Form 1040 Instructions - 2015 Page 26
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105 2015 Form 1040—Lines 15b Through 16b
Generally, your total QCDs for the
only Exception 2 and one other excep-
or (b) you got your entire cost back tax
year can't be more than $100,000. (On a
tion apply.
free before 2015. But see Insurance Pre-
joint return, your spouse can also have a
miums for Retired Public Safety Offi-
More than one distribution. If you (or
QCD of up to $100,000.) The amount of
cers, later. If your pension or annuity is
your spouse if filing jointly) received
the QCD is limited to the amount that
fully taxable, enter the total pension or
more than one distribution, figure the
would otherwise be included in your in-
annuity
payments
(from
Form(s)
taxable amount of each distribution and
come. If your IRA includes nondeducti-
1099-R, box 1) on line 16b; do not make
enter the total of the taxable amounts on
ble contributions, the distribution is first
an entry on line 16a.
line 15b. Enter the total amount of those
considered to be paid out of otherwise
distributions on line 15a.
Fully taxable pensions and annuities
taxable income. See Pub. 590-A for de-
also include military retirement pay
You may have to pay an addi-
tails.
shown on Form 1099-R. For details on
!
tional tax if (a) you received
military disability pensions, see Pub.
You can't claim a charitable
an early distribution from your
CAUTION
525.
If
you
received
a
Form
!
contribution deduction for any
IRA and the total wasn't rolled over, or
RRB-1099-R, see Pub. 575 to find out
QCD not included in your in-
(b) you were born before July 1, 1944,
CAUTION
how to report your benefits.
come.
and received less than the minimum re-
quired distribution from your tradition-
Partially Taxable Pensions and
Exception 4. If the distribution is a
al, SEP, and SIMPLE IRAs. See the in-
Annuities
health savings account (HSA) funding
structions for line 59 for details.
distribution (HFD), enter the total distri-
Enter the total pension or annuity pay-
bution on line 15a. If the total amount
More information. For more informa-
ments (from Form 1099-R, box 1) on
distributed is an HFD and you elect to
tion about IRAs, see Pub. 590-A and
line 16a. If your Form 1099-R doesn't
exclude it from income, enter -0- on
Pub. 590-B.
show the taxable amount, you must use
line 15b. If only part of the distribution
the General Rule explained in Pub. 939
Lines 16a and 16b
is an HFD and you elect to exclude that
to figure the taxable part to enter on
part from income, enter the part that isn't
line 16b. But if your annuity starting
Pensions and Annuities
an HFD on line 15b unless Exception 2
date (defined later) was after July 1,
applies to that part. Enter “HFD” next to
1986, see Simplified Method, later, to
You should receive a Form 1099-R
line 15b.
find out if you must use that method to
showing the total amount of your pen-
An HFD is a distribution made di-
figure the taxable part.
sion and annuity payments before in-
rectly by the trustee of your IRA (other
come tax or other deductions were with-
You can ask the IRS to figure the tax-
than an ongoing SEP or SIMPLE IRA)
held. This amount should be shown in
able part for you for a $1,000 fee. For
to your HSA. If eligible, you generally
box 1 of Form 1099-R. Pension and an-
details, see Pub. 939.
can elect to exclude an HFD from your
nuity payments include distributions
If your Form 1099-R shows a taxable
income once in your lifetime. You can't
from 401(k), 403(b), and governmental
amount, you can report that amount on
exclude more than the limit on HSA
457(b) plans. Rollovers and lump-sum
line 16b. But you may be able to report a
contributions or more than the amount
distributions are explained later. Do not
lower taxable amount by using the Gen-
that would otherwise be included in your
include the following payments on lines
eral Rule or the Simplified Method or if
income. If your IRA includes nondeduc-
16a and 16b. Instead, report them on
the exclusion for retired public safety of-
tible contributions, the HFD is first con-
line 7.
ficers, discussed next, applies.
sidered to be paid out of otherwise taxa-
Disability pensions received before
ble income. See Pub. 969 for details.
you reach the minimum retirement age
Insurance Premiums for Retired
set by your employer.
The amount of an HFD re-
Public Safety Officers
!
Corrective distributions (including
duces the amount you can con-
If you are an eligible retired public safe-
any earnings) of excess salary deferrals
tribute to your HSA for the
CAUTION
ty officer (law enforcement officer, fire-
or excess contributions to retirement
year. If you fail to maintain eligibility
fighter, chaplain, or member of a rescue
plans. The plan must advise you of the
for an HSA for the 12 months following
squad or ambulance crew), you can elect
year(s) the distributions are includible in
the month of the HFD, you may have to
to exclude from income distributions
income.
report the HFD as income and pay an
made from your eligible retirement plan
additional tax. See Form 8889, Part III.
Attach Form(s) 1099-R to
that are used to pay the premiums for
Form 1040 if any federal
TIP
More than one exception applies. If
coverage by an accident or health plan
income tax was withheld.
more than one exception applies, include
or a long-term care insurance contract.
a statement showing the amount of each
You can do this only if you retired be-
Fully Taxable Pensions and
exception, instead of making an entry
cause of disability or because you
Annuities
next to line 15b. For example: “Line 15b
reached normal retirement age. The pre-
– $1,000 Rollover and $500 HFD.” But
miums can be for coverage for you, your
Your payments are fully taxable if (a)
you do not need to attach a statement if
spouse, or dependents. The distribution
you didn't contribute to the cost (see
must be from a plan maintained by the
Cost, later) of your pension or annuity,
-26-
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