Publication 225 |
2000 Tax Year |
Forms You May Need To File
When filing your income tax return, arrange your forms and
schedules in the correct order using the sequence number located in
the upper right corner of each form. Attach all other statements or
attachments last, arranged in the same order as the forms or schedules
they support.
Farmers can use the following forms and schedules. Some of them are
illustrated in chapter 20.
Form 1040.
This form is the income tax return. List taxable income from all
sources on Form 1040, including profit or loss from farming operations
as figured on Schedule F (Form 1040). Figure the tax on this form,
also.
Schedule A, Itemized Deductions.
List nonbusiness itemized deductions on this schedule.
Schedule B, Interest and Ordinary Dividends.
Report interest or dividend income of more than $400 on this
schedule.
Schedule C, Profit or Loss From Business.
List income and deductions and determine the net profit or loss
from a nonfarm business on this schedule.
Schedule C-EZ, Net Profit From Business.
Use this schedule in place of Schedule C if nonfarm business
expenses are $2,500 or less and other requirements are met.
Schedule D, Capital Gains and Losses.
Report gains and losses from sales of capital assets on this
schedule.
Schedule E, Supplemental Income and Loss.
Report income or losses from rents, royalties, partnerships,
estates, trusts, and S corporations on this schedule.
Schedule F, Profit or Loss From Farming.
Use this schedule to list all farm income and deductions and
determine your net farm profit or loss.
Schedule SE, Self-Employment Tax.
Figure self-employment tax on this schedule. See chapter 15.
Form 2210.
Figure any underpayment of estimated tax and the penalty on Form
2210, Underpayment of Estimated Tax by Individuals, Estates, and
Trusts.
Form 2210-F.
Figure any underpayment of estimated tax and the penalty on Form
2210-F, Underpayment of Estimated Tax by Farmers and
Fishermen, if you are a qualified farmer.
Form 3468.
Figure the investment credit on Form 3468, Investment Credit.
See chapter 9.
Form 3800.
Figure the general business credit on Form 3800, General
Business Credit. See chapter 9.
Form 4136.
Figure the credit for federal excise tax on gasoline and special
fuels on Form 4136, Credit for Federal Tax Paid on Fuels.
See chapter 18.
Form 4255.
Figure the increase in tax from the recapture of investment credit
on Form 4255, Recapture of Investment Credit. See chapter 9.
Form 4562.
Claim deductions for depreciation and amortization and elect the
section 179 deduction on Form 4562, Depreciation and
Amortization. See chapter 8.
Form 4684.
Report gains and losses from business and nonbusiness casualties
and thefts on Form 4684, Casualties and Thefts. See chapter 13.
Form 4797.
Report gains and losses from the sale or exchange of business
property and from certain involuntary conversions on Form 4797,
Sales of Business Property. See chapter 11.
Form 4835.
Report farm rental income on Form 4835, Farm Rental Income and
Expenses, if you received it as a share of crops or livestock
produced by a tenant and you, the landlord, did not materially
participate in the operation or management of the farm. See chapter 4.
Form 6251.
Figure the alternative minimum tax on Form 6251, Alternative
Minimum Tax--Individuals. See chapter 14.
Form 8824.
Report the exchange of business or investment property for
like-kind property on Form 8824, Like-Kind Exchanges. If
you have any taxable gain, you must also file Schedule D (Form 1040)
or Form 4797. See chapter 10.
Other Forms
You may have to file the forms below in certain situations.
If the last day for filing your form falls on a Saturday, Sunday,
or legal holiday, your form will be on time if it is filed on the next
business day.
Form 940.
If you paid wages subject to FUTA tax during a calendar year, file
Form 940, Employer's Annual Federal Unemployment (FUTA) Tax
Return, by January 31 of the following year. If all the tax due
was deposited by January 31, you can file Form 940 as late as February
10. See chapter 16.
Form 940-EZ.
Form 940-EZ is a simplified version of Form 940. See chapter 16.
Form 943.
If you paid wages for farm labor during a calendar year that were
subject to social security and Medicare taxes or income tax
withholding, file Form 943, Employer's Annual Tax Return for
Agricultural Employees, by January 31 of the following year. If
you deposited all the tax due by January 31, you can file Form 943 as
late as February 10.
Form 1040-ES.
Figure and pay estimated tax on Form 1040-ES, Estimated
Tax for Individuals. See Estimated Tax Payment and Return
Due Dates, earlier.
Form 1065.
A farm partnership files Form 1065, U.S. Return of Partnership
Income, by the 15th day of the 4th month following the date the
partnership tax year ended, as shown at the top of Form 1065. For
calendar year partnerships, the due date is April 15. See
Partnership, later.
Form 1120.
A corporation files Form 1120, U.S. Corporation Income Tax
Return, by the 15th day of the 3rd month following the date the
corporation tax year ended, as shown at the top of Form 1120. For
calendar year corporations, the due date is March 15. See
Corporation, later.
Form 1120-A.
Many small corporations can use Form 1120-A, U.S.
Corporation Short-Form Income Tax Return, instead of Form 1120.
Form 1120S.
An S corporation files Form 1120S, U.S. Income Tax Return for
an S Corporation, by the 15th day of the 3rd month following the
date the S corporation tax year ended, as shown at the top of Form
1120S. For calendar year S corporations, the due date is March 15. See
S Corporation, later.
Form 2290.
If you use certain vehicles on public highways, such as a truck or
truck tractor, registered or required to be registered in your name,
file Form 2290, Heavy Highway Vehicle Use Tax Return, for
the following purposes.
- To figure and pay the tax due on heavy highway vehicles
(taxable gross weight 55,000 pounds or more) used during the period
from July 1 to June 30.
- To claim an exemption from the tax when the vehicle is
expected to be used 5,000 miles or less (7,500 for agricultural
vehicles) during the period.
See the instructions for Form 2290.
Form 4868.
Apply for an extension of time to file your tax return on Form
4868, Application for Automatic Extension of Time To File U.S.
Individual Income Tax Return. Filing this form does not,
however, extend the time to pay any tax due.
Form 8109.
Employment taxes not deposited electronically are deposited with
Form 8109, Federal Tax Deposit Coupon. In general, income
tax withheld plus the employer and employee's share of social security
and Medicare taxes that total $1,000 or more for the year must be
deposited. The IRS will send you a coupon book for making deposits 5
to 6 weeks after you receive an employer identification number (EIN).
Under certain circumstances you must deposit taxes electronically.
See chapter 16.
Form 8822.
Notify the IRS of a change in your home or business address with
Form 8822, Change of Address. Be sure to include your
suite, room, or other unit number.
Ordering forms.
See chapter 21
for information about getting any of the forms
listed in this section.
Information Returns
These returns provide information the IRS requires, other than
taxes due. There are many different information returns. This
discussion, however, is limited to Form W-2, Form
1099-INT, Form 1099-MISC, and Form 1096.
If the last day for filing your information return falls on a
Saturday, Sunday, or legal holiday, your form will be on time if it is
filed on the next business day.
Form W-2.
If you are in a trade or business such as farming and you employ
paid workers, prepare Form W-2, Wage and Tax Statement,
for each employee, including any payment that was not in cash.
You must show, in the space marked Wages, tips, other
compensation, the total paid to the employee. Give copies B, C,
and 2 of Form W-2 to the employee generally by the last day of
January. Send Copy A of each Form W-2 to the Social Security
Administration with a completed Form W-3, Transmittal of
Wage and Tax Statements, by the last day of February. See
chapter 16.
Form 1099-INT.
Report interest of $600 or more paid during the calendar year in
the course of your farm business, including interest on installment
sale contracts, on Form 1099-INT, Interest Income.
Form 1099-MISC.
If you make total payments of $600 or more during the calendar year
to another person, other than a corporation, in the course of your
farm business, you must file information returns to report these
payments. Report on Form 1099-MISC, Miscellaneous Income,
payments of $600 or more made for custom harvesting, crop
spraying, services of a veterinarian, rents, commissions, fees,
prizes, awards, and services provided by nonemployees. Payments of $10
or more for royalties are also reported on Form 1099-MISC.
Form 1099-MISC is also used to report to the payee, and to
the IRS, payments you made that were subject to backup withholding and
the amounts you withheld, regardless of the amount of the payment.
Report payments for compensation to employees on Form W-2,
not on Form 1099-MISC. See chapter 16.
Preparation of returns.
If you are required to file Forms 1099-INT or Forms
1099-MISC, you must prepare a separate form for each payee. File
one copy of each form with the IRS by February 28 of the year
following the calendar year the payments were made. Give the payee a
statement (or copy of the form) by January 31 of the following year.
These forms are read by machine and there are very specific
instructions for their preparation and submission. See the
Instructions for Forms 1099, 1098, 5498, and W-2G.
Form 1096.
When sending copies to the IRS, use a separate transmittal, Form
1096, Annual Summary and Transmittal of U.S. Information Returns,
for each different type of form.
Penalties.
If you file information returns late, without all information
required to be on the return, or with incorrect information, you may
be subject to a penalty. See the Instructions for Forms 1099,
1098, 5498, and W-2G for information on Form 1099
penalties.
Backup withholding.
In certain cases, the law requires you to withhold income tax at a
rate of 31% (backup withholding) on payments reportable on information
returns, including commissions, nonemployee compensation, and other
payments you make for services in your farm business or other business
activities. The backup withholding rules do not apply to wages,
pensions, or annuities.
See the Instructions for Forms 1099, 1098, 5498, and
W-2G for more information.
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