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

Form 1040—Lines 62 Through 64
Line 62
8. Golden parachute payments. If you
received an excess parachute payment Line 64
(EPP), you must pay a 20% tax on it. This
Total Tax
2004 Estimated Tax
tax should be shown in Form W-2, box 12,
Include in the total on line 62 any of the with code K. If you received a Form Payments
following taxes. To find out if you owe the 1099-MISC, the tax is 20% of the EPP Enter any estimated federal income tax
tax, see the form or publication indicated. shown in box 13. Identify as “EPP.” payments you made using Form 1040-ES
On the dotted line next to line 62, enter the
9. Tax on accumulation distribution of for 2004. Include any overpayment from
amount of the tax and identify it as inditrusts
(see Form 4970). Identify as “ADT.” your 2003 return that you applied to your
cated.
10. Excise tax on insider stock compen- 2004 estimated tax.
1. Additional tax on health savings ac- sation from an expatriated corporation.
count distributions (see Form 8889). Iden- You may owe a 15% excise tax on the If you and your spouse paid joint estitify
as “HSA.”
value of nonstatutory stock options and cercome
tax returns, you can divide the
mated tax but are now filing separate in-
2. Additional tax on Archer MSA distri- tain other stock-based compensation held
butions (see Form 8853). Identify as by you or a member of your family from an
amount paid in any way you choose as long
“MSA.”
as you both agree. If you cannot agree, you
expatriated corporation or its expanded afmust
divide the payments in proportion to
3. Additional tax on Medicare Advan- filiated group in which you were an officer,
tage MSA distributions (see Form 8853).
each spouse’s individual tax as shown on
director, or more-than-10% owner. See Inyour
separate returns for 2004. For an ex-
Identify as “Med MSA.”
ternal Revenue Code section 4985. Identify
ample of how to do this, see Pub. 505. Be
4. Recapture of the following credits. as “ISC.”
sure to show both social security numbers
a. Investment credit (see Form 4255).
(SSNs) in the space provided on the sepa-
Identify as “ICR.”
rate returns. If you or your spouse paid
b. Low-income housing credit (see
separate estimated tax but you are now fil-
Form 8611). Identify as “LIHCR.” Payments
ing a joint return, add the amounts you each
paid. Follow these instructions even if your
c. Qualified electric vehicle credit (see
spouse died in 2004 or in 2005 before filing
Pub. 535). Identify as “QEVCR.”
a 2004 return.
d. Indian employment credit (see Form Line 63
8845). Identify as “IECR.”
Federal Income Tax
Divorced Taxpayers
e. New markets credit (see Form 8874).
Withheld
If you got divorced in 2004 and you made
Identify as “NMCR.”
joint estimated tax payments with your forf.
Credit for employer-provided child Add the amounts shown as federal income
mer spouse, put your former spouse’s SSN
care facilities (see Form 8882). Identify as tax withheld on your Forms W-2, W-2G, in the space provided on the front of
“ECCFR.”
and 1099-R. Enter the total on line 63. The Form 1040. If you were divorced and reamount
withheld should be shown in Form married in 2004, put your present spouse’s
5. Recapture of federal mortgage subsidy.
If you sold your home in 2004 and it W-2 or W-2G, box 2, and in Form 1099-R, SSN in the space provided on the front of
was financed (in whole or in part) from the box 4. Attach Forms W-2G and 1099-R to Form 1040. Also, under the heading Pay-
proceeds of any tax-exempt qualified morttax
was withheld.
spouse’s SSN, followed by “DIV.”
the front of your return if federal income ments to the left of line 64, put your former
gage bond or you claimed the mortgage
interest credit, see Form 8828. Identify as
“FMSR.”
If you received a 2004 Form 1099 Name Change
showing federal income tax withheld on
6. Section 72(m)(5) excess benefits tax
dividends, interest income, unemployment If you changed your name because of mar-
(see Pub. 560). Identify as ‘‘Sec.
compensation, social security benefits, or riage, divorce, etc., and you made esti-
72(m)(5).’’
other income you received, include the mated tax payments using your former
7. Uncollected social security and amount withheld in the total on line 63.
name, attach a statement to the front of
Medicare or RRTA tax on tips or This should be shown in Form 1099, box 4,
Form 1040. On the statement, explain all
group-term life insurance. This tax should
or Form SSA-1099, box 6.
the payments you and your spouse made in
be shown in Form W-2, box 12, with codes
2004 and the name(s) and SSN(s) under
A and B or M and N. Identify as “UT.”
which you made them.
Need more information or forms? See page 7. -40-