Instructions For Form 1040-Ss - U.s. Self-Employment Tax Return (Including The Additional Child Tax Credit For Bona Fide Residents Of Puerto Rico) - Internal Revenue Service - 2008
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Department of the Treasury
Internal Revenue Service
Instructions for Form
1040-SS
U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for
Bona Fide Residents of Puerto Rico)
You may also be required to file an
e. Puerto Rico (you may file either
Section references are to the Internal
income tax return with the government of
Form 1040-PR (in Spanish) or Form
Revenue Code unless otherwise noted.
Guam, American Samoa, the USVI, the
1040-SS).
General Instructions
CNMI, or Puerto Rico. Check with your
local tax office for more details.
Even if you have a loss or little
What’s New
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income from self-employment, it
Additional Information
may benefit you to file Form
For 2008, the maximum amount of
1040-SS and use either ‘‘optional
self-employment income subject to social
For assistance with Part III (Profit or Loss
method’’ in Part VI. See pages SS-7
security tax is $102,000.
From Farming), see the 2008 Instructions
and -8.
for Schedule F (Form 1040), Profit or
Conservation Reserve Program (CRP)
Loss From Farming, and Pub. 225,
payments. The Food, Conservation, and
If (2) and (3) above apply, you also
Farmer’s Tax Guide.
Energy Act of 2008 excludes CRP
must file Form 1040-SS (or you may use
payments from self-employment tax for
Form 1040-PR in Spanish if you are a
For assistance with Part IV (Profit or
individuals receiving social security
resident of Puerto Rico) to:
Loss From Business (Sole
•
benefits for retirement or disability. This is
Report and pay household employment
Proprietorship)), see the 2008 Instructions
effective for payments received after
taxes;
for Schedule C (Form 1040), Profit or
•
December 31, 2007. See the instructions
Report and pay employee social
Loss From Business, and Pub. 334, Tax
for Part V, line 1b, on page SS-6.
security and Medicare tax on (a)
Guide for Small Business (For Individuals
unreported tips, (b) wages from an
Optional methods to figure net
Who Use Schedule C or C-EZ).
employer with no social security or
earnings. Beginning after December 31,
For details on 2008 tax law changes,
Medicare tax withheld, or (c) uncollected
2007, the amount of gross and net
see Pub. 553, Highlights of 2008 Tax
social security and Medicare tax on tips or
income from self-employment you may
Changes.
group-term life insurance (see the
have when using the farm optional
instructions for Part I, line 5, on page
method or nonfarm optional method has
If you expect to owe SE tax of $1,000
SS-4);
increased. This allows electing taxpayers
or more for 2009, you may have to make
•
Claim excess social security tax
to secure up to four credits of social
estimated tax payments. Use Form
security benefits coverage. In future
withheld;
1040-ES, Estimated Tax for Individuals,
•
Claim the additional child tax credit
years, the thresholds will be indexed to
to make estimated tax payments.
maintain that level of coverage. See Part
(bona fide residents of Puerto Rico only);
Amended returns. File a new Form
and
VI — Optional Methods to Figure Net
•
1040-SS to change a Form 1040-SS you
Earnings beginning on page SS-7.
Claim the health coverage tax credit
already filed. If you filed Form 1040-SS
(bona fide residents of Puerto Rico only).
Reminder
but should have filed Form 1040, file a
corrected return on Form 1040. In either
When To File
You may be able to e-file Form 1040-SS if
case, at the top of page 1 of the corrected
you are claiming only the additional child
If you file on a calendar year basis, file by
return, enter “CORRECTED” in dark bold
tax credit. For general information about
April 15, 2009. If you file on a fiscal year
letters followed by the date. Generally, an
electronic filing, visit and
basis, file by the 15th day of the 4th
amended Form 1040-SS (or Form 1040, if
click on “Individual Taxpayers.”
month after the close of your fiscal year.
applicable) must be filed within 3 years
after the date on which the original return
Purpose of Form
Where To File
was filed or within 2 years after the tax
This form is for residents of the U.S.
was paid, whichever is later.
Department of the Treasury
Virgin Islands (USVI), Guam, American
Internal Revenue Service Center
Samoa, the Commonwealth of the
Who Must File
Austin, TX 73301-0215
Northern Mariana Islands (CNMI), and the
You must file Form 1040-SS if:
Commonwealth of Puerto Rico (Puerto
Amount You Owe
Rico) who are not required to file a U.S.
1. You, or your spouse if filing a joint
income tax return. One purpose of the
return, had net earnings from
Pay by Check or Money Order
form is to report net earnings from
self-employment (from other than church
self-employment to the United States and,
employee income) of $400 or more (or
Enclose your check or money order for
if necessary, pay self-employment (SE)
you had church employee income of
the full amount due with Form 1040-SS.
tax on that income. The Social Security
$108.28 or more — see Church
Make it payable to the “United States
Administration (SSA) uses this
Employees on page SS-3);
Treasury.” Do not send cash. Do not
information to figure your benefits under
2. You do not have to file Form 1040
attach the payment to your return. Enter
the social security program. SE tax
with the United States; and
“2008 Form 1040-SS” and your name,
applies no matter how old you are and
3. You are a resident of:
address, daytime phone number, and
even if you already are receiving social
a. Guam,
social security number (SSN) on your
security or Medicare benefits.
b. American Samoa,
payment. If you are filing a joint return,
See Who Must File, on this page, for
c. The USVI,
enter the SSN shown first on your Form
additional uses of this form.
d. The CNMI, or
1040-SS.
Cat. No. 26341Y
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