Free 2008 Form 1040-SS - Federal

Form

1040-SS

U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico)
U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands (CNMI), or Puerto Rico. For the year Jan. 1­Dec. 31, 2008, or other tax year beginning , 2008, and ending , 20 Last name .

OMB No. 1545-0090

Department of the Treasury Internal Revenue Service

2008

Your first name and initial Please type or print

Your social security number

If a joint return, spouse's first name and initial

Last name

Spouse's social security number

Present home address (number, street, and apt. no., or rural route)

City, town or post office, commonwealth or territory, and ZIP code

Part I
1

Total Tax and Credits

2

Filing status. Check the box for your filing status (see page SS-4). Single Married filing jointly Married filing separately. Enter spouse's social security no. above and full name here. Qualifying children. Complete only if you are a bona fide resident of Puerto Rico and you are claiming the additional child tax credit (see page SS-5). (a) First name Last name (b) Child's social security number (c) Child's relationship to you

3 4 5 6 7 8 9 10 11 12a

Self-employment tax from Part V, line 12 Household employment taxes (see page SS-4). Attach Schedule H (Form 1040) Total tax. Add lines 3 and 4 (see page SS-4) 6 2008 estimated tax payments (see page SS-4) 7 Excess social security tax withheld (see page SS-5) 8 Additional child tax credit from Part II, line 3 9 Health coverage tax credit. Attach Form 8885 Total payments and credits. Add lines 6 through 9 If line 10 is more than line 5, subtract line 5 from line 10. This is the amount you overpaid Amount of line 11 to be refunded to you. If Form 8888 is attached, check here
c Type:

3 4 5

10 11 12a

b Routing number d Account number 13 14

Checking

Savings

13 Amount of line 11 to be applied to 2009 estimated tax Amount you owe. If line 5 is more than line 10, subtract line 10 from line 5. For details on how to pay, see page SS-1
Do you want to allow another person to discuss this return with the IRS (see page SS-2)?

14
No

Third Party Designee Sign Here
Joint return? See pg. SS-4. Keep a copy for your records.

Yes. Complete the following.

Designee's Phone Personal identification ( ) name no. number (PIN) Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than the taxpayer) is based on all information of which the preparer has any knowledge. Daytime phone number Your signature Date ( Spouse's signature. If a joint return, both must sign. Date )

Paid Preparer's Use Only

Preparer's signature Firm's name (or yours if self-employed), address, and ZIP code

Date

Check if self-employed EIN Phone no. Cat. No. 17184B

Preparer's SSN or PTIN

( Form

)

For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see page SS-8.

1040-SS

(2008)

Form 1040-SS (2008)

Page

2

Part II

Bona Fide Residents of Puerto Rico Claiming Additional Child Tax Credit--See page SS-5.

Caution. You must have three or more qualifying children to claim the additional child tax credit. 1 2 3 Income derived from sources within Puerto Rico Withheld social security and Medicare taxes from Forms 499R-2/W-2PR (attach copy of form(s)) Additional child tax credit. Use the worksheet on page SS-6 to figure the amount to enter here and in Part I, line 8 1 2 3
Social security number

Part III

Profit or Loss From Farming--See the instructions for Schedule F (Form 1040)

Name of proprietor

Note. If you are filing a joint return and both you and your spouse had a profit or loss from a farming business, see Joint returns and Husband-Wife Business beginning on page SS-3 for more information. Section A--Farm Income--Cash Method Complete Sections A and B. (Accrual method taxpayers, complete Sections B and C, and Section A, line 11.) Do not include sales of livestock held for draft, breeding, sport, or dairy purposes. 1 2 3 4 5a 6 7 8 9 10 11 1 Sales of livestock and other items you bought for resale 2 Cost or other basis of livestock and other items reported on line 1 Subtract line 2 from line 1 Sales of livestock, produce, grains, and other products you raised Total cooperative distributions (Form(s) 5a 1099-PATR) 5b Taxable amount Agricultural program payments received Commodity Credit Corporation loans reported under election (or forfeited) Crop insurance proceeds Custom hire (machine work) income Other income Gross farm income. Add amounts in the right column for lines 3 through 10. If accrual method taxpayer, enter the amount from Section C, line 50

3 4 5b 6 7 8 9 10

11 Section B--Farm Expenses--Cash and Accrual Method Do not include personal or living expenses (such as taxes, insurance, or repairs on your home) that did not produce farm income. Reduce the amount of your farm expenses by any reimbursements before entering the expenses below. 12 13 14 15 16 Car and truck expenses (attach Form 4562) Chemicals Conservation expenses Custom hire (machine work) Depreciation and section 179 expense deduction not claimed elsewhere (attach Form 4562 if required) 25 12 13 14 15 Pension and profit-sharing plans 26 Rent or lease: a Vehicles, machinery, and equipment b Other (land, animals, etc.) 27 Repairs and maintenance 28 Seeds and plants purchased 29 Storage and warehousing 30 Supplies purchased 31 Taxes 32 Utilities 33 Veterinary, breeding, and medicine 34 Other expenses (specify): a b c d e 25

16 17 18 19 20 21 22 23a 23b 24

17

Employee benefit programs other than on line 25 18 Feed purchased 19 Fertilizers and lime 20 Freight and trucking 21 Gasoline, fuel, and oil 22 Insurance (other than health) 23 Interest: a Mortgage (paid to banks, etc.) b Other 24 Labor hired 35 36

26a 26b 27 28 29 30 31 32 33 34a 34b 34c 34d 34e 35 36
Form

Total expenses. Add lines 12 through 34e Net farm profit or (loss). Subtract line 35 from line 11. Enter the result here and in Part V, line 1a

1040-SS

(2008)

Form 1040-SS (2008)

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3

Section C--Farm Income--Accrual Method Do not include sales of livestock held for draft, breeding, sport, or dairy purposes on any of the lines below. 37 37 Sales of livestock, produce, grains, and other products during the year 38b 38a 38a Total cooperative distributions (Form(s) 1099-PATR) 38b Taxable amount 39 39 Agricultural program payments received 40 40 Commodity Credit Corporation loans reported under election (or forfeited) 41 41 Crop insurance proceeds 42 42 Custom hire (machine work) income 43 43 Other farm income (specify) 44 44 Add the amounts in the right column for lines 37 through 43 45 Inventory of livestock, produce, grains, and other products at the 45 beginning of the year 46 46 Cost of livestock, produce, grains, and other products purchased during the year 47 47 Add lines 45 and 46 48 48 Inventory of livestock, produce, grains, and other products at the end of the year 49 49 Cost of livestock, produce, grains, and other products sold. Subtract line 48 from line 47* 50 Gross farm income. Subtract line 49 from line 44. Enter the result here and in Part III, line 11 50
*If you use the unit-livestock-price method or the farm-price method of valuing inventory and the amount on line 48 is larger than the amount on line 47, subtract line 47 from line 48. Enter the result on line 49. Add lines 44 and 49. Enter the total on line 50 and in Part III, line 11.

Part IV

Profit or Loss From Business (Sole Proprietorship)--See the instructions for Schedule C (Form 1040)
Social security number

Name of proprietor

Note. If you are filing a joint return and both you and your spouse had a profit or loss from a business, see Joint returns and Husband-Wife Business beginning on page SS-3 for more information. Section A--Income 1 2a b c d e f g h 3 4 5 6 7 8 9 10 11 Gross receipts $ Less returns and allowances $ Inventory at beginning of year Purchases less cost of items withdrawn for personal use Cost of labor. Do not include any amounts paid to yourself Materials and supplies Other costs (attach statement) Add lines 2a through 2e Inventory at end of year Cost of goods sold. Subtract line 2g from line 2f Gross profit. Subtract line 2h from line 1 Other income Gross income. Add lines 3 and 4 Section B--Expenses 6 Advertising 18 Rent or Car and truck expenses (attach Form 4562) Commissions and fees Contract labor Depletion Depreciation and section 179 expense deduction (not included in Section A). (Attach Form 4562 if required.) Employee benefit programs (other than on line 17) Insurance (other than health) Interest on business indebtedness Legal and professional services Office expense Pension and profit-sharing plans 7 8 9 10 Balance 2a 2b 2c 2d 2e 2f 2g 2h 3 4 5 1

lease: a Vehicles, machinery, and equipment b Other business property

19 20 21 22

11 12 13

12 13 14 15 16 17 26 27

Repairs and maintenance Supplies (not included in Section A) Taxes and licenses Travel, meals, and entertainment: a Travel b Deductible meals and entertainment 23 Utilities 24 Wages not included on line 2c 25a Other expenses (list type and amount):

18a 18b 19 20 21 22a 22b 23 24

14 15 16 25b Total other expenses 17 Total expenses. Add lines 6 through 25b Net profit or (loss). Subtract line 26 from line 5. Enter the result here and in Part V, line 2

25b 26 27
Form

1040-SS

(2008)

Form 1040-SS (2008)

Page

4

Part V

Self-Employment Tax--If you had church employee income, see page SS-3 before you begin.
Social security number of person with self-employment income

Name of person with self-employment income

Note. If you are filing a joint return and both you and your spouse had self-employment income, you must each complete a separate Part V.
A

If you are a minister, member of a religious order, or Christian Science practitioner and you filed Form 4361, but you had $400 or more of other net earnings from self-employment, check here and continue with Part V Note. Skip lines 1a and 1b if you use the farm optional method (see page SS-8)
b If you received social security retirement or disability benefits, enter the amount of Conservation 1a

1a Net farm profit or (loss) from Part III, line 36, and your distributive share from farm partnerships.

Reserve Program payments included in Part III, line 6, plus your distributive share of these payments from farm partnerships Net nonfarm profit or (loss) from Part IV, line 27, and your distributive share from nonfarm partnerships. Ministers and members of religious orders, see page SS-3 for amounts to report on this line. See pages SS-6 and -7 for other income to report. Note. Skip this line if you use the nonfarm optional method (see page SS-8) 3 Combine lines 1a, 1b, and 2 4a If line 3 is more than zero, multiply line 3 by 92.35% (.9235). Otherwise, enter amount from line 3 b If you elect one or both of the optional methods, enter the total of lines 2 and 4 of Part VI here c Combine lines 4a and 4b. If less than $400, stop; you do not owe self-employment tax. Exception. If less than $400 and you had church employee income, enter -0- and continue
2 5a Enter your church employee income from Form(s) W-2, W-2AS,

1b

(

)

2 3 4a 4b 4c

W-2CM, W-2GU, W-2VI, or 499R-2/W-2PR. See page SS-3 for 5a definition of church employee income b Multiply line 5a by 92.35% (.9235). If less than $100, enter -06 Net earnings from self-employment. Add lines 4c and 5b 7 Maximum amount of combined wages and self-employment earnings subject to social security tax for 2008 8a Total social security wages and tips from Form(s) W-2, W-2AS, W-2CM, W-2GU, W-2VI, or 499R-2/W-2PR. If $102,000 or more, skip 8a lines 8b through 10, and go to line 11
b Unreported tips subject to social security tax from Form 4137, line 10

5b 6 7

102,000

00

(see page SS-7)
c Wages subject to social security tax from Form 8919, line 10 (see

8b 8c 8d 9 10 11 12

page SS-7)
d Add lines 8a, 8b, and 8c 9 10 11 12

Subtract line 8d from line 7. If zero or less, enter -0- here and on line 10 and go to line 11 Multiply the smaller of line 6 or line 9 by 12.4% (.124) Multiply line 6 by 2.9% (.029) Self-employment tax. Add lines 10 and 11. Enter here and in Part I, line 3

Part VI

Optional Methods To Figure Net Earnings--See pages SS-7 and -8 for limitations.

Note. If you are filing a joint return and both you and your spouse choose to use an optional method to figure net earnings, you must each complete and attach a separate Part VI. 1 2 Farm Optional Method Maximum income for optional methods Enter the smaller of: two-thirds (2/ 3 ) of gross farm income (Part III, line 11, plus your distributive share from farm partnerships), but not less than zero; or $4,200. Also include this amount in Part V, line 4b, above Nonfarm Optional Method Subtract line 2 from line 1 Enter the smaller of: two-thirds (2/ 3 ) of gross nonfarm income (Part IV, line 5, plus your distributive share from nonfarm partnerships), but not less than zero; or the amount in Part VI, line 3, above. Also include this amount in Part V, line 4b, above 1

4,200

00

2 3

3 4

4
Form

1040-SS

(2008)