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Form 1040—Lines 58 Through 61 counts (ESAs), Archer MSAs, or health codes A and B or M and N. Identify as Line 60 “UT.” savings accounts (HSAs). 10. Golden parachute payments. If you 3. You received taxable distributions Total Tax received an excess parachute payment from Coverdell ESAs or qualified tuition Include in the total on line 60 any of the (EPP), you must pay a 20% tax on it. This programs. following taxes. To find out if you owe the tax should be shown in box 12 of Form tax, see the form or publication indicated. W-2 with code K. If you received a Form On the dotted line next to line 60, enter the 1099-MISC, the tax is 20% of the EPP Exception. If only item (1) applies and dis- amount of the tax and identify it as indi- shown in box 13. Identify as “EPP.” tribution code 1 is correctly shown in box 7 cated. of Form 1099-R, you do not have to file 11. Tax on accumulation distribution of Form 5329. Instead, multiply the taxable trusts (see Form 4970). Identify as “ADT.” 1. Additional tax on health savings ac- amount of the distribution by 10% (.10) and count (HSA) distributions (see Form 8889, 12. Excise tax on insider stock compen- enter the result on line 58. The taxable Part II). Identify as “HSA.” sation from an expatriated corporation. amount of the distribution is the part of the You may owe a 15% excise tax on the 2. Additional tax on an HSA because distribution you reported on Form 1040, value of nonstatutory stock options and cer- you did not remain an eligible individual line 15b or line 16b, or on Form 4972. tain other stock-based compensation held during the testing period (see Form 8889, Also, enter “No” under the heading “Other by you or a member of your family from an Part III). Identify as “HDHP.” Taxes” to the left of line 58 to indicate that expatriated corporation or its expanded af- 3. Additional tax on Archer MSA distri- you do not have to file Form 5329. But if filiated group in which you were an officer, butions (see Form 8853). Identify as distribution code 1 is incorrectly shown in director, or more-than-10% owner. See “MSA.” box 7 of Form 1099-R or you qualify for an section 4985. Identify as “ISC.” 4. Additional tax on Medicare Advan- exception for qualified medical expenses, 13. Additional tax on income you re- tage MSA distributions (see Form 8853). qualified higher education expenses, quali- ceived from a nonqualified deferred com- Identify as “Med MSA.” fied first-time homebuyer distributions, or pensation plan that fails to meet certain 5. Recapture of the following credits. a qualified reservist distribution, you must requirements. This income should be file Form 5329. shown in box 12 of Form W-2 with code Z, a. Investment credit (see Form 4255). or in box 15b of Form 1099-MISC. The tax Identify as “ICR.” is 20% of the amount required to be in- b. First-time homebuyer credit (see cluded in income plus an interest amount Form 5405). Identify as “FTHCR.” Line 59 d e t e r m i n e d u n d e r s e c t i o n c. Low-income housing credit (see 409A(a)(1)(B)(ii). See section Additional Taxes Form 8611). Identify as “LIHCR.” 409A(a)(1)(B) for details. Identify as Enter the total of any advance earned in- d. Qualified electric vehicle credit (see “NQDC.” come credit (AEIC) payments you received Form 8834). Identify as “QEVCR.” 14. Interest on the tax due on installment and household employment taxes from e. Indian employment credit (see Form income from the sale of certain residential Schedule H. Check the appropriate box(es). 8845). Identify as “IECR.” lots and timeshares. Identify as “453(l)(3).” f. New markets credit (see Form 8874). 15. Interest on the deferred tax on gain AEIC payments. Enter the amount of Identify as “NMCR.” from certain installment sales with a sales AEIC payments you received. These pay- g. Credit for employer-provided child price over $150,000. Identify as “453A(c).” ments are shown in box 9 of Form(s) W-2. care facilities (see Form 8882). Identify as 16. Additional tax on recapture of a char- “ECCFR.” itable contribution deduction relating to a Household employment taxes. If any of the h. Alternative motor vehicle credit (see fractional interest in tangible personal following apply, see Schedule H and its Form 8910). Identify as “AMVCR.” property. See Pub. 526. Identify as instructions to find out if you owe these “FITPP.” i. Alternative fuel vehicle refueling taxes. property credit (see Form 8911). Identify as 17. Look-back interest under section “ARPCR.” 167(g) or 460(b). See Form 8697 or 8866. 1. You paid any one household em- Identify as “From Form 8697” or “From ployee (defined below) cash wages of 6. Recapture of federal mortgage sub- Form 8866.” $1,700 or more in 2009. Cash wages in- sidy. If you sold your home in 2009 and it clude wages paid by check, money order, was financed (in whole or in part) from the etc. But do not count amounts paid to an proceeds of any tax-exempt qualified mort- gage bond or you claimed the mortgage employee who was under age 18 at any interest credit, see Form 8828. Identify as time in 2009 and was a student. Payments “FMSR.” 2. You withheld federal income tax dur- 7. Recapture of COBRA premium assis- ing 2009 at the request of any household tance. If you received premium assistance employee. Line 61 under COBRA continuation coverage that 3. You paid total cash wages of $1,000 Federal Income Tax covered you, your spouse, or any of your or more in any calendar quarter of 2008 or dependents, and your modified adjusted Withheld 2009 to household employees. gross income is more than $125,000 Add the amounts shown as federal income ($250,000 if married filing jointly), see tax withheld on your Forms W-2, W-2G, Pub. 502. Identify as “COBRA.” and 1099-R. Enter the total on line 61. The Household employee. Any person who amount withheld should be shown in box 2 8. Section 72(m)(5) excess benefits tax does household work is a household em- of Form W-2 or W-2G, and in box 4 of (see Pub. 560). Identify as ‘‘Sec. ployee if you can control what will be done Form 1099-R. Attach Forms W-2G and 72(m)(5).’’ and how it will be done. Household work 1099-R to the front of your return if federal includes work done in or around your home 9. Uncollected social security and income tax was withheld. by babysitters, nannies, health aides, Medicare or RRTA tax on tips or maids, yard workers, and similar domestic group-term life insurance. This tax should If you received a 2009 Form 1099 workers. be shown in box 12 of Form W-2 with showing federal income tax withheld on Need more information or forms? See page 96. - 46 -