Table of Contents
Future developments. For information about any additional changes to the 2012 tax law or any other developments affecting Form 1040NR or its instructions, go to www.irs.gov/form1040nr.
Tax benefits extended. Several temporary tax benefits have been extended through 2013, including the following.
Deduction for educator expenses in figuring adjusted gross income (line 24).
Credit for nonbusiness energy property (line 49).
Exclusion from income of qualified charitable distributions (see the instructions for lines 16a and 16b).
Standard mileage rates. The 2012 rate for business use of your vehicle remains 55½ cents a mile. The 2012 rate for use of your vehicle to move is decreased to 23 cents a mile. The 2012 rate for use of your vehicle to do volunteer work for certain charitable organizations remains 14 cents a mile.
Roth IRAs. If you converted or rolled over an amount to a Roth IRA in 2010 and did not elect to report the taxable amount on your 2010 return, you generally should have reported half of it on your 2011 return. Report the rest on your 2012 return. Report the amount that is taxable on your 2012 return on line 16b (for conversions from IRAs) or 17b (for rollovers from qualified retirement plans, other than from a designated Roth account). See the instructions for lines 16a and 16b and lines 17a and 17b.
Designated Roth accounts. If you rolled over an amount from a 401(k) or 403(b) plan to a designated Roth account in 2010 and did not elect to report the taxable amount on your 2010 return, you generally should have reported half of it on your 2011 return. Report the rest on your 2012 return. See the instructions for lines 17a and 17b.
Schedule 8812. Use Schedule 8812 (Form 1040A or 1040) to figure your additional child tax credit for 2012. Schedule 8812 is new for 2012. Form 8812 is no longer in use. See the instructions for line 63.
Portfolio interest. Interest payments on foreign bearer obligations (bonds not issued in registered format and held by nonuse holders) issued on or after March 19, 2012, are not eligible for the portfolio interest exception to withholding. For more information, see Interest in Pub. 515, Withholding of Tax on Nonresident Aliens and Foreign Entities, and Pub. 519, U.S. Tax Guide for Aliens.
Expired tax benefits. The District of Columbia first-time homebuyer credit cannot be claimed for homes bought after 2011. The adoption credit stopped being refundable at the end of 2011. That is why line 67, box b, is shown as “Reserved.” You can claim the adoption credit on line 50. See the instructions for line 50.
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