Form 1040 (SP) ANEXO 2: Impuestos Adicionales (2024)

What the Form Is For

Form 1040 Schedule 2 (Anexo 2 in Spanish) is an attachment to your main tax return (Form 1040, 1040-SR, or 1040-NR) used to report additional taxes that cannot be entered directly on the main form. Think of it as the overflow section for taxes beyond your standard income tax. This schedule captures a wide range of special taxes that apply to specific situations, from self-employment income to healthcare credits you need to repay, alternative minimum tax, additional Medicare taxes, and various other specialized taxes and recaptures of credits.

The schedule is divided into two main parts. Part I focuses on “Impuestos” (taxes) that get added to your income tax calculation early in the return—primarily the Alternative Minimum Tax (AMT) and repayments of certain credits. Part II covers “Otros Impuestos” (other taxes), which include self-employment tax, household employment taxes, additional Medicare tax, net investment income tax, retirement account penalties, and a comprehensive list of other specialized taxes ranging from recovering low-income housing credits to penalties on golden parachute payments.

Not everyone needs to file Schedule 2. You only attach it to your return if you owe at least one of the taxes listed on the form.

When You’d Use Form 1040 (SP) Anexo 2

Original Returns

Original Returns: You file Schedule 2 along with your Form 1040 when you prepare your original tax return for 2024, due by April 15, 2025 (or October 15, 2025, with an extension).

Late Returns

Late Returns: If you file after the April 15 deadline without an extension, you must still include Schedule 2 if required. Penalties and interest may apply unless you're filing a refund return.

Amended Returns

Amended Returns: Use Form 1040-X to amend any filing that affects Schedule 2. You generally have three years from the original filing date or two years from when you paid the tax.

Key Rules or Details for Tax Year 2024

Threshold Requirements

Several taxes apply only when income exceeds certain thresholds (e.g., Additional Medicare Tax, Net Investment Income Tax).

Self-Employment Tax Calculation

If you have $400+ in net self-employment income, you must file Schedule SE and report the resulting tax on Schedule 2.

Premium Tax Credit Reconciliation

If you received advance PTC payments, you must reconcile them on Form 8962. Excess credits may need to be repaid on Schedule 2.

Retirement Account Penalties

Early withdrawals before age 59½ usually trigger a 10% penalty unless an exception applies. Form 5329 is required either way.

Household Employment Taxes

If you paid a household employee $2,700+ in 2024, you must file Schedule H and report taxes on Schedule 2.

Supporting Documentation

Nearly every Schedule 2 line requires an attached form (e.g., Form 8959, Form 8960, Schedule SE).

Step-by-Step (High Level)

Step 1: Determine If You Need Schedule 2

Identify whether any taxes on Schedule 2 apply to your situation.

Step 2: Complete All Required Supporting Forms First

Finish forms such as Schedule SE, Form 8962, Form 6251, Form 8959, Form 8960, etc., before entering numbers on Schedule 2.

Step 3: Transfer Amounts to Schedule 2, Part I

Enter premium tax credit repayments, AMT, recaptured credits, and total them on line 3.

Step 4: Complete Schedule 2, Part II

Enter all other applicable taxes: self-employment tax, household employment tax, additional Medicare tax, etc.

Step 5: Calculate Totals and Transfer to Main Form

Add totals and transfer the final amounts to Form 1040 as directed.

Step 6: Attach All Forms and File

Attach Schedule 2 with all supporting forms in the required order.

Common Mistakes and How to Avoid Them

Forgetting to File Schedule 2 Entirely

Happens often with self-employment income. Always check for Schedule SE and Schedule 2 requirements.

Missing Supporting Forms

Failing to attach required forms (e.g., Form 5329, Schedule SE) leads to delays.

Miscalculating Self-Employment Tax

Errors usually involve gross vs. net income or incorrectly applying the 92.35% multiplier.

Incorrect Premium Tax Credit Reconciliation

Common with Marketplace coverage changes and incorrect income reporting.

Overlooking Additional Medicare Tax Withholding

Especially common with multiple employers.

Not Claiming Excess Social Security Tax Withheld

Important when you have multiple employers exceeding the Social Security wage base.

Improper Handling of Household Employees

Misclassification and failure to file Schedule H are frequent issues.

What Happens After You File

IRS Processing

Returns undergo automated and manual checks. E-filed returns usually process within 21 days.

Additional Tax Due

If additional taxes are owed, interest and penalties apply starting April 15.

Refunds

Some lines (e.g., excess Social Security tax withheld) may increase your refund.

IRS Notices and Corrections

You may receive notices such as CP2000, CP11, or CP12.

Audit Selection

Returns with significant Schedule 2 entries may have slightly higher audit likelihood.

State Tax Implications

Some Schedule 2 items affect AGI and therefore state returns.

FAQs

If I'm self-employed and only made a small amount of money, do I still need Schedule 2?

Yes—if you made $400 or more in net self-employment earnings, self-employment tax applies.

I withdrew money early from my IRA for a medical emergency. Do I owe the 10% penalty?

Maybe not—many exceptions apply, but you must file Form 5329 regardless.

My employer didn’t withhold enough for Medicare tax. Can I hold them responsible?

No. Additional Medicare Tax depends on household income, which employers cannot predict.

I received advance premium tax credit payments. Do I need to repay them?

Possibly, depending on your final household income and repayment caps.

I had multiple jobs and think too much Social Security tax was withheld. How do I get it back?

Claim the excess on Schedule 2, line 13.

Am I required to file Schedule 2 if I had foreign income and paid foreign taxes?

Not for foreign tax credit specifically, but foreign income may trigger other Schedule 2 taxes.

What’s the difference between Additional Medicare Tax and regular Medicare tax?

Additional Medicare Tax is an extra 0.9% on income above certain thresholds, calculated on Form 8959.