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 6
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8Additional Child Tax Credit Worksheet —Part II, Line 3
Keep for Your Records
1. Do you have three or more qualifying children?
No. Stop. You cannot claim the credit.
Yes. Go to line 2.
2. Number of qualifying children: _______ × $1,000. Enter the result . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Enter the amount from Part II, line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Enter the amount shown below for your filing status . . . . . . . . . . . . . . . . . . .
4.
•
Married filing jointly — $110,000
•
Single — $75,000
•
Married filing separately — $55,000
5. Is the amount on line 3 more than the amount on line 4?
No. Leave line 5 blank. Enter -0- on line 6.
Yes. Subtract line 4 from line 3. If the result is not a multiple of
$1,000, increase it to the next multiple of $1,000 (for example,
increase $425 to $1,000, increase $1,025 to $2,000, etc.) . . . . . . . . . . . .
5.
6. Multiply the amount on line 5 by 5% (.05). Enter the result . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Is the amount on line 2 more than the amount on line 6?
No. Stop. You cannot claim the credit.
Yes. Subtract line 6 from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Enter one-half of the amount from Part V, line 12, here . . . . . . . . . . . . . . . .
8.
9. Enter the total of any:
•
Amount from Part II, line 2, plus
•
Employee social security and Medicare tax on tips not reported to
employer and shown on the dotted line next to Part I, line 5, plus
•
Uncollected employee social security and Medicare tax shown on the
dotted line next to Part I, line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Add lines 8 and 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Enter the amount, if any, from Part I, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Is the amount on line 10 more than the amount on line 11?
No. Stop. You cannot claim the credit.
Yes. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Additional child tax credit. Enter the smaller of line 7 or line 12 here and on
Form 1040-SS, Part II, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
Line 1b
a trade or business and any guaranteed
of the month in which he or she died. See
payments for services or the use of
section 1402(f).
If you were receiving social security
capital. However, if you were a limited
If you were married and both you and
retirement or social security disability
partner, include only guaranteed
your spouse were partners in a
benefits at the time you received your
payments for services you actually
partnership, each of you must report your
Conservation Reserve Program (CRP)
rendered to or on behalf of the
net earnings from self-employment from
payment(s), enter the amount of your
partnership.
the partnership. Each of you must
taxable CRP payment(s) in Part V, line
complete a separate Part V. If only one of
1b. The amount of these payments is
If you were a general partner, reduce
you was a partner in a partnership, the
included in Part III, line 6, and in
Part V, lines 1a and 2, for any section 179
spouse who was the partner must pay SE
information received from farm
expense deduction, oil or gas depletion,
tax on all of his or her share of
partnerships showing your distributive
and unreimbursed partnership expenses.
partnership income.
share.
Attach an explanation of these
Community income. Your own
deductions.
What Is Included in Net
distributive share of partnership income is
Earnings From
If your partnership was engaged solely
included in figuring your net earnings from
Self-Employment
in the operation of a group investment
self-employment. Unlike the division of
Generally, net earnings include your net
program, earnings from the operation are
that income between spouses for figuring
profit from a farm or nonfarm business. If
not self-employment earnings for either
income tax, no part of your share can be
you were a partner in a partnership, see
the general or limited partners.
included in figuring your spouse’s net
the following instructions.
earnings from self-employment.
If a partner died and the partnership
Partnership Income or Loss
Share Farming
continued, include in self-employment
When figuring your total net earnings from
income the deceased partner’s
You are considered self-employed if you
self-employment, include your share of
distributive share of the partnership’s
produced crops or livestock on someone
partnership income or loss attributable to
ordinary income or loss through the end
else’s land for a share of the crops or
SS-6
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