.256 Form 1040 is the main form of your tax return.
.257 Miscellaneous income such as jury duty fees, hobby income, amounts recovered on expenses deducted in previous years. Do not include prizes, awards, gambling winnings or income from self employment.
.258 A payment to you to replace your regular wages while you are temporarily absent from work due to sickness or personal injury. This does not usually include Workers' Compensation, Accident and Health Insurance Benefits, or Compensatory Damages.
.259 Winnings from gambling and cash or fair market value of property received as a prize in a television or radio quiz program, beauty contest or lottery.
.260 Refund of state or local taxes which you deducted as an itemized deduction in a prior year. If you did not itemize and take a deduction for state and local taxes last year, you do not need to report the refund as income.
.261 Alimony payments received from a former spouse. Do not include child support payments since they are not considered taxable income.
.479 Payments received as Unemployment Compensation from federal or state sources is taxable on your federal tax return.
.262 The maximum contribution to a qualified IRA is $2,000 per year if you have at least $2,000 in taxable compensation. If covered by a company retirement plan, your deductible contribution could be limited or eliminated.
.481 Maximum deductible contribution made by your spouse to a qualified IRA of $2,000 per year if he/she has at least $2,000 in taxable compensation. If covered by a company retirement plan, the deductible contribution could be limited or eliminated.
.263 Contributions made to a H.R.10 (Keogh) Plan set up by a sole proprietor or a partnership. Depending on the type of plan, the deduction limit for a self-employed person is generally the smaller of $30,000 or a percentage of taxable compensation.
.516 Spouse contributions to a H.R.10 (Keogh) Plan set up by a sole proprietor or partnership. Depending on the type of plan, the deduction limit for a self-employed person is generally the smaller of $30,000 or a percentage of taxable compensation.
.517 Contributions made to a simplified employee pension plan (SEP) set up by a sole proprietor or partnership. The deduction limit for a self-employed person is the lesser of $30,000 or a percentage of taxable compensation.
.518 Spouse contributions made to a simplified employee pension plan (SEP) set up by a sole proprietor or partnership. The deduction limit for a self-employed person is the lesser of $30,000 or a percentage of taxable compensation.
.264 Alimony payments paid to a former spouse. Do not include child support payments since they are not deductible.
.265 The penalty charged to withdraw funds from a time savings account before maturity. Do not reduce total interest earned on that account by the penalty amount. You may deduct the entire penalty even if it exceeds your interest income.
.266 Net Social Security benefits you receive reported on Form SSA-1099. A maximum of 85% of benefits may be taxable if income exceeds $44,000 for married filing joint; $34,000 for all others except $0 if married separate AND you lived together this year.
.267 Amounts received from your employer to reimburse you for qualified moving expenses. Under new law, reimbursements may be excludable from taxable income. Do not include here if reimbursements are already included in your wages.
.521 The quarterly payments you make to the IRS to cover the estimated tax due on income that is not subject to withholding (e.g., self-employment income, unemployment compensation, gains from sales of assets).
.269 The most common taxable fringe benefits are the value of your personal use of a company-provided car or a membership in a country or health club. Generally, your employer determines the amount of fringe benefits and includes it in your wages.
.482 The total combined contribution you can make each year to a qualified IRA on a joint return, when one spouse does not work, is $2,250. Divide contributions between your and the spousal IRA any way you choose, but not more than $2,000 to either IRA.
.483 Net Social Security benefits your spouse receives reported on Form SSA-1099. A maximum of 85% of benefits may be taxable if income exceeds $44,000 for married joint; $34,000 for all others except $0 if married separate AND you lived together this year.
.519 The portion of tier 1 railroad retirement benefits which is equivalent to Social Security benefits is reported on Form RRB-1099. These benefits are subject to the same computation as Social Security benefits to determine the taxable amount.
.520 Spouse's portion of tier 1 railroad retirement benefits which is equivalent to Social Security benefits is reported on Form RRB-1099. These benefits are subject to the same computation as Social Security benefits to determine the taxable amount.
.270 Schedule A is used to report your itemized deductions.
.271 Amounts paid for subscriptions to magazines or services that are directly related to the production or collection of taxable income. (e.g., subscriptions to investment publications, stock newsletters, etc.).
.272 Gambling losses are deductible as a miscellaneous deduction which is not subject to the 2% of AGI limitation. However, you can only deduct your gambling losses to the extent of gambling winnings you report as Other Income on Form 1040.
.273 Amounts you pay for medicines and drugs that require a prescription by a doctor for yourself, spouse, children, or other qualifying dependent. Do not include the cost of over-the-counter medicines such as aspirin, cold remedies, vitamins.
.274 Amounts paid for transportation and lodging primarily for, and essential to, medical care provided by a doctor. Include mileage to and from doctor; taxi, ambulance; plane fare and lodging ($50 per night max, per eligible person) to obtain medical care.
.275 State income taxes withheld from your salary this year. Also include state income taxes you paid this year for a prior year.
.544 Local income taxes withheld from your salary this year. Also include local income taxes you paid this year for a prior year.
.276 State, local or foreign taxes paid on real property. Taxes must be based on the assessed value of the real property. Do not include taxes charged for local benefits and improvements that increase the value of the property (assessments for streets,etc.).
.535 Taxes based on the value of the personal property and charged on a yearly basis. Most common is the auto registration fees charged by the DMV. All or part of the fee that represents a charge based on the value of the vehicle is deductible.
.277 Other taxes paid which were not included under real estate or personal property taxes above. Example: foreign income and excess profits taxes. (These can be claimed as an itemized deduction or a credit against tax. Be sure to compare the tax savings.)
.280 Donations by cash or check to religious, charitable, educational, scientific, literary, or philanthropic organizations. Obtain a written receipt from the charity when donating more than $250 at one time; a canceled check is not sufficient.
.485 The fair market value (FMV) of property donated to a charitable organization. If you donate used clothing, furniture, or appliances, the FMV is usually much less than your original cost.
.281 Fees paid to a tax professional to prepare your federal and state tax returns. These fees can also include the cost of tax preparation software programs and tax publications. Include any fee you paid for electronic filing of your return.
.282 Investment expenses are deductible as a miscellaneous deduction. These include investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income.
.283 Interest (or qualifying points) paid on a loan secured by your main home or a second home, including a mortgage, a second mortgage, a line of credit, and a home equity loan. Payments are reported to you on Form 1098, Mortgage Interest Statement.
.284 If the loan is used to buy or improve your main home, you may be able to deduct the points in one year. However, points paid to refinance your existing home loan must be deducted over the loan's life. Use this line for points not reported on Form 1098.
.484 Medical service fees paid to doctors, dentists, surgeons; the cost of hospitalization, and any related fees (lab work, therapy, etc.). Only deduct actual out-of-pocket expenses less reimbursements. Also include medical insurance premiums you paid.
.486 Examples: cost/upkeep of uniforms worn as a condition of employment, not worn away from work; union dues; job search expenses; education expenses; professional journal subscriptions. You may need to complete Form 2106, Employee Business Expenses.
.523 Other miscellaneous itemized deductions that are not reduced by 2% of adjusted gross income, such as federal estate tax on income in respect to a decedent, unrecovered investment in a pension, impairment-related work expenses of a disabled person.
.522 The quarterly payments you make to your state taxing authority to cover the estimated tax due on income that is not subject to withholding (e.g., self-employment income, gains from sales of assets).
.545 Interest you pay on a loan secured by your main home or a second home, but not paid to a financial institution or not reported to you on federal Form 1098.
.285 Schedule B is used to report your interest and dividend income.
.524 Interest you receive on a take-back mortgage or other form of seller-financing that resulted from the sale of your home or other property. The buyer used the property as a personal residence.
.286 Ordinary (taxable) dividends are the most common type of distribution from a corporation. They are reported to you on a 1099-DIV. Do not include capital gain distributions or nontaxable dividends here.
.287 Taxable interest includes interest you receive from bank accounts, credit unions, loans you made to others. Assign interest from U.S. obligations such as Treasury bills, notes, and bonds to the tax line 'US govt interest'.
.288 Interest on U.S. obligations, such as U.S. Treasury bills, notes, and bonds issued by any agency or instrumentality of the United States are taxable on your federal return. This income is exempt from all state and local income taxes.
.289 Generally, you do not pay federal income tax on interest on bonds or notes of states, counties, the District of Columbia, or possessions of the United States. These amounts may be taxable by your state. Report nontaxable interest on Schedule B.
.290 Interest income from a qualified tax-exempt private activity bond is not taxable if it meets all requirements. This income is included on your Schedule B as nontaxable interest income.
.487 Mutual funds pay shareholders several kinds of dividends. Refer to your monthly statements or Form 1099-DIV for the amount of non-taxable dividends paid to you.
.488 These distributions represent your share of the fund's long-term profits on sales of securities and are taxable income. Your monthly statements or Form 1099-DIV should designate which dividends are capital gain distributions.
.489 Non-taxable interest income other than from bonds or notes of states, counties, the District of Columbia, or a possession of the United States, or from a qualified private activity bond.
.490 Interest income that is taxed on your federal return, but not on your state income tax return - other than interest paid on U.S. obligations.
.491 Interest income that is not taxed on your federal return, but is taxed on your state income tax return - other than interest income from state bonds or notes, the District of Columbia, or a possession of the United States.
.492 Generally, part of the original issue discount (OID) on these bonds must be reported as interest income each year you hold the bond. The issuer of the bond will make the OID computation and report it on Form 1099-OID.
.291 Schedule C is used to report income from self-employment. Use a separate Schedule C to report income and expenses from different businesses.
.293 Gross receipts or sales from your business before deducting adjustments for returns and allowances and cost of goods sold.
.294 Ordinary and necessary business-related meal and entertainment expenses to entertain a client, customer, or employee. 50% of these expenses are deductible. This area is closely scrutinized by the IRS. Refer to IRS Pub 463. Keep excellent records.
.493 A manufacturer or producer includes the cost of all raw materials or parts purchased for manufacture into a finished product. A resaler includes all merchandise bought for sale. Do not include merchandise you withdrew for personal use.
.494 If you are a manufacturer or producer, include the cost of labor directly involved with manufacturing the finished product. Do not include amounts paid to yourself as salary or draw.
.495 If you are a manufacturer or producer, include the cost of materials and supplies that are used in manufacturing the goods, but not the raw materials for the product. Examples would be hardware, chemicals, etc.
.496 These are any other costs directly related to creating the salable product. This could include the costs for containers, freight-in, overhead expenses, packaging.
.296 Credits you allow customers for returned merchandise and any other allowances you make on sales. These are deducted only if they were originally included in income.
.297 Ordinary and necessary salaries, wages, and other compensation for services you pay to employees who are directly connected to your trade or business. Do not include amounts paid to yourself as salary or draw.
.298 Ordinary and necessary fees (e.g., accountant's fees, licenses) which are directly related to your trade or business. Legal fees you paid to acquire business assets are added to the basis of the property and recovered using depreciation or amortization.
.299 Rent you pay to lease vehicles, machinery or equipment used in your trade or business. If you lease a car for 30 days or more for use in your business, read the IRS publications 535 and 917 for more information.
.300 Lease payments for real estate or property (office, building, warehouse) used in your trade or business. Advance lease payments which cover more than a year must be prorated. Taxes you pay on leased property are deductible.
.301 The cost of incidental materials and supplies (such as cleaning fluids, small tools, wrapping materials, etc.) used in your trade or business during the tax year.
.302 The cost of other expenses directly related to your trade or business that may not be applicable to the other tax lines of the Schedule C (e.g., dues and subscriptions, credit and collections costs, samples, bank and credit card fees).
.303 Miscellaneous income related to your trade or business that is not included in gross receipts (e.g., bad debts you recovered, scrap sales, interest on notes or accounts receivable). Interest earned on business bank accounts is included on Schedule B.
.304 Reasonable costs of advertising your trade or business in newspapers, publications, radio or television. Also include cost of brochures, business cards, or other promotional materials. Do not include advertising costs incurred to influence legislation.
.305 In order to take a bad debt deduction, you must show there was a true debtor-creditor relationship between you and the person who owes you money, the payments were previously included in income, the debt is worthless and steps were taken to collect.
.306 Include the business portion of car or truck gas/oil, repairs, insurance, interest, taxes, tires, etc. Your tax software should compare these actual expenses to the standard mileage rate and calculate the larger allowable deduction.
.307 Fees or commissions paid to independent contractors (nonemployees) for services. Do not include any amounts already included as part of cost of goods sold. Remember to file Form 1099-MISC if you paid $600 or more to any individual during the tax year.
.308 Fringe benefit programs you provide for your employees, such as accident or health plans; disability or wage continuation plans; medical or dental reimbursement plans; child care benefits. Do not include amounts paid for your own benefits.
.309 The only properties subject to depletion are oil or gas wells, exhaustible natural deposits and timber. This is a deduction for the amount the natural resource decreases annually over its productive life.
.310 Premiums paid to protect the business against losses by fire, accident, theft, errors and omissions, malpractice, liability, business interruption. Deduct advance payments over the term covered by the policy, whether you are on cash or accrual.
.311 Interest paid to a financial institution on real property used in your business for which you receive a Form 1098. If the interest is paid in advance, only the portion that applies to the current tax year may be deducted.
.312 Other interest paid on business indebtedness which is not mortgage interest paid to a financial institution. Include interest on loans to purchase the business. Only the portion of advance interest that applies to the current tax year is deductible.
.313 The cost of consumable office supplies such as stationery, pens, pencils, computer supplies, etc. Include cost of postage stamps, business cards, UPS and federal express charges, rental of postal box or postage machines.
.314 Amounts paid as contributions to a qualified pension, profit-sharing, or annuity plan for your employees. Amounts you contribute for yourself are included under Form 1040, Keogh Deduction.
.315 Costs incurred to maintain business property in ordinary and efficient operating condition. Include parts and labor. If repairs materially add to the value of the property or prolong its life, deduct the costs over a period of time as depreciation.
.316 Real estate and personal property taxes imposed on business property. Include your share of employment taxes paid on behalf of your employees, business licenses, sales permits, Public Utility Commission (PUC) licenses, etc.
.317 Ordinary and necessary business expenses for travel away from your tax home. Do not include meals and entertainment here. Include transportation between your home and business destination, lodging, taxi, tips, cleaning and laundry, etc.
.318 The costs you pay to heat, light, and power your business property. Include also telephone charges for monthly service and long distance business calls .
.320 Schedule D is used to report gains and losses from the sale of capital assets. If you received capital gain dividends, use the capital gain dividend category found under Schedule B.
.321 Short-term gain or loss from the sale of a security. If you use the Investment Tracking that is available in Quicken, you should not need to assign any of your categories to this tax line.
.323 Long-term gain or loss from the sale of a security. If you use the Investment Tracking that is available in Quicken, you should not need to assign any of your categories to this tax line.
.325 Schedule E is used to report income or loss from rental real estate, royalties, and residual interest in REMIC's. Use a different copy number for each rental or royalty. Use the Schedule K-1 categories below for partnership rental income and loss amounts.
.326 Payment for the use or occupation of property, including monthly rent for an apartment, house, garage; advance rent; payment for canceling a lease; expenses paid by the tenant. Do not include security deposit until it is forfeited by the tenant.
.327 Royalties received from copyrights, patents, and oil, gas, and mineral properties are included as ordinary income.
.328 Amounts you have paid to advertise your rental unit(s) in newspapers or other media or paid to realtors to obtain tenants.
.329 Car and truck expenses you incur to manage your rental or royalty property. Deduct the business portion of operating your car or truck - gas/oil, repairs, insurance, interest, taxes, tires, etc., or take the standard mileage rate per business mile.
.330 Expenses paid for cleaning services (carpet, drapes), cleaning supplies, pest control, pool service, locks and keys and general cost of upkeep of the rental property.
.331 Commissions paid to realtors or management companies to collect rent. However, commissions paid to secure long-term rentals must be deducted over the life of the lease. Do not include salaries paid to employees.
.332 Premiums paid for fire, theft, liability, workers' compensation, business interruption insurance. If your premium pays for insurance which covers more than one year, deduct the part of the premium payment that applies to this year.
.333 Legal and accounting fees that are directly connected to the rental property, including fees for legal advice to evict a tenant, fees paid to a bookkeeper, or tax advice and preparation of tax forms related to your rental real estate or royalty property.
.334 Interest paid to a financial institution for a mortgage on the rental property, reported on Form 1098. Construction period interest must be added to the basis and depreciated. Expenses and fees for securing loans are nondeductible capital expenses.
.335 Interest paid on other indebtedness directly related to the rental property. This could include interest on a loan you took out and used the proceeds for your rental or royalty property.
.336 Incidental repair costs that are ordinary and necessary to maintain the property in safe rentable condition (painting, repairs to roof, plumbing, electricity, etc.). Repairs that increase the value or useful life of the rental property are depreciated.
.337 Items you need to help maintain the property: cleaning supplies, nails, paint brushes, brooms, etc.
.338 Real estate taxes and personal property taxes. Do not include special assessments that are paid for paving, sewer, or local improvements which must be added to the basis. Also include your portion of any payroll taxes you pay for your employees.
.339 The cost of electricity, water, gas, telephone, trash disposal for your rental property that is paid by you.
.341 Other expenses that do not appropriately match the other tax lines on the Schedule E. Examples might include the cost of gardening and/or snow removal services, association dues, bank charges, etc.
.502 The fees you pay to a manager or property management company to oversee your rental or royalty property. Often the fee is a percentage of the gross receipts collected.
.343 Schedule F is used to report farm income and expense. Use a different copy of Schedule F for each farm you own.
.344 Reasonable wages paid for regular farm work, piecework, contract labor and other forms of labor hired to perform your farming operations. Do not include amounts you paid to yourself.
.345 Amounts paid for repairs/maintenance of farm buildings, machinery, equipment. Include tools of short life or minimal cost, such as shovels or rakes. Repairs that increase the value or useful life or adapt the property to a different use are depreciated.
.346 Interest paid to a financial institution on a mortgage on real property used in your farming business. If you paid interest on a debt secured by your main home, and any proceeds from that debt were used in your farming operation, refer to IRS Pub 225.
.347 Interest paid to a recipient other than a financial institution or on other loans related to the farm. Do not deduct interest you prepaid for later years.
.348 Amounts paid to rent or lease property such as pasture or farm land.
.349 The portion of rental or lease payments for vehicles, machinery, or equipment used for farming. If renting or leasing a vehicle for 30 days or more, refer to IRS Pub 535 for more information.
.350 The cost of feed for your livestock. If you pay in advance for feed your livestock will consume in a later year, refer to IRS Pub 225 to see if you qualify to deduct the total advance fee in the year paid.
.351 The amounts paid for seeds and young plants bought for further development and cultivation before sale.
.352 The cost of lime, fertilizers and other materials applied to farmland to enrich, neutralize or condition it and the costs of applying these materials. Refer to IRS Pub 225 for more information on prepaid farm expenses.
.353 Amounts paid for incidental supplies or small tools having a useful life less than one year used in the farming operation. Other supplies could include stamps, stationery, farm magazines, and similar office supplies.
.355 The costs of veterinary services, medicine and breeding fees are deductible when paid if you use cash basis accounting. If you use the accrual method, capitalize the breeding fees and allocate them to the cost basis of the foal, calf, etc.
.356 The actual costs of gas, oil, repairs, insurance, etc. incurred to operate a truck or car in your farm business. Gas, oil, etc. used in other farm equipment is also deductible.
.357 Amounts paid as rent to store or warehouse crops, grains, etc.
.358 Real estate or personal property taxes paid on farm property such as equipment, animals, buildings, land. Also include your portion employment taxes you pay for employees. Federal highway use tax paid on trucks or truck-tractors is deductible.
.359 Premiums paid for fire, storm, crop, theft and liability protection of farm assets. Do not include amounts credited to a reserve for self-insurance or premiums paid for a policy that pays for your lost earnings due to sickness or disability.
.360 The cost of electricity, water, gas, etc., used in your farming operation. Do not include the cost of utilities for personal use.
.361 Freight costs or the expense of trucking produce or livestock. Do not include freight costs for livestock purchased and held for resale. These costs are added to the basis of the livestock which is used to determine the amount of capital gain or loss.
.362 Costs incurred to conserve soil or water or to prevent erosion of land. These expenses must be consistent with a conservation plan approved by the Soil Conservation Service of the Dept. of Agriculture.
.363 Contributions you have made to any employee pension, profit-sharing, or annuity plan for this farm. Do not include amounts contributed for your own benefits (your SEP or Keogh).
.364 Amounts contributed to fringe benefit programs you provide for your employees - accident or health plans; educational assistance; group-term life insurance, and dependent care assistance programs. Do not include contributions you made on your behalf.
.365 The cost of other expenses directly related to your farm that may not be applicable to the other tax lines of the Schedule F (e.g., dues and subscriptions, advertising, legal and accounting, etc.).
.366 Chemicals used in your farming operation such as insect sprays and dusts.
.367 Amounts you paid for custom hire or machine work (the machine operator furnished the equipment). Do not include amounts paid for rental or lease of equipment you operated yourself.
.368 Amounts you received from the sale of livestock, produce, grains, and other products you raised.
.369 Amounts you received from the sales of livestock and other items you bought specifically for resale. Do not include sales of livestock held for draft, breeding, sport or dairy purposes. These are reported on Form 4797, Sales of Business Property.
.370 The income you receive for work that you or your hired help perform as contract work or custom work done for others, or for the use of your property or machines.
.371 Income in the form of patronage dividends, nonpatronage distributions, per-unit retain allocations, and redemption of nonqualified notices and per-unit retain allocations. These are reported to you on Form 1099-PATR.
.372 Government payments received for price support payments, diversion payments, cost-share payments (sight drafts), payments in the form of materials or services, face value of commodity credit certificates. Usually reported to you on Form 1099-G.
.373 Commodity Credit Corp. loan proceeds are generally not reported as income. If you pledge part/all of your production to secure a CCC loan, you may elect to report loan proceeds as income in the year you receive them instead of the year the crop is sold.
.374 The amount forfeited or repaid with certificates, even if you reported the loan proceeds as income. Refer to IRS Pub 225 for more information on tax consequences of forfeiting CCC loans and repaying CCC loans with certificates.
.375 In general, you must report crop insurance proceeds in the year you receive them. Federal crop disaster payments are treated as crop insurance proceeds.
.376 If this is the year of damage and you received crop insurance proceeds, you may elect to include insurance proceeds in the following year's income. A statement must also be attached to your return. Refer to IRS Pub 225 for more information.
.377 Other farm income may include illegal federal irrigation subsidies, bartering income, debt forgiveness, state gasoline or fuel tax refund, gains from sales of commodity futures contracts, payments for granting easements and right-of-way, etc.
.378 The cost or other basis of the livestock and other items you actually sold.
.543 Include the business portion of car or truck gas/oil, repairs, insurance, interest, taxes, tires, etc. Your tax software should compare these actual expenses to the standard mileage rate and calculate the larger allowable deduction.
.380 Form 2106 is used to deduct employee business expenses. You must file this form if you were reimbursed by your employer or claim job-related travel, transportation, meal, or entertainment expenses. Use a separate Form 2106 for your spouse's expenses.
.381 Cost of tuition, books, fees, transportation if the education is required by your employer or maintains or improves current job skills. Cost of courses preparing you for a new profession or meeting minimum requirements of your job are not deductible.
.382 Operating costs of your business vehicle: gas, oil, tires, repairs, insurance, etc.
.383 Amount of travel expenses incurred while away from your tax home overnight, including lodging, airplane, car rental, etc. Do not include meal and entertainment expenses here.
.384 Amounts for parking fees, tolls, and local transportation costs that are ordinary and necessary for your trade or profession.
.385 Ordinary and necessary business expenses such as business gifts, trade or professional publications.
.386 Ordinary and necessary business-related meals and entertainment, including meals while away from your tax home overnight and local business meals and entertainment expenses. This area is closely scrutinized by IRS. Keep excellent records.
.387 Reimbursement for business expenses from your employer that is NOT included on your Form W-2.
.388 Reimbursement for meal expenses from your employer that is NOT included on your Form W-2.
.389 Expenses incurred in looking for a new job in your present occupation, even if you do not get a new job. Include employment and outplacement agency fees; costs to type, print, and mail copies of your resume; transportation and travel expenses.
.390 Cost and upkeep of work clothes only if you must wear them as a condition of employment AND they are not suitable for everyday wear. The cost of required protective clothing (safety shoes, glasses, boots, hard hats, work gloves) are also deductible.
.391 Business portion of the operating expenses of your home. You must use part of your home regularly and exclusively for business. The use must be for the convenience of the employer and not just helpful in your job. Refer to IRS Pub 587.
.392 Form 2119 is used to report the sale of your personal residence.
.393 The gross sales price of your old home. Generally includes the amount of money you received, plus all notes, mortgages, or other debts that are part of the sale. The total usually reported to you on Form 1099-S, Proceeds from Real Estate Transactions.
.394 The total expenses you paid to sell your old home. These expenses include commissions, advertising, attorney and legal fees, title insurance, transfer and stamp taxes, and recording fees.
.396 Fixing-up expenses (not capital improvements) paid to sell your old home. The work must be done during the 90-day period ending the day you signed the sales contract (not the listing contract) and paid no later than 30 days after the date of sale.
.397 The cost of your new home including cash, the amount of a mortgage or other debt, purchase expenses, the cost of capital improvements incurred within the replacement period (usually from 2 years before to 2 years after the date of sale).
.400 Form 2441 is used to claim a credit for child and dependent care expenses.
.401 The amounts you paid to child care provider(s) to care for your child (under age 13) or qualifying person. This does not include the cost of clothing, entertainment, schooling for a child in the first grade or above, nor expenses for overnight camp.
.402 The cost of services needed to care for the qualifying person as well as to run the home. They include the services of a cook, maid, babysitter, housekeeper, or cleaning person if the services were partly for the care of the qualifying person.
.403 Form 3903 is used to claim moving expenses.
.406 The actual cost to pack, crate and move your household goods and personal effects. You may include the cost to store and insure household goods and personal effects within any period of 30 days in a row after the items were moved from your old home.
.407 The costs of travel from your old home to your new home. Include transportation and lodging but not meals, on the way. Although not all the members of your household have to travel together or at the same time, you may only include expenses for one.
.503 Form 4137 is used to compute Social Security and Medicare tax owed on tips you did not report to your employer.
.505 The amount of tips you did not report to your employer on time or did not report at all.
.412 Form 4684 is used to report gains and losses from casualties and thefts.
.413 The original cost plus the cost of improvements. Refer to IRS Pub 551 for special rules that apply to property received as a gift or by inheritance.
.414 The amount of insurance or other reimbursement you received.
.415 The fair market value (FMV) is the price at which the property would change hands between a willing buyer and seller - neither being compelled to buy or sell. FMV is generally determined by competent appraisal.
.416 The fair market value (FMV) is the price at which the property would change hands between a willing buyer and seller. The FMV after a theft is zero if the property is not recovered. The FMV after a casualty should be determined by competent appraisal.
.425 Form 4952 is used to compute the amount of investment interest expense deductible for the current year and the amount, if any, to carry forward to future years.
.426 Amount of investment interest paid or accrued on a loan allocable to property held for investment (i.e., property that produces income from interest, dividends, annuities, or royalties; gains from disposition of property that produces income).
.427 Form 6252 is used to report income from casual sales of real or personal property when you will receive any payments in a tax year after the year of sale (i.e., installment sale).
.428 Total of any money, face amount of the installment obligation, and the fair market value of other property you receive in exchange for the property sold. Include any existing mortgage or other debt the buyer assumed or took the property subject to.
.429 The amount of mortgages or other debts the buyer assumed or took the property subject to. Do not include a second trust deed taken by the seller or any new mortgages the buyer gets from a bank, from you, or other sources.
.431 All depreciation or amortization you deducted or should have deducted from the date of purchase until date of sale. Include any section 179 expense deduction.
.432 Sales commissions, advertising expenses, attorney and legal fees, escrow fees, title insurance and other selling expenses (usually found on the closing statement) connected with the sale of the property. Do NOT include real estate taxes or interest.
.434 The amount of money you received this year. This includes any down payment as well as the principal portion of any installment payments. Do not include the amount that is interest. (Interest is reported on Schedule B.)
.435 Money and fair market value (FMV) of property you received before this tax year for the sale. FMV is the amount a willing buyer and seller would pay - neither being compelled to buy or sell. IRS Pub 551 has more information on FMV.
.441 Form 8815 is used to compute the amount of interest you may exclude if you cashed series EE U.S. savings bonds this year that were issued after 1989 to pay for qualified higher education costs.
.442 Qualified higher education expenses include only tuition and fees required for enrollment or attendance of the eligible person(s). Do not include room and board.
.443 Nontaxable benefits received, such as scholarship or fellowship grants excludable from income and veterans' and employer-provided educational assistance benefits. Do not include nontaxable benefits paid directly to, or by, the educational institution.
.444 The total proceeds from all series EE U.S. savings bonds issued after 1989 you cashed during this tax year. Include both principal and interest.
.445 The face value of all post-1989 bonds cashed this tax year.
.536 Form 8829 is used only if you file a Schedule C, Profit or Loss from Business, and you meet specific requirements to deduct expenses for the business use of your home. IRS rules are stringent for this deduction. Refer to Publication 587.
.537 Total mortgage interest paid for your home, in which an area or room is used regularly and exclusively for business. Complete Form 8829 to compute the deductible business portion of home mortgage interest.
.538 Total real estate taxes paid for your home, in which an area or room is used regularly and exclusively for business. Complete Form 8829 to compute the deductible business portion of real estate taxes.
.539 Total insurance paid for your home, in which an area or room is used regularly and exclusively for business. Complete Form 8829 to compute the deductible business portion of home insurance.
.540 Total repairs and maintenance paid for your home, in which an area or room is used regularly and exclusively for business. Complete Form 8829 to compute the deductible business portion of home repairs and maintenance.
.541 Total utilities paid for your home, in which an area or room is used regularly and exclusively for business. Complete a Form 8829 to compute the deductible business portion of home utilities.
.542 If you rent rather than own your home, include rent paid for your home, in which an area or room is used regularly and exclusively for business. Complete a Form 8829 to compute the deductible business portion of rent paid.
.446 Schedule K-1 is used to report your share of a partnership's income, credits, deductions, etc. Use a separate copy of Schedule K-1 for each partnership.
.448 Your share of the ordinary income (loss) from the trade or business activities of the partnership. You cannot have a loss greater than your basis in the partnership. This amount is reported to you on line 1 of the Schedule K-1.
.449 The income or (loss) from rental real estate activities engaged in by the partnership. This amount is reported to you on line 2 of the Schedule K-1.
.450 The income or (loss) from rental activities, other than the rental of real estate. This amount is reported to you on line 3 of the Schedule K-1.
.451 The amount of interest income reported to you by the partnership on line 4a of the Schedule K-1.
.452 The amount of dividend income reported to you by the partnership on line 4b of the Schedule K-1.
.527 Your share of the royalty income reported to you by the partnership on line 4c of the Schedule K-1.
.453 The short-term gain or (loss) from sale of assets reported to you by the partnership on line 4d of Schedule K-1.
.454 The long-term gain or (loss) from the sale of assets reported to you by the partnership on line 4e of the Schedule K-1.
.455 A partnership treats payments or credits to a partner for services (or for use of capital) as guaranteed payments. The payments are deductible by the partnership as a business expense and reported to you on line 5 of the Schedule K-1.
.456 The gain or (loss) from sale of Section 1231 assets reported to you on line 6 of the Schedule K-1.
.528 Your share of tax-exempt interest income received or accrued by the partnership reported to you on line 19 of Schedule K-1.
.458 Form W-2 is used by your employer to report the amount of wages and other compensation you earned as an employee, and the amount of federal and state taxes withheld and fringe benefits received. Use a separate copy of Form W-2 for each employer.
.460 The amount of gross wages, tips and other compensation you receive from your employer. (Use the line 'Salary, spouse' below for your spouse's wages.)
.461 The amount of federal income taxes withheld from your wages. (Use the line 'Federal withholding, spouse' below for your spouse's federal tax withholding.)
.462 The amount of social security taxes withheld from your wages. (Use the line 'Soc sec tax withhld, spouse' below for your spouse's social security tax withholding.)
.480 The amount of Medicare taxes withheld from your wages. (Use the line 'Medicare withhold, spouse' below for your spouse's Medicare tax withholding.)
.463 The amount of local taxes withheld from your wages. (Use the line 'Local withhold, spouse' below for your spouse's local tax withholding.)
.464 The amount of state taxes withheld from your wages. (Use the line 'State withhold, spouse' below for your spouse's state tax withholding.)
.465 The amount your employer paid or provided to you or someone else on your behalf for child and dependent care. (Use the line 'Dependent care ben., spouse' below for the dependent care benefits your spouse receives.)
.506 The amount of gross wages, tips and other compensation your spouse receives from his/her employer.
.507 The amount of federal income taxes withheld from your spouse's wages.
.508 The amount of social security taxes withheld from your spouse's wages.
.510 The amount of Medicare taxes withheld from your spouse's wages.
.509 The amount of local taxes withheld from your spouse's wages.
.511 The amount of state taxes withheld from your spouse's wages.
.512 The amount your spouse's employer paid or provided to your spouse or to someone else on his/her behalf for child and dependent care.
.473 Form 1099-R is used to report taxable and nontaxable retirement distributions from retirement, pension, profit-sharing, or annuity plans. Use a separate Form 1099-R for each payer.
.475 The gross amount of a distribution from a qualified pension or annuity plan. Do not include IRA distributions here.
.476 The taxable amount of a distribution from a qualified pension or annuity plan. Do not include IRA distributions here.
.529 The amount of federal income taxes withheld from your pension distribution.
.530 The amount of state income taxes withheld from your pension distribution.
.531 The amount of local income taxes withheld from your pension distribution.
.477 The gross amount of a distribution from a qualified Individual Retirement Arrangement (IRA) plan.
.478 The taxable amount of a distribution from a qualified Individual Retirement Arrangement (IRA) plan.
.532 The amount of federal income taxes withheld from your IRA distribution.
.533 The amount of state income taxes withheld from your IRA distribution.
.534 The amount of local income taxes withheld from your IRA distribution.
