2004 Instructions for Form 1040 (ALL) - Supreme Law Firm

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Form 1040—Lines 14 Through 16b b. Distribution code Q is shown in on Form 1099-R. For details on military Line 14 Form 1099-R, box 7. disability pensions, see Pub. 525. If you 3. You converted part or all of a tradi- received a Form RRB-1099-R, see Other Gains or (Losses) tional, SEP, or SIMPLE IRA to a Roth IRA Pub. 575 to find out how to report your If you sold or exchanged assets used in a in 2004. benefits. trade or business, see the Instructions for 4. You had a 2003 or 2004 IRA contri- Form 4797. Partially Taxable Pensions and bution returned to you, with the related earnings or less any loss, by the due date Annuities (including extensions) of your tax return Enter the total pension or annuity payments Lines 15a and 15b for that year. you received in 2004 on line 16a. If your 5. You made excess contributions to Form 1099-R does not show the taxable IRA Distributions your IRA for an earlier year and had them amount, you must use the General Rule You should receive a Form 1099-R showpart to enter on line 16b. But if your annu- returned to you in 2004. explained in Pub. 939 to figure the taxable ing the amount of any distribution from 6. You recharacterized part or all of a your individual retirement arrangement ity starting date (defined below) was after contribution to a Roth IRA as a traditional (IRA). Unless otherwise noted in the line July 1, 1986, see Simplified Method below IRA contribution, or vice versa. 15a and 15b instructions, an IRA includes a to find out if you must use that method to traditional IRA, Roth IRA, simplified emfigure the taxable part. Note. If you (or your spouse if filing ployee pension (SEP) IRA, and a savings jointly) received more than one distribu- You can ask the IRS to figure the taxincentive match plan for employees tion, figure the taxable amount of each dis- able part for you for a $95 fee. For details, (SIMPLE) IRA. Except as provided below, tribution and enter the total of the taxable see Pub. 939. leave line 15a blank and enter the total dis- amounts on line 15b. Enter the total amount tribution on line 15b. of those distributions on line 15a. If your Form 1099-R shows a taxable Exception 1. Enter the total distribution on You may have to pay an addiline 16b. But you may be able to report a amount, you may report that amount on line 15a if you rolled over part or all of the tional tax if (a) you received an distribution from one: ! early distribution from your lower taxable amount by using the General CAUTION IRA and the total was not rolled Rule or the Simplified Method. • IRA to another IRA of the same type (for example, from one traditional IRA to over, or (b) you were born before July 1, 1933, and received less than the minimum Annuity Starting Date another traditional IRA), or • SEP or SIMPLE IRA to a traditional required distribution from your traditional, Your annuity starting date is the later of the IRA. SEP, and SIMPLE IRAs. See the instruc- first day of the first period for which you tions for line 59 on page 39 for details. received a payment or the date the plan’s Also, put “Rollover” next to line 15b. If obligations became fixed. the total distribution was rolled over in a qualified rollover, enter -0- on line 15b. If Simplified Method the total distribution was not rolled over in Lines 16a and 16b You must use the Simplified Method if eia qualified rollover, enter the part not rolled Pensions and Annuities ther of the following applies. over on line 15b unless Exception 2 applies to the part not rolled over. Generally, a You should receive a Form 1099-R show- 1. Your annuity starting date (defined qualified rollover must be made within 60 ing the amount of your pension and annuity above) was after July 1, 1986, and you used days after the day you received the distribupart. payments. See pages 23 and 24 for details this method last year to figure the taxable tion. For more details on rollovers, see on rollovers and lump-sum distributions. Pub. 590. Do not include the following payments on 2. Your annuity starting date was after lines 16a and 16b. Instead, report them on If you rolled over the distribution (a) in November 18, 1996, and both of the folline 7. 2005, or (b) from an IRA into a qualified lowing apply. plan (other than an IRA), attach a statement • Disability pensions received before a. The payments are from a qualified explaining what you did. you reach the minimum retirement age set employee plan, a qualified employee annuby your employer. ity, or a tax-sheltered annuity. Exception 2. If any of the following apply, • Corrective distributions of excess salb. On your annuity starting date, either enter the total distribution on line 15a and ary deferrals or excess contributions to reyou were under age 75 or the number of see Form 8606 and its instructions to figure tirement plans. the amount to enter on line 15b. years of guaranteed payments was fewer Attach Form(s) 1099-R to than 5. See Pub. 575 for the definition of 1. You received a distribution from an Form 1040 if any federal guaranteed payments. IRA (other than a Roth IRA) and you made TIP income tax was withheld. nondeductible contributions to any of your traditional or SEP IRAs for 2004 or an earcomplete the worksheet on page 23 to fig- If you must use the Simplified Method, lier year. If you made nondeductible contriure the taxable part of your pension or an- Fully Taxable Pensions and butions to these IRAs for 2004, also see Annuities Pub. 590. nuity. For more details on the Simplified If your pension or annuity is fully taxable, Method, see Pub. 575 or Pub. 721 for U.S. 2. You received a distribution from a enter it on line 16b; do not make an entry Civil Service retirement benefits. Roth IRA. But if either (a) or (b) below on line 16a. Your payments are fully taxapplies, enter -0- on line 15b; you do not able if (a) you did not contribute to the cost If you received U.S. Civil Servhave to see Form 8606 or its instructions. (see page 23) of your pension or annuity, or ice retirement benefits and you a. Distribution code T is shown in Form (b) you got your entire cost back tax free ! chose the alternative annuity CAUTION 1099-R, box 7, and you made a contribu- before 2004. option, see Pub. 721 to figure tion (including a conversion) to a Roth IRA Fully taxable pensions and annuities the taxable part of your annuity. Do not use for 1998 or 1999. also include military retirement pay shown the worksheet on page 23. Need more information or forms? See page 7. -22-
Form 1040—Lines 16a and 16b Age (or Combined Ages) at employee who died, see Pub. 575. If there Rollovers Annuity Starting Date is more than one beneficiary, see Pub. 575 Generally, a qualified rollover is a tax-free or Pub. 721 to figure each beneficiary’s If you are the retiree, use your age on the distribution of cash or other assets from one taxable amount. annuity starting date. If you are the survivor retirement plan that is contributed to an- of a retiree, use the retiree’s age on his or Cost other plan within 60 days of receiving the her annuity starting date. But if your annu- Your cost is generally your net investment distribution. Use lines 16a and 16b to report ity starting date was after 1997 and the in the plan as of the annuity starting date. It a qualified rollover, including a direct roll- payments are for your life and that of your does not include pre-tax contributions. over, from one qualified employer’s plan to beneficiary, use your combined ages on the Your net investment should be shown in another or to an IRA or SEP. annuity starting date. Form 1099-R, box 9b, for the first year you Enter on line 16a the total distribution If you are the beneficiary of an received payments from the plan. before income tax or other deductions were Simplified Method Worksheet—Lines 16a and 16b Keep for Your Records Before you begin: If you are the beneficiary of a deceased employee or former employee who died before August 21, 1996, include any death benefit exclusion that you are entitled to (up to $5,000) in the amount entered on line 2 below. Note. If you had more than one partially taxable pension or annuity, figure the taxable part of each separately. Enter the total of the taxable parts on Form 1040, line 16b. Enter the total pension or annuity payments received in 2004 on Form 1040, line 16a. 1. Enter the total pension or annuity payments received in 2004. Also, enter this amount on Form 1040, line 16a ...................................................................... 1. 2. Enter your cost in the plan at the annuity starting date ..................... 2. 3. Enter the appropriate number from Table 1 below. But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below ............... 3. 4. Divide line 2 by the number on line 3 ................................. 4. 5. Multiply line 4 by the number of months for which this year’s payments were made. If your annuity starting date was before 1987, skip lines 6 and 7 and enter this amount on line 8. Otherwise, go to line 6 ........................... 5. 6. Enter the amount, if any, recovered tax free in years after 1986 .............. 6. 7. Subtract line 6 from line 2 ......................................... 7. 8. Enter the smaller of line 5 or line 7 ................................................. 8. 9. Taxable amount. Subtract line 8 from line 1. Enter the result, but not less than zero. Also, enter this amount on Form 1040, line 16b. If your Form 1099-R shows a larger amount, use the amount on this line instead of the amount from Form 1099-R .......................................... 9. Table 1 for Line 3 Above AND your annuity starting date was— IF the age at annuity starting before November 19, 1996, after November 18, 1996, date (see above) was . . . enter on line 3 . . . enter on line 3 . . . 55 or under 300 360 56–60 260 310 61–65 240 260 66–70 170 210 71 or older 120 160 Table 2 for Line 3 Above IF the combined ages at annuity starting date (see above) were . . . THEN enter on line 3 . . . 110 or under 410 111–120 360 121–130 310 131–140 260 141 or older 210 -23- Need more information or forms? See page 7.
Page 1 and 2: Note. This booklet does not contain
Page 3 and 4: What is IRS e-file? It’s the fast
Page 5 and 6: Tax Return Page Reference Questions
Page 7 and 8: Quick and Easy Access to Tax Help a
Page 9 and 10: Topic TeleTax Topics No. Subject No
Page 11 and 12: Before You Fill In Form 1040 See Ho
Page 13 and 14: Chart B—For Children and Other De
Page 15 and 16: Form Item and Box in Which it Shoul
Page 17 and 18: Line 2 December 31, 2004, you were
Page 19 and 20: Form 1040—Lines 7 and 8a less tha
Page 21: gross income was over $139,500 ($69
Page 25 and 26: Form 1040—Lines 20a and 20b Socia
Page 27 and 28: Form 1040—Line 25 IRA Deduction W
Page 29 and 30: Form 1040—Lines 27 Through 29 for
Page 31 and 32: Line 35 Include in the total on lin
Page 33 and 34: Form 1040—Lines 41 and 43 Tax Tab
Page 35 and 36: Line 44 • Tax-exempt interest fro
Page 37 and 38: Line 51—Child Tax Credit What Is
Page 39 and 40: ured the credit. Check box c and en
Page 41 and 42: Lines 65a and 65b— Earned Income
Page 43 and 44: Form 1040—Lines 65a and 65b Conti
Page 45 and 46: Worksheet A—Earned Income Credit
Page 47 and 48: Form 1040—Lines 65a and 65b Works
Page 49 and 50: 2004 Earned Income Credit (EIC) Tab
Page 55 and 56: number is 20202086. Do not include
Page 57 and 58: You cannot sign your return are not
Page 59 and 60: site at www.aarp.org/taxaide or cal
Page 61 and 62: 2004 Tax Table—Continued If line
Page 71 and 72: If line 42 (taxable income) is— A
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Order Blank for Forms and Publicati
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Disclosure, Privacy Act, and Paperw
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Department of the Treasury Internal
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more than the general sales tax rat
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• You gave gifts of property that
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Instructions for Schedule B, after
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ing the tax year, and you did not m
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also include the amount collected i
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line 36. The amount you can deduct
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Principal Business or Professional
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Partnership Interests vestment. Thi
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If there is an amount in box 1c, se
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sale of your main home if you are n
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follow the applicable instructions
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which you entered the combined tota
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If your rental real estate loss is
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gain results from redemption of the
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• Deducting the prepayment will n
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2001 Capital Gain Tax Worksheet—L
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2002 Tax Rate Schedules—Line 12 S
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2003 Tax Rate Schedules—Line 16 S
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homes, parking lots, warehouses, an
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Index to Instructions A Foreign Tax
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2004 Instructions for Form 1040 (ALL) - Supreme Law Firm

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