Instructions For Form 1040 - U.s. Individual Income Tax Return - 2017 Page 22
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107 2017 Form 1040—Lines 7 Through 9a
with special needs and the adoption be-
ted on lines 16a and 16b. Payments from
included in your 2017 income. For de-
came final in 2017.
an IRA are reported on lines 15a and
tails, see Pub. 550.
Scholarship and fellowship grants
15b.
If you get a 2017 Form
not reported on Form W-2. Also, enter
Corrective distributions from a re-
1099-INT for U.S. savings bond
TIP
“SCH” and the amount on the dotted
tirement plan shown on Form 1099-R of
interest that includes amounts
line next to line 7. However, if you were
excess elective deferrals and excess con-
you reported before 2017, see Pub. 550.
a degree candidate, include on line 7 on-
tributions (plus earnings). But don’t in-
ly the amounts you used for expenses
clude distributions from an IRA* on
Line 8b
other than tuition and course-related ex-
line 7. Instead, report distributions from
penses. For example, amounts used for
an IRA on lines 15a and 15b.
Tax-Exempt Interest
room, board, and travel must be reported
Wages from Form 8919, line 6.
on line 7.
*This includes a Roth, SEP, or SIMPLE IRA.
If you received any tax-exempt interest
Excess elective deferrals. The
(including any tax-exempt original issue
amount deferred should be shown in
discount (OID)), such as from municipal
box 12 of your Form W-2, and the “Re-
Were You a Statutory Employee?
bonds, each payer should send you a
tirement plan” box in box 13 should be
Form 1099-INT or a Form 1099-OID. In
If you were, the “Statutory employee”
checked. If the total amount you (or
general, your tax-exempt stated interest
box in box 13 of your Form W-2 should
your spouse if filing jointly) deferred for
should be shown in box 8 of Form
be checked. Statutory employees include
2017 under all plans was more than
1099-INT or, for a tax-exempt OID
full-time life insurance salespeople and
$18,000 (excluding catch-up contribu-
bond, in box 2 of Form 1099-OID and
certain agent or commission drivers,
tions as explained later), include the ex-
your tax-exempt OID should be shown
traveling salespeople, and homeworkers.
cess on line 7. This limit is (a) $12,500
in box 11 of Form 1099-OID. Enter the
If you have related business expenses to
if you have only SIMPLE plans, or (b)
total on line 8b. However, if you ac-
deduct, report the amount shown in
$21,000 for section 403(b) plans if you
quired a tax-exempt bond at a premium,
box 1 of your Form W-2 on Schedule C
qualify for the 15-year rule in Pub. 571.
only report the net amount of tax-ex-
or C-EZ along with your expenses.
Although designated Roth contributions
empt interest on line 8b (that is, the ex-
are subject to this limit, don’t include
cess of the tax-exempt interest received
Missing or Incorrect Form W-2?
the excess attributable to such contribu-
during the year over the amortized bond
tions on line 7. They already are inclu-
premium for the year). Also, if you ac-
Your employer is required to provide or
ded as income in box 1 of your Form
quired a tax-exempt OID bond at an ac-
send Form W-2 to you no later than
W-2.
quisition premium, only report the net
January 31, 2018. If you don’t receive it
amount of tax-exempt OID on line 8b
by early February, use
Tax Topic 154
to
A higher limit may apply to partici-
(that is, the excess of tax-exempt OID
find out what to do. Even if you don’t
pants in section 457(b) deferred com-
for the year over the amortized acquisi-
get a Form W-2, you still must report
pensation plans for the 3 years before re-
tion premium for the year). See Pub. 550
your earnings on line 7. If you lose your
tirement age. Contact your plan adminis-
for more information about OID, bond
Form W-2 or it is incorrect, ask your
trator for more information.
premium, and acquisition premium.
employer for a new one.
If you were age 50 or older at the end
Also include on line 8b any ex-
Line 8a
of 2017, your employer may have al-
empt-interest dividends from a mutual
lowed an additional deferral (catch-up
fund or other regulated investment com-
Taxable Interest
contributions) of up to $6,000 ($3,000
pany. This amount should be shown in
for section 401(k)(11) and SIMPLE
Each payer should send you a Form
box 10 of Form 1099-DIV.
plans). This additional deferral amount
1099-INT or Form 1099-OID. Enter
isn't subject to the overall limit on elec-
Don’t include interest earned on your
your total taxable interest income on
tive deferrals.
IRA, health savings account, Archer or
line 8a. But you must fill in and attach
Medicare Advantage MSA, or Coverdell
You can't deduct the amount
Schedule B if the total is over $1,500 or
!
education savings account.
deferred. It isn't included as in-
any of the other conditions listed at the
come in box 1 of your Form
beginning of the Schedule B instructions
CAUTION
Line 9a
W-2.
apply to you.
Ordinary Dividends
For more details about reporting taxa-
Disability pensions shown on
ble interest, including market discount
Form 1099-R if you haven’t reached the
Each payer should send you a Form
on bonds and adjustments for amortiza-
minimum retirement age set by your em-
1099-DIV. Enter your total ordinary div-
ble bond premium or acquisition premi-
ployer. But see Insurance Premiums for
idends on line 9a. This amount should
um, see Pub. 550.
Retired Public Safety Officers in the in-
be shown in box 1a of Form(s)
structions for lines 16a and 16b. Disabil-
1099-DIV.
Interest credited in 2017 on deposits
ity pensions received after you reach
that you couldn't withdraw because of
minimum retirement age and other pay-
You must fill in and attach Sched-
the bankruptcy or insolvency of the fi-
ments shown on Form 1099-R (other
ule B if the total is over $1,500 or you
nancial institution may not have to be
than payments from an IRA*) are repor-
received, as a nominee, ordinary divi-
-22-
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