Filling out your taxes

By: Noe Navar

What you will need

  • - A 1040EZ form that is given to you by the department of treasury.
  • - A W-2 form which is given to you by your employer.
  • - A tax return chart

Getting started

On line 1 of the 1040EZ you put your income that can be found on box one of the W-2 form. For this example we're gonna use 30,485 dollars. On line two you put your taxable interest which can be found under "interest income" on the w-2 form. We'll use 765 dollars. on line three is the unemployment compensation but we're gonna use 0. On line 4 you add up lines 1-3 and that is your adjusted gross income. The total for our example is 31,250 dollars.

For line 5 we flip the 1040EZ over and fill out the back. For line A we put 30,485 dollars because that's the amount from line 1. Line B is already filled out for you and is the minimum standard deduction. For line C we put 30,485 because it's the bigger of A and B. For line D we enter 6,300 because for this example we're single. If we were married it would be 12,600. For line E we put 6,300 because it's the smaller of line C and D. For line F we put 0 because we are single for this example. Adding lines E and F we get 6,300 which is line G and also line 5 on the front of the 1040EZ form.

For line 6 we subtract line 5 from 4 and get 24,950 for this example. For line seven we look at box two on the W-2 form to get our federal income tax withheld. For our example we'll use 2,345.22 dollars. For line 8a and 8b we'll use 0 for both. On line 9 we add 7 and 8a and since 8a was zero our total payments and credits is 2,345.22 dollars.

On line 10 we look at the tax table to find our taxes. We use the number on line 6 for this. Our total for line 10 is 3,285 dollars.

On line 11 we'll use 0 for the health care. For line 12 we add lines 10 and 11 and the total comes out to be 3,285. Since line 13 is bigger than line 9 we use box 14 and find the difference between the two. This means that this person we're using as an example is going to owe 939.78 dollars. That is how you fill out taxes.