Taxes

1040EZ

What Do You Need?

To file your taxes you will need the W-2 supplied by your employer. You will also need your 1099 INT which is supplied by your bank. You will need to complete the 1040EZ by April 15th.

Line 1

Line 1 is for your salary, wages, and tips. You can find this number in box 1 of your W-2.

Line 2

Line 2 shows your taxable interest. You can find this in box 1 of your 1099INT.

Line 3

The instructions for Line 3 are included on the back of the 1040EZ document

Line 4

Line 4 is the sum of Lines 1, 2, and 3. This shows your adjusted gross income.

Line 5

Line 5 shows if you are financially independent or dependent. If you are claimed check the box which applies to you and follow the instruction on the back of the form.

Line 6

Line 6 shows your taxable income. To find this you must subtract Line 5 from line 4. If line 5 is larger than 4 enter 0

Line 7

Line 7 shows the federal income tax withheld. You can find this total in box 2 of your W2.

Line 8

Line 8 is the Earned Income Credit(EIC). Instructions for this are located on the back of the 1040EZ document.

Line 9

Line 9 shows your total payments and credits. To find this number you must add lines 7 and 8a.

Line 10

This line shows your tax total. You must use the total from line 6 and find your number in the tax table.

Line 11

This line shows if you have healthcare and are fully covered. Follow the instructions on the back of the 1040EZ

line 12

This shows your total tax. Add lines 10 and 12 to find this number.

Line 13

This shows if you are receiving a refund. If line 9 is larger than 12, subtract 12 from line 9. This is the amount that you will be refunded.

Line 14

If line 12 is larger than line 9, subtract line 9 from line 12. This is the total amount that you will owe.