2004 Instructions for Form 1040 (ALL) - Supreme Law Firm
2004 Instructions for Form 1040 (ALL) - Supreme Law Firm
2004 Instructions for Form 1040 (ALL) - Supreme Law Firm
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<strong>Form</strong> <strong>1040</strong>—Lines 44 Through 50<br />
<strong>Form</strong> 6251 should be filled in<br />
• The amount on <strong>Form</strong> <strong>1040</strong>, line 37, is<br />
<strong>for</strong> a child who was under age Line 47<br />
$52,000 or more ($105,000 or more if mar-<br />
!<br />
14 at the end of <strong>2004</strong> if the ried filing jointly).<br />
CAUTION<br />
child’s adjusted gross income Credit <strong>for</strong> Child and<br />
• You are taking a deduction <strong>for</strong> tuition<br />
from <strong>Form</strong> <strong>1040</strong>, line 37, exceeds the Dependent Care Expenses and fees on <strong>Form</strong> <strong>1040</strong>, line 27, <strong>for</strong> the<br />
child’s earned income by more than You may be able to take this credit if you same student.<br />
$5,750. paid someone to care <strong>for</strong> your child under • You (or your spouse) were a nonresiage<br />
13 or your dependent or spouse who dent alien <strong>for</strong> any part of <strong>2004</strong> unless your<br />
could not care <strong>for</strong> himself or herself. For filing status is married filing jointly.<br />
Line 46<br />
details, use TeleTax topic 602 (see page 8)<br />
or see <strong>Form</strong> 2441.<br />
Foreign Tax Credit<br />
If you paid income tax to a <strong>for</strong>eign country,<br />
you may be able to take this credit. Generally,<br />
you must complete and attach <strong>Form</strong><br />
1116 to do so.<br />
Line 48<br />
Credit <strong>for</strong> the Elderly or the<br />
Disabled<br />
Line 50<br />
Retirement Savings<br />
Contributions Credit<br />
You may be able to take this credit if you,<br />
Exception. You do not have to complete<br />
or your spouse if filing jointly, made (a)<br />
<strong>Form</strong> 1116 to take this credit if all five of You may be able to take this credit if by the contributions to a traditional or Roth IRA;<br />
the following apply. end of <strong>2004</strong> (a) you were age 65 or older, or (b) elective deferrals to a 401(k), 403(b),<br />
1. All of your gross <strong>for</strong>eign source in-<br />
(b) you retired on permanent and total disa- governmental 457, SEP, or SIMPLE plan;<br />
come was from interest and dividends and bility and you had taxable disability in- (c) voluntary employee contributions to a<br />
all of that income and the <strong>for</strong>eign tax paid come. But you usually cannot take the qualified retirement plan (including the<br />
on it were reported to you on <strong>Form</strong> credit if the amount on <strong>Form</strong> <strong>1040</strong>, line 37, federal Thrift Savings Plan); or (d) contri-<br />
1099-INT, <strong>Form</strong> 1099-DIV, or Schedule is $17,500 or more ($20,000 or more if butions to a 501(c)(18)(D) plan.<br />
K-1 (or substitute statement). married filing jointly and only one spouse<br />
However, you cannot take the credit if<br />
is eligible <strong>for</strong> the credit; $25,000 or more if<br />
2. If you had dividend income from<br />
either of the following applies.<br />
married filing jointly and both spouses are<br />
shares of stock, you held those shares <strong>for</strong> at<br />
eligible; $12,500 or more if married filing 1. The amount on <strong>Form</strong> <strong>1040</strong>, line 37, is<br />
least 16 days.<br />
separately). See Schedule R and its instruc- more than $25,000 ($37,500 if head of<br />
3. You are not filing <strong>Form</strong> 4563 or ex- tions <strong>for</strong> details.<br />
household; $50,000 if married filing<br />
cluding income from sources within Puerto<br />
Credit figured by the IRS. If you can take<br />
jointly).<br />
Rico.<br />
this credit and you want us to figure it <strong>for</strong> 2. The person(s) who made the qualified<br />
4. The total of your <strong>for</strong>eign taxes was<br />
you, see the <strong>Instructions</strong> <strong>for</strong> Schedule R. contribution or elective deferral (a) was<br />
not more than $300 (not more than $600 if<br />
born after January 1, 1987, (b) is claimed as<br />
married filing jointly).<br />
a dependent on someone else’s <strong>2004</strong> tax<br />
5. All of your <strong>for</strong>eign taxes were:<br />
return, or (c) was a student (defined below).<br />
Line 49<br />
a. Legally owed and not eligible <strong>for</strong> a You were a student if during any 5<br />
refund, and Education Credits months of <strong>2004</strong> you:<br />
b. Paid to countries that are recognized If you (or your dependent) paid qualified • Were enrolled as a full-time student at<br />
by the United States and do not support expenses in <strong>2004</strong> <strong>for</strong> yourself, your spouse, a school, or<br />
terrorism. or your dependent to enroll in or attend an • Took a full-time, on-farm training<br />
eligible educational institution, you may be<br />
For more details on these requirements,<br />
course given by a school or a state, county,<br />
able to take an education credit. See <strong>Form</strong><br />
see the <strong>Instructions</strong> <strong>for</strong> <strong>Form</strong> 1116.<br />
or local government agency.<br />
8863 <strong>for</strong> details. However, you cannot take<br />
Do you meet all five requirements an education credit if any of the following<br />
A school includes a technical, trade, or<br />
above?<br />
apply.<br />
mechanical school. It does not include an<br />
on-the-job training course, correspondence<br />
Yes. Enter on line 46 the smaller of • You are claimed as a dependent on school, or night school.<br />
(a) your total <strong>for</strong>eign taxes, or (b) the someone’s (such as your parent’s) <strong>2004</strong> tax<br />
amount on <strong>Form</strong> <strong>1040</strong>, line 43.<br />
return.<br />
For more details, use TeleTax topic 610<br />
(see page 8) or see <strong>Form</strong> 8880.<br />
No. See <strong>Form</strong> 1116 to find out if • Your filing status is married filing<br />
you can take the credit and, if you can, if separately.<br />
you have to file <strong>Form</strong> 1116.<br />
Need more in<strong>for</strong>mation or <strong>for</strong>ms? See page 7. -36-