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 - 2003 Page 5
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8tax because you were a bona fide
benefits. Also include any profit or
Line 1
resident of Puerto Rico. This includes
(loss) from Part III, line 36, and Part IV,
For purposes of the additional child tax
items such as wages, interest,
line 27. For more information on these
credit, you must report all of your
dividends, taxable pensions and
and other types of income to include on
income derived from sources within
annuities, and taxable social security
line 1, see the Form 1040 instructions.
Puerto Rico that is excluded from U.S.
Additional Child Tax Credit Worksheet—Part II, Line 3
Keep for Your Records
!
CAUTION
If you received (before offset) an advance child tax credit payment, see Advance Child Tax Credit
Payment on page 4 before you complete the worksheet.
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, if any, of your advance child tax credit payment (before offset). For details,
see page 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
4.
Is line 2 less than or equal to line 3?
Yes. Stop. You cannot claim the credit. If line 3 is more than line 2, you do not have to pay back
the difference.
No. Subtract line 3 from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
5.
Enter the amount from Part II, line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
6.
Enter the amount shown below for your filing status . . . . . . . . . . . . . . . . . . . . . 6.
•
Married filing jointly — $110,000
•
Single — $75,000
•
Married filing separately — $55,000
7.
Is the amount on line 5 more than the amount on line 6?
No. Leave line 7 blank. Enter -0- on line 8.
Yes. Subtract line 6 from line 5. 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.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.
8.
Multiply the amount on line 7 by 5% (.05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
9.
Is the amount on line 4 more than the amount on line 8?
No. Stop. You cannot claim the credit.
Yes. Subtract line 8 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
10. Enter one-half of the amount from Part V, line 12, here . . . . . . . . . . . . . . . . . . 10.
11. 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Add lines 10 and 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Enter the amount, if any, from Part I, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
14. Is the amount on line 12 more than the amount on line 13?
No. Stop. You cannot claim the credit.
Yes. Subtract line 13 from line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.
15. Additional child tax credit. Enter the smaller of line 9 or line 14 here and on
Form 1040-SS, Part II, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
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