impuestos, vea Cómo se Declaran los Ingresos de Intereses , más adelante. Self employed tax form En la Publicación 550, en inglés, se incluyen ejemplos sobre cómo se declaran esas cantidades. Self employed tax form    Los intereses recibidos de los bonos de ahorro de los EE. Self employed tax form UU. Self employed tax form están exentos de los impuestos estatales y locales. Self employed tax form El recuadro 3 del Formulario 1099-INT que usted reciba indicará la cantidad de los intereses por bonos de ahorros de los Estados Unidos. Self employed tax form Programa de Bonos de Ahorro para Estudios Quizás pueda excluir de sus ingresos el total o una parte de los intereses que reciba al rescatar ciertos bonos de ahorro de los EE. Self employed tax form UU. Self employed tax form calificados durante el año si pagó gastos de estudios de enseñanza superior calificados durante el mismo año. Self employed tax form Dicha exclusión se llama Education Savings Bond Program (Programa de bonos de ahorro para estudios). Self employed tax form Si su estado civil para la declaración es casado que presenta una declaración por separado, no reúne los requisitos para tal exclusión. Self employed tax form Formulario 8815. Self employed tax form   Utilice el Formulario 8815, en inglés, para calcular la cantidad de su exclusión. Self employed tax form Incluya este formulario con su Formulario 1040 o Formulario 1040A. Self employed tax form Bonos de ahorro calificados de los Estados Unidos. Self employed tax form   Un bono de ahorro calificado de los EE. Self employed tax form UU. Self employed tax form es aquel bono de la serie EE emitido después de 1989 o un bono de la serie I. Self employed tax form Se tiene que haber emitido a nombre suyo (propietario único) o a nombre suyo y el de su cónyuge (copropietarios). Self employed tax form Usted tiene que haber cumplido al menos 24 años de edad antes de la fecha de emisión del bono. Self employed tax form Por ejemplo, un bono que haya comprado un padre y haya sido emitido a nombre de su hijo menor de 24 años de edad, no reúne los requisitos para ser excluido por el padre ni tampoco por el hijo. Self employed tax form    La fecha en que se emite un bono puede ser anterior a la fecha de compra del bono porque la fecha de emisión asignada a un bono corresponde al primer día del mes durante el cual se compra. Self employed tax form Beneficiario. Self employed tax form   Puede nombrar a cualquier individuo (incluyendo un hijo menor de edad) para que sea beneficiario del bono. Self employed tax form Verificación del IRS. Self employed tax form   Si declara la exclusión, el IRS lo verificará utilizando información sobre el rescate de bonos obtenido del Departamento del Tesoro. Self employed tax form Gastos calificados. Self employed tax form   Los gastos de estudios de enseñanza superior calificados son matrícula y otros gastos necesarios para que usted, su cónyuge o su dependiente (por el cual usted puede reclamar una exención) asista a una institución de enseñanza superior que reúna los requisitos. Self employed tax form   En los gastos calificados se incluye toda aportación que haga a un programa de matrícula calificada o a una cuenta de ahorro para estudios Coverdell. Self employed tax form   En los gastos calificados no se incluyen los de vivienda y alimentación, ni gastos de cursos de actividades deportivas, recreativas o de pasatiempo que no formen parte de un programa de estudios para obtener un título o certificado. Self employed tax form Instituciones de enseñanza superior que reúnen los requisitos. Self employed tax form   En esta clase de institución se incluyen la mayoría de las universidades públicas, particulares y sin fines de lucro, así como colegios universitarios (colleges) y escuelas vocacionales acreditados y que cumplan las condiciones para participar en programas de asistencia financiera de estudios del Departamento de Educación de Estados Unidos. Self employed tax form Reducción por ciertos beneficios. Self employed tax form   Usted tiene que restar de sus gastos de estudios de enseñanza superior calificados los siguientes beneficios exentos de impuestos: La parte exenta de impuestos por becas de estudios y de desarrollo profesional (vea Becas de estudios y becas de desarrollo profesional en el capítulo 12). Self employed tax form Gastos que se utilizaron para calcular la parte exenta de impuestos de distribuciones de una cuenta de ahorros para estudios Coverdell ESA. Self employed tax form Gastos que se utilizaron para calcular la parte exenta de impuestos de distribuciones de un programa calificado de matrícula. Self employed tax form Todo pago exento de impuestos (que no sea regalo o herencia) recibido para gastos educativos, tales como: Beneficios de asistencia educativa para veteranos, Reducciones de matrícula calificada o Beneficios de asistencia educativa facilitados por su empleador. Self employed tax form Todo gasto que se haya utilizado al calcular el crédito tributario de oportunidad para los estadounidenses y el crédito vitalicio de aprendizaje. Self employed tax form Cantidad excluible. Self employed tax form   Si el total de los ingresos recibidos (capital e intereses) de bonos de ahorro calificados de los EE. Self employed tax form UU. Self employed tax form que rescató durante el año no excede de sus gastos de estudios de enseñanza superior calificados ajustados para ese año, quizás pueda excluir el total de los intereses que haya recibido. Self employed tax form Si los ingresos superan sus gastos de estudios para el año, quizás pueda excluir sólo una parte de tales intereses. Self employed tax form   Para determinar la cantidad que se puede excluir, multiplique la parte correspondiente a los intereses de los ingresos por una fracción. Self employed tax form El numerador de la fracción es el total de los gastos por estudios de enseñanza superior calificados que pagó durante el año. Self employed tax form El denominador es el total de los ingresos que recibió durante el año. Self employed tax form Ejemplo. Self employed tax form En febrero del año 2013, Marcos y Juana, un matrimonio, cobraron un bono de ahorro de los EE. Self employed tax form UU. Self employed tax form de la serie EE que compraron en abril de 1997. Self employed tax form Recibieron ingresos de $8,372 que constan de $5,000 por concepto de capital y $3,372 por intereses. Self employed tax form Durante el año 2013, gastaron $4,000 por la matrícula de su hija en una universidad. Self employed tax form Ellos no reclaman ningún crédito educativo por esa cantidad y la hija no recibió ninguna asistencia monetaria exenta de impuestos para sufragar los gastos educativos. Self employed tax form Ellos pueden excluir $1,611 ($3,372 x ($4,000 ÷ $8,372)) de intereses para el año 2013. Self employed tax form Tienen que pagar impuestos sobre los intereses restantes de $1,761 ($3,372 − $1,611). Self employed tax form Límite del ingreso bruto ajustado modificado. Self employed tax form   La exclusión de intereses estará limitada si su ingreso bruto ajustado modificado es de: $74,700 a $89,700 para los contribuyentes cuyo estado civil para la declaración de impuestos es soltero o cabeza de familia y $112,050 a $142,050 para los contribuyentes casados que presentan una declaración conjunta o para un viudo que reúne los requisitos con hijo dependiente. Self employed tax form No puede tomar la exclusión de intereses si su ingreso bruto ajustado modificado equivale al límite máximo para su estado civil o supera dicho límite. Self employed tax form   El ingreso bruto ajustado modificado, para propósitos de la exclusión, es el ingreso bruto ajustado (línea 37 del Formulario 1040 o línea 21 del Formulario 1040A) determinado antes de considerar la exclusión de intereses y ajustado por restituir cualesquiera de los siguientes: Exclusión de ingresos devengados de fuentes en el extranjero, Exclusión o deducción de asignaciones por alojamiento en el extranjero, Exclusión de ingresos para residentes bona fide de la Samoa Estadounidense, Exclusión de ingresos de fuentes en Puerto Rico, Exclusión de beneficios de adopción recibidos de acuerdo con un programa de asistencia de adopción del empleador, Deducción por matrícula y gastos relacionados con los estudios, Deducción de los intereses sobre un préstamo de estudios y Deducción por actividades nacionales de producción. Self employed tax form   Utilice la hoja de trabajo para la línea 9 en las instrucciones del Formulario 8815, disponibles en inglés, para calcular su ingreso bruto ajustado modificado. Self employed tax form Si reclama cualquiera de las exclusiones o deducciones de las partidas enumeradas anteriormente (menos 6, 7 y 8), sume la cantidad de la exclusión o deducción (con excepción de las partidas 6, 7 y 8) a la cantidad de la línea 5 de la hoja de trabajo. Self employed tax form Luego, anote el total en la línea 9 del Formulario 8815 como su ingreso bruto ajustado modificado. Self employed tax form   Si incurrió en gastos de intereses de inversión para poder recibir regalías y otros ingresos de inversiones, vea Education Savings Bond Program (Programa de bonos de ahorro utilizados para propósitos educativos), en el capítulo 1 de la Publicación 550, en inglés. Self employed tax form Documentación. Self employed tax form Si declara la exclusión de intereses, tiene que mantener un registro por escrito de los bonos de ahorro de los EE. Self employed tax form UU. Self employed tax form calificados que usted rescató. Self employed tax form Ese registro tiene que incluir el número de serie, fecha de emisión, valor nominal y el total de los ingresos recibidos (capital e intereses) de cada bono. Self employed tax form Puede utilizar el Formulario 8818, en inglés, para documentar dicha información. Self employed tax form Además, debe guardar facturas, recibos, cheques cancelados u otra documentación para comprobar los gastos por estudios de enseñanza superior calificados que haya pagado durante el año. Self employed tax form Letras, Pagarés y Bonos del Tesoro de los Estados Unidos Las letras, pagarés y bonos del Tesoro de los EE. Self employed tax form UU. Self employed tax form son títulos de deudas directas (obligaciones) del gobierno federal de los Estados Unidos. Self employed tax form Tributación de los intereses. Self employed tax form   Los ingresos de intereses que se reciben de letras, pagarés y bonos del Tesoro de los EE. Self employed tax form UU. Self employed tax form están sujetos al impuesto federal sobre los ingresos; sin embargo, está exento de todo impuesto estatal y local sobre los ingresos. Self employed tax form Deberá recibir el Formulario 1099-INT en el cual se muestra (en el recuadro 3) la cantidad de intereses que se le pagaron por el año. Self employed tax form   Los pagos de capital e intereses serán acreditados, por regla general, a su cuenta corriente o de ahorros designada mediante depósito directo utilizando el sistema Treasury Direct®. Self employed tax form Letras del Tesoro. Self employed tax form   Estas letras suelen tener un período de vencimiento de 4, 13, 26 ó 52 semanas. Self employed tax form Generalmente, se emiten con descuento por la cantidad de $100 y múltiplos de $100. Self employed tax form La diferencia entre el valor descontado que paga por las letras y el valor nominal que recibirá al vencimiento de éstas se considera ingreso de intereses. Self employed tax form Por lo general, usted declara este ingreso de intereses cuando se le pagan las letras en la fecha de vencimiento. Self employed tax form Si usted pagó una prima por una letra (una cantidad mayor que el valor nominal), generalmente declara la prima como una deducción conforme a la sección 171 cuando se le paga la letra en la fecha de vencimiento. Self employed tax form Pagarés y bonos del Tesoro. Self employed tax form   Los pagarés del Tesoro tienen períodos de vencimiento de más de 1 año y de hasta 10 años. Self employed tax form Los bonos del Tesoro tienen períodos de vencimiento de más de 10 años. Self employed tax form Tanto los pagarés como los bonos del Tesoro suelen emitirse en denominaciones de $100 hasta $1 millón y pagar intereses cada 6 meses. Self employed tax form Por lo general, declarará dichos intereses en el año en que se le pagaron. Self employed tax form Para más información, vea U. Self employed tax form S. Self employed tax form Treasury Bills, Notes, and Bonds (Letras, pagarés y bonos del Tesoro de los Estados Unidos), en el capítulo 1 de la Publicación 550, en inglés. Self employed tax form Para información adicional sobre los pagarés y bonos del Tesoro, escriba a la dirección siguiente:    Bureau of the Public Debt P. Self employed tax form O. Self employed tax form Box 7015 Parkersburg, WV 26106-7015 O puede visitar la siguiente página en Internet: www. Self employed tax form treasurydirect. Self employed tax form gov/indiv/indiv. Self employed tax form htm, en inglés. Self employed tax form Para más información sobre los bonos de ahorro de la serie EE, la serie I o la serie HH, vea Bonos de Ahorro de los Estados Unidos , anteriormente en este capítulo. Self employed tax form Valores del Tesoro protegidos de la inflación (TIPS, por sus siglas en inglés). Self employed tax form   Estos valores pagan intereses dos veces al año a una tasa fija, basada en una cantidad de capital que se ajusta para considerar los efectos de la inflación y deflación. Self employed tax form Para saber cómo se tratan esos valores para propósitos tributarios, vea Inflation-Indexed Debt Instruments (Instrumentos de la deuda indexados según la inflación), bajo Original Issue Discount (OID) (Descuento de la emisión original (OID)) en la Publicación 550, en inglés. Self employed tax form Bonos que se Venden Entre las Fechas de Pago de los Intereses Si usted vende un bono entre las fechas de pago de los intereses, una parte del precio de venta se considera intereses acumulados hasta la fecha de venta. Self employed tax form Tiene que declarar dicha parte del precio de venta como ingreso de intereses para el año de la venta. Self employed tax form Si compra un bono entre las fechas de pago de los intereses, una parte del precio de compra se considera intereses acumulados antes de la fecha de compra. Self employed tax form Cuando se le paguen dichos intereses, tiene que tratarlos como devolución de su inversión de capital, en lugar de ingresos de intereses, mediante la reducción de su base en el bono. Self employed tax form Vea Accrued interest on bonds (Intereses acumulados sobre los bonos), bajo How To Report Interest Income (Cómo se declaran los ingresos de intereses), en el capítulo 1 de la Publicación 550, en inglés, para más detalles sobre cómo se declara el pago. Self employed tax form Seguros Los pagos de seguro de vida que recibe como beneficiario de la persona asegurada no suelen ser tributables. Self employed tax form Sin embargo, si usted recibe los pagos a plazos, tendrá que declarar normalmente una parte de cada plazo como ingreso de intereses. Self employed tax form Para más información sobre los pagos de seguros recibidos a plazos, vea la Publicación 525, Taxable and Nontaxable Income (Ingreso tributable y no tributable), en inglés. Self employed tax form Anualidad. Self employed tax form   Si compra una anualidad con los ingresos recibidos de una póliza de seguro de vida, los pagos de anualidad que reciba estarán sujetos a impuestos como ingreso de pensión y anualidad de un plan no calificado, no como ingreso de intereses. Self employed tax form Vea el capítulo 10 para más información sobre el ingreso de pensiones y anualidades de planes no calificados. Self employed tax form Obligaciones del Gobierno Estatal o Local Los intereses sobre un bono usado para financiar operaciones del gobierno no suelen ser tributables si dicho bono se emite por un estado, el Distrito de Columbia, una posesión (territorio no autónomo) de los Estados Unidos o cualesquiera de sus subdivisiones políticas. Self employed tax form Los bonos que se emitieron después de 1982 (esto incluye los bonos para el desarrollo económico de tribus emitidos después del 17 de febrero de 2009) por un gobierno de una tribu de indios estadounidenses se tratan como si fueran emitidos por un estado. Self employed tax form Los intereses sobre dichos bonos suelen estar exentos de impuestos si los bonos son parte de una emisión de la cual sustancialmente todas las ganancias se han de usar en el desempeño de alguna función esencial del gobierno. Self employed tax form Para obtener información acerca de los bonos garantizados federalmente, bonos de ingresos hipotecarios, bonos de arbitraje, bonos calificados del crédito tributario, bonos para el financiamiento de proyectos parcialmente privados y los bonos “Build America” (Construir en América), vea State or Local Government Obligations (Obligaciones del gobierno estatal o local), en el capítulo 1 de la Publicación 550, en inglés. Self employed tax form Requisito de declarar información. Self employed tax form   Si tiene que presentar una declaración de impuestos, se le requiere que muestre en dicha declaración todos los intereses exentos resultantes de los bonos mencionados anteriormente que haya recibido. Self employed tax form Esto es sólo un requisito para la decla
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IRS Withholding Calculator

If you are an employee, the Withholding Calculator can help you determine whether you need to give your employer a new  Form W-4, Employee's Withholding Allowance Certificate to avoid having too much or too little Federal income tax withheld from your pay. You can use your results from the calculator to help fill out the form.

Who Can Benefit From The Withholding Calculator?

  • Employees who would like to change their withholding to reduce their tax refund or their balance due;
  • Employees whose situations are only approximated by the worksheets on the paper W-4 (e.g., anyone with concurrent jobs, or couples in which both are employed; those entitled to file as Head of Household; and those with several children eligible for the Child Tax Credit);
  • Employees with non-wage income in excess of their adjustments and deductions, who would prefer to have tax on that income withheld from their paychecks rather than make periodic separate payments through the estimated tax procedures.

CAUTION:    If you will be subject to alternative minimum tax, self-employment tax, or other taxes; you will probably achieve more accurate withholding by following the instructions in Pub 505: Tax Withholding and Estimated Tax.

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Tips For Using This Program

  • Have your most recent pay stubs handy.
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To Change Your Withholding:

  1. Use your results from this calculator to help you complete a new Form W-4, Employee's Withholding Allowance Certificate.
  2. Submit the completed Form to your employer.
Page Last Reviewed or Updated: 02-Jan-2014

IRS Withholding Calculator

 

The Self Employed Tax Form

Self employed tax form Publication 721 - Main Content Table of Contents Part I General InformationRefund of Contributions Tax Withholding and Estimated Tax Filing Requirements Part II Rules for RetireesAnnuity starting date. Self employed tax form Gross monthly rate. Self employed tax form Your cost. Self employed tax form Choosing a survivor annuity after retirement. Self employed tax form Canceling a survivor annuity after retirement. Self employed tax form Annuity starting date after 1986. Self employed tax form Annuity starting date before 1987. Self employed tax form Simplified Method General Rule Three-Year Rule Alternative Annuity Option Federal Gift Tax Retirement During the Past Year Reemployment After Retirement Nonresident Aliens Thrift Savings Plan Rollover Rules Distributions Used To Pay Insurance Premiums for Public Safety Officers How To Report Benefits Part III Rules for Disability Retirement and Credit for the Elderly or the DisabledDisability Annuity Other Benefits Credit for the Elderly or the Disabled Part IV Rules for Survivors of Federal EmployeesFERS Death Benefit CSRS or FERS Survivor Annuity Lump-Sum CSRS or FERS Payment Thrift Savings Plan Federal Estate Tax Part V Rules for Survivors of Federal RetireesCSRS or FERS Survivor Annuity Lump-Sum CSRS or FERS Payment Voluntary Contributions Thrift Savings Plan Federal Estate Tax Income Tax Deduction for Estate Tax Paid How To Get Tax HelpLow Income Taxpayer Clinics Part I General Information This part of the publication contains information that can apply to most recipients of civil service retirement benefits. Self employed tax form Refund of Contributions If you leave federal government service or transfer to a job not under the CSRS or FERS and you are not eligible for an immediate annuity, you can choose to receive a refund of the money in your CSRS or FERS retirement account. Self employed tax form The refund will include both regular and voluntary contributions you made to the fund, plus any interest payable. Self employed tax form If the refund includes only your contributions, none of the refund is taxable. Self employed tax form If it includes any interest, the interest is taxable unless you roll it over directly into another qualified plan or a traditional individual retirement arrangement (IRA). Self employed tax form If you do not have the Office of Personnel Management (OPM) transfer the interest to an IRA or other plan in a direct rollover, tax will be withheld at a 20% rate. Self employed tax form See Rollover Rules in Part II for information on how to make a rollover. Self employed tax form Interest is not paid on contributions to the CSRS for service after 1956 unless your service was for more than 1 year but not more than 5 years. Self employed tax form Therefore, many employees who withdraw their contributions under the CSRS do not get interest and do not owe any tax on their refund. Self employed tax form If you do not roll over interest included in your refund, it may qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. Self employed tax form If you separate from service before the calendar year in which you reach age 55, it may be subject to an additional 10% tax on early distributions. Self employed tax form For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. Self employed tax form A lump-sum distribution is eligible for capital gain treatment or the 10-year tax option only if the plan participant was born before January 2, 1936. Self employed tax form Tax Withholding and Estimated Tax The CSRS or FERS annuity you receive is subject to federal income tax withholding, unless you choose not to have tax withheld. Self employed tax form OPM will tell you how to make the choice. Self employed tax form The choice for no withholding remains in effect until you change it. Self employed tax form These withholding rules also apply to a disability annuity, whether received before or after minimum retirement age. Self employed tax form If you choose not to have tax withheld, or if you do not have enough tax withheld, you may have to make estimated tax payments. Self employed tax form You may owe a penalty if the total of your withheld tax and estimated tax does not cover most of the tax shown on your return. Self employed tax form Generally, you will owe the penalty for 2014 if the additional tax you must pay with your return is $1,000 or more and more than 10% of the tax to be shown on your 2014 return. Self employed tax form For more information, including exceptions to the penalty, see chapter 4 of Publication 505, Tax Withholding and Estimated Tax. Self employed tax form Form CSA 1099R. Self employed tax form   Form CSA 1099R is mailed to you by OPM each year. Self employed tax form It will show any tax you had withheld. Self employed tax form File a copy of Form CSA 1099R with your tax return if any federal income tax was withheld. Self employed tax form    You also can view and download your Form CSA 1099R by visiting the OPM website at  www. Self employed tax form servicesonline. Self employed tax form opm. Self employed tax form gov. Self employed tax form To log in, you will need your retirement CSA claim number and your personal identification number. Self employed tax form Choosing no withholding on payments outside the United States. Self employed tax form   The choice for no withholding generally cannot be made for annuity payments to be delivered outside the United States and its possessions. Self employed tax form   To choose no withholding if you are a U. Self employed tax form S. Self employed tax form citizen or resident alien, you must provide OPM with your home address in the United States or its possessions. Self employed tax form Otherwise, OPM has to withhold tax. Self employed tax form For example, OPM must withhold if you provide a U. Self employed tax form S. Self employed tax form address for a nominee, trustee, or agent (such as a bank) to whom the benefits are to be delivered, but you do not provide your own U. Self employed tax form S. Self employed tax form home address. Self employed tax form   If you do not provide a home address in the United States or its possessions, you can choose not to have tax withheld only if you certify to OPM that you are not a U. Self employed tax form S. Self employed tax form citizen, a U. Self employed tax form S. Self employed tax form resident alien, or someone who left the United States to avoid tax. Self employed tax form But if you so certify, you may be subject to the 30% flat rate withholding that applies to nonresident aliens. Self employed tax form For details, see Publication 519, U. Self employed tax form S. Self employed tax form Tax Guide for Aliens. Self employed tax form Withholding certificate. Self employed tax form   If you give OPM a Form W-4P-A, Election of Federal Income Tax Withholding, you can choose not to have tax withheld or you can choose to have tax withheld. Self employed tax form The amount of tax withheld depends on your marital status, the number of withholding allowances, and any additional amount you designate to be withheld. Self employed tax form If you do not make either of these choices, OPM must withhold as if you were married with three withholding allowances. Self employed tax form To change the amount of tax withholding or to stop withholding, call OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. Self employed tax form C. Self employed tax form calling area must call 202-606-0500). Self employed tax form No special form is needed. Self employed tax form You will need your retirement CSA or CSF claim number, your social security number, and your personal identification number (PIN) when you call. Self employed tax form If you have TTY/TDD equipment, call 1-855–887–4957. Self employed tax form If you need a PIN, call OPM's Retirement Information Office. Self employed tax form You also can change the amount of withholding or stop withholding online by visiting the OPM website at www. Self employed tax form servicesonline. Self employed tax form opm. Self employed tax form gov. Self employed tax form You will need your retirement CSA or CSF claim number and your PIN. Self employed tax form Withholding from certain lump-sum payments. Self employed tax form   If you leave the federal government before becoming eligible to retire and you apply for a refund of your CSRS or FERS contributions, or you die without leaving a survivor eligible for an annuity, you or your beneficiary will receive a distribution of your contributions to the retirement plan plus any interest payable. Self employed tax form Tax will be withheld at a 20% rate on the interest distributed. Self employed tax form However, tax will not be withheld if you have OPM transfer (roll over) the interest directly to your traditional IRA or other qualified plan. Self employed tax form If you have OPM transfer (roll over) the interest directly to a Roth IRA, the entire amount will be taxed in the current year. Self employed tax form Because no income tax will be withheld at the time of the transfer, you may want to increase your withholding or pay estimated taxes. Self employed tax form See Rollover Rules in Part II. Self employed tax form If you receive only your contributions, no tax will be withheld. Self employed tax form Withholding from Thrift Savings Plan payments. Self employed tax form   Generally, a distribution that you receive from the TSP is subject to federal income tax withholding. Self employed tax form The amount withheld is: 20% if the distribution is an eligible rollover distribution, 10% if it is a nonperiodic distribution other than an eligible rollover distribution, or An amount determined as if you were married with three withholding allowances, unless you submit a withholding certificate (Form W-4P), if it is a periodic distribution. Self employed tax form  However, you usually can choose not to have tax withheld from TSP payments other than eligible rollover distributions. Self employed tax form By January 31 after the end of the year in which you receive a distribution, the TSP will issue Form 1099-R showing the total distributions you received in the prior year and the amount of tax withheld. Self employed tax form   For a detailed discussion of withholding on distributions from the TSP, see Important Tax Information About Payments From Your TSP Account, available from your agency personnel office or from the TSP. Self employed tax form The above document is also available in the “Forms & Publications” section of the TSP website at www. Self employed tax form tsp. Self employed tax form gov. Self employed tax form Estimated tax. Self employed tax form   Generally, you must make estimated tax payments for 2014 if you expect to owe at least $1,000 in tax for 2014 (after subtracting your withholding and credits) and you expect your withholding and your credits to be less than the smaller of: 90% of the tax to be shown on your income tax return for 2014, or 100% of the tax shown on your 2013 income tax return (110% of that amount if the adjusted gross income shown on the return was more than $150,000 ($75,000 if your filing status for 2014 will be married filing separately)). Self employed tax form The return must cover all 12 months. Self employed tax form   You do not have to pay estimated tax for 2014 if you were a U. Self employed tax form S. Self employed tax form citizen or resident alien for all of 2013 and you had no tax liability for the full 12-month 2013 tax year. Self employed tax form   Publication 505 contains information that you can use to help you figure your estimated tax payments. Self employed tax form Filing Requirements If your gross income, including the taxable part of your annuity, is less than a certain amount, you generally do not have to file a federal income tax return for that year. Self employed tax form The gross income filing requirements for the tax year are in the instructions to Form 1040, 1040A, or 1040EZ. Self employed tax form Children. Self employed tax form   If you are the surviving spouse of a federal employee or retiree and your monthly annuity check includes a survivor annuity for one or more children, each child's annuity counts as his or her own income (not yours) for federal income tax purposes. Self employed tax form   If your child can be claimed as a dependent, treat the taxable part of his or her annuity as unearned income when applying the filing requirements for dependents. Self employed tax form Form CSF 1099R. Self employed tax form   Form CSF 1099R will be mailed to you by January 31 after the end of each tax year. Self employed tax form It will show the total amount of the annuity you received in the past year. Self employed tax form It also should show, separately, the survivor annuity for a child or children. Self employed tax form Only the part that is each individual's survivor annuity should be shown on that individual's Form 1040 or 1040A. Self employed tax form   If your Form CSF 1099R does not show separately the amount paid to you for a child or children, attach a statement to your return, along with a copy of Form CSF 1099R, explaining why the amount shown on the tax return differs from the amount shown on Form CSF 1099R. Self employed tax form    You also can view and download your Form CSF 1099R by visiting the OPM website at  www. Self employed tax form servicesonline. Self employed tax form opm. Self employed tax form gov. Self employed tax form To log in you will need your retirement CSF claim number and personal identification number. Self employed tax form    You may request a Summary of Payments, showing the amounts paid to you for your child(ren), from OPM by calling OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. Self employed tax form C. Self employed tax form calling area must call 202-606-0500). Self employed tax form You will need your CSF claim number and your social security number when you call. Self employed tax form Taxable part of annuity. Self employed tax form   To find the taxable part of a retiree's annuity when applying the filing requirements, see the discussion in Part II, Rules for Retirees , or Part III, Rules for Disability Retirement and Credit for the Elderly or the Disabled , whichever applies. Self employed tax form To find the taxable part of each survivor annuity when applying the filing requirements, see the discussion in Part IV, Rules for Survivors of Federal Employees , or Part V, Rules for Survivors of Federal Retirees , whichever applies. Self employed tax form Part II Rules for Retirees This part of the publication is for retirees who retired on nondisability retirement. Self employed tax form If you retired on disability before you reached your minimum retirement age, see Part III, Rules for Disability Retirement and Credit for the Elderly or the Disabled. Self employed tax form However, on the day after you reach your minimum retirement age, use the rules in this section to report your disability retirement and begin recovering your cost. Self employed tax form Annuity statement. Self employed tax form   The statement you received from OPM when your CSRS or FERS annuity was approved shows the commencing date (the annuity starting date), the gross monthly rate of your annuity benefit, and your total contributions to the retirement plan (your cost). Self employed tax form You will use this information to figure the tax-free recovery of your cost. Self employed tax form Annuity starting date. Self employed tax form   If you retire from federal government service on a regular annuity, your annuity starting date is the commencing date on your annuity statement from OPM. Self employed tax form If something delays payment of your annuity, such as a late application for retirement, it does not affect the date your annuity begins to accrue or your annuity starting date. Self employed tax form Gross monthly rate. Self employed tax form   This is the amount you were to get after any adjustment for electing a survivor's annuity or for electing the lump-sum payment under the alternative annuity option (if either applied) but before any deduction for income tax withholding, insurance premiums, etc. Self employed tax form Your cost. Self employed tax form   Your monthly annuity payment contains an amount on which you have previously paid income tax. Self employed tax form This amount represents part of your contributions to the retirement plan. Self employed tax form Even though you did not receive the money that was contributed to the plan, it was included in your gross income for federal income tax purposes in the years it was taken out of your pay. Self employed tax form   The cost of your annuity is the total of your contributions to the retirement plan, as shown on your annuity statement from OPM. Self employed tax form If you elected the alternative annuity option, it includes any deemed deposits and any deemed redeposits that were added to your lump-sum credit. Self employed tax form (See Lump-sum credit under Alternative Annuity Option, later. Self employed tax form )   If you repaid contributions that you had withdrawn from the retirement plan earlier, or if you paid into the plan to receive full credit for service not subject to retirement deductions, the entire repayment, including any interest, is a part of your cost. Self employed tax form You cannot claim an interest deduction for any interest payments. Self employed tax form You cannot treat these payments as voluntary contributions; they are considered regular employee contributions. Self employed tax form Recovering your cost tax free. Self employed tax form   How you figure the tax-free recovery of the cost of your CSRS or FERS annuity depends on your annuity starting date. Self employed tax form If your annuity starting date is before July 2, 1986, either the Three-Year Rule or the General Rule (both discussed later) applies to your annuity. Self employed tax form If your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method (discussed later). Self employed tax form If your annuity starting date is after November 18, 1996, you must use the Simplified Method. Self employed tax form   Under both the General Rule and the Simplified Method, each of your monthly annuity payments is made up of two parts: the tax-free part that is a return of your cost, and the taxable part that is the amount of each payment that is more than the part that represents your cost (unless such payment is used for purposes discussed under Distributions Used To Pay Insurance Premiums for Public Safety Officers , later). Self employed tax form The tax-free part is a fixed dollar amount. Self employed tax form It remains the same, even if your annuity is increased. Self employed tax form Generally, this rule applies as long as you receive your annuity. Self employed tax form However, see Exclusion limit , later. Self employed tax form Choosing a survivor annuity after retirement. Self employed tax form    If you retired without a survivor annuity and report your annuity under the Simplified Method, do not change your tax-free monthly amount even if you later choose a survivor annuity. Self employed tax form   If you retired without a survivor annuity and report your annuity under the General Rule, you must figure the tax-free part of your annuity using a new exclusion percentage if you later choose a survivor annuity and take reduced annuity payments. Self employed tax form To figure the new exclusion percentage, reduce your cost by the amount you previously recovered tax free. Self employed tax form Figure the expected return as of the date the reduced annuity begins. Self employed tax form For details on the General Rule, see Publication 939. Self employed tax form Canceling a survivor annuity after retirement. Self employed tax form   If you retired with a survivor annuity payable to your spouse upon your death and you notify OPM that your marriage has ended, your annuity might be increased to remove the reduction for a survivor benefit. Self employed tax form The increased annuity does not change the cost recovery you figured at the annuity starting date. Self employed tax form The tax-free part of each annuity payment remains the same. Self employed tax form    For more information about choosing or canceling a survivor annuity after retirement, contact OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. Self employed tax form C. Self employed tax form calling area must call 202-606-0500). Self employed tax form Exclusion limit. Self employed tax form   Your annuity starting date determines the total amount of annuity payments that you can exclude from income over the years. Self employed tax form Annuity starting date after 1986. Self employed tax form   If your annuity starting date is after 1986, the total amount of annuity income that you (or the survivor annuitant) can exclude over the years as a return of your cost cannot exceed your total cost. Self employed tax form Annuity payments you or your survivors receive after the total cost in the plan has been recovered are generally fully taxable. Self employed tax form Example. Self employed tax form Your annuity starting date is after 1986 and you exclude $100 a month under the Simplified Method. Self employed tax form If your cost is $12,000, the exclusion ends after 10 years (120 months). Self employed tax form Thereafter, your entire annuity is generally fully taxable. Self employed tax form Annuity starting date before 1987. Self employed tax form   If your annuity starting date is before 1987, you can continue to take your monthly exclusion figured under the General Rule or Simplified Method for as long as you receive your annuity. Self employed tax form If you chose a joint and survivor annuity, your survivor can continue to take that same exclusion. Self employed tax form The total exclusion may be more than your cost. Self employed tax form Deduction of unrecovered cost. Self employed tax form   If your annuity starting date is after July 1, 1986, and the cost of your annuity has not been fully recovered at your (or the survivor annuitant's) death, a deduction is allowed for the unrecovered cost. Self employed tax form The deduction is claimed on your (or your survivor's) final tax return as a miscellaneous itemized deduction (not subject to the 2%-of-adjusted-gross-income limit). Self employed tax form If your annuity starting date is before July 2, 1986, no tax benefit is allowed for any unrecovered cost at death. Self employed tax form Simplified Method If your annuity starting date is after November 18, 1996, you must use the Simplified Method to figure the tax-free part of your CSRS or FERS annuity. Self employed tax form (OPM has figured the taxable amount of your annuity shown on your Form CSA 1099R using the Simplified Method. Self employed tax form ) You could have chosen to use either the Simplified Method or the General Rule if your annuity starting date is after July 1, 1986, but before November 19, 1996. Self employed tax form The Simplified Method does not apply if your annuity starting date is before July 2, 1986. Self employed tax form Under the Simplified Method, you figure the tax-free part of each full monthly payment by dividing your cost by a number of months based on your age. Self employed tax form This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. Self employed tax form If your annuity starting date is after 1997 and your annuity includes a survivor benefit for your spouse, this number is based on your combined ages. Self employed tax form Worksheet A. Self employed tax form   Use Worksheet A. Self employed tax form Simplified Method (near the end of this publication), to figure your taxable annuity. Self employed tax form Be sure to keep the completed worksheet. Self employed tax form It will help you figure your taxable amounts for later years. Self employed tax form Instead of Worksheet A, you generally can use the Simplified Method Worksheet in the instructions for Form 1040, Form 1040A, or Form 1040NR to figure your taxable annuity. Self employed tax form However, you must use Worksheet A and Worksheet B in this publication if you chose the alternative annuity option, discussed later. Self employed tax form Line 2. Self employed tax form   See Your cost , earlier, for an explanation of your cost in the plan. Self employed tax form If your annuity starting date is after November 18, 1996, and you chose the alternative annuity option (explained later), you must reduce your cost by the tax-free part of the lump-sum payment you received. Self employed tax form Line 3. Self employed tax form   The number you enter on line 3 is the appropriate number from Table 1 or 2 representing approximate life expectancies in months. Self employed tax form If your annuity starting date is after 1997, use: Table 1 for an annuity without a survivor benefit, or Table 2 for an annuity with a survivor benefit. Self employed tax form If your annuity starting date is before 1998, use Table 1. Self employed tax form Line 6. Self employed tax form   If you received contributions tax free before 2013, the amount previously recovered tax free that you must enter on line 6 is the total amount from line 10 of last year's worksheet. Self employed tax form If your annuity starting date is before November 19, 1996, and you chose the alternative annuity option, this amount includes the tax-free part of the lump-sum payment you received. Self employed tax form Example. Self employed tax form Bill Smith retired from the Federal Government on March 31, 2013, under an annuity that will provide a survivor benefit for his wife, Kathy. Self employed tax form His annuity starting date is April 1, 2013, the annuity is paid in arrears, and he received his first monthly annuity payment on May 1, 2013. Self employed tax form He must use the Simplified Method to figure the tax-free part of his annuity benefits. Self employed tax form Bill's monthly annuity benefit is $1,000. Self employed tax form He had contributed $31,000 to his retirement plan and had received no distributions before his annuity starting date. Self employed tax form At his annuity starting date, he was 65 and Kathy was 57. Self employed tax form Bill's completed Worksheet A is shown later. Self employed tax form To complete line 3, he used Table 2 at the bottom of the worksheet and found that 310 is the number in the second column opposite the age range that includes 122 (his and Kathy's combined ages). Self employed tax form Bill keeps a copy of the completed worksheet for his records. Self employed tax form It will help him (and Kathy, if she survives him) figure the taxable amount of the annuity in later years. Self employed tax form Bill's tax-free monthly amount is $100. Self employed tax form (See line 4 of the worksheet. Self employed tax form ) If he lives to collect more than 310 monthly payments, he will generally have to include in his gross income the full amount of any annuity payments received after 310 payments have been made. Self employed tax form If Bill does not live to collect 310 monthly payments and his wife begins to receive monthly payments, she also will exclude $100 from each monthly payment until 310 payments (Bill's and hers) have been collected. Self employed tax form If she dies before 310 payments have been made, a miscellaneous itemized deduction (not subject to the 2%-of-adjusted- gross-income limit) will be allowed for the unrecovered cost on her final income tax return. Self employed tax form General Rule If your annuity starting date is after November 18, 1996, you cannot use the General Rule to figure the tax-free part of your CSRS or FERS annuity. Self employed tax form If your annuity starting date is after July 1, 1986, but before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method. Self employed tax form If your annuity starting date is before July 2, 1986, you could have chosen to use the General Rule only if you could not use the Three-Year Rule. Self employed tax form Under the General Rule, you figure the tax-free part of each full monthly payment by multiplying the initial gross monthly rate of your annuity by an exclusion percentage. Self employed tax form Figuring this percentage is complex and requires the use of actuarial tables. Self employed tax form For these tables and other information about using the General Rule, see Publication 939. Self employed tax form Three-Year Rule If your annuity starting date was before July 2, 1986, you probably had to report your annuity using the Three-Year Rule. Self employed tax form Under this rule, you excluded all the annuity payments from income until you fully recovered your cost. Self employed tax form After your cost was recovered, all payments became fully taxable. Self employed tax form You cannot use another rule to again exclude amounts from income. Self employed tax form The Three-Year Rule was repealed for retirees whose annuity starting date is after July 1, 1986. Self employed tax form Worksheet A. Self employed tax form Simplified Method for Bill Smith See the instructions in Part II of this publication under Simplified Method. Self employed tax form 1. Self employed tax form Enter the total pension or annuity payments received this year. Self employed tax form Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. Self employed tax form $ 8,000 2. Self employed tax form Enter your cost in the plan at the annuity starting date, plus any death benefit exclusion*. Self employed tax form See Your cost in Part II, Rules for Retirees, earlier 2. Self employed tax form 31,000 Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). Self employed tax form Otherwise, go to line 3. Self employed tax form   3. Self employed tax form Enter the appropriate number from Table 1 below. Self employed tax form But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below. Self employed tax form 3. Self employed tax form 310 4. Self employed tax form Divide line 2 by the number on line 3 4. Self employed tax form 100 5. Self employed tax form Multiply line 4 by the number of months for which this year's payments were made. Self employed tax form If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. Self employed tax form Otherwise, go to line 6 5. Self employed tax form 800 6. Self employed tax form Enter any amounts previously recovered tax free in years after 1986. Self employed tax form This is the amount shown on line 10 of your worksheet for last year 6. Self employed tax form 0 7. Self employed tax form Subtract line 6 from line 2 7. Self employed tax form 31,000 8. Self employed tax form Enter the smaller of line 5 or line 7 8. Self employed tax form 800 9. Self employed tax form Taxable amount for year. Self employed tax form Subtract line 8 from line 1. Self employed tax form Enter the result, but not less than zero. Self employed tax form Also, add this amount to the total for Form 1040, line 16b, or Form 1040A, line 12b. Self employed tax form If you are a nonresident alien, also enter this amount on line 1 of Worksheet C. Self employed tax form If your Form CSA 1099R or Form CSF 1099R shows a larger amount, use the amount figured on this line instead. Self employed tax form If you are a retired public safety officer, see Distributions Used To Pay Insurance Premiums for Public Safety Officers in Part II before entering an amount on your tax return or Worksheet C, line 1 9. Self employed tax form $7,200 10. Self employed tax form Was your annuity starting date before 1987?   Yes. Self employed tax form Do not complete the rest of this worksheet. Self employed tax form    No. Self employed tax form Add lines 6 and 8. Self employed tax form This is the amount you have recovered tax free through 2013. Self employed tax form You will need this number if you need to fill out this worksheet next year 10. Self employed tax form 800 11. Self employed tax form Balance of cost to be recovered. Self employed tax form Subtract line 10 from line 2. Self employed tax form If zero, you will not have to complete this worksheet next year. Self employed tax form The payments you receive next year will generally be fully taxable 11. Self employed tax form $30,200 Table 1 for Line 3 Above    IF your age on your  annuity starting date was   AND your annuity starting date was—     before November 19, 1996,  THEN enter on line 3 after November 18, 1996,  THEN enter on line 3   55 or under 300 360   56–60 260 310   61–65 240 260   66–70 170 210   71 or over 120 160  Table 2 for Line 3 Above    IF the annuitants' combined ages on your annuity starting date were   THEN enter on line 3         110 or under   410         111–120   360         121–130   310         131–140   260         141 or over   210       * A death benefit exclusion of up to $5,000 applied to certain benefits received by survivors of employees who died before August 21, 1996. Self employed tax form Alternative Annuity Option If you are eligible, you may choose an alternative form of annuity. Self employed tax form If you make this choice, you will receive a lump-sum payment equal to your contributions to the plan and a reduced monthly annuity. Self employed tax form You are eligible to make this choice if you meet all of the following requirements. Self employed tax form You are retiring, but not on disability. Self employed tax form You have a life-threatening illness or other critical medical condition. Self employed tax form You do not have a former spouse entitled to court ordered benefits based on your service. Self employed tax form If you are not eligible or do not choose this alternative annuity, you can skip the following discussion and go to Federal Gift Tax , later. Self employed tax form Lump-Sum Payment The lump-sum payment you receive under the alternative annuity option generally has a tax-free part and a taxable part. Self employed tax form The tax-free part represents part of your cost. Self employed tax form The taxable part represents part of the earnings on your annuity contract. Self employed tax form Your lump-sum credit (discussed later) may include a deemed deposit or redeposit that is treated as being included in your lump-sum payment even though you do not actually receive such amounts. Self employed tax form Deemed deposits and redeposits, which are described later under Lump-sum credit , are taxable to you in the year of retirement. Self employed tax form Your taxable amount may therefore be more than the lump-sum payment you receive. Self employed tax form You must include the taxable part of the lump-sum payment in your income for the year you receive the payment unless you roll it over into another qualified plan or an IRA. Self employed tax form If you do not have OPM transfer the taxable amount to an IRA or other plan in a direct rollover, tax will be withheld at a 20% rate. Self employed tax form See Rollover Rules , later, for information on how to make a rollover. Self employed tax form OPM can make a direct rollover only up to the amount of the lump-sum payment. Self employed tax form Therefore, to defer tax on the full taxable amount if it is more than the payment, you must add funds from another source. Self employed tax form The taxable part of the lump-sum payment does not qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. Self employed tax form It also may be subject to an additional 10% tax on early distributions if you separate from service before the calendar year in which you reach age 55, even if you reach age 55 in the year you receive the lump-sum payment. Self employed tax form For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. Self employed tax form Worksheet B. Self employed tax form   Use Worksheet B. Self employed tax form Lump-Sum Payment (near the end of this publication), to figure the taxable part of your lump-sum payment. Self employed tax form Be sure to keep the completed worksheet for your records. Self employed tax form   To complete the worksheet, you will need to know the amount of your lump-sum credit and the present value of your annuity contract. Self employed tax form Lump-sum credit. Self employed tax form   Generally, this is the same amount as the lump-sum payment you receive (the total of your contributions to the retirement system). Self employed tax form However, for purposes of the alternative annuity option, your lump-sum credit also may include deemed deposits and redeposits that OPM advanced to your retirement account so that you are given credit for the service they represent. Self employed tax form Deemed deposits (including interest) are for federal employment during which no retirement contributions were taken out of your pay. Self employed tax form Deemed redeposits (including interest) are for any refunds of retirement contributions that you received and did not repay. Self employed tax form You are treated as if you had received a lump-sum payment equal to the amount of your lump-sum credit and then had made a repayment to OPM of the advanced amounts. Self employed tax form Present value of your annuity contract. Self employed tax form   The present value of your annuity contract is figured using actuarial tables provided by the IRS. Self employed tax form If you are receiving a lump-sum payment under the Alternative Annuity Option, you can write to the address below to find out the present value of your annuity contract. Self employed tax form Internal Revenue Service Attn: Actuarial Group 2 TE/GE SE:T:EP:RA:T:A2 NCA-629 1111 Constitution Ave. Self employed tax form , NW Washington, DC 20224-0002 Example. Self employed tax form David Brown retired from the federal government in 2013, one month after his 55th birthday. Self employed tax form He had contributed $31,000 to his retirement plan and chose to receive a lump-sum payment of that amount under the alternative annuity option. Self employed tax form The present value of his annuity contract was $155,000. Self employed tax form The tax-free part and the taxable part of the lump-sum payment are figured using Worksheet B, as shown below. Self employed tax form The taxable part ($24,800) is also his net cost in the plan, which is used to figure the taxable part of his reduced annuity payments. Self employed tax form See Reduced Annuity , later. Self employed tax form Worksheet B. Self employed tax form Lump-Sum Payment for David Brown See the instructions in Part II of this publication under Alternative Annuity Option . Self employed tax form  1. Self employed tax form Enter your lump-sum credit (your cost in the plan at the annuity starting date) 1. Self employed tax form $ 31,000 2. Self employed tax form Enter the present value of your annuity contract 2. Self employed tax form 155,000 3. Self employed tax form Divide line 1 by line 2 3. Self employed tax form . Self employed tax form 20 4. Self employed tax form Tax-free amount. Self employed tax form Multiply line 1 by line 3. Self employed tax form (Caution: Do not include this amount on line 6 of Worksheet A in this publication. Self employed tax form ) 4. Self employed tax form $6,200 5. Self employed tax form Taxable amount (net cost in the plan). Self employed tax form Subtract line 4 from line 1. Self employed tax form Include this amount in the total on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. Self employed tax form Also, enter this amount on line 2 of Worksheet A in this publication. Self employed tax form 5. Self employed tax form $24,800   Lump-sum payment in installments. Self employed tax form   If you choose the alternative annuity option, you usually will receive the lump-sum payment in two equal installments. Self employed tax form You will receive the first installment after you make the choice upon retirement. Self employed tax form The second installment will be paid to you, with interest, in the next calendar year. Self employed tax form (Exceptions to the installment rule are provided for cases of critical medical need. Self employed tax form )   Even though the lump-sum payment is made in installments, the overall tax treatment (explained at the beginning of this discussion) is the same as if the whole payment were paid at once. Self employed tax form If the payment has a tax-free part, you must treat the taxable part as received first. Self employed tax form How to report. Self employed tax form   Add any actual or deemed payment of your lump-sum credit (defined earlier) to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. Self employed tax form Add the taxable part to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b, unless you roll over the taxable part to your traditional IRA or a qualified retirement plan. Self employed tax form    If you receive the lump-sum payment in two installments, include any interest paid with the second installment on line 8a of either Form 1040 or Form 1040A, or on line 9a of Form 1040NR. Self employed tax form Reduced Annuity If you have chosen to receive a lump-sum payment under the alternative annuity option, you also will receive reduced monthly annuity payments. Self employed tax form These annuity payments each will have a tax-free and a taxable part. Self employed tax form To figure the tax-free part of each annuity payment, you must use the Simplified Method (Worksheet A). Self employed tax form For instructions on how to complete the worksheet, see Worksheet A under Simplified Method, earlier. Self employed tax form To complete Worksheet A, line 2, you must reduce your cost in the plan by the tax-free part of the lump-sum payment you received. Self employed tax form Enter as your net cost on line 2 the amount from Worksheet B, line 5. Self employed tax form Do not include the tax-free part of the lump-sum payment with other amounts recovered tax free (Worksheet A, line 6) when limiting your total exclusion to your total cost. Self employed tax form Example. Self employed tax form The facts are the same as in the example for David Brown in the preceding discussion. Self employed tax form In addition, David received 10 annuity payments in 2013 of $1,200 each. Self employed tax form Using Worksheet A, he figures the taxable part of his annuity payments. Self employed tax form He completes line 2 by reducing his $31,000 cost by the $6,200 tax-free part of his lump-sum payment. Self employed tax form His entry on line 2 is his $24,800 net cost in the plan (the amount from Worksheet B, line 5). Self employed tax form He does not include the tax-free part of his lump-sum payment on Worksheet A, line 6. Self employed tax form David's filled-in Worksheet A is shown on the next page. Self employed tax form Worksheet A. Self employed tax form Simplified Method for David Brown See the instructions in Part II of this publication under Simplified Method . Self employed tax form 1. Self employed tax form Enter the total pension or annuity payments received this year. Self employed tax form Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. Self employed tax form $ 12,000 2. Self employed tax form Enter your cost in the plan at the annuity starting date, plus any death benefit exclusion*. Self employed tax form See Your cost in Part II, Rules for Retirees, earlier 2. Self employed tax form 24,800 Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). Self employed tax form Otherwise, go to line 3. Self employed tax form   3. Self employed tax form Enter the appropriate number from Table 1 below. Self employed tax form But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below. Self employed tax form 3. Self employed tax form 360 4. Self employed tax form Divide line 2 by the number on line 3 4. Self employed tax form 68. Self employed tax form 89 5. Self employed tax form Multiply line 4 by the number of months for which this year's payments were made. Self employed tax form If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. Self employed tax form Otherwise, go to line 6 5. Self employed tax form 688. Self employed tax form 90 6. Self employed tax form Enter any amounts previously recovered tax free in years after 1986. Self employed tax form This is the amount shown on line 10 of your worksheet for last year 6. Self employed tax form 0 7. Self employed tax form Subtract line 6 from line 2 7. Self employed tax form 24,800 8. Self employed tax form Enter the smaller of line 5 or line 7 8. Self employed tax form 688. Self employed tax form 90 9. Self employed tax form Taxable amount for year. Self employed tax form Subtract line 8 from line 1. Self employed tax form Enter the result, but not less than zero. Self employed tax form Also, add this amount to the total for Form 1040, line 16b, or Form 1040A, line 12b. Self employed tax form If you are a nonresident alien, also enter this amount on line 1 of Worksheet C. Self employed tax form If your Form CSA 1099R or Form CSF 1099R shows a larger amount, use the amount figured on this line instead. Self employed tax form If you are a retired public safety officer, see Distributions Used To Pay Insurance Premiums for Public Safety Officers in Part II before entering an amount on your tax return or Worksheet C, line 1 9. Self employed tax form $11,311. Self employed tax form 10 10. Self employed tax form Was your annuity starting date before 1987?   Yes. Self employed tax form Do not complete the rest of this worksheet. Self employed tax form    No. Self employed tax form Add lines 6 and 8. Self employed tax form This is the amount you have recovered tax free through 2013. Self employed tax form You will need this number if you need to fill out this worksheet next year 10. Self employed tax form 688. Self employed tax form 90 11. Self employed tax form Balance of cost to be recovered. Self employed tax form Subtract line 10 from line 2. Self employed tax form If zero, you will not have to complete this worksheet next year. Self employed tax form The payments you receive next year will generally be fully taxable 11. Self employed tax form $24,111. Self employed tax form 10 Table 1 for Line 3 Above    IF your age on your annuity starting date was   AND your annuity starting date was—     before November 19, 1996,  THEN enter on line 3 after November 18, 1996,  THEN enter on line 3   55 or under 300 360   56–60 260 310   61–65 240 260   66–70 170 210   71 or over 120 160  Table 2 for Line 3 Above    IF the annuitants' combined ages on your annuity starting date were   THEN enter on line 3         110 or under   410         111–120   360         121–130   310         131–140   260         141 or over   210       * A death benefit exclusion of up to $5,000 applied to certain benefits received by survivors of employees who died before August 21, 1996. Self employed tax form Reemployment after choosing the alternative annuity option. Self employed tax form If you chose this option when you retired and then you were reemployed by the Federal Government before retiring again, your Form CSA 1099R may show only the amount of your contributions to your retirement plan during your reemployment. Self employed tax form If the amount on the form does not include all your contributions, disregard it and use your total contributions to figure the taxable part of your annuity payments. Self employed tax form Annuity starting date before November 19, 1996. Self employed tax form   If your annuity starting date is before November 19, 1996, and you chose the alternative annuity option, the taxable and tax-free parts of your lump-sum payment and your annuity payments are figured using different rules. Self employed tax form Under those rules, you do not reduce your cost in the plan (Worksheet A, line 2) by the tax-free part of the lump-sum payment. Self employed tax form However, you must include that tax-free amount with other amounts previously recovered tax free (Worksheet A, line 6) when limiting your total exclusion to your total cost. Self employed tax form Federal Gift Tax If, through the exercise or nonexercise of an election or option, you provide an annuity for your beneficiary at or after your death, you have made a gift. Self employed tax form The gift may be taxable for gift tax purposes. Self employed tax form The value of the gift is equal to the value of the annuity. Self employed tax form Joint and survivor annuity. Self employed tax form   If the gift is an interest in a joint and survivor annuity where only you and your spouse can receive payments before the death of the last spouse to die, the gift generally will qualify for the unlimited marital deduction. Self employed tax form This will eliminate any gift tax liability with regard to that gift. Self employed tax form   If you provide survivor annuity benefits for someone other than your current spouse, such as your former spouse, the unlimited marital deduction will not apply. Self employed tax form This may result in a taxable gift. Self employed tax form More information. Self employed tax form   For information about the gift tax, see Publication 950, Introduction to Estate and Gift Taxes, and Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, and its instructions. Self employed tax form Retirement During the Past Year If you have recently retired, the following discussions covering annual leave, voluntary contributions, and community property may apply to you. Self employed tax form Annual leave. Self employed tax form   A payment for accrued annual leave received on retirement is a salary payment. Self employed tax form It is taxable as wages in the tax year you receive it. Self employed tax form Voluntary contributions. Self employed tax form   Voluntary contributions to the retirement fund are those made in addition to the regular contributions that were deducted from your salary. Self employed tax form They also include the regular contributions withheld from your salary after you have the years of service necessary for the maximum annuity allowed by law. Self employed tax form Voluntary contributions are not the same as employee contributions to the Thrift Savings Plan. Self employed tax form See Thrift Savings Plan , later. Self employed tax form Additional annuity benefit. Self employed tax form   If you choose to receive an additional annuity benefit from your voluntary contributions, it is treated separately from the annuity benefit that comes from the regular contributions deducted from your salary. Self employed tax form This separate treatment applies for figuring the amounts to be excluded from, and included in, gross income. Self employed tax form It does not matter that you receive only one monthly check covering both benefits. Self employed tax form Each year you will receive a Form CSA 1099R that will show how much of your total annuity received in the past year was from each type of benefit. Self employed tax form   Figure the taxable and tax-free parts of your additional monthly benefits from voluntary contributions using the rules that apply to regular CSRS and FERS annuities, as explained earlier. Self employed tax form Refund of voluntary contributions. Self employed tax form   If you choose to receive a refund of your voluntary contributions plus accrued interest, the interest is taxable to you in the tax year it is distributed unless you roll it over to a traditional IRA or another qualified retirement plan. Self employed tax form If you do not have OPM transfer the interest to a traditional IRA or other qualified retirement plan in a direct rollover, tax will be withheld at a 20% rate. Self employed tax form See Rollover Rules , later. Self employed tax form The interest does not qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. Self employed tax form It also may be subject to an additional 10% tax on early distributions if you separate from service before the calendar year in which you reach age 55. Self employed tax form For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. Self employed tax form Community property laws. Self employed tax form   State community property laws apply to your annuity. Self employed tax form These laws will affect your income tax only if you file a return separately from your spouse. Self employed tax form   Generally, the determination of whether your annuity is separate income (taxable to you) or community income (taxable to both you and your spouse) is based on your marital status and domicile when you were working. Self employed tax form Regardless of whether you are now living in a community property state or a noncommunity property state, your current annuity may be community income if it is based on services you performed while married and domiciled in a community property state. Self employed tax form   At any time, you have only one domicile even though you may have more than one home. Self employed tax form Your domicile is your fixed and permanent legal home that you intend to use for an indefinite or unlimited period, and to which, when absent, you intend to return. Self employed tax form The question of your domicile is mainly a matter of your intentions as indicated by your actions. Self employed tax form   If your annuity is a mixture of community income and separate income, you must divide it between the two kinds of income. Self employed tax form The division is based on your periods of service and domicile in community and noncommunity property states while you were married. Self employed tax form   For more information, see Publication 555, Community Property. Self employed tax form Reemployment After Retirement If you retired from federal service and are later rehired by the Federal Government as an employee, you can continue to receive your annuity during reemployment. Self employed tax form The employing agency usually will pay you the difference between your salary for your period of reemployment and your annuity. Self employed tax form This amount is taxable as wages. Self employed tax form Your annuity will continue to be taxed just as it was before. Self employed tax form If you are still recovering your cost, you continue to do so. Self employed tax form If you have recovered your cost, the annuity you receive while you are reemployed generally is fully taxable. Self employed tax form Nonresident Aliens The following special rules apply to nonresident alien federal employees performing services outside the United States and to nonresident alien retirees and beneficiaries. Self employed tax form A nonresident alien is an individual who is not a citizen or a resident alien of the United States. Self employed tax form Special rule for figuring your total contributions. Self employed tax form   Your contributions to the retirement plan (your cost) also include the government's contributions to the plan to a certain extent. Self employed tax form You include government contributions that would not have been taxable to you at the time they were contributed if they had been paid directly to you. Self employed tax form For example, government contributions would not have been taxable to you if, at the time made, your services were performed outside the United States. Self employed tax form Thus, your cost is increased by these government contributions and the benefits that you, or your beneficiary, must include in income are reduced. Self employed tax form   This method of figuring your total contributions does not apply to any contributions the government made on your behalf after you became a citizen or a resident alien of the United States. Self employed tax form Limit on taxable amount. Self employed tax form   There is a limit on the taxable amount of payments received from the CSRS, the FERS, or the TSP by a nonresident alien retiree or nonresident alien beneficiary. Self employed tax form Figure this limited taxable amount by multiplying the otherwise taxable amount by a fraction. Self employed tax form The numerator of the fraction is the retiree's total U. Self employed tax form S. Self employed tax form Government basic pay, other than tax-exempt pay for services performed outside the United States. Self employed tax form The denominator is the retiree's total U. Self employed tax form S. Self employed tax form Government basic pay for all services. Self employed tax form    Basic pay includes regular pay plus any standby differential. Self employed tax form It does not include bonuses, overtime pay, certain retroactive pay, uniform or other allowances, or lump-sum leave payments. Self employed tax form   To figure the limited taxable amount of your CSRS or FERS annuity or your TSP distributions, use Worksheet C. Self employed tax form (For an annuity, first complete Worksheet A in this publication. Self employed tax form ) Worksheet C. Self employed tax form Limited Taxable Amount for Nonresident Alien 1. Self employed tax form Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. Self employed tax form   2. Self employed tax form Enter the total U. Self employed tax form S. Self employed tax form Government basic pay other than tax-exempt pay for services performed outside the United States 2. Self employed tax form   3. Self employed tax form Enter the total U. Self employed tax form S. Self employed tax form Government basic pay for all services 3. Self employed tax form   4. Self employed tax form Divide line 2 by line 3 4. Self employed tax form   5. Self employed tax form Limited taxable amount. Self employed tax form Multiply line 1 by line 4. Self employed tax form Enter this amount on Form 1040NR, line 17b 5. Self employed tax form   Example 1. Self employed tax form You are a nonresident alien who performed all services for the U. Self employed tax form S. Self employed tax form Government abroad as a nonresident alien. Self employed tax form You retired and began to receive a monthly annuity of $200. Self employed tax form Your total basic pay for all services for the U. Self employed tax form S. Self employed tax form Government was $100,000. Self employed tax form All of your basic pay was tax exempt because it was not U. Self employed tax form S. Self employed tax form source income. Self employed tax form The taxable amount of your annuity using Worksheet A in this publication is $720. Self employed tax form You are a nonresident alien, so you figure the limited taxable amount of your annuity using Worksheet C as follows. Self employed tax form Worksheet C. Self employed tax form Limited Taxable Amount for Nonresident Alien — Example 1 1. Self employed tax form Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. Self employed tax form $ 720 2. Self employed tax form Enter the total U. Self employed tax form S. Self employed tax form Government basic pay other than tax-exempt pay for services performed outside the United States 2. Self employed tax form 0 3. Self employed tax form Enter the total U. Self employed tax form S. Self employed tax form Government basic pay for all services 3. Self employed tax form 100,000 4. Self employed tax form Divide line 2 by line 3 4. Self employed tax form 0 5. Self employed tax form Limited taxable amount. Self employed tax form Multiply line 1 by line 4. Self employed tax form Enter this amount on Form 1040NR, line 17b 5. Self employed tax form 0 Example 2. Self employed tax form You are a nonresident alien who performed services for the U. Self employed tax form S. Self employed tax form Government as a nonresident alien both within the United States and abroad. Self employed tax form You retired and began to receive a monthly annuity of $240. Self employed tax form Your total basic pay for your services for the U. Self employed tax form S. Self employed tax form Government was $120,000; $40,000 was for work done in the United States and $80,000 was for your work done in a foreign country. Self employed tax form The part of your total basic pay for your work done in a foreign country was tax exempt because it was not U. Self employed tax form S. Self employed tax form source income. Self employed tax form The taxable amount of your annuity figured using Worksheet A in this publication is $1,980. Self employed tax form You are a nonresident alien, so you figure the limited taxable amount of your annuity using Worksheet C as follows. Self employed tax form Worksheet C. Self employed tax form Limited Taxable Amount for Nonresident Alien — Example 2 1. Self employed tax form Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. Self employed tax form $ 1,980 2. Self employed tax form Enter the total U. Self employed tax form S. Self employed tax form Government basic pay other than tax-exempt pay for services performed outside the United States 2. Self employed tax form 40,000 3. Self employed tax form Enter the total U. Self employed tax form S. Self employed tax form Government basic pay for all services 3. Self employed tax form 120,000 4. Self employed tax form Divide line 2 by line 3 4. Self employed tax form . Self employed tax form 333 5. Self employed tax form Limited taxable amount. Self employed tax form Multiply line 1 by line 4. Self employed tax form Enter this amount on Form 1040NR, line 17b 5. Self employed tax form 659 Thrift Savings Plan Generally, all of the money in your TSP account is taxed as ordinary income when you receive it. Self employed tax form (However, see Roth TSP balance and Uniformed services TSP accounts, next. Self employed tax form ) This is because neither the contributions to your traditional TSP balance nor its earnings have been included previously in your taxable income. Self employed tax form The way that you withdraw your account balance determines when you must pay the tax. Self employed tax form Roth TSP balance. Self employed tax form   The TSP also offers a Roth TSP option, which allows you to make after-tax contributions into your TSP account. Self employed tax form This means Roth TSP contributions are included in your income. Self employed tax form The contribution limits are the same as the traditional TSP. Self employed tax form You can elect to have part or all of your TSP contributions designated as a Roth TSP. Self employed tax form Agency contributions will be part of your traditional TSP balance. Self employed tax form Also, you cannot roll over any portion of your traditional TSP into your Roth TSP. Self employed tax form   Qualified distributions from your Roth TSP are not included in income. Self employed tax form This applies to both your cost in the account and income earned on that account. Self employed tax form A qualified distribution is generally a distribution that is: Made after a 5-tax-year period of participation, and Made on or after the date you reach age 59½, made to a beneficiary or your estate on or after your death, or attributable to your being disabled. Self employed tax form   For more information, go to the TSP website, www. Self employed tax form tsp. Self employed tax form gov, or the TSP Service Office. Self employed tax form See Publication 575, Pension and Annuity Income, for more information about designated Roth accounts. Self employed tax form Uniformed services TSP accounts. Self employed tax form   If you have a uniformed services TSP account that includes contributions from combat zone pay, the distributions attributable to those contributions are tax exempt. Self employed tax form However, any earnings on those contributions to a traditional TSP balance are subject to tax when they are distributed. Self employed tax form See Roth TSP balance discussed previously to get more information about Roth contributions. Self employed tax form The statement you receive from the TSP will separately state the total amount of your distribution and the amount of your taxable distribution for the year. Self employed tax form You can get more information from the TSP website, www. Self employed tax form tsp. Self employed tax form gov, or the TSP Service Office. Self employed tax form Direct rollover by the TSP. Self employed tax form   If you ask the TSP to transfer any part of the money in your account, from traditional contributions and its earnings, to a traditional IRA or other qualified retirement plan, the tax on that part is deferred until you receive payments from the traditional IRA or other plan. Self employed tax form However, see the following Note for a discussion on direct rollovers by the TSP of Roth contributions and its earnings. Self employed tax form Also, see Rollover Rules , later. Self employed tax form Direct rollover by the TSP to a Roth IRA. Self employed tax form   If you ask the TSP to transfer any part of the money in your account, from traditional contributions and its earnings, to a Roth IRA, the amount transferred will be taxed in the current year. Self employed tax form However, see the following Note for a discussion on direct rollovers by the TSP of Roth contributions and its earnings. Self employed tax form Also, see Rollovers to Roth IRAs for more information, later. Self employed tax form Note. Self employed tax form A direct rollover of your Roth contributions and its earnings (if certain conditions are met, see Roth TSP balance , earlier) in your TSP account to a Roth 401(k), Roth 403(b), Roth 457(b), or Roth IRA are not subject to tax when they are transferred or when you receive payments from those accounts at a later date. Self employed tax form This is because you already paid tax on those contributions. Self employed tax form You cannot rollover Roth contributions and its earnings in your TSP account to a traditional IRA. Self employed tax form TSP annuity. Self employed tax form   If you ask the TSP to buy an annuity with the money in your account, from traditional contributions and its earnings, the annuity payments are taxed when you receive them. Self employed tax form The payments are not subject to the additional 10% tax on early distributions, even if you are under age 55 when they begin. Self employed tax form However, there is no tax on the annuity payments if the annuity is purchased using the money in your account from Roth contributions and its earnings if certain conditions are met. Self employed tax form See Roth TSP balance , earlier. Self employed tax form This is because you already paid tax on those contributions. Self employed tax form Cash withdrawals. Self employed tax form   If you withdraw any of the money in your TSP account, from traditional contributions and its earnings, it is generally taxed as ordinary income when you receive it unless you roll it over into a traditional IRA or other qualified plan. Self employed tax form (See Rollover Rules , later. Self employed tax form ) If you receive your entire TSP account balance in a single tax year, you may be able to use the 10-year tax option to figure your tax. Self employed tax form See Lump-Sum Distributions in Publication 575 for details. Self employed tax form However, there is no tax if you withdraw money in your TSP account from Roth contributions and its earnings if certain conditions are met. Self employed tax form See Roth TSP balance , earlier. Self employed tax form    To qualify for the 10-year tax option, the plan participant must have been born before January 2, 1936. Self employed tax form   If you receive a single payment or you choose to receive your account balance in monthly payments over a period of less than 10 years, the TSP generally must withhold 20% for federal income tax. Self employed tax form If you choose to receive your account balance in monthly payments over a period of 10 or more years or a period based on your life expectancy, the payments are subject to withholding as if you are married with three withholding allowances, unless you submit a withholding certificate. Self employed tax form See also Withholding from Thrift Savings Plan payments earlier under Tax Withholding and Estimated Tax in Part I. Self employed tax form However, there is no withholding requirement for amounts withdrawn from your TSP account that is from Roth contributions and its earnings, if certain conditions are met. Self employed tax form See Roth TSP balance , earlier, for a discussion of those conditions. Self employed tax form Tax on early distributions. Self employed tax form   Any money paid to you from your TSP account before you reach age 59½ may be subject to an additional 10% tax on early distributions. Self employed tax form However, this additional tax does not apply in certain situations, including any of the following. Self employed tax form You receive the distribution and separate from government service during or after the calendar year in which you reach age 55. Self employed tax form You choose to receive your account balance in monthly payments based on your life expectancy. Self employed tax form You are totally and permanently disabled. Self employed tax form You receive amounts from your Roth contributions since that represents a return of your cost (after-tax money). Self employed tax form The earnings may be subject to the 10% tax depending on whether you met certain conditions. Self employed tax form See Roth TSP balance , earlier. Self employed tax form   For more information, see Tax on Early Distributions in Publication 575. Self employed tax form Outstanding loan. Self employed tax form   If the TSP declares a distribution from your account because money you borrowed has not been repaid when you separate from government service, your account is reduced and the amount of the distribution (your unpaid loan balance and any unpaid interest), from traditional contributions and its earnings, is taxed in the year declared. Self employed tax form The distribution also may be subject to the additional 10% tax on early distributions. Self employed tax form However, the tax will be deferred if you make a rollover contribution to a traditional IRA or other qualified plan equal to the declared distribution amount. Self employed tax form See Rollover Rules , later. Self employed tax form   If you withdraw any money from your TSP account in that same year, the TSP must withhold income tax of 20% of the total of the declared distribution and the amount withdrawn. Self employed tax form However, no withholding is required for portions of the distribution that is from Roth contributions and its earnings, if certain conditions are met. Self employed tax form See Roth TSP balance , earlier. Self employed tax form More information. Self employed tax form   For more information about the TSP, see Summary of the Thrift Savings Plan, distributed to all federal employees. Self employed tax form Also, see Important Tax Information About Payments From Your TSP Account and Special Tax Withholding Rules for Thrift Savings Plan Payments to Nonresident Aliens, which are available from your agency personnel office or from the TSP by calling 1-TSP-YOU-FIRST (1-877-968-3778) and for participants who are deaf, hard of hearing, or have a speech disability, call 1-TSP-THRIFT5 (1-877-847-4385). Self employed tax form    The above documents are also available on the TSP website at www. Self employed tax form tsp. Self employed tax form gov. Self employed tax form Select “Forms & Publications. Self employed tax form ” Rollover Rules Generally, a rollover is a tax-free withdrawal of cash or other assets from one qualified retirement plan or traditional IRA and its reinvestment in another qualified retirement plan or traditional IRA. Self employed tax form You do not include the amount rolled over in your income, and you cannot take a deduction for it. Self employed tax form The amount rolled over is taxed later as the new program pays that amount to you. Self employed tax form If you roll over amounts into a traditional IRA, later distributions of these amounts from the traditional IRA do not qualify for the capital gain or the 10-year tax option. Self employed tax form However, capital gain treatment or the 10-year tax option will be restored if the traditional IRA contains only amounts rolled over from a qualified plan and these amounts are rolled over from the traditional IRA into a qualified retirement plan. Self employed tax form To qualify for the capital gain treatment or 10-year tax option, the plan participant must have been born before January 2, 1936. Self employed tax form You can also roll over a distribution from a qualified retirement plan into a Roth IRA. Self employed tax form Although the transfer of a distribution into a Roth IRA is considered a rollover for Roth IRA purposes, it is not a tax-free transfer unless you are rolling over amounts from Roth contributions and its earnings. Self employed tax form See Rollovers to Roth IRAs , later, for more information. Self employed tax form Qualified retirement plan. Self employed tax form   For this purpose, a qualified retirement plan generally is: A qualified employee plan, A qualified employee annuity, A tax-sheltered annuity plan (403(b) plan), or An eligible state or local government section 457 deferred compensation plan. Self employed tax form The CSRS, FERS, and TSP are considered qualified retirement plans. Self employed tax form Distributions eligible for rollover treatment. Self employed tax form   If you receive a refund of your CSRS or FERS contributions when you leave government service, you can roll over any interest you receive on the contributions. Self employed tax form You cannot roll over any part of your CSRS or FERS annuity payments. Self employed tax form   You can roll over a distribution of any part of your TSP account balance except: A distribution of your account balance that you choose to receive in monthly payments over: Your life expectancy, The joint life expectancies of you and your beneficiary, or A period of 10 years or more, A required minimum distribution generally beginning at age 70½, A declared distribution because of an unrepaid loan, if you have not separated from government service (see Outstanding loan under Thrift Savings Plan, earlier), or A hardship distribution. Self employed tax form   In addition, a distribution to your beneficiary generally is not treated as an eligible rollover distribution. Self employed tax form However, see Qualified domestic relations order (QDRO) and Rollovers by surviving spouse , and Rollovers by nonspouse beneficiary , later. Self employed tax form Direct rollover option. Self employed tax form   You can choose to have the OPM or TSP transfer any part of an eligible rollover distribution directly to another qualified retirement plan that accepts rollover distributions or to a traditional IRA or Roth IRA. Self employed tax form   There is an automatic rollover requirement for mandatory distributions. Self employed tax form A mandatory distribution is a distribution made without your consent and before you reach age 62 or normal retirement age, whichever is later. Self employed tax form The automatic rollover requirement applies if the distribution is more than $1,000 and is an eligible rollover distribution. Self employed tax form You can choose to have the distribution paid directly to you or rolled over directly to your traditional or Roth IRA or another qualified retirement plan. Self employed tax form If you do not make this choice, OPM will automatically roll over the distribution into an IRA of a designated trustee or issuer. Self employed tax form No tax withheld. Self employed tax form   If you choose the direct rollover option or have an automatic rollover, no tax will be withheld from any part of the distribution that is directly paid to the trustee of the other plan. Self employed tax form However, if the rollover is to a Roth IRA, you may want to choose to have tax withheld since any amount rolled over is generally included in income. Self employed tax form Any part of the eligible rollover distribution paid to you is subject to withholding at a 20% rate. Self employed tax form Direct roll over amounts from Roth contributions and its earnings do not have tax withheld because you already paid tax on those amounts. Self employed tax form Payment to you option. Self employed tax form   If an eligible rollover distribution is paid to you, the OPM or TSP must withhold 20% for income tax even if you plan to roll over the distribution to another qualified retirement plan, traditional or Roth IRA. Self employed tax form However, the full amount is treated as distributed to you even though you actually receive only 80%. Self employed tax form You generally must include in income any part (including the part withheld) that you do not roll over within 60 days to another qualified retirement plan or to a traditional IRA. Self employed tax form Rollovers to Roth IRAs are generally included in income. Self employed tax form Eligible rollover distributions that are from Roth contributions do not have tax withheld because you already paid tax on those amounts. Self employed tax form If you leave government service before the calendar year in which you reach age 55 and are under age 59½ when a distribution is paid to you, you may have to pay an additional 10% tax on any part, including any tax withheld, that you do not roll over. Self employed tax form However, distributions from Roth contributions will not be subject to the 10% additional tax because it is a return of your cost (after-tax money). Self employed tax form Earnings from those contributions may be subject to the 10% additional tax if certain conditions are not met. Self employed tax form See Roth TSP balance , earlier. Self employed tax form Also, see Tax on Early Distributions in Publication 575. Self employed tax form Exception to withholding. Self employed tax form   Withholding from an eligible rollover distribution paid to you is not required if the distributions for your tax year total less than $200. Self employed tax form Partial rollovers. Self employed tax form   A lump-sum distribution may qualify for capital gain treatment or the 10-year tax option if the plan participant was born before January 2, 1936. Self employed tax form See Lump-Sum Distributions in Publication 575. Self employed tax form However, if you roll over any part of the distribution, the part you keep does not qualify for this special tax treatment. Self employed tax form Rolling over more than amount received. Self employed tax form   If you want to roll over more of an eligible rollover distribution than the amount you received after income tax was withheld, you will have to add funds from some other source (such as your savings or borrowed amounts). Self employed tax form Example. Self employed tax form You left government service at age 53. Self employed tax form On February 1, 2013, you receive an eligible rollover distribution of $10,000 from you