Filling Out Your 1040EZ
Read This to Learn How to Fill Out Your 1040EZ
Your taxes need to be filed and sent in by April 15th, and you need your W-2 and W-4 forms to fill this out. You will also need the tax table chart.
Income
Lines 1,2,3
You must have the W-2 and W-4 forms to fill this out because it asks for amount located on those forms. This is what Arnold Johnson's looks like.
Line 4
You must add up lines 1-3 to get your gross income like Arnold Johnson. This is what his number is.
Line 5 and 6
You must fill out the back of the form in order to have the right number. Here is what to do based on Arnold Johnson's form. In line 6 you must subtract line 5 from line 4 to get this number. Here is Arnold Johnson's
Payments, Credits, and Tax
Line 7
For this line you must write down the amount in box 2 of your W-4 labeled Federal Income Tax Withheld.
Lines 8a and 9
For line 8a you must know how much earned income credit(EIC) you get. Arnold Johnson doesn't have any, so his number is 0. Then you add up lines 7 and 8a in order to get line 9. Here is Johnson's.
Line 10
For line 10, you must look at the Tax Table for the amount on line 6. Since Johnson's amount is 24,950, that is the amount he looks for. Then you put that number on line 10.
Lines 11-12
For line 11, you must know if you get healthcare. Johnson gets full-year coverage for health care, so he doesn't pay anything. To get line 12 you must add lines 10 and 11. Johnson would put the amount 3,285 for line 12 as seen above.
Refund and Amount You Owe
Based off of lines 9 and 12 you can figure out if you get a refund or if you owe anything. If line 9 is bigger then you will get a refund, but if line 12 is bigger, you will owe money. Arnold Johnson's line 12 was bigger, so he ended up owing money. He ended up owing $939.78. Above is what the finished form should look like.