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