Form 1040 Instructions - 2015 Page 22
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105 2015 Form 1040—Lines 7 Through 9a
with special needs and the adoption be-
than payments from an IRA*) are repor-
included in your 2015 income. For de-
came final in 2015.
ted on lines 16a and 16b. Payments from
tails, see Pub. 550.
Scholarship and fellowship grants
an IRA are reported on lines 15a and
If you get a 2015 Form
not reported on Form W-2. Also, enter
15b.
1099-INT for U.S. savings
TIP
“SCH” and the amount on the dotted
Corrective distributions from a re-
bond interest that includes
line next to line 7. However, if you were
tirement plan shown on Form 1099-R of
amounts you reported before 2015, see
a degree candidate, include on line 7 on-
excess salary deferrals and excess con-
Pub. 550.
ly the amounts you used for expenses
tributions (plus earnings). But do not in-
other than tuition and course-related ex-
clude distributions from an IRA* on
Line 8b
penses. For example, amounts used for
line 7. Instead, report distributions from
room, board, and travel must be reported
an IRA on lines 15a and 15b.
Tax-Exempt Interest
on line 7.
Wages from Form 8919, line 6.
Excess
salary
deferrals.
The
If you received any tax-exempt interest,
*This includes a Roth, SEP, or SIMPLE IRA.
amount deferred should be shown in
such as from municipal bonds, each pay-
box 12 of your Form W-2, and the “Re-
er should send you a Form 1099-INT.
tirement plan” box in box 13 should be
Were You a Statutory Employee?
Your tax-exempt interest should be
checked. If the total amount you (or
shown in box 8 of Form 1099-INT. En-
If you were, the “Statutory employee”
your spouse if filing jointly) deferred for
ter the total on line 8b. Also include on
box in box 13 of your Form W-2 should
2015 under all plans was more than
line 8b any exempt-interest dividends
be checked. Statutory employees include
$18,000 (excluding catch-up contribu-
from a mutual fund or other regulated
full-time life insurance salespeople and
tions as explained later), include the ex-
investment
company.
This
amount
certain agent or commission drivers,
cess on line 7. This limit is (a) $12,500
should be shown in box 10 of Form
traveling salespeople, and homeworkers.
if you have only SIMPLE plans, or (b)
1099-DIV.
If you have related business expenses to
$21,000 for section 403(b) plans if you
Do not include interest earned on
deduct, report the amount shown in
qualify for the 15-year rule in Pub. 571.
your IRA, health savings account, Arch-
box 1 of your Form W-2 on Schedule C
Although designated Roth contributions
er or Medicare Advantage MSA, or
or C-EZ along with your expenses.
are subject to this limit, do not include
Coverdell education savings account.
the excess attributable to such contribu-
Missing or Incorrect Form W-2?
tions on line 7. They are already inclu-
Line 9a
ded as income in box 1 of your Form
Your employer is required to provide or
W-2.
send Form W-2 to you no later than
Ordinary Dividends
February 1, 2016. If you do not receive
A higher limit may apply to partici-
Each payer should send you a Form
it by early February, use
Tax Topic 154
pants in section 457(b) deferred com-
1099-DIV. Enter your total ordinary div-
to find out what to do. Even if you do
pensation plans for the 3 years before re-
idends on line 9a. This amount should
not get a Form W-2, you must still re-
tirement age. Contact your plan adminis-
be shown in box 1a of Form(s)
port your earnings on line 7. If you lose
trator for more information.
1099-DIV.
your Form W-2 or it is incorrect, ask
If you were age 50 or older at the end
your employer for a new one.
You must fill in and attach Sched-
of 2015, your employer may have al-
ule B if the total is over $1,500 or you
Line 8a
lowed an additional deferral (catch-up
received, as a nominee, ordinary divi-
contributions) of up to $6,000 ($3,000
dends that actually belong to someone
Taxable Interest
for section 401(k)(11) and SIMPLE
else.
plans). This additional deferral amount
Each payer should send you a Form
isn't subject to the overall limit on elec-
Nondividend Distributions
1099-INT or Form 1099-OID. Enter
tive deferrals.
your total taxable interest income on
Some distributions are a return of your
You can't deduct the amount
line 8a. But you must fill in and attach
cost (or other basis). They won't be
!
deferred. It isn't included as
Schedule B if the total is over $1,500 or
taxed until you recover your cost (or
income in box 1 of your Form
any of the other conditions listed at the
CAUTION
other basis). You must reduce your cost
W-2.
beginning of the Schedule B instructions
(or other basis) by these distributions.
apply to you.
After you get back all of your cost (or
Disability pensions shown on Form
other basis), you must report these dis-
1099-R if you have not reached the min-
For more details about reporting taxa-
tributions as capital gains on Form 8949.
imum retirement age set by your em-
ble interest, including market discount
For details, see Pub. 550.
ployer. But see Insurance Premiums for
on bonds, see Pub. 550.
Retired Public Safety Officers in the in-
Interest credited in 2015 on deposits
structions for lines 16a and 16b. Disabil-
that you couldn't withdraw because of
ity pensions received after you reach
the bankruptcy or insolvency of the fi-
minimum retirement age and other pay-
nancial institution may not have to be
ments shown on Form 1099-R (other
-22-
Need more information or forms? Visit IRS.gov.
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