2015 Publication 17 - Internal Revenue Service | An ...

1 Userid: CPMS chema: tipxLeadpct: 100%Pt. size: 8 Draft Ok to PrintAH XSL/XMLF ileid: .. ations/P17/ 2015 /A/XML/Cycle03/source(Ini t. & Date) _____Page 1 of 288 12:22 - 24-Dec- 2015 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before of the TreasuryInternal Revenue ServiceTAX GUIDE2015 Get forms and other information faster and easier at: (English) (Espa ol) ( ) ( ) (Pусский) (Ti ngVi t) Your FederalIncome TaxFor IndividualsPublication 17 Catalog Number 10311 GFor use in preparing2015 ReturnsDec 24, 2015 Page 2 of 288 Fileid.

2 Ations/P17/ 2015 /A/XML/Cycle03/source12:2 2 - 24-Dec- 2015 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before FederalIncome TaxFor IndividualsContentsWhat's One. The Income Tax Exemptions and Withholding and Estimated Two. , Salaries, and Other and Other Income and Plans, Pensions, and Security and Equivalent Railroad Retirement Three. Gains and of of Your Gains and Losses ..116 Part Four. Adjustments to Retirement Arrangements (IRAs).. Five. Standard Deduction and Itemized and Dental Casualty and Theft Expenses and Other Employee Business Benefits for Work-Related on Itemized Six.

3 Figuring Your Taxes and To Figure Your on Unearned Income of Certain and Dependent Care for the Elderly or the Tax Income Credit (EIC)..22637 Premium Tax Credit (PTC)..24138 Other Tax Tax Computation Tax Rate Rights as a To Get Tax To explanations and examples in this Publication reflect the interpretation by the Internal Revenue Service (IRS) of:Tax laws enacted by Congress,Treasury regulations, andCourt , the information given does not cover every situation and is not intended to replace the law or change its material in this Publication may be reprinted freely.

4 A citation to Your Federal Income Tax ( 2015 ) would be Publication covers some subjects on which a court may have made a decision more favorable to taxpayers than the interpretation by the IRS. Until these differing interpretations are resolved by higher court decisions or in some other way, this Publication will continue to present the interpretations by the taxpayers have important rights when working with the IRS. These rights are described in Your Rights as a Taxpayer in the back of this of the TreasuryInternal Revenue ServicePage 3 of 288 Fileid: .. ations/P17/ 2015 /A/XML/Cycle03/source12:2 2 - 24-Dec- 2015 The type and rule above prints on all proofs including departmental reproduction proofs.

5 MUST be removed before 's NewThis section summarizes important tax changes that took effect in 2015 . Most of these changes are discussed in more detail throughout this developments. For the latest information about the tax law topics covered in this Publication , such as legislation enacted after it was published, go to reporting about health coverage. If you or some-one in your family had health cov-erage in 2015 , the provider of that coverage is required to send a Form 1095-A, 1095-B, or 1095-C (with Part III completed) by January 31, 2016, that lists individuals in your family who were enrolled in the coverage and shows their months of coverage.

6 Use this infor-mation to help complete your re-turn. You do not need to attach these forms to your return. You may have had health care cover-age for some or all of 2015 even if you didn t receive a form with this information. See chapter 37 and the Form 1095-A, 1095-B, or 1095-C Instructions for Recipient for more reporting about em ployer offer of coverage. If you or someone in your family was an employee in 2015 , the employer may have sent you a Form 1095-C. Part II of Form 1095-C will show whether your employer offered you health insurance coverage and in-formation about the offer.

7 If you purchased health insurance cover-age for 2015 through the Health In-surance Marketplace and wish to claim the premium tax credit, this information will help you see if you are eligible for the credit. You do not need to attach Form 1095-C to your return. If you do not wish to claim the premium tax credit for 2015 , you do not need the informa-tion in Part II. Form 1095-C may in-clude information in Part III if you, or others in your family, enrolled in an employer s health plan. See chapter 37 for information about the premium tax care individual responsi bility payment increased.

8 If you or someone in your household didn t have qualifying health care coverage or qualify for a coverage exemption for one or more months of 2015 , the amount of your shared responsibility payment may be much higher this year than it was last year. Like last year, you must do one of the on your tax return that you, your spouse (if filing jointly), and anyone you can or do claim as a dependent had qualifying health care coverage throughout an exemption from the health care coverage require-ment for some or all of 2015 and attach Form 8965 to your a shared responsibility payment if, for any month in 2015 , you, your spouse (if fil-ing jointly)

9 , or anyone you can or do claim as a dependent didn t have coverage and does not qualify for a cover-age the Instructions for Form 8965 for to reconcile ad vance payments of the premium tax credit. If you or a family mem-ber enrolled in health insurance through the Marketplace and ad-vance payments of the premium tax credit were made to your insur-ance company to reduce your monthly premium payment, attach Form 8962 to your return to recon-cile (compare) the advance pay-ments with your premium tax credit for the year, which you figure on Form 8962. The Marketplace is re-quired to send Form 1095-A by January 31, 2016, listing the ad-vance payments and other infor-mation you need to figure your pre-mium tax credit.

10 Use Form 1095-A to complete Form 8962. Attach Form 8962 to your return. Do not attach Form 1095-A to your return. See chapter a Better Life Experi ence (ABLE) account. This is a new type of savings account for in-dividuals with disabilities and their families. For 2015 , you can contrib-ute up to $14,000. Distributions are tax-free if used to pay the benefi-ciary s qualified disability expen-ses. Don't deduct your contribu-tions on your tax return. For details, see Pub. date of return. File your tax return by April 18, 2016. The due date is April 18, instead of April 15, because of the Emancipation Day holiday in the District of Colum-bia even if you do not live in the District of Columbia.