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

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Form 1040—Lines 65a and 65b Worksheet B—Earned Income Credit (EIC)—Lines 65a and 65b Keep for Your Records Use this worksheet if you were self-employed, or you are filing Schedule SE because you were a member of the clergy or you had church employee income, or you are filing Schedule C or C-EZ as a statutory employee. Complete the parts below (Parts 1 through 3) that apply to you. Then, continue to Part 4. If you are married filing a joint return, include your spouse’s amounts, if any, with yours to figure the amounts to enter in Parts 1 through 3. Part 1 Self-Employed, Members of the Clergy, and People With Church Employee Income Filing Schedule SE 1a. b. c. d. e. Enter the amount from Schedule SE, Section A, line 3, or Section B, line 3, whichever applies. Enter any amount from Schedule SE, Section B, line 4b, and line 5a. Combine lines 1a and 1b. Enter the amount from Schedule SE, Section A, line 6, or Section B, line 13, whichever applies. Subtract line 1d from 1c. + = – = 1a 1b 1c 1d 1e Part 2 Self-Employed NOT Required To File Schedule SE For example, your net earnings from self-employment were less than $400. 2. a. b. Do not include on these lines any statutory employee income or any amount exempt from self-employment tax as the result of the filing and approval of Form 4029 or Form 4361. Enter any net farm profit or (loss) from Schedule F, line 36, and from farm partnerships, Schedule K-1 (Form 1065), box 14, code A*. Enter any net profit or (loss) from Schedule C, line 31; Schedule C-EZ, line 3; Schedule K-1 (Form 1065), box 14, code A (other than farming); and Schedule K-1 (Form 1065-B), box 9*. c. Combine lines 2a and 2b. = 2c *Reduce any Schedule K-1 amounts by any partnership section 179 expense deduction claimed, unreimbursed partnership expenses claimed, and depletion claimed on oil and gas properties. If you have any Schedule K-1 amounts, complete the appropriate line(s) of Schedule SE, Section A. Put your name and social security number on Schedule SE and attach it to your return. + 2a 2b Part 3 Statutory Employees Filing Schedule C or C-EZ 3. Enter the amount from Schedule C, line 1, or Schedule C-EZ, line 1, that you are filing as a statutory employee. 3 Part 4 All Filers Using Worksheet B 4a. Enter your earned income from Step 5 on page 43. b. Combine lines 1e, 2c, 3, and 4a. This is your total earned income. 4a 4b Note. If line 4b includes income on which you should have paid selfemployment tax but did not, we may reduce your credit by the amount of self-employment tax not paid. STOP If line 4b is zero or less, You cannot take the credit. Put “No” on the dotted line next to line 65a. 5. If you have: ● 2 or more qualifying children, is line 4b less than $34,458 ($35,458 if married filing jointly)? ● 1 qualifying child, is line 4b less than $30,338 ($31,338 if married filing jointly)? ● No qualifying children, is line 4b less than $11,490 ($12,490 if married filing jointly)? Yes. If you want the IRS to figure your credit, see page 44. If you want to figure the credit yourself, enter the amount from line 4b on line 6 (page 47). STOP No. You cannot take the credit. Put “No” on the dotted line next to line 65a. Need more information or forms? See page 7. -46-
Form 1040—Lines 65a and 65b Worksheet B—Continued from page 46 Keep for Your Records Part 5 All Filers Using Worksheet B 6. 7. Enter your total earned income from Part 4, line 4b, on page 46. Look up the amount on line 6 above in the EIC Table on pages 48–53 to find the credit. Be sure you use the correct column for your filing status and the number of children you have. Enter the credit here. 6 7 STOP If line 7 is zero, You cannot take the credit. Put “No” on the dotted line next to line 65a. 8. Enter the amount from Form 1040, line 37. 8 9. Are the amounts on lines 8 and 6 the same? Yes. Skip line 10; enter the amount from line 7 on line 11. No. Go to line 10. Part 6 Filers Who Answered “No” on Line 9 10. If you have: ● No qualifying children, is the amount on line 8 less than $6,400 ($7,400 if married filing jointly)? ● 1 or more qualifying children, is the amount on line 8 less than $14,050 ($15,050 if married filing jointly)? Yes. Leave line 10 blank; enter the amount from line 7 on line 11. No. Look up the amount on line 8 in the EIC Table on pages 48–53 to find the credit. Be sure you use the correct column for your filing status and the number of children you have. Enter the credit here. Look at the amounts on lines 10 and 7. Then, enter the smaller amount on line 11. 10 Part 7 11. This is your earned income credit. 11 Your Earned Income Credit Reminder— If you have a qualifying child, complete and attach Schedule EIC. 1040 EIC Enter this amount on Form 1040, line 65a. 1040 CAUTION If your EIC for a year after 1996 was reduced or disallowed, see page 44 to find out if you must file Form 8862 to take the credit for 2004. -47- 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 and 22: gross income was over $139,500 ($69
Page 23 and 24: Form 1040—Lines 16a and 16b Age (
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: Worksheet A—Earned Income Credit
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
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Page 61 and 62: 2004 Tax Table—Continued If line
Page 71 and 72: If line 42 (taxable income) is— A
Page 73 and 74: Order Blank for Forms and Publicati
Page 75 and 76: Disclosure, Privacy Act, and Paperw
Page 77 and 78: Department of the Treasury Internal
Page 79 and 80: more than the general sales tax rat
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Page 83 and 84: Instructions for Schedule B, after
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Page 87 and 88: ing the tax year, and you did not m
Page 89 and 90: also include the amount collected i
Page 91 and 92: line 36. The amount you can deduct
Page 93 and 94: Principal Business or Professional
Page 95 and 96: 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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Department of the Treasury Internal
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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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