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Tax Forms 1040x

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Tax Forms 1040x

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

Your identity may have been stolen if you receive a letter from the IRS stating or learn from a tax professional that ...

  1. ... you filed more than one tax return or someone has already filed using your information.

  2. ... you have a balance due, refund offset or have had collection actions taken against you for a year you did not file.

    and / or

  3. ... you received wages from an employer you have not worked for.

If you receive such a letter from the IRS and you suspect your identity has been stolen, respond immediately to the name, address, phone number or fax listed on the IRS letter or contact the IRS to determine if the letter is a legitimate IRS letter.

If you become the victim of identity theft outside of the tax system or believe you may be at risk due to a lost/stolen purse or wallet, questionable credit card activity or credit report, etc., you are encouraged to contact the IRS at the Identity Protection Specialized Unit, toll-free at 1-800-908-4490 so we can take steps to further secure your account.

The IPSU hours of Operation: Monday – Friday, 7 a.m. - 7 p.m. your local time (Alaska & Hawaii follow Pacific Time).

You will need to fill out the IRS Identity Theft Affidavit, Form 14039. Please be sure to write legibly and follow the instructions on the back of the form.


Identity protection home page
Page Last Reviewed or Updated: 06-Dec-2013

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The Tax Forms 1040x

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