Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

Taxact 2011 Free Edition

File Amended 2012 Tax ReturnH&rblockWww State Tax ReturnEz 1040H & R Block FreeFree Taxes Online Federal And StateOnline 1040ez FormIrs Tax Forms 1040xForm 1040Do State Taxes Online FreeNeed Amend My 2009 TaxesHow To File 2012 Federal Tax ReturnHow Can I File 2011 Taxes Online1040nr CalculatorVita Income TaxState Tax Efile FreeHow To Amend 2012 Tax ReturnHow To File An Amended State Tax ReturnMy1040ez ComFree 1040ez Tax ReturnCan I Amend My Taxes OnlineFree Self Tax Preparation Online2012 Income Tax SoftwareFree File Gov2012 Form 1040aTurbo Tax Filing 20122011 Tax Act Deluxe Unlock Code2013 Income Tax Forms 1040ez2010 Tax Form 1040ez2010 Taxes Cheap 1099 G Form W 21040x EfileAmend My Taxes1o40ezFile Income Tax OnlineCan You File A 1040x Online1040 Amended Tax Form2012 Tax ReturnsCan I Efile My 2011 Taxes In 2013Form 1040ez 2012Free Taxes H&r Block

Taxact 2011 Free Edition

Taxact 2011 free edition 2. Taxact 2011 free edition   Roth IRAs Table of Contents What's New for 2013 What's New for 2014 Reminders Introduction What Is a Roth IRA? When Can a Roth IRA Be Opened? Can You Contribute to a Roth IRA?How Much Can Be Contributed? When Can You Make Contributions? What if You Contribute Too Much? Can You Move Amounts Into a Roth IRA?Conversions Rollover From Employer's Plan Into a Roth IRA Military Death Gratuities and Servicemembers' Group Life Insurance (SGLI) Payments Rollover From a Roth IRA Rollover of Exxon Valdez Settlement Income Rollover of Airline Payments Are Distributions Taxable?What Are Qualified Distributions? Additional Tax on Early Distributions Ordering Rules for Distributions How Do You Figure the Taxable Part? Must You Withdraw or Use Assets?Minimum distributions. Taxact 2011 free edition Recognizing Losses on Investments Distributions After Owner's Death What's New for 2013 Roth IRA contribution limit. Taxact 2011 free edition  If contributions on your behalf are made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $5,500, or Your taxable compensation for the year. Taxact 2011 free edition If you were age 50 or older before 2014 and contributions on your behalf were made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $6,500, or Your taxable compensation for the year. Taxact 2011 free edition However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced. Taxact 2011 free edition For more information, see How Much Can Be Contributed? under Can You Contribute to a Roth IRA? in this chapter. Taxact 2011 free edition Modified AGI limit for Roth IRA contributions increased. Taxact 2011 free edition  For 2013, your Roth IRA contribution limit is reduced (phased out) in the following situations. Taxact 2011 free edition Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $178,000. Taxact 2011 free edition You cannot make a Roth IRA contribution if your modified AGI is $188,000 or more. Taxact 2011 free edition Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2013 and your modified AGI is at least $112,000. Taxact 2011 free edition You cannot make a Roth IRA contribution if your modified AGI is $127,000 or more. Taxact 2011 free edition Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Taxact 2011 free edition You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Taxact 2011 free edition See Can You Contribute to a Roth IRA? in this chapter. Taxact 2011 free edition Net Investment Income Tax. Taxact 2011 free edition  For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), 457(b) plans, and IRAs). Taxact 2011 free edition However, these distributions are taken into account when determining the modified adjusted gross income threshold. Taxact 2011 free edition Distributions from a nonqualified retirement plan are included in net investment income. Taxact 2011 free edition See Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions for more information. Taxact 2011 free edition What's New for 2014 Modified AGI limit for Roth IRA contributions increased. Taxact 2011 free edition  For 2014, your Roth IRA contribution limit is reduced (phased out) in the following situations. Taxact 2011 free edition Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $181,000. Taxact 2011 free edition You cannot make a Roth IRA contribution if your modified AGI is $191,000 or more. Taxact 2011 free edition Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2014 and your modified AGI is at least $114,000. Taxact 2011 free edition You cannot make a Roth IRA contribution if your modified AGI is $129,000 or more. Taxact 2011 free edition Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Taxact 2011 free edition You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Taxact 2011 free edition Reminders Deemed IRAs. Taxact 2011 free edition  For plan years beginning after 2002, a qualified employer plan (retirement plan) can maintain a separate account or annuity under the plan (a deemed IRA) to receive voluntary employee contributions. Taxact 2011 free edition If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules. Taxact 2011 free edition An employee's account can be treated as a traditional IRA or a Roth IRA. Taxact 2011 free edition For this purpose, a “qualified employer plan” includes: A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan), A qualified employee annuity plan (section 403(a) plan), A tax-sheltered annuity plan (section 403(b) plan), and A deferred compensation plan (section 457 plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state. Taxact 2011 free edition Designated Roth accounts. Taxact 2011 free edition  Designated Roth accounts are separate accounts under 401(k), 403(b), or 457(b) plans that accept elective deferrals that are referred to as Roth contributions. Taxact 2011 free edition These elective deferrals are included in your income, but qualified distributions from these accounts are not included in your income. Taxact 2011 free edition Designated Roth accounts are not IRAs and should not be confused with Roth IRAs. Taxact 2011 free edition Contributions, up to their respective limits, can be made to Roth IRAs and designated Roth accounts according to your eligibility to participate. Taxact 2011 free edition A contribution to one does not impact your eligibility to contribute to the other. Taxact 2011 free edition See Publication 575, for more information on designated Roth accounts. Taxact 2011 free edition Introduction Regardless of your age, you may be able to establish and make nondeductible contributions to an individual retirement plan called a Roth IRA. Taxact 2011 free edition Contributions not reported. Taxact 2011 free edition   You do not report Roth IRA contributions on your return. Taxact 2011 free edition What Is a Roth IRA? A Roth IRA is an individual retirement plan that, except as explained in this chapter, is subject to the rules that apply to a traditional IRA (defined next). Taxact 2011 free edition It can be either an account or an annuity. Taxact 2011 free edition Individual retirement accounts and annuities are described in chapter 1 under How Can a Traditional IRA Be Opened. Taxact 2011 free edition To be a Roth IRA, the account or annuity must be designated as a Roth IRA when it is opened. Taxact 2011 free edition A deemed IRA can be a Roth IRA, but neither a SEP IRA nor a SIMPLE IRA can be designated as a Roth IRA. Taxact 2011 free edition Unlike a traditional IRA, you cannot deduct contributions to a Roth IRA. Taxact 2011 free edition But, if you satisfy the requirements, qualified distributions (discussed later) are tax free. Taxact 2011 free edition Contributions can be made to your Roth IRA after you reach age 70½ and you can leave amounts in your Roth IRA as long as you live. Taxact 2011 free edition Traditional IRA. Taxact 2011 free edition   A traditional IRA is any IRA that is not a Roth IRA or SIMPLE IRA. Taxact 2011 free edition Traditional IRAs are discussed in chapter 1. Taxact 2011 free edition When Can a Roth IRA Be Opened? You can open a Roth IRA at any time. Taxact 2011 free edition However, the time for making contributions for any year is limited. Taxact 2011 free edition See When Can You Make Contributions , later under Can You Contribute to a Roth IRA. Taxact 2011 free edition Can You Contribute to a Roth IRA? Generally, you can contribute to a Roth IRA if you have taxable compensation (defined later) and your modified AGI (defined later) is less than: $188,000 for married filing jointly or qualifying widow(er), $127,000 for single, head of household, or married filing separately and you did not live with your spouse at any time during the year, and $10,000 for married filing separately and you lived with your spouse at any time during the year. Taxact 2011 free edition You may be able to claim a credit for contributions to your Roth IRA. Taxact 2011 free edition For more information, see chapter 4. Taxact 2011 free edition Is there an age limit for contributions?   Contributions can be made to your Roth IRA regardless of your age. Taxact 2011 free edition Can you contribute to a Roth IRA for your spouse?   You can contribute to a Roth IRA for your spouse provided the contributions satisfy the Kay Bailey Hutchison Spousal IRA limit discussed in chapter 1 under How Much Can Be Contributed, you file jointly, and your modified AGI is less than $188,000. Taxact 2011 free edition Compensation. Taxact 2011 free edition   Compensation includes wages, salaries, tips, professional fees, bonuses, and other amounts received for providing personal services. Taxact 2011 free edition It also includes commissions, self-employment income, nontaxable combat pay, military differential pay, and taxable alimony and separate maintenance payments. Taxact 2011 free edition For more information, see What Is Compensation? under Who Can Open a Traditional IRA? in chapter 1. Taxact 2011 free edition Modified AGI. Taxact 2011 free edition   Your modified AGI for Roth IRA purposes is your adjusted gross income (AGI) as shown on your return with some adjustments. Taxact 2011 free edition Use Worksheet 2-1 , later, to determine your modified AGI. Taxact 2011 free edition    Do not subtract conversion income when figuring your other AGI-based phaseouts and taxable income, such as your deduction for medical and dental expenses. Taxact 2011 free edition Subtract them from AGI only for the purpose of figuring your modified AGI for Roth IRA purposes. Taxact 2011 free edition How Much Can Be Contributed? The contribution limit for Roth IRAs generally depends on whether contributions are made only to Roth IRAs or to both traditional IRAs and Roth IRAs. Taxact 2011 free edition Worksheet 2-1. Taxact 2011 free edition Modified Adjusted Gross Income for Roth IRA Purposes Use this worksheet to figure your modified adjusted gross income for Roth IRA purposes. Taxact 2011 free edition 1. Taxact 2011 free edition Enter your adjusted gross income from Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 37 1. Taxact 2011 free edition   2. Taxact 2011 free edition Enter any income resulting from the conversion of an IRA (other than a Roth IRA) to a Roth IRA (included on Form 1040, line 15b, Form 1040A, line 11b, or Form 1040NR, line 16b) and a rollover from a qualified retirement plan to a Roth IRA (included on Form 1040, line 16b, Form 1040A, line 12b, or Form 1040NR, line 17b) 2. Taxact 2011 free edition   3. Taxact 2011 free edition Subtract line 2 from line 1 3. Taxact 2011 free edition   4. Taxact 2011 free edition Enter any traditional IRA deduction from Form 1040, line 32; Form 1040A, line 17; or Form 1040NR, line 32 4. Taxact 2011 free edition   5. Taxact 2011 free edition Enter any student loan interest deduction from Form 1040, line 33; Form 1040A, line 18; or Form 1040NR, line 33 5. Taxact 2011 free edition   6. Taxact 2011 free edition Enter any tuition and fees deduction from Form 1040, line 34, or Form 1040A, line 19 6. Taxact 2011 free edition   7. Taxact 2011 free edition Enter any domestic production activities deduction from Form 1040, line 35, or Form 1040NR, line 34 7. Taxact 2011 free edition   8. Taxact 2011 free edition Enter any foreign earned income exclusion and/or housing exclusion from Form 2555, line 45, or Form 2555-EZ, line 18 8. Taxact 2011 free edition   9. Taxact 2011 free edition Enter any foreign housing deduction from Form 2555, line 50 9. Taxact 2011 free edition   10. Taxact 2011 free edition Enter any excludable qualified savings bond interest from Form 8815, line 14 10. Taxact 2011 free edition   11. Taxact 2011 free edition Enter any excluded employer-provided adoption benefits from Form 8839, line 28 11. Taxact 2011 free edition   12. Taxact 2011 free edition Add the amounts on lines 3 through 11 12. Taxact 2011 free edition   13. Taxact 2011 free edition Enter: $188,000 if married filing jointly or qualifying widow(er), $10,000 if married filing separately and you lived with your spouse at any time during the year, or $127,000 for all others 13. Taxact 2011 free edition   Is the amount on line 12 more than the amount on line 13? If yes, see the note below. Taxact 2011 free edition  If no, the amount on line 12 is your modified adjusted gross income for Roth IRA purposes. Taxact 2011 free edition       Note. Taxact 2011 free edition If the amount on line 12 is more than the amount on line 13 and you have other income or loss items, such as social security income or passive activity losses, that are subject to AGI-based phaseouts, you can refigure your AGI solely for the purpose of figuring your modified AGI for Roth IRA purposes. Taxact 2011 free edition (If you receive social security benefits, use Worksheet 1 in Appendix B to refigure your AGI. Taxact 2011 free edition ) Then go to line 3 above in this Worksheet 2-1 to refigure your modified AGI. Taxact 2011 free edition If you do not have other income or loss items subject to AGI-based phaseouts, your modified adjusted gross income for Roth IRA purposes is the amount on line 12 above. Taxact 2011 free edition Roth IRAs only. Taxact 2011 free edition   If contributions are made only to Roth IRAs, your contribution limit generally is the lesser of: $5,500 ($6,500 if you are age 50 or older), or Your taxable compensation. Taxact 2011 free edition   However, if your modified AGI is above a certain amount, your contribution limit may be reduced, as explained later under Contribution limit reduced . Taxact 2011 free edition Roth IRAs and traditional IRAs. Taxact 2011 free edition   If contributions are made to both Roth IRAs and traditional IRAs established for your benefit, your contribution limit for Roth IRAs generally is the same as your limit would be if contributions were made only to Roth IRAs, but then reduced by all contributions for the year to all IRAs other than Roth IRAs. Taxact 2011 free edition Employer contributions under a SEP or SIMPLE IRA plan do not affect this limit. Taxact 2011 free edition   This means that your contribution limit is the lesser of: $5,500 ($6,500 if you are age 50 or older) minus all contributions (other than employer contributions under a SEP or SIMPLE IRA plan) for the year to all IRAs other than Roth IRAs, or Your taxable compensation minus all contributions (other than employer contributions under a SEP or SIMPLE IRA plan) for the year to all IRAs other than Roth IRAs. Taxact 2011 free edition   However, if your modified AGI is above a certain amount, your contribution limit may be reduced, as explained below under Contribution limit reduced . Taxact 2011 free edition   Simplified employee pensions (SEPs) are discussed in Publication 560. Taxact 2011 free edition Savings incentive match plans for employees (SIMPLEs) are discussed in chapter 3. Taxact 2011 free edition Repayment of reservist distributions. Taxact 2011 free edition   You can repay qualified reservist distributions even if the repayments would cause your total contributions to the Roth IRA to be more than the general limit on contributions. Taxact 2011 free edition However, the total repayments cannot be more than the amount of your distribution. Taxact 2011 free edition Note. Taxact 2011 free edition If you make repayments of qualified reservist distributions to a Roth IRA, increase your basis in the Roth IRA by the amount of the repayment. Taxact 2011 free edition For more information, see Qualified reservist repayments under How Much Can Be Contributed? in chapter 1. Taxact 2011 free edition Contribution limit reduced. Taxact 2011 free edition   If your modified AGI is above a certain amount, your contribution limit is gradually reduced. Taxact 2011 free edition Use Table 2-1, later, to determine if this reduction applies to you. Taxact 2011 free edition Table 2-1. Taxact 2011 free edition Effect of Modified AGI on Roth IRA Contribution This table shows whether your contribution to a Roth IRA is affected by the amount of your modified adjusted gross income (modified AGI). Taxact 2011 free edition IF you have taxable compensation and your filing status is . Taxact 2011 free edition . Taxact 2011 free edition . Taxact 2011 free edition AND your modified AGI is . Taxact 2011 free edition . Taxact 2011 free edition . Taxact 2011 free edition THEN . Taxact 2011 free edition . Taxact 2011 free edition . Taxact 2011 free edition married filing jointly or  qualifying widow(er) less than $178,000 you can contribute up to $5,500 ($6,500 if you are age 50 or older) as explained under How Much Can Be Contributed . Taxact 2011 free edition at least $178,000 but less than $188,000 the amount you can contribute is reduced as explained under Contribution limit reduced . Taxact 2011 free edition $188,000 or more you cannot contribute to a Roth IRA. Taxact 2011 free edition married filing separately and you lived with your spouse at any time during the year zero (-0-) you can contribute up to $5,500 ($6,500 if you are age 50 or older) as explained under How Much Can Be Contributed . Taxact 2011 free edition more than zero (-0-) but less than $10,000 the amount you can contribute is reduced as explained under Contribution limit reduced . Taxact 2011 free edition $10,000 or more you cannot contribute to a Roth IRA. Taxact 2011 free edition single, head of household,  or married filing separately and you did not live with your spouse at any time during the year less than $112,000 you can contribute up to $5,500 ($6,500 if you are age 50 or older) as explained under How Much Can Be Contributed . Taxact 2011 free edition at least $112,000 but less than $127,000 the amount you can contribute is reduced as explained under Contribution limit reduced . Taxact 2011 free edition $127,000 or more you cannot contribute to a Roth IRA. Taxact 2011 free edition Figuring the reduction. Taxact 2011 free edition   If the amount you can contribute must be reduced, use Worksheet 2-2, later, to figure your reduced contribution limit. Taxact 2011 free edition Worksheet 2-2. Taxact 2011 free edition Determining Your Reduced Roth IRA Contribution Limit Before using this worksheet, check Table 2-1, earlier, to determine whether or not your Roth IRA contribution limit is reduced. Taxact 2011 free edition If it is, use this worksheet to determine how much it is reduced. Taxact 2011 free edition 1. Taxact 2011 free edition Enter your modified AGI for Roth IRA purposes (Worksheet 2-1, line 12) 1. Taxact 2011 free edition   2. Taxact 2011 free edition Enter: $178,000 if filing a joint return or qualifying widow(er), $-0- if married filing a separate return and you lived with your spouse at any time in 2013, or $112,000 for all others 2. Taxact 2011 free edition   3. Taxact 2011 free edition Subtract line 2 from line 1 3. Taxact 2011 free edition   4. Taxact 2011 free edition Enter: $10,000 if filing a joint return or qualifying widow(er) or married filing a separate return and you lived with your spouse at any time during the year, or $15,000 for all others 4. Taxact 2011 free edition   5. Taxact 2011 free edition Divide line 3 by line 4 and enter the result as a decimal (rounded to at least three places). Taxact 2011 free edition If the result is 1. Taxact 2011 free edition 000 or more, enter 1. Taxact 2011 free edition 000 5. Taxact 2011 free edition   6. Taxact 2011 free edition Enter the lesser of: $5,500 ($6,500 if you are age 50 or older), or Your taxable compensation 6. Taxact 2011 free edition   7. Taxact 2011 free edition Multiply line 5 by line 6 7. Taxact 2011 free edition   8. Taxact 2011 free edition Subtract line 7 from line 6. Taxact 2011 free edition Round the result up to the nearest $10. Taxact 2011 free edition If the result is less than $200, enter $200 8. Taxact 2011 free edition   9. Taxact 2011 free edition Enter contributions for the year to other IRAs 9. Taxact 2011 free edition   10. Taxact 2011 free edition Subtract line 9 from line 6 10. Taxact 2011 free edition   11. Taxact 2011 free edition Enter the lesser of line 8 or line 10. Taxact 2011 free edition This is your reduced Roth IRA contribution limit 11. Taxact 2011 free edition      Round your reduced contribution limit up to the nearest $10. Taxact 2011 free edition If your reduced contribution limit is more than $0, but less than $200, increase the limit to $200. Taxact 2011 free edition Example. Taxact 2011 free edition You are a 45-year-old, single individual with taxable compensation of $113,000. Taxact 2011 free edition You want to make the maximum allowable contribution to your Roth IRA for 2013. Taxact 2011 free edition Your modified AGI for 2013 is $113,000. Taxact 2011 free edition You have not contributed to any traditional IRA, so the maximum contribution limit before the modified AGI reduction is $5,500. Taxact 2011 free edition You figure your reduced Roth IRA contribution of $5,140 as shown on Worksheet 2-2. Taxact 2011 free edition Example—Illustrated, later. Taxact 2011 free edition   Worksheet 2-2. Taxact 2011 free edition Example—Illustrated Before using this worksheet, check Table 2-1, earlier, to determine whether or not your Roth IRA contribution limit is reduced. Taxact 2011 free edition If it is, use this worksheet to determine how much it is reduced. Taxact 2011 free edition 1. Taxact 2011 free edition Enter your modified AGI for Roth IRA purposes (Worksheet 2-1, line 12) 1. Taxact 2011 free edition 113,000 2. Taxact 2011 free edition Enter: $178,000 if filing a joint return or qualifying widow(er), $-0- if married filing a separate return and you lived with your spouse at any time in 2013, or $112,000 for all others 2. Taxact 2011 free edition 112,000 3. Taxact 2011 free edition Subtract line 2 from line 1 3. Taxact 2011 free edition 1,000 4. Taxact 2011 free edition Enter: $10,000 if filing a joint return or qualifying widow(er) or married filing a separate return and you lived with your spouse at any time during the year, or $15,000 for all others 4. Taxact 2011 free edition 15,000 5. Taxact 2011 free edition Divide line 3 by line 4 and enter the result as a decimal (rounded to at least three places). Taxact 2011 free edition If the result is 1. Taxact 2011 free edition 000 or more, enter 1. Taxact 2011 free edition 000 5. Taxact 2011 free edition . Taxact 2011 free edition 067 6. Taxact 2011 free edition Enter the lesser of: $5,500 ($6,500 if you are age 50 or older), or Your taxable compensation 6. Taxact 2011 free edition 5,500 7. Taxact 2011 free edition Multiply line 5 by line 6 7. Taxact 2011 free edition 369 8. Taxact 2011 free edition Subtract line 7 from line 6. Taxact 2011 free edition Round the result up to the nearest $10. Taxact 2011 free edition If the result is less than $200, enter $200 8. Taxact 2011 free edition 5,140 9. Taxact 2011 free edition Enter contributions for the year to other IRAs 9. Taxact 2011 free edition 0 10. Taxact 2011 free edition Subtract line 9 from line 6 10. Taxact 2011 free edition 5,500 11. Taxact 2011 free edition Enter the lesser of line 8 or line 10. Taxact 2011 free edition This is your reduced Roth IRA contribution limit 11. Taxact 2011 free edition 5,140 When Can You Make Contributions? You can make contributions to a Roth IRA for a year at any time during the year or by the due date of your return for that year (not including extensions). Taxact 2011 free edition You can make contributions for 2013 by the due date (not including extensions) for filing your 2013 tax return. Taxact 2011 free edition This means that most people can make contributions for 2013 by April 15, 2014. Taxact 2011 free edition What if You Contribute Too Much? A 6% excise tax applies to any excess contribution to a Roth IRA. Taxact 2011 free edition Excess contributions. Taxact 2011 free edition   These are the contributions to your Roth IRAs for a year that equal the total of: Amounts contributed for the tax year to your Roth IRAs (other than amounts properly and timely rolled over from a Roth IRA or properly converted from a traditional IRA or rolled over from a qualified retirement plan, as described later) that are more than your contribution limit for the year (explained earlier under How Much Can Be Contributed? ), plus Any excess contributions for the preceding year, reduced by the total of: Any distributions out of your Roth IRAs for the year, plus Your contribution limit for the year minus your contributions to all your IRAs for the year. Taxact 2011 free edition Withdrawal of excess contributions. Taxact 2011 free edition   For purposes of determining excess contributions, any contribution that is withdrawn on or before the due date (including extensions) for filing your tax return for the year is treated as an amount not contributed. Taxact 2011 free edition This treatment only applies if any earnings on the contributions are also withdrawn. Taxact 2011 free edition The earnings are considered earned and received in the year the excess contribution was made. Taxact 2011 free edition   If you timely filed your 2013 tax return without withdrawing a contribution that you made in 2013, you can still have the contribution returned to you within 6 months of the due date of your 2013 tax return, excluding extensions. Taxact 2011 free edition If you do, file an amended return with “Filed pursuant to section 301. Taxact 2011 free edition 9100-2” written at the top. Taxact 2011 free edition Report any related earnings on the amended return and include an explanation of the withdrawal. Taxact 2011 free edition Make any other necessary changes on the amended return. Taxact 2011 free edition Applying excess contributions. Taxact 2011 free edition    If contributions to your Roth IRA for a year were more than the limit, you can apply the excess contribution in one year to a later year if the contributions for that later year are less than the maximum allowed for that year. Taxact 2011 free edition Can You Move Amounts Into a Roth IRA? You may be able to convert amounts from either a traditional, SEP, or SIMPLE IRA into a Roth IRA. Taxact 2011 free edition You may be able to roll over amounts from a qualified retirement plan to a Roth IRA. Taxact 2011 free edition You may be able to recharacterize contributions made to one IRA as having been made directly to a different IRA. Taxact 2011 free edition You can roll amounts over from a designated Roth account or from one Roth IRA to another Roth IRA. Taxact 2011 free edition Conversions You can convert a traditional IRA to a Roth IRA. Taxact 2011 free edition The conversion is treated as a rollover, regardless of the conversion method used. Taxact 2011 free edition Most of the rules for rollovers, described in chapter 1 under Rollover From One IRA Into Another , apply to these rollovers. Taxact 2011 free edition However, the 1-year waiting period does not apply. Taxact 2011 free edition Conversion methods. Taxact 2011 free edition   You can convert amounts from a traditional IRA to a Roth IRA in any of the following three ways. Taxact 2011 free edition Rollover. Taxact 2011 free edition You can receive a distribution from a traditional IRA and roll it over (contribute it) to a Roth IRA within 60 days after the distribution. Taxact 2011 free edition Trustee-to-trustee transfer. Taxact 2011 free edition You can direct the trustee of the traditional IRA to transfer an amount from the traditional IRA to the trustee of the Roth IRA. Taxact 2011 free edition Same trustee transfer. Taxact 2011 free edition If the trustee of the traditional IRA also maintains the Roth IRA, you can direct the trustee to transfer an amount from the traditional IRA to the Roth IRA. Taxact 2011 free edition Same trustee. Taxact 2011 free edition   Conversions made with the same trustee can be made by redesignating the traditional IRA as a Roth IRA, rather than opening a new account or issuing a new contract. Taxact 2011 free edition Income. Taxact 2011 free edition   You must include in your gross income distributions from a traditional IRA that you would have had to include in income if you had not converted them into a Roth IRA. Taxact 2011 free edition These amounts are normally included in income on your return for the year that you converted them from a traditional IRA to a Roth IRA. Taxact 2011 free edition If you must include any amount in your gross income, you may have to increase your withholding or make estimated tax payments. Taxact 2011 free edition See Publication 505, Tax Withholding and Estimated Tax. Taxact 2011 free edition More information. Taxact 2011 free edition   For more information on conversions, see Converting From Any Traditional IRA Into a Roth IRA in chapter 1. Taxact 2011 free edition Rollover From Employer's Plan Into a Roth IRA You can roll over into a Roth IRA all or part of an eligible rollover distribution you receive from your (or your deceased spouse's): Employer's qualified pension, profit-sharing, or stock bonus plan (including a 401(k) plan); Annuity plan; Tax-sheltered annuity plan (section 403(b) plan); or Governmental deferred compensation plan (section 457 plan). Taxact 2011 free edition Any amount rolled over is subject to the same rules for converting a traditional IRA into a Roth IRA. Taxact 2011 free edition See Converting From Any Traditional IRA Into a Roth IRA in chapter 1. Taxact 2011 free edition Also, the rollover contribution must meet the rollover requirements that apply to the specific type of retirement plan. Taxact 2011 free edition Rollover methods. Taxact 2011 free edition   You can roll over amounts from a qualified retirement plan to a Roth IRA in one of the following ways. Taxact 2011 free edition Rollover. Taxact 2011 free edition You can receive a distribution from a qualified retirement plan and roll it over (contribute) to a Roth IRA within 60 days after the distribution. Taxact 2011 free edition Since the distribution is paid directly to you, the payer generally must withhold 20% of it. Taxact 2011 free edition Direct rollover option. Taxact 2011 free edition Your employer's qualified plan must give you the option to have any part of an eligible rollover distribution paid directly to a Roth IRA. Taxact 2011 free edition Generally, no tax is withheld from any part of the designated distribution that is directly paid to the trustee of the Roth IRA. Taxact 2011 free edition Rollover by nonspouse beneficiary. Taxact 2011 free edition   If you are a designated beneficiary (other than a surviving spouse) of a deceased employee, you can roll over all or part of an eligible rollover distribution from one of the types of plans listed above into a Roth IRA. Taxact 2011 free edition You must make the rollover by a direct trustee-to-trustee transfer into an inherited Roth IRA. Taxact 2011 free edition   You will determine your required minimum distributions in years after you make the rollover based on whether the employee died before his or her required beginning date for taking distributions from the plan. Taxact 2011 free edition For more information, see Distributions after the employee’s death under Tax on Excess Accumulation in Publication 575. Taxact 2011 free edition Income. Taxact 2011 free edition   You must include in your gross income distributions from a qualified retirement plan that you would have had to include in income if you had not rolled them over into a Roth IRA. Taxact 2011 free edition You do not include in gross income any part of a distribution from a qualified retirement plan that is a return of contributions (after-tax contributions) to the plan that were taxable to you when paid. Taxact 2011 free edition These amounts are normally included in income on your return for the year of the rollover from the qualified employer plan to a Roth IRA. Taxact 2011 free edition If you must include any amount in your gross income, you may have to increase your withholding or make estimated tax payments. Taxact 2011 free edition See Publication 505, Tax Withholding and Estimated Tax. Taxact 2011 free edition For more information on eligible rollover distributions from qualified retirement plans and withholding, see Rollover From Employer's Plan Into an IRA in chapter 1. Taxact 2011 free edition Military Death Gratuities and Servicemembers' Group Life Insurance (SGLI) Payments If you received a military death gratuity or SGLI payment with respect to a death from injury that occurred after October 6, 2001, you can contribute (roll over) all or part of the amount received to your Roth IRA. Taxact 2011 free edition The contribution is treated as a qualified rollover contribution. Taxact 2011 free edition The amount you can roll over to your Roth IRA cannot exceed the total amount that you received reduced by any part of that amount that was contributed to a Coverdell ESA or another Roth IRA. Taxact 2011 free edition Any military death gratuity or SGLI payment contributed to a Roth IRA is disregarded for purposes of the 1-year waiting period between rollovers. Taxact 2011 free edition The rollover must be completed before the end of the 1-year period beginning on the date you received the payment. Taxact 2011 free edition The amount contributed to your Roth IRA is treated as part of your cost basis (investment in the contract) in the Roth IRA that is not taxable when distributed. Taxact 2011 free edition Rollover From a Roth IRA You can withdraw, tax free, all or part of the assets from one Roth IRA if you contribute them within 60 days to another Roth IRA. Taxact 2011 free edition Most of the rules for rollovers, described in chapter 1 under Rollover From One IRA Into Another , apply to these rollovers. Taxact 2011 free edition However, rollovers from retirement plans other than Roth IRAs are disregarded for purposes of the 1-year waiting period between rollovers. Taxact 2011 free edition A rollover from a Roth IRA to an employer retirement plan is not allowed. Taxact 2011 free edition A rollover from a designated Roth account can only be made to another designated Roth account or to a Roth IRA. Taxact 2011 free edition If you roll over an amount from one Roth IRA to another Roth IRA, the 5-year period used to determine qualified distributions does not change. Taxact 2011 free edition The 5-year period begins with the first taxable year for which the contribution was made to the initial Roth IRA. Taxact 2011 free edition See What are Qualified Distributions , later. Taxact 2011 free edition Rollover of Exxon Valdez Settlement Income If you are a qualified taxpayer (defined in chapter 1, earlier) and you received qualified settlement income (defined in chapter 1, earlier), you can contribute all or part of the amount received to an eligible retirement plan which includes a Roth IRA. Taxact 2011 free edition The rules for contributing qualified settlement income to a Roth IRA are the same as the rules for contributing qualified settlement income to a traditional IRA with the following exception. Taxact 2011 free edition Qualified settlement income that is contributed to a Roth IRA, or to a designated Roth account, will be: Included in your taxable income for the year the qualified settlement income was received, and Treated as part of your cost basis (investment in the contract) in the Roth IRA that is not taxable when distributed. Taxact 2011 free edition For more information, see Rollover of Exxon Valdez Settlement Income in chapter 1. Taxact 2011 free edition Rollover of Airline Payments If you are a qualified airline employee (defined next), you may contribute any portion of an airline payment (defined below) you receive to a Roth IRA. Taxact 2011 free edition The contribution must be made within 180 days from the date you received the payment. Taxact 2011 free edition The contribution will be treated as a qualified rollover contribution. Taxact 2011 free edition The rollover contribution is included in income to the extent it would be included in income if it were not part of the rollover contribution. Taxact 2011 free edition Also, any reduction in the airline payment amount on account of employment taxes shall be disregarded when figuring the amount you can contribute to your Roth IRA. Taxact 2011 free edition Qualified airline employee. Taxact 2011 free edition    A current or former employee of a commercial airline carrier who was a participant in a qualified defined benefit plan maintained by the carrier which was terminated or became subject to restrictions under Section 402(b) of the Pension Protection Act of 2006. Taxact 2011 free edition These provisions also apply to surviving spouses of qualified airline employees. Taxact 2011 free edition Airline payment. Taxact 2011 free edition    An airline payment is any payment of money or other property that is paid to a qualified airline employee from a commercial airline carrier. Taxact 2011 free edition The payment also must be made both: Under the approval of an order of federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, and In respect of the qualified airline employee’s interest in a bankruptcy claim against the airline carrier, any note of the carrier (or amount paid in lieu of a note being issued), or any other fixed obligation of the carrier to pay a lump sum amount. Taxact 2011 free edition Any reduction in the airline payment amount on account of employment taxes shall be disregarded when figuring the amount you can roll over to your traditional IRA. Taxact 2011 free edition Also, an airline payment shall not include any amount payable on the basis of the airline carrier’s future earnings or profits. Taxact 2011 free edition Are Distributions Taxable? You do not include in your gross income qualified distributions or distributions that are a return of your regular contributions from your Roth IRA(s). Taxact 2011 free edition You also do not include distributions from your Roth IRA that you roll over tax free into another Roth IRA. Taxact 2011 free edition You may have to include part of other distributions in your income. Taxact 2011 free edition See Ordering Rules for Distributions , later. Taxact 2011 free edition Basis of distributed property. Taxact 2011 free edition   The basis of property distributed from a Roth IRA is its fair market value (FMV) on the date of distribution, whether or not the distribution is a qualified distribution. Taxact 2011 free edition Withdrawals of contributions by due date. Taxact 2011 free edition   If you withdraw contributions (including any net earnings on the contributions) by the due date of your return for the year in which you made the contribution, the contributions are treated as if you never made them. Taxact 2011 free edition If you have an extension of time to file your return, you can withdraw the contributions and earnings by the extended due date. Taxact 2011 free edition The withdrawal of contributions is tax free, but you must include the earnings on the contributions in income for the year in which you made the contributions. Taxact 2011 free edition What Are Qualified Distributions? A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements. Taxact 2011 free edition It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, and The payment or distribution is: Made on or after the date you reach age 59½, Made because you are disabled (defined earlier), Made to a beneficiary or to your estate after your death, or One that meets the requirements listed under First home under Exceptions in chapter 1 (up to a $10,000 lifetime limit). Taxact 2011 free edition Additional Tax on Early Distributions If you receive a distribution that is not a qualified distribution, you may have to pay the 10% additional tax on early distributions as explained in the following paragraphs. Taxact 2011 free edition Distributions of conversion and certain rollover contributions within 5-year period. Taxact 2011 free edition   If, within the 5-year period starting with the first day of your tax year in which you convert an amount from a traditional IRA or rollover an amount from a qualified retirement plan to a Roth IRA, you take a distribution from a Roth IRA, you may have to pay the 10% additional tax on early distributions. Taxact 2011 free edition You generally must pay the 10% additional tax on any amount attributable to the part of the amount converted or rolled over (the conversion or rollover contribution) that you had to include in income (recapture amount). Taxact 2011 free edition A separate 5-year period applies to each conversion and rollover. Taxact 2011 free edition See Ordering Rules for Distributions , later, to determine the recapture amount, if any. Taxact 2011 free edition   The 5-year period used for determining whether the 10% early distribution tax applies to a distribution from a conversion or rollover contribution is separately determined for each conversion and rollover, and is not necessarily the same as the 5-year period used for determining whether a distribution is a qualified distribution. Taxact 2011 free edition See What Are Qualified Distributions , earlier. Taxact 2011 free edition   For example, if a calendar-year taxpayer makes a conversion contribution on February 25, 2013, and makes a regular contribution for 2012 on the same date, the 5-year period for the conversion begins January 1, 2013, while the 5-year period for the regular contribution begins on January 1, 2012. Taxact 2011 free edition   Unless one of the exceptions listed later applies, you must pay the additional tax on the portion of the distribution attributable to the part of the conversion or rollover contribution that you had to include in income because of the conversion or rollover. Taxact 2011 free edition   You must pay the 10% additional tax in the year of the distribution, even if you had included the conversion or rollover contribution in an earlier year. Taxact 2011 free edition You also must pay the additional tax on any portion of the distribution attributable to earnings on contributions. Taxact 2011 free edition Other early distributions. Taxact 2011 free edition   Unless one of the exceptions listed below applies, you must pay the 10% additional tax on the taxable part of any distributions that are not qualified distributions. Taxact 2011 free edition Exceptions. Taxact 2011 free edition   You may not have to pay the 10% additional tax in the following situations. Taxact 2011 free edition You have reached age 59½. Taxact 2011 free edition You are totally and permanently disabled. Taxact 2011 free edition You are the beneficiary of a deceased IRA owner. Taxact 2011 free edition You use the distribution to buy, build, or rebuild a first home. Taxact 2011 free edition The distributions are part of a series of substantially equal payments. Taxact 2011 free edition You have unreimbursed medical expenses that are more than 10% (or 7. Taxact 2011 free edition 5% if you or your spouse was born before January 2, 1949) of your adjusted gross income (defined earlier) for the year. Taxact 2011 free edition You are paying medical insurance premiums during a period of unemployment. Taxact 2011 free edition The distributions are not more than your qualified higher education expenses. Taxact 2011 free edition The distribution is due to an IRS levy of the qualified plan. Taxact 2011 free edition The distribution is a qualified reservist distribution. Taxact 2011 free edition Most of these exceptions are discussed earlier in chapter 1 under Early Distributions . Taxact 2011 free edition Please click here for the text description of the image. Taxact 2011 free edition Is Roth Distributions a Qualified Distribution? Ordering Rules for Distributions If you receive a distribution from your Roth IRA that is not a qualified distribution, part of it may be taxable. Taxact 2011 free edition There is a set order in which contributions (including conversion contributions and rollover contributions from qualified retirement plans) and earnings are considered to be distributed from your Roth IRA. Taxact 2011 free edition For these purposes, disregard the withdrawal of excess contributions and the earnings on them (discussed earlier under What if You Contribute Too Much ). Taxact 2011 free edition Order the distributions as follows. Taxact 2011 free edition Regular contributions. Taxact 2011 free edition Conversion and rollover contributions, on a first-in, first-out basis (generally, total conversions and rollovers from the earliest year first). Taxact 2011 free edition See Aggregation (grouping and adding) rules, later. Taxact 2011 free edition Take these conversion and rollover contributions into account as follows: Taxable portion (the amount required to be included in gross income because of the conversion or rollover) first, and then the Nontaxable portion. Taxact 2011 free edition Earnings on contributions. Taxact 2011 free edition Disregard rollover contributions from other Roth IRAs for this purpose. Taxact 2011 free edition Aggregation (grouping and adding) rules. Taxact 2011 free edition   Determine the taxable amounts distributed (withdrawn), distributions, and contributions by grouping and adding them together as follows. Taxact 2011 free edition Add all distributions from all your Roth IRAs during the year together. Taxact 2011 free edition Add all regular contributions made for the year (including contributions made after the close of the year, but before the due date of your return) together. Taxact 2011 free edition Add this total to the total undistributed regular contributions made in prior years. Taxact 2011 free edition Add all conversion and rollover contributions made during the year together. Taxact 2011 free edition For purposes of the ordering rules, in the case of any conversion or rollover in which the conversion or rollover distribution is made in 2013 and the conversion or rollover contribution is made in 2014, treat the conversion or rollover contribution as contributed before any other conversion or rollover contributions made in 2014. Taxact 2011 free edition Add any recharacterized contributions that end up in a Roth IRA to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Taxact 2011 free edition   Disregard any recharacterized contribution that ends up in an IRA other than a Roth IRA for the purpose of grouping (aggregating) both contributions and distributions. Taxact 2011 free edition Also disregard any amount withdrawn to correct an excess contribution (including the earnings withdrawn) for this purpose. Taxact 2011 free edition Example. Taxact 2011 free edition On October 15, 2009, Justin converted all $80,000 in his traditional IRA to his Roth IRA. Taxact 2011 free edition His Forms 8606 from prior years show that $20,000 of the amount converted is his basis. Taxact 2011 free edition Justin included $60,000 ($80,000 − $20,000) in his gross income. Taxact 2011 free edition On February 23, 2013, Justin made a regular contribution of $5,000 to a Roth IRA. Taxact 2011 free edition On November 8, 2013, at age 60, Justin took a $7,000 distribution from his Roth IRA. Taxact 2011 free edition The first $5,000 of the distribution is a return of Justin's regular contribution and is not includible in his income. Taxact 2011 free edition The next $2,000 of the distribution is not includible in income because it was included previously. Taxact 2011 free edition Figuring your recapture amount. Taxact 2011 free edition   If you had an early distribution from your Roth IRAs in 2013, you must allocate the early distribution by using the Recapture Amount—Allocation Chart, later. Taxact 2011 free edition Recapture Amount—Allocation Chart Enter the amount from your 2013 Form 8606, line 19   Before you begin: You will need your prior year Form(s) 8606 and income tax return(s) if you entered an amount on any line(s) as indicated below. Taxact 2011 free edition   You will now allocate the amount you entered above (2013 Form 8606, line 19) in the order shown, to the amounts on the lines listed below (to the extent a prior year distribution was not allocable to the amount). Taxact 2011 free edition The maximum amount you can enter on each line below is the amount entered on the referenced lines of the form for that year. Taxact 2011 free edition Note. Taxact 2011 free edition Once you have allocated the full amount from your 2013 Form 8606, line 19, STOP. Taxact 2011 free edition See the Example , earlier. Taxact 2011 free edition Tax Year Your Form 2013 Form 8606, line 20   Form 8606, line 22   1998 Form 8606, line 16   Form 8606, line 15   1999 Form 8606, line 16   Form 8606, line 15   2000 Form 8606, line 16   Form 8606, line 15   2001 Form 8606, line 18   Form 8606, line 17   2002 Form 8606, line 18   Form 8606, line 17   2003 Form 8606, line 18   Form 8606, line 17   2004 Form 8606, line 18   Form 8606, line 17   2005 Form 8606, line 18   Form 8606, line 17   2006 Form 8606, line 18   Form 8606, line 17   2007 Form 8606, line 18   Form 8606, line 17   2008 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2009 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2010 Form 8606, lines 18 and 23   Form 8606, lines 17 and 22   2011 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2012 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 25       *Only include those amounts rolled over to a Roth IRA. Taxact 2011 free edition  **Only include any contributions (usually Form 1099-R, box 5) that were taxable to you when made and rolled over to a Roth IRA. Taxact 2011 free edition Amount to include on Form 5329, line 1. Taxact 2011 free edition   Include on line 1 of your 2013 Form 5329 the following four amounts from the Recapture Amount—Allocation Chart that you filled out. Taxact 2011 free edition The amount you allocated to line 20 of your 2013 Form 8606. Taxact 2011 free edition The amount(s) allocated to your 2009 through 2013 Forms 8606, line 18, and your 2010 Form 8606, line 23. Taxact 2011 free edition The amount(s) allocated to your 2009, 2011, 2012, and 2013 Forms 1040, line 16b; Forms 1040A, line 12b; and Forms 1040NR, line 17b. Taxact 2011 free edition The amount from your 2013 Form 8606, line 25. Taxact 2011 free edition   Also, include any amount you allocated to line 20 of your 2013 Form 8606 on your 2013 Form 5329, line 2, and enter exception number 09. Taxact 2011 free edition Example. Taxact 2011 free edition Ishmael, age 32, opened a Roth IRA in 2000. Taxact 2011 free edition He made the maximum contributions to it every year. Taxact 2011 free edition In addition, he made the following transactions into his Roth IRA. Taxact 2011 free edition In 2005, he converted $10,000 from his traditional IRA into his Roth IRA. Taxact 2011 free edition He filled out a 2005 Form 8606 and attached it with his 2005 Form 1040. Taxact 2011 free edition He entered $0 on line 17 of Form 8606 because he took a deduction for all the contributions to the traditional IRA, therefore he has no basis. Taxact 2011 free edition He entered $10,000 on line 18 of Form 8606. Taxact 2011 free edition In 2011, he rolled over the entire balance of his qualified retirement plan, $20,000, into a Roth IRA when he changed jobs. Taxact 2011 free edition He used a 2011 Form 1040 to file his taxes. Taxact 2011 free edition He entered $20,000 on line 16a of Form 1040 because that was the amount reported in box 1 of his 2011 Form 1099-R. Taxact 2011 free edition Box 5 of his 2011 Form 1099-R reported $0 since he did not make any after-tax contributions to the qualified retirement plan. Taxact 2011 free edition He entered $20,000 on line 16b of Form 1040 since that is the taxable amount that was rolled over in 2011. Taxact 2011 free edition The total balance in his Roth IRA as of January 1, 2013 was $105,000 ($50,000 in contributions from 2000 through 2012 + $10,000 from the 2005 conversion + $20,000 from the 2011 rollover + $25,000 from earnings). Taxact 2011 free edition He has not taken any early distribution from his Roth IRA before 2013. Taxact 2011 free edition In 2013, he made the maximum contribution of $5,500 to his Roth IRA. Taxact 2011 free edition In August of 2013, he took a $85,500 early distribution from his Roth IRA to use as a down payment on the purchase of his first home. Taxact 2011 free edition See his filled out Illustrated Recapture Amount—Allocation Chart, later, to see how he allocated the amounts from the above transactions. Taxact 2011 free edition Based on his allocation, he would enter $20,000 on his 2013 Form 5329, line 1 (see Amount to include on Form 5329, line 1 , above). Taxact 2011 free edition He should also report $10,000 on his 2013 Form 5329, line 2, and enter exception 09 since that amount is not subject to the 10% additional tax on early distributions. Taxact 2011 free edition Illustrated Recapture Amount—Allocation Chart Enter the amount from your 2013 Form 8606, line 19 $85,500 Before you begin: You will need your prior year Form(s) 8606 and income tax return(s) if you entered an amount on any line(s) as indicated below. Taxact 2011 free edition   You will now allocate the amount you entered above (2013 Form 8606, line 19) in the order shown, to the amounts on the lines listed below (to the extent a prior year distribution was not allocable to the amount). Taxact 2011 free edition The maximum amount you can enter on each line below is the amount entered on the referenced lines of the form for that year. Taxact 2011 free edition Note. Taxact 2011 free edition Once you have allocated the full amount from your 2013 Form 8606, line 19, STOP. Taxact 2011 free edition See the Example , earlier. Taxact 2011 free edition Tax Year Your Form 2013 Form 8606, line 20 $10,000 Form 8606, line 22 $55,500 1998 Form 8606, line 16   Form 8606, line 15   1999 Form 8606, line 16   Form 8606, line 15   2000 Form 8606, line 16   Form 8606, line 15   2001 Form 8606, line 18   Form 8606, line 17   2002 Form 8606, line 18   Form 8606, line 17   2003 Form 8606, line 18   Form 8606, line 17   2004 Form 8606, line 18   Form 8606, line 17   2005 Form 8606, line 18 $10,000 Form 8606, line 17 $-0- 2006 Form 8606, line 18   Form 8606, line 17   2007 Form 8606, line 18   Form 8606, line 17   2008 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2009 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2010 Form 8606, lines 18 and 23   Form 8606, lines 17 and 22   2011 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b* $10,000 Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2012 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 25       *Only include those amounts rolled over to a Roth IRA. Taxact 2011 free edition  **Only include any contributions (usually Form 1099-R, box 5) that were taxable to you when made and rolled over to a Roth IRA. Taxact 2011 free edition How Do You Figure the Taxable Part? To figure the taxable part of a distribution that is not a qualified distribution, complete Form 8606, Part III. Taxact 2011 free edition Must You Withdraw or Use Assets? You are not required to take distributions from your Roth IRA at any age. Taxact 2011 free edition The minimum distribution rules that apply to traditional IRAs do not apply to Roth IRAs while the owner is alive. Taxact 2011 free edition However, after the death of a Roth IRA owner, certain of the minimum distribution rules that apply to traditional IRAs also apply to Roth IRAs as explained later under Distributions After Owner's Death . Taxact 2011 free edition Minimum distributions. Taxact 2011 free edition   You cannot use your Roth IRA to satisfy minimum distribution requirements for your traditional IRA. Taxact 2011 free edition Nor can you use distributions from traditional IRAs for required distributions from Roth IRAs. Taxact 2011 free edition See Distributions to beneficiaries , later. Taxact 2011 free edition Recognizing Losses on Investments If you have a loss on your Roth IRA investment, you can recognize the loss on your income tax return, but only when all the amounts in all of your Roth IRA accounts have been distributed to you and the total distributions are less than your unrecovered basis. Taxact 2011 free edition Your basis is the total amount of contributions in your Roth IRAs. Taxact 2011 free edition You claim the loss as a miscellaneous itemized deduction, subject to the 2%-of-adjusted-gross-income limit that applies to certain miscellaneous itemized deductions on Schedule A (Form 1040). Taxact 2011 free edition Any such losses are added back to taxable income for purposes of calculating the alternative minimum tax. Taxact 2011 free edition Distributions After Owner's Death If a Roth IRA owner dies, the minimum distribution rules that apply to traditional IRAs apply to Roth IRAs as though the Roth IRA owner died before his or her required beginning date. Taxact 2011 free edition See When Can You Withdraw or Use Assets? in chapter 1. Taxact 2011 free edition Distributions to beneficiaries. Taxact 2011 free edition   Generally, the entire interest in the Roth IRA must be distributed by the end of the fifth calendar year after the year of the owner's death unless the interest is payable to a designated beneficiary over the life or life expectancy of the designated beneficiary. Taxact 2011 free edition (See When Must You Withdraw Assets? (Required Minimum Distributions) in chapter 1. Taxact 2011 free edition )   If paid as an annuity, the entire interest must be payable over a period not greater than the designated beneficiary's life expectancy and distributions must begin before the end of the calendar year following the year of death. Taxact 2011 free edition Distributions from another Roth IRA cannot be substituted for these distributions unless the other Roth IRA was inherited from the same decedent. Taxact 2011 free edition   If the sole beneficiary is the spouse, he or she can either delay distributions until the decedent would have reached age 70½ or treat the Roth IRA as his or her own. Taxact 2011 free edition Combining with other Roth IRAs. Taxact 2011 free edition   A beneficiary can combine an inherited Roth IRA with another Roth IRA maintained by the beneficiary only if the beneficiary either: Inherited the other Roth IRA from the same decedent, or Was the spouse of the decedent and the sole beneficiary of the Roth IRA and elects to treat it as his or her own IRA. Taxact 2011 free edition Distributions that are not qualified distributions. Taxact 2011 free edition   If a distribution to a beneficiary is not a qualified distribution, it is generally includible in the beneficiary's gross income in the same manner as it would have been included in the owner's income had it been distributed to the IRA owner when he or she was alive. Taxact 2011 free edition   If the owner of a Roth IRA dies before the end of: The 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for the owner's benefit, or The 5-year period starting with the year of a conversion contribution from a traditional IRA or a rollover from a qualified retirement plan to a Roth IRA, each type of contribution is divided among multiple beneficiaries according to the pro-rata share of each. Taxact 2011 free edition See Ordering Rules for Distributions , earlier in this chapter under Are Distributions Taxable. Taxact 2011 free edition Example. Taxact 2011 free edition When Ms. Taxact 2011 free edition Hibbard died in 2013, her Roth IRA contained regular contributions of $4,000, a conversion contribution of $10,000 that was made in 2009, and earnings of $2,000. Taxact 2011 free edition No distributions had been made from her IRA. Taxact 2011 free edition She had no basis in the conversion contribution in 2009. Taxact 2011 free edition When she established this Roth IRA (her first) in 2009, she named each of her four children as equal beneficiaries. Taxact 2011 free edition Each child will receive one-fourth of each type of contribution and one-fourth of the earnings. Taxact 2011 free edition An immediate distribution of $4,000 to each child will be treated as $1,000 from regular contributions, $2,500 from conversion contributions, and $500 from earnings. Taxact 2011 free edition In this case, because the distributions are made before the end of the applicable 5-year period for a qualified distribution, each beneficiary includes $500 in income for 2013. Taxact 2011 free edition The 10% additional tax on early distributions does not apply because the distribution was made to the beneficiaries as a result of the death of the IRA owner. Taxact 2011 free edition If distributions from an inherited Roth IRA are less than the required minimum distribution for the year, discussed in chapter 1 under When Must You Withdraw Assets? (Required Minimum Distributions), you may have to pay a 50% excise tax for that year on the amount not distributed as required. Taxact 2011 free edition For the tax on excess accumulations (insufficient distributions), see Excess Accumulations (Insufficient Distributions) under What Acts Result in Penalties or Additional Taxes? in chapter 1. Taxact 2011 free edition If this applies to you, substitute “Roth IRA” for “traditional IRA” in that discussion. Taxact 2011 free edition Prev  Up  Next   Home   More Online Publications
Español

Family

Find resources to help your family.


  • Parents
    Find health, education, safety, child care, and other resources for parents.
  • Seniors
    Get government resources for seniors on money, housing, health, consumer protection, and more.
  • Caregivers
    Assistance for those who care for a loved one.
  • Grandparents Raising Grandchildren
    Find grandparent programs in your state and get information about benefits, assistance, and more.
  • Persons with Disabilities
    Information about benefits, education, employment, health, housing, and more.
  • Teens
    Get resources on driving, managing money, working, and more.
  • Kids
    Information for kids in grades K-8 and teachers.

The Taxact 2011 Free Edition

Taxact 2011 free edition 11. Taxact 2011 free edition   Beneficios del Seguro Social y Beneficios Equivalentes de la Jubilación para Empleados Ferroviarios Table of Contents Introduction Useful Items - You may want to see: ¿Está Sujeta a Impuestos Alguna Parte de los Beneficios? Cómo Declarar los Beneficios¿Cuánto Está Sujeto a Impuestos? Ejemplos Deducciones Relacionadas con los BeneficiosReintegros Superiores a los Beneficios Brutos Introduction Este capítulo explica las reglas del impuesto federal sobre el ingreso para los beneficios del Seguro Social y beneficios equivalentes de la jubilación para empleados ferroviarios de nivel 1. Taxact 2011 free edition Explica los siguientes temas: Cómo determinar si los beneficios están sujetos a impuestos. Taxact 2011 free edition Cómo usar la hoja de trabajo de beneficios del Seguro Social (con ejemplos). Taxact 2011 free edition Cómo declarar los beneficios sujetos a impuestos. Taxact 2011 free edition Cómo tratar reintegros superiores a los beneficios recibidos durante el año. Taxact 2011 free edition Los beneficios del Seguro Social incluyen los beneficios mensuales de jubilación, para el sobreviviente y de incapacidad. Taxact 2011 free edition Éstos no incluyen pagos del Supplemental Security Income (Ingreso de seguridad suplementario o SSI, por sus siglas en inglés), los cuales no están sujetos a impuestos. Taxact 2011 free edition Los beneficios equivalentes de la jubilación de empleados ferroviarios de nivel 1 son la parte de los beneficios de nivel 1 que un empleado ferroviario o beneficiario habría tenido derecho a recibir conforme al sistema del Seguro Social. Taxact 2011 free edition Éstos se conocen habitualmente como el Social Security equivalent benefit (beneficio equivalente al Seguro Social o SSEB, por sus siglas en inglés) de los beneficios de nivel 1. Taxact 2011 free edition Si recibió estos beneficios durante el año 2013, debería haber recibido un Formulario SSA-1099, Social Security Benefit Statement (Declaración de beneficios del Seguro Social), en inglés, o un Formulario RRB-1099, Payments by the Railroad Retirement Board (Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés. Taxact 2011 free edition Estos formularios muestran las cantidades recibidas y reintegradas y los impuestos retenidos durante el año. Taxact 2011 free edition Tal vez reciba más de uno de estos formularios para el mismo año. Taxact 2011 free edition Debe sumar las cantidades que aparezcan en todos los Formularios SSA-1099 y los Formularios RRB-1099 que reciba para el año para determinar las cantidades totales recibidas y reintegradas, y los impuestos retenidos durante ese año. Taxact 2011 free edition Consulte el Appendix (Apéndice) al final de la Publicación 915, Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de jubilación para empleados ferroviarios), en inglés, para más información. Taxact 2011 free edition Nota: El uso del término “beneficios” en este capítulo corresponde tanto a los beneficios del Seguro Social como a la parte del SSEB de los beneficios de jubilación de empleados ferroviarios de nivel 1. Taxact 2011 free edition Lo que no cubre este capítulo. Taxact 2011 free edition   Este capítulo no cubre las reglas tributarias para los siguientes beneficios de jubilación de empleados ferroviarios: Parte de los beneficios no equivalentes al Seguro Social (NSSEB, por sus siglas en inglés) de los beneficios de nivel 1. Taxact 2011 free edition Beneficios de nivel 2. Taxact 2011 free edition Beneficios dobles adquiridos. Taxact 2011 free edition Beneficios suplementarios de anualidad. Taxact 2011 free edition Para obtener información acerca de estos beneficios, consulte la Publicación 575, Pension and Annuity Income (Ingresos de pensiones y anualidades), en inglés. Taxact 2011 free edition   Este capítulo no cubre las reglas tributarias para los beneficios del Seguro Social declarados en el Formulario SSA-1042S, Social Security Benefit Statement (Declaración de beneficios del Seguro Social), o Formulario RRB-1042S, Statement for Nonresident Alien Recipients of: Payments by the Railroad Retirement Board (Declaración para destinatarios extranjeros no residentes de: Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés. Taxact 2011 free edition Para información sobre estos beneficios, vea la Publicación 519, U. Taxact 2011 free edition S. Taxact 2011 free edition Tax Guide for Aliens (Guía sobre los impuestos estadounidenses para extranjeros), en inglés, y la Publicación 915, en inglés. Taxact 2011 free edition   Este capítulo tampoco cubre las reglas tributarias sobre los beneficios extranjeros del Seguro Social. Taxact 2011 free edition Estos beneficios están sujetos a impuestos como anualidades, a menos que estén exentos de impuestos estadounidenses o sean tratados como beneficios del Seguro Social estadounidense conforme a un tratado tributario. Taxact 2011 free edition Useful Items - You may want to see: Publicación 505 Tax Withholding and Estimated Tax (Retención del impuesto e impuesto estimado), en inglés 575 Pension and Annuity Income (Ingresos de pensiones y anualidades), en inglés 590 Individual Retirement Arrangements (IRAs) (Arreglos de ahorros para la jubilación (Arreglos IRA)), en inglés 915 Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de jubilación para empleados ferroviarios), en inglés Formularios (e Instrucciones) 1040-ES Estimated Tax for Individuals (Impuesto estimado para las personas físicas), en inglés SSA-1099 Social Security Benefit Statement (Declaración de beneficios del Seguro Social), en inglés RRB-1099 Payments by the Railroad Retirement Board (Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés W-4V Voluntary Withholding Request (Solicitud de retención voluntaria), en inglés ¿Está Sujeta a Impuestos Alguna Parte de los Beneficios? Para saber si alguna parte de los beneficios puede estar sujeta a impuestos, compare la cantidad base de su estado civil para efectos de la declaración con el total de: La mitad de los beneficios, más Todos los demás ingresos, incluidos los intereses exentos de impuestos. Taxact 2011 free edition Al hacer esta comparación, no reste de los demás ingresos ninguna de las siguientes exclusiones: Intereses sobre bonos de ahorros estadounidenses calificados; Beneficios por adopción proporcionados por el empleador; Ingresos devengados en el extranjero o vivienda en el extranjero ni Ingresos devengados por residentes bona fide de la Samoa Estadounidense o Puerto Rico. Taxact 2011 free edition Beneficios por hijos. Taxact 2011 free edition   Las reglas en este capítulo corresponden a beneficios recibidos por hijos. Taxact 2011 free edition Vea A quién se le cobran impuestos , más adelante. Taxact 2011 free edition Cómo calcular el ingreso total. Taxact 2011 free edition   Para calcular el total de la mitad de los beneficios más otros ingresos, use la Hoja de Trabajo 11-1 que aparece más adelante en este capítulo. Taxact 2011 free edition Si el total es mayor que la cantidad base, es posible que parte de los beneficios esté sujeta a impuestos. Taxact 2011 free edition    Si es casado y presenta una declaración conjunta para el año 2013, usted y su cónyuge tienen que sumar sus ingresos y beneficios para calcular si alguna parte de la suma de éstos está sujeta a impuestos. Taxact 2011 free edition Aun si su cónyuge no recibió beneficios, tiene que sumar el ingreso de su cónyuge al suyo para calcular si alguna parte de los beneficios está sujeta a impuestos. Taxact 2011 free edition    Si el único ingreso que recibió durante el año 2013 fue del Seguro Social o la parte del SSEB de los beneficios de jubilación para empleados ferroviarios de nivel 1, los beneficios no están, por lo general, sujetos a impuestos y probablemente no tenga que presentar una declaración. Taxact 2011 free edition Si tiene ingresos además de beneficios, tal vez tenga que presentar una declaración aun si ninguna parte de los beneficios está sujeta a impuestos. Taxact 2011 free edition Cantidad base. Taxact 2011 free edition   La cantidad base es: $25,000 si es soltero, cabeza de familia o viudo que reúne los requisitos; $25,000 si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013; $32,000 si es casado que presenta una declaración conjunta o $-0- si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento durante el año 2013. Taxact 2011 free edition Hoja de Trabajo 11-1. Taxact 2011 free edition    Puede usar la Hoja de Trabajo 11-1 para calcular la cantidad de ingresos y compararla con la cantidad base. Taxact 2011 free edition Ésta es una manera rápida de averiguar si alguna parte de sus beneficios está sujeta a impuestos. Taxact 2011 free edition Hoja de Trabajo 11-1. Taxact 2011 free edition Una Manera Rápida de Averiguar si sus Beneficios Podrían Estar Sujetos a Impuestos A. Taxact 2011 free edition Anote la cantidad del recuadro 5 de todos los Formularios SSA-1099 y RRB-1099. Taxact 2011 free edition Incluya la cantidad total de los pagos de beneficios en suma global recibidos en el año 2013, para el año 2013 y años anteriores. Taxact 2011 free edition Si recibió más de un formulario, sume las cantidades del recuadro 5 y anote el total. Taxact 2011 free edition A. Taxact 2011 free edition   Nota: Si la cantidad de la línea A es cero o menos, deténgase aquí; ninguna parte de los beneficios está sujeta a impuestos este año. Taxact 2011 free edition B. Taxact 2011 free edition Anote la mitad de la cantidad de la línea A B. Taxact 2011 free edition   C. Taxact 2011 free edition Anote las pensiones, salarios, intereses, dividendos y otros ingresos sujetos a impuestos C. Taxact 2011 free edition   D. Taxact 2011 free edition Anote todos los ingresos de intereses exentos de impuestos (como intereses de bonos municipales) más toda exclusión de los ingresos (enumerados anteriormente) . Taxact 2011 free edition D. Taxact 2011 free edition   E. Taxact 2011 free edition Sume las líneas B, C y D E. Taxact 2011 free edition   Nota: Compare la cantidad de la línea E con la cantidad base correspondiente a su estado civil para efectos de la declaración. Taxact 2011 free edition Si la cantidad de la línea E es igual o menor que la cantidad base correspondiente a su estado civil, ninguna parte de sus beneficios está sujeta a impuestos este año. Taxact 2011 free edition Si la cantidad de la línea E es mayor que la cantidad base, alguna parte de sus beneficios podría estar sujeta a impuestos. Taxact 2011 free edition Tiene que completar la Hoja de Trabajo 1 de la Publicación 915, en inglés (o la Social Security Benefits Worksheet (Hoja de trabajo para beneficios del Seguro Social) de las instrucciones del formulario para la declaración de impuestos que usted presenta). Taxact 2011 free edition Si ninguna parte de los beneficios está sujeta a impuestos, pero igual tiene que presentar una declaración, vea más adelante Beneficios no sujetos a impuestos , bajo Cómo Declarar los Beneficios. Taxact 2011 free edition Ejemplo. Taxact 2011 free edition Usted y su cónyuge (ambos mayores de 65 años de edad) presentan una declaración conjunta para el año 2013 y ambos recibieron beneficios del Seguro Social durante el año. Taxact 2011 free edition En enero del año 2014, usted recibió un Formulario SSA-1099 que muestra beneficios netos de $7,500 en el recuadro 5. Taxact 2011 free edition Su cónyuge recibió un Formulario SSA-1099 que muestra beneficios netos de $3,500 en el recuadro 5. Taxact 2011 free edition Además, usted recibió una pensión sujeta a impuestos de $22,800 e ingresos de intereses de $500. Taxact 2011 free edition No tuvo ningún ingreso de intereses exentos de impuestos. Taxact 2011 free edition Sus beneficios no están sujetos a impuestos para el año 2013 debido a que su ingreso, según lo calculado en la Hoja de Trabajo 11-1 completada, no es mayor que la cantidad base ($32,000) para una persona casada que presenta una declaración conjunta. Taxact 2011 free edition Aunque ninguna cantidad de sus beneficios está sujeta a impuestos, usted tiene que presentar una declaración para el año 2013 debido a que su ingreso bruto sujeto a impuestos ($23,300) excede de la cantidad mínima requerida para la presentación de la declaración correspondiente a su estado civil para efectos de la declaración. Taxact 2011 free edition Hoja de Trabajo 11-1 completada. Taxact 2011 free edition Una Manera Rápida de Averiguar si sus Beneficios Podrían Estar Sujetos a Impuestos A. Taxact 2011 free edition Anote la cantidad del recuadro 5 de todos los Formularios SSA-1099 y RRB-1099. Taxact 2011 free edition Incluya la cantidad total de los pagos de beneficios en suma global recibidos en el año 2013, para el año 2013 y años anteriores. Taxact 2011 free edition Si recibió más de un formulario, sume las cantidades del recuadro 5 y anote el total. Taxact 2011 free edition A. Taxact 2011 free edition $ 11,000 Nota: Si la cantidad de la línea A es cero o menos, deténgase aquí; ninguna parte de los beneficios está sujeta a impuestos este año. Taxact 2011 free edition B. Taxact 2011 free edition Anote la mitad de la cantidad de la línea A B. Taxact 2011 free edition 5,500 C. Taxact 2011 free edition Anote las pensiones, salarios, intereses, dividendos y otros ingresos sujetos a impuestos C. Taxact 2011 free edition 23,300 D. Taxact 2011 free edition Anote todos los ingresos de intereses exentos de impuestos (como intereses de bonos municipales) más toda exclusión de los ingresos (enumerados anteriormente). Taxact 2011 free edition D. Taxact 2011 free edition -0- E. Taxact 2011 free edition Sume las líneas B, C y D E. Taxact 2011 free edition $28,800 Nota: Compare la cantidad de la línea E con la cantidad base correspondiente a su estado civil para efectos de la declaración. Taxact 2011 free edition Si la cantidad de la línea E es igual o menor que la cantidad base correspondiente a su estado civil, ninguna parte de sus beneficios está sujeta a impuestos este año. Taxact 2011 free edition Si la cantidad de la línea E es mayor que la cantidad base, alguna parte de sus beneficios podría estar sujeta a impuestos. Taxact 2011 free edition Tiene que completar la Hoja de Trabajo 1 de la Publicación 915, en inglés (o la Social Security Benefits Worksheet (Hoja de trabajo para beneficios del Seguro Social) de las instrucciones del formulario para la declaración de impuestos que usted presenta). Taxact 2011 free edition Si ninguna parte de los beneficios está sujeta a impuestos, pero igual tiene que presentar una declaración, vea más adelante Beneficios no sujetos a impuestos , bajo Cómo Declarar los Beneficios. Taxact 2011 free edition A quién se le cobran impuestos. Taxact 2011 free edition   Los beneficios se incluyen en los ingresos sujetos a impuestos (según estén sujetos a impuestos) de la persona que tiene derecho legal a recibirlos. Taxact 2011 free edition Por ejemplo, si usted y su hijo reciben beneficios, pero el cheque de su hijo está a nombre de usted, tiene que usar sólo la parte de los beneficios que le corresponde a usted para ver si alguna parte de los beneficios en su caso está sujeta a impuestos. Taxact 2011 free edition La mitad de la parte correspondiente a su hijo tiene que sumarse a los demás ingresos de su hijo para saber si alguna parte de esos beneficios está sujeta a impuestos para su hijo. Taxact 2011 free edition Reintegro de beneficios. Taxact 2011 free edition   Todo reintegro de beneficios que usted haya hecho durante el año 2013 tiene que restarse de los beneficios brutos que recibió en el año 2013. Taxact 2011 free edition No importa si el reintegro fue por beneficios recibidos en el año 2013 o en un año anterior. Taxact 2011 free edition Si el reintegro fue mayor que los beneficios brutos recibidos en el año 2013, consulte Reintegros Superiores a los Beneficios Brutos , más adelante. Taxact 2011 free edition   Los beneficios brutos aparecen en el recuadro 3 del Formulario SSA-1099 o RRB-1099. Taxact 2011 free edition Los reintegros aparecen en el recuadro 4. Taxact 2011 free edition La cantidad del recuadro 5 muestra los beneficios netos del año 2013 (recuadro 3 menos recuadro 4). Taxact 2011 free edition Use la cantidad del recuadro 5 para calcular si alguna parte de sus beneficios está sujeta a impuestos. Taxact 2011 free edition Retención de impuestos e impuesto estimado. Taxact 2011 free edition   Puede optar por que se haga la retención del impuesto federal sobre el ingreso de sus beneficios del Seguro Social y/o de la parte del SSEB de sus beneficios de jubilación para empleados ferroviarios de nivel 1. Taxact 2011 free edition Si opta por hacerlo, tiene que completar un Formulario W-4V. Taxact 2011 free edition   Si opta por no hacer la retención del impuesto sobre el ingreso, tal vez tenga que solicitar la retención adicional de otros ingresos o pagar un impuesto estimado durante el año. Taxact 2011 free edition Para más detalles, consulte la Publicación 505 o las instrucciones para el Formulario 1040-ES, ambas en inglés. Taxact 2011 free edition Cómo Declarar los Beneficios Si parte de sus beneficios está sujeta a impuestos, tiene que usar el Formulario 1040 o el Formulario 1040A. Taxact 2011 free edition No puede usar el Formulario 1040EZ. Taxact 2011 free edition Cómo hacer la declaración en el Formulario 1040. Taxact 2011 free edition   Declare los beneficios netos (la cantidad total del recuadro 5 de todos los Formularios SSA-1099 y de los Formularios RRB-1099) en la línea 20a y la parte sujeta a impuestos en la línea 20b. Taxact 2011 free edition Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a. Taxact 2011 free edition Cómo hacer la declaración en el Formulario 1040A. Taxact 2011 free edition   Declare los beneficios netos (la cantidad total del recuadro 5 de todos los Formularios SSA-1099 y de los Formularios RRB-1099) en la línea 14a y la parte sujeta a impuestos en la línea 14b. Taxact 2011 free edition Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 14a. Taxact 2011 free edition Beneficios no sujetos a impuestos. Taxact 2011 free edition   Si presenta el Formulario 1040EZ, no declare beneficios en su declaración de impuestos. Taxact 2011 free edition Si presenta el Formulario 1040 o Formulario 1040A, declare sus beneficios netos (la cantidad total del recuadro 5 de todos sus Formularios SSA-1099 y Formularios RRB-1099) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Taxact 2011 free edition Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Taxact 2011 free edition Si es casado que presenta la declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Taxact 2011 free edition ¿Cuánto Está Sujeto a Impuestos? Si parte de sus beneficios está sujeta a impuestos, dicha cantidad depende de la cantidad total de los beneficios y otros ingresos. Taxact 2011 free edition Normalmente, cuanto más alta sea esa cantidad total, mayor es la parte sujeta a impuestos de los beneficios. Taxact 2011 free edition Máxima parte sujeta a impuestos. Taxact 2011 free edition   Por lo general, hasta el 50% de los beneficios están sujetos a impuestos. Taxact 2011 free edition Sin embargo, hasta el 85% de los beneficios pueden estar sujetos a impuestos si en su caso se da alguna de las siguientes situaciones: El total de la mitad de los beneficios más todos los demás ingresos es mayor de $34,000 ($44,000 si es casado que presenta una declaración conjunta). Taxact 2011 free edition Es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento durante el año 2013. Taxact 2011 free edition Qué hoja de trabajo debe usar. Taxact 2011 free edition   En las instrucciones del Formulario 1040 o del Formulario 1040A hay una hoja de trabajo para calcular los beneficios sujetos a impuestos. Taxact 2011 free edition Puede usar esa hoja de trabajo o la Hoja de Trabajo 1 de la Publicación 915, en inglés, a menos que alguna de las siguientes situaciones corresponda a su caso: Hizo aportaciones a un arreglo de ahorros para la jubilación (IRA, por sus siglas en inglés) tradicional y usted o su cónyuge está cubierto por un plan de jubilación del trabajo. Taxact 2011 free edition En esta situación, usted tiene que usar las hojas de trabajo especiales del Appendix (Apéndice) B de la Publicación 590, en inglés, para calcular la deducción por un arreglo IRA y los beneficios sujetos a impuestos. Taxact 2011 free edition La situación (1) no le corresponde y usted declara una exclusión por intereses sobre los bonos de ahorros estadounidenses calificados (Formulario 8815), beneficios por adopción (Formulario 8839), ingresos devengados en el extranjero o vivienda en el extranjero (Formulario 2555 o Formulario 2555-EZ), o ingresos devengados en la Samoa Estadounidense (Formulario 4563) o Puerto Rico declarados por residentes bona fide. Taxact 2011 free edition En esta situación, se tiene que usar la Hoja de Trabajo 1 de la Publicación 915, en inglés, para calcular los beneficios sujetos a impuestos. Taxact 2011 free edition Recibió un pago de suma global por un año anterior. Taxact 2011 free edition En esta situación, complete además la Hoja de Trabajo 2 ó 3 y la Hoja de Trabajo 4 de la Publicación 915, en inglés. Taxact 2011 free edition Consulte Elección de suma global , tema que aparece a continuación. Taxact 2011 free edition Elección de suma global. Taxact 2011 free edition   Tiene que incluir la parte sujeta a impuestos de un pago de suma global (retroactivo) de beneficios recibidos en el año 2013 en los ingresos del año 2013, aun si el pago incluye beneficios de un año anterior. Taxact 2011 free edition    Este pago global de beneficios no debe confundirse con el pago global de beneficios por fallecimiento que la SSA y la RRB pagan a muchos de sus beneficiarios. Taxact 2011 free edition Ninguna parte del pago global de beneficios por fallecimiento está sujeta a impuestos. Taxact 2011 free edition   Generalmente, se usa el ingreso del año 2013 para calcular la parte sujeta a impuestos del total de beneficios recibidos en el año 2013. Taxact 2011 free edition Sin embargo, tal vez pueda calcular la parte sujeta a impuestos de un pago de suma global de un año anterior por separado, mediante el uso del ingreso del año anterior. Taxact 2011 free edition Puede optar por este método si eso reduce los beneficios sujetos a impuestos. Taxact 2011 free edition Cómo elegir su opción. Taxact 2011 free edition   Si recibió un pago global de beneficios en el año 2013 que incluya beneficios de uno o más años anteriores, siga las instrucciones de la Publicación 915 bajo Lump-Sum Election (Elección de suma global) para saber si dicha elección reducirá sus beneficios sujetos a impuestos. Taxact 2011 free edition Ese análisis también explica cómo elegir la opción que le sea de mayor beneficio. Taxact 2011 free edition    Debido a que los beneficios sujetos a impuestos de ese año anterior se incluyen en el ingreso del año 2013, no es necesario realizar ningún ajuste en la declaración del año anterior. Taxact 2011 free edition No presente una declaración enmendada del año anterior. Taxact 2011 free edition Ejemplos Los siguientes son algunos ejemplos que puede usar como guía para calcular la parte sujeta a impuestos de sus beneficios. Taxact 2011 free edition Ejemplo 1. Taxact 2011 free edition Jorge Blanco es soltero y presenta el Formulario 1040 para el año 2013. Taxact 2011 free edition Jorge recibió los siguientes ingresos en el año 2013: Pensión íntegramente sujeta a impuestos $18,600 Salario de trabajo a tiempo parcial 9,400 Ingreso de intereses sujeto a impuestos 990 Total $28,990 Además, Jorge recibió beneficios del Seguro Social durante el año 2013. Taxact 2011 free edition El Formulario SSA-1099 que recibió en enero del año 2014 muestra $5,980 en el recuadro 5. Taxact 2011 free edition Para calcular sus beneficios sujetos a impuestos, Jorge completa la hoja de trabajo que aparece aquí. Taxact 2011 free edition Hoja de Trabajo 1 completada. Taxact 2011 free edition Cómo Calcular los Beneficios Sujetos a Impuestos 1. Taxact 2011 free edition Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. Taxact 2011 free edition Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Taxact 2011 free edition $5,980 2. Taxact 2011 free edition Anote la mitad de la línea 1. Taxact 2011 free edition 2,990 3. Taxact 2011 free edition Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b, 17 a 19 y 21. Taxact 2011 free edition     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 28,990 4. Taxact 2011 free edition Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. Taxact 2011 free edition -0- 5. Taxact 2011 free edition Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico . Taxact 2011 free edition . Taxact 2011 free edition -0- 6. Taxact 2011 free edition Sume las líneas 2, 3, 4 y 5 31,980 7. Taxact 2011 free edition Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040 y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. Taxact 2011 free edition     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. Taxact 2011 free edition -0- 8. Taxact 2011 free edition ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. Taxact 2011 free edition Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. Taxact 2011 free edition Anote -0- en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Taxact 2011 free edition   Sí. Taxact 2011 free edition Reste la línea 7 de la línea 6 31,980 9. Taxact 2011 free edition Si es: Casado que presenta una declaración conjunta, anote $32,000. Taxact 2011 free edition Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. Taxact 2011 free edition 25,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. Taxact 2011 free edition 85) y anote el resultado en la línea 17. Taxact 2011 free edition Luego, pase a la línea 18. Taxact 2011 free edition   10. Taxact 2011 free edition ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. Taxact 2011 free edition Ninguna parte de los beneficios está sujeta a impuestos. Taxact 2011 free edition Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Taxact 2011 free edition Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. Taxact 2011 free edition     Sí. Taxact 2011 free edition Reste la línea 9 de la línea 8 6,980 11. Taxact 2011 free edition Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. Taxact 2011 free edition 9,000 12. Taxact 2011 free edition Reste la línea 11 de la línea 10. Taxact 2011 free edition Si el resultado es cero o menos, anote “-0-”. Taxact 2011 free edition -0- 13. Taxact 2011 free edition De las líneas 10 y 11, anote la que sea menor 6,980 14. Taxact 2011 free edition Anote la mitad de la línea 13. Taxact 2011 free edition 3,490 15. Taxact 2011 free edition De las líneas 2 y 14, anote la que sea menor 2,990 16. Taxact 2011 free edition Multiplique la línea 12 por 85% (0. Taxact 2011 free edition 85). Taxact 2011 free edition Si la línea 12 es cero, anote “-0-”. Taxact 2011 free edition -0- 17. Taxact 2011 free edition Sume las líneas 15 y 16. Taxact 2011 free edition 2,990 18. Taxact 2011 free edition Multiplique la línea 1 por 85% (0. Taxact 2011 free edition 85). Taxact 2011 free edition 5,083 19. Taxact 2011 free edition Beneficios sujetos a impuestos. Taxact 2011 free edition De las líneas 17 y 18, anote la que sea menor. Taxact 2011 free edition Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. Taxact 2011 free edition $2,990       La cantidad de la línea 19 de la hoja de trabajo de Jorge muestra que $2,990 de sus beneficios del Seguro Social están sujetos a impuestos. Taxact 2011 free edition En la línea 20a de su Formulario 1040, Jorge anota sus beneficios netos de $5,980. Taxact 2011 free edition En la línea 20b, anota beneficios sujetos a impuestos de $2,990. Taxact 2011 free edition   Ejemplo 2. Taxact 2011 free edition Raimundo y Alicia García presentan una declaración conjunta en el Formulario 1040A para el año 2013. Taxact 2011 free edition Raimundo está jubilado y recibió una pensión íntegramente sujeta a impuestos de $15,500. Taxact 2011 free edition Además, recibió beneficios del Seguro Social y su Formulario SSA-1099 para el año 2013 muestra beneficios netos de $5,600 en el recuadro 5. Taxact 2011 free edition Alicia trabajó durante el año y tuvo un salario de $14,000. Taxact 2011 free edition Ella efectuó un pago deducible a su arreglo IRA de $1,000. Taxact 2011 free edition Raimundo y Alicia tienen dos cuentas de ahorros con un total de $250 de ingresos de intereses sujetos a impuestos. Taxact 2011 free edition Ellos completan la Hoja de Trabajo 1, anotando $29,750 ($15,500 + $14,000 + $250) en la línea 3. Taxact 2011 free edition Ellos descubren que ninguna parte de los beneficios del Seguro Social de Raimundo está sujeta a impuestos. Taxact 2011 free edition En el Formulario 1040A, anotan $5,600 en la línea 14a y “-0-” en la línea 14b. Taxact 2011 free edition Hoja de Trabajo 1 completada. Taxact 2011 free edition Cómo Calcular los Beneficios Sujetos a Impuestos 1. Taxact 2011 free edition Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. Taxact 2011 free edition Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Taxact 2011 free edition $5,600 2. Taxact 2011 free edition Anote la mitad de la línea 1. Taxact 2011 free edition 2,800 3. Taxact 2011 free edition Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b,17 a 19 y 21. Taxact 2011 free edition     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 29,750 4. Taxact 2011 free edition Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. Taxact 2011 free edition -0- 5. Taxact 2011 free edition Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico -0- 6. Taxact 2011 free edition Sume las líneas 2, 3, 4 y 5 32,550 7. Taxact 2011 free edition Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040 y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. Taxact 2011 free edition     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. Taxact 2011 free edition 1,000 8. Taxact 2011 free edition ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. Taxact 2011 free edition Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. Taxact 2011 free edition Anote -0- en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Taxact 2011 free edition   Sí. Taxact 2011 free edition Reste la línea 7 de la línea 6 31,550 9. Taxact 2011 free edition Si es: Casado que presenta una declaración conjunta, anote $32,000. Taxact 2011 free edition Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. Taxact 2011 free edition 32,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. Taxact 2011 free edition 85) y anote el resultado en la línea 17. Taxact 2011 free edition Luego, pase a la línea 18. Taxact 2011 free edition   10. Taxact 2011 free edition ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. Taxact 2011 free edition Ninguna parte de los beneficios está sujeta a impuestos. Taxact 2011 free edition Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Taxact 2011 free edition Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. Taxact 2011 free edition     Sí. Taxact 2011 free edition Reste la línea 9 de la línea 8   11. Taxact 2011 free edition Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. Taxact 2011 free edition   12. Taxact 2011 free edition Reste la línea 11 de la línea 10. Taxact 2011 free edition Si el resultado es cero o menos, anote “-0-”. Taxact 2011 free edition   13. Taxact 2011 free edition De las líneas 10 y 11, anote la que sea menor   14. Taxact 2011 free edition Anote la mitad de la línea 13. Taxact 2011 free edition   15. Taxact 2011 free edition De las líneas 2 y 14, anote la que sea menor   16. Taxact 2011 free edition Multiplique la línea 12 por 85% (0. Taxact 2011 free edition 85). Taxact 2011 free edition Si la línea 12 es cero, anote “-0-”. Taxact 2011 free edition   17. Taxact 2011 free edition Sume las líneas 15 y 16. Taxact 2011 free edition   18. Taxact 2011 free edition Multiplique la línea 1 por 85% (0. Taxact 2011 free edition 85). Taxact 2011 free edition   19. Taxact 2011 free edition Beneficios sujetos a impuestos. Taxact 2011 free edition De las líneas 17 y 18, anote la que sea menor. Taxact 2011 free edition Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. Taxact 2011 free edition   Ejemplo 3. Taxact 2011 free edition José y Beatriz Pérez presentan una declaración conjunta en el Formulario 1040 del año 2013. Taxact 2011 free edition José es empleado ferroviario jubilado y en el año 2013 recibió la parte de beneficios equivalentes del Seguro Social (SSEB, por sus siglas en inglés) de los beneficios de jubilación para empleados ferroviarios de nivel 1. Taxact 2011 free edition El Formulario RRB-1099 de José muestra $10,000 en el recuadro 5. Taxact 2011 free edition Beatriz es funcionaria del gobierno jubilada y recibe una pensión íntegramente sujeta a impuestos de $38,000. Taxact 2011 free edition Ellos tuvieron $2,300 de ingresos de intereses sujetos a impuestos más $200 de intereses sobre bonos de ahorros estadounidenses calificados. Taxact 2011 free edition Los intereses sobre bonos de ahorros cumplieron las condiciones de la exclusión. Taxact 2011 free edition Calculan sus beneficios sujetos a impuestos completando la Hoja de Trabajo 1. Taxact 2011 free edition Ya que han recibido intereses sobre bonos de ahorros estadounidenses calificados, siguen las instrucciones en la primera parte de la hoja de trabajo y, en la línea 3 de la misma, anotan la cantidad de la línea 2 del Anexo B (Formulario 1040A o del Formulario 1040) en vez de anotar la cantidad de la línea 8a del Formulario 1040. Taxact 2011 free edition En la línea 3 de la hoja de trabajo, anotan $40,500 ($38,000 + $2,500). Taxact 2011 free edition Hoja de Trabajo 1 completada. Taxact 2011 free edition Cómo Calcular los Beneficios Sujetos a Impuestos Tenga en cuenta los siguientes puntos antes de completar esta hoja de trabajo: • Si es casado que presenta una declaración por separado y no vivió con su cónyuge durante todo el año 2013, anote “D” a la derecha de la palabra “benefits” (beneficios) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Taxact 2011 free edition • No utilice esta hoja de trabajo si reintegró beneficios en el año 2013 y el total de estos reintegros (el recuadro 4 de los Formularios SSA-1099 y RRB-1099) era mayor que los beneficios brutos que recibió para el año 2013 (el recuadro 3 de los Formularios SSA-1099 y RRB-1099). Taxact 2011 free edition Ninguna parte de los beneficios está sujeta a impuestos para el año 2013. Taxact 2011 free edition Para información adicional, vea Reintegros Superiores a los Beneficios Brutos . Taxact 2011 free edition • Si presenta el Formulario 8815, Exclusion of Interest From Series EE and I U. Taxact 2011 free edition S. Taxact 2011 free edition Savings Bonds Issued After 1989 (Exclusión de los intereses provenientes de los bonos de ahorros estadounidenses calificados de las series EE e I emitidos después de 1989), no anote en la línea 3 de esta hoja de trabajo la cantidad de la línea 8a del Formulario 1040 o de la línea 3 del Formulario 1040A. Taxact 2011 free edition En lugar de ello, anote la cantidad de la línea 2 del Anexo B del Formulario 1040A o Formulario 1040. Taxact 2011 free edition       1. Taxact 2011 free edition Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. Taxact 2011 free edition Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Taxact 2011 free edition $10,000 2. Taxact 2011 free edition Anote la mitad de la línea 1. Taxact 2011 free edition 5,000 3. Taxact 2011 free edition Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b, 17 a 19 y 21. Taxact 2011 free edition     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 40,500 4. Taxact 2011 free edition Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. Taxact 2011 free edition -0- 5. Taxact 2011 free edition Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico . Taxact 2011 free edition . Taxact 2011 free edition -0- 6. Taxact 2011 free edition Sume las líneas 2, 3, 4 y 5 45,500 7. Taxact 2011 free edition Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040, y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. Taxact 2011 free edition     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. Taxact 2011 free edition -0- 8. Taxact 2011 free edition ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. Taxact 2011 free edition Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. Taxact 2011 free edition Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Taxact 2011 free edition   Sí. Taxact 2011 free edition Reste la línea 7 de la línea 6 45,500 9. Taxact 2011 free edition Si es: Casado que presenta una declaración conjunta, anote $32,000. Taxact 2011 free edition Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. Taxact 2011 free edition 32,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. Taxact 2011 free edition 85) y anote el resultado en la línea 17. Taxact 2011 free edition Luego, pase a la línea 18. Taxact 2011 free edition   10. Taxact 2011 free edition ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. Taxact 2011 free edition Ninguna parte de los beneficios está sujeta a impuestos. Taxact 2011 free edition Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Taxact 2011 free edition Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. Taxact 2011 free edition     Sí. Taxact 2011 free edition Reste la línea 9 de la línea 8 13,500 11. Taxact 2011 free edition Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. Taxact 2011 free edition 12,000 12. Taxact 2011 free edition Reste la línea 11 de la línea 10. Taxact 2011 free edition Si el resultado es cero o menos, anote “-0-”. Taxact 2011 free edition 1,500 13. Taxact 2011 free edition De las líneas 10 y 11, anote la que sea menor 12,000 14. Taxact 2011 free edition Anote la mitad de la línea 13. Taxact 2011 free edition 6,000 15. Taxact 2011 free edition De las líneas 2 y 14, anote la que sea menor 5,000 16. Taxact 2011 free edition Multiplique la línea 12 por 85% (0. Taxact 2011 free edition 85). Taxact 2011 free edition Si la línea 12 es cero, anote “-0-”. Taxact 2011 free edition 1,275 17. Taxact 2011 free edition Sume las líneas 15 y 16. Taxact 2011 free edition 6,275 18. Taxact 2011 free edition Multiplique la línea 1 por 85% (0. Taxact 2011 free edition 85). Taxact 2011 free edition 8,500 19. Taxact 2011 free edition Beneficios sujetos a impuestos. Taxact 2011 free edition De las líneas 17 y 18, anote la que sea menor. Taxact 2011 free edition Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. Taxact 2011 free edition $6,275 Más del 50% de los beneficios netos de José están sujetos a impuestos debido a que el ingreso de la línea 8 de la hoja de trabajo ($45,500) es mayor que $44,000. Taxact 2011 free edition José y Beatriz anotan $10,000 en la línea 20a del Formulario 1040 y $6,275 en la línea 20b del Formulario 1040. Taxact 2011 free edition Deducciones Relacionadas con los Beneficios Tal vez tenga derecho a deducir ciertas cantidades relacionadas con los beneficios que reciba. Taxact 2011 free edition Pagos por incapacidad. Taxact 2011 free edition   Tal vez haya recibido pagos por incapacidad de su empleador o de una compañía de seguros que usted incluyó como ingresos en la declaración de impuestos de algún año anterior. Taxact 2011 free edition Si recibió un pago de suma global de la SSA o de la RRB, y tuvo que reintegrar al empleador o compañía de seguros los pagos por incapacidad, puede declarar una deducción detallada por la parte de los pagos que incluyó en los ingresos brutos de ese año anterior. Taxact 2011 free edition Si la cantidad que reintegra es más de $3,000, tal vez pueda reclamar un crédito tributario en su lugar. Taxact 2011 free edition Declare la deducción o crédito de la misma manera que se explica bajo Reintegros Superiores a los Beneficios Brutos , más adelante. Taxact 2011 free edition Gastos por asuntos legales. Taxact 2011 free edition   Normalmente se pueden deducir gastos por asuntos legales pagados, o en los que haya incurrido, para producir o cobrar ingresos sujetos a impuestos o relacionados con la determinación, el cobro o el reembolso de algún impuesto. Taxact 2011 free edition   Los gastos por asuntos legales por el cobro de la parte sujeta a impuestos de sus beneficios son deducibles como una deducción miscelánea detallada en la línea 23 del Anexo A (Formulario 1040). Taxact 2011 free edition Reintegros Superiores a los Beneficios Brutos En algunas situaciones, el Formulario SSA-1099 o el Formulario RRB-1099 mostrará que el total de los beneficios reintegrados (recuadro 4) es superior a los beneficios brutos (recuadro 3) recibidos. Taxact 2011 free edition Si esto ocurre, los beneficios netos del recuadro 5 serán una cifra negativa (una cifra entre paréntesis) y ninguna parte de los beneficios estará sujeta a impuestos. Taxact 2011 free edition No use una hoja de trabajo en este caso. Taxact 2011 free edition Si recibe más de un formulario, una cifra negativa en el recuadro 5 de un formulario compensa una cifra positiva en el recuadro 5 de otro formulario para ese mismo año. Taxact 2011 free edition Si tiene alguna duda acerca de esta cifra negativa, comuníquese con la oficina local de la SSA o la oficina regional de la RRB. Taxact 2011 free edition Declaración conjunta. Taxact 2011 free edition   Si usted y su cónyuge presentan una declaración conjunta y su Formulario SSA-1099 o RRB-1099 tiene una cifra negativa en el recuadro 5, pero la de su cónyuge no, reste la cantidad del recuadro 5 de su formulario de la cantidad del recuadro 5 del formulario de su cónyuge. Taxact 2011 free edition Esto se hace para obtener los beneficios netos al calcular si está sujeta a impuestos la suma de sus beneficios y los de su cónyuge. Taxact 2011 free edition Ejemplo. Taxact 2011 free edition Juan y María presentan una declaración conjunta para el año 2013. Taxact 2011 free edition Juan recibió el Formulario SSA-1099 que muestra $3,000 en el recuadro 5. Taxact 2011 free edition María también recibió el Formulario SSA-1099 y la cantidad en el recuadro 5 fue ($500). Taxact 2011 free edition Juan y María anotarán $2,500 ($3,000 menos $500) en concepto de beneficios netos al calcular si alguna parte de la suma de sus beneficios está sujeta a impuestos. Taxact 2011 free edition Reintegro de beneficios recibidos en un año anterior. Taxact 2011 free edition   Si la cantidad total que aparece en el recuadro 5 de todos los Formularios SSA-1099 y RRB-1099 es una cifra negativa, puede declarar una deducción detallada por la parte de esta cifra negativa que representa los beneficios que usted incluyó en el ingreso bruto de un año anterior. Taxact 2011 free edition Deducción de $3,000 o menos. Taxact 2011 free edition   Si esta deducción es $3,000 o menos, está sujeta al límite del 2% del ingreso bruto ajustado que corresponde a ciertas deducciones misceláneas detalladas. Taxact 2011 free edition Reclámela en la línea 23 del Anexo A (Formulario 1040). Taxact 2011 free edition Deducción de más de $3,000. Taxact 2011 free edition    Si esta deducción es superior a $3,000, usted debe calcular el impuesto de dos maneras: Calcule el impuesto para el año 2013 con la deducción detallada incluida en la línea 28 del Anexo A. Taxact 2011 free edition Calcule el impuesto para el año 2013 en los pasos siguientes: Calcule el impuesto sin la deducción detallada incluida en la línea 28 del Anexo A. Taxact 2011 free edition Para cada año después de 1983 para el cual una parte de la cifra negativa representa un reintegro de beneficios, vuelva a calcular los beneficios sujetos a impuestos como si el total de éstos para el año hubiera sido reducido por aquella parte de la cifra negativa. Taxact 2011 free edition Luego, vuelva a calcular el impuesto para ese año. Taxact 2011 free edition Reste el total de las cantidades de impuestos recalculadas en el apartado (b) del total de las cantidades de impuestos reales. Taxact 2011 free edition Reste el resultado del apartado (c) del resultado del apartado (a). Taxact 2011 free edition Compare el impuesto calculado con los métodos (1) y (2). Taxact 2011 free edition Su impuesto para el año 2013 es la menor de las dos cantidades. Taxact 2011 free edition Si el método (1) genera menos impuestos, declare la deducción detallada en la línea 28 del Anexo A (Formulario 1040). Taxact 2011 free edition Si el método (2) genera menos impuestos, tome un crédito por la cantidad del paso 2(c), indicado anteriormente, en la línea 71 del Formulario 1040. Taxact 2011 free edition Marque el recuadro d y escriba “ I. Taxact 2011 free edition R. Taxact 2011 free edition C. Taxact 2011 free edition 1341 ” en el espacio al lado de ese recuadro. Taxact 2011 free edition Si ambos métodos generan el mismo impuesto, deduzca el reintegro de la línea 28 del Anexo A (Formulario 1040). Taxact 2011 free edition Prev  Up  Next   Home   More Online Publications