Instructions For Form 1040-Ss - U.s. Self-Employment Tax Return (Including The Additional Child Tax Credit For Bona Fide Residents Of Puerto Rico) - Internal Revenue Service - 2008 Page 5
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8Line 7
two digits must be 01 through 12 or 21
4. Lived with you for more than half of
through 32. Otherwise, the direct deposit
2008. If the child did not live with you for
If you, or your spouse if filing a joint
will be rejected and a check sent instead.
the required time, see Exception to time
return, had more than one employer for
lived with you in the instructions for Form
Ask your financial institution for the
2008 and total wages of more than
1040, line 6c.
correct routing number to enter on line
$102,000, too much social security tax
5. Was a U.S. citizen or national, or a
12b if:
may have been withheld. You can take a
•
resident alien of the United States.
Your deposit is to a savings account
credit on this line for the amount withheld
that does not allow you to write checks, or
in excess of $6,324. But if any one
•
Note. An adopted child is always
Your checks state they are payable
employer withheld more than $6,324, you
treated as your own child. An adopted
through a financial institution different
must ask that employer to refund the
child includes a child lawfully placed with
from the one at which you have your
excess to you. You cannot claim it on
you for legal adoption. If you are a U.S.
checking account.
Form 1040-SS. Figure this amount
citizen or U.S. national and your adopted
separately for you and your spouse. You
Line 12c
child lived with you all year as a member
must attach Form W-2AS, W-2CM,
of your household, that child meets the
Check the appropriate box for the type of
W-2GU, W-2VI, or 499R-2/W-2PR. See
citizen test.
account. Do not check more than one
chapter 3 of Pub. 505 for more
box. You must check the correct box to
information.
Information about your qualifying
ensure your deposit is accepted.
child. On Part I, line 2, enter the
Line 9
Line 12d
qualifying child’s name, social security
If, during 2008, you were a bona fide
number, and relationship to you. If you
The account number can be up to 17
resident of Puerto Rico and an eligible
have more than six qualifying children,
characters (both numbers and letters).
trade adjustment assistance (TAA)
attach a statement to Form 1040-SS with
Include hyphens but omit spaces and
recipient, alternative TAA recipient, or
the required information. If the child
special symbols. Enter the number from
Pension Benefit Guaranty Corporation
meets the conditions to be a qualifying
left to right and leave any unused boxes
(PBGC) pension recipient, see Form
child of any other person (other than your
blank. Do not include the check number.
8885, Health Coverage Tax Credit, to
spouse if filing jointly) for 2008, see
figure the amount of your credit, if any.
Some financial institutions will not
Qualifying child of more than one person
!
See chapter 1 of Pub. 570 for the bona
allow a joint refund to be
in the instructions for Form 1040, line 6c.
fide residency rules.
deposited to an individual account.
CAUTION
Line 1
If the direct deposit is rejected, a check
Lines 12a Through 12d
will be sent instead. The IRS is not
For purposes of figuring the additional
Complete lines 12b through 12d if you
responsible if a financial institution rejects
child tax credit, you must report all of your
want us to directly deposit the amount
a direct deposit.
income derived from sources within
shown on line 12a to your checking or
Puerto Rico that is excluded from U.S. tax
Part II—Bona Fide
savings account at a U.S. bank or other
because you were a bona fide resident of
U.S. financial institution (such as a mutual
Puerto Rico. This includes items such as
Residents of Puerto Rico
fund, brokerage firm, or credit union).
wages, interest, dividends, taxable
Otherwise, we will send you a check.
Claiming Additional Child
pensions and annuities, and taxable
Note. If you do not want your refund
social security benefits. Also include any
Tax Credit
directly deposited to your account, do not
profit or (loss) from Part III, line 36, and
check the box on line 12a. Draw a line
If, during 2008, you were a bona fide
Part IV, line 27. For more information on
through the boxes on lines 12b and 12d.
resident of Puerto Rico and you qualify to
these and other types of income to
claim the additional child tax credit,
include on line 1, see the Form 1040
You cannot request a deposit of your
complete Part I, line 2; Part II; and the
instructions. See Pub. 570 for the rules to
refund to an account that is not in your
worksheet on page SS-6 to figure the
use in determining your Puerto Rican
name (such as your tax preparer’s own
amount of your credit.
source income.
account).
You must have three or more
Check with your financial
Part III—Profit or Loss
!
qualifying children to claim the
!
institution to make sure your direct
additional child tax credit.
CAUTION
From Farming
deposit will be accepted and to get
CAUTION
the correct routing and account numbers.
Qualifying for the Credit
The accounting method you used to
The IRS is not responsible for a lost
record your farm income determines
You may be able to claim the additional
refund if you enter the wrong account
whether you complete, in addition to
child tax credit for 2008 if all of the
information.
Section B, Section A or C.
following apply.
If the direct deposit to your account(s)
•
You were a bona fide resident of
Cash method. Include in income both
is different than the amount you expected,
Puerto Rico (see Pub. 570).
the cash actually or constructively
you will receive an explanation in the mail
•
Social security and Medicare taxes
received and the fair market value of
about 2 weeks after your refund is
were withheld from your wages or you
goods or other property you received.
deposited.
paid self-employment tax.
Generally, you deduct your expenses
•
Line 12a
You had three or more qualifying
when you pay them.
children (defined below).
If you want to split the direct deposit of
Accrual method. Include your income in
Qualifying child. A qualifying child for
your refund among two or three accounts,
the year you earned it. It does not matter
purposes of the additional child tax credit
check the box on line 12a and attach
when you get it. Deduct your expenses
is a child who:
Form 8888, Direct Deposit of Refund to
when you incur them.
More Than One Account. If you want your
1. Is your son, daughter, stepchild,
refund deposited to only one account, do
foster child, brother, sister, stepbrother,
Part V—Self-Employment
not check the box on line 12a, but instead
stepsister, or a descendant of any of them
Tax
complete lines 12b through 12d.
(for example, your grandchild, niece, or
nephew). A foster child is any child placed
If you file a joint return and check the
with you by an authorized placement
If you are filing a joint return and
box on line 12a and attach Form 8888 or
!
agency or by a judgment, decree, or other
both you and your spouse have
fill in lines 12b through 12d, your spouse
order of any court of competent
income subject to
may get at least part of the refund.
CAUTION
jurisdiction.
self-employment tax, you must each
Line 12b
2. Was under 17 at the end of 2008.
complete a separate Part V. This includes
The routing number for your financial
3. Did not provide over half of his or
those who made a joint election to be
institution must be nine digits. The first
her own support for 2008.
taxed as a qualified joint venture.
SS-5
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