How to Complete a 1040EZ
Sara Carrillo (Ms. Leonard Pd.10)
Forms That Are Needed
This is given to you by the bank.
This is used to file your federal income tax.
Tax Return Table
This is used to help find your tax.
Things to Know in Order to Complete
LINE 1: Wages, salaries, and tips.
LINE 2: Taxable Interest
LINE 3: Unemployment compensation and Alaska Permanent Fund dividends.
LINE 4: Adjust your Gross Income
LINE 5: Claimed?
First you will add up your amount form line 1 with 350.00 and enter your total in line A. Line B is already given to you. Line C asks to enter the larger number of line A or line B. In this case it will be line A (30,835). In line D, you enter 6,300 if single or $12,600 if married filing jointly. I would enter 6,300. Line E asks to put the smaller number of line C and D here. I would enter 6,300. Line F asks to enter 0 if single or both you and your spouse can be claimed as dependents and enter $4000 if only one of you can be claimed as a dependent. Finally, line G asks you to add lines E and F. I would enter 6,300. Therefore, 6,300 would be the number I enter on line 5 of the 1040EZ.
LINE 6: Taxable Income
LINE 7: Federal Income Tax withheld form Form(s) W-2 and 1099
LINE 8a: Earned income credit (EIC)
LINE b: Nontaxable combat pay election
LINE 9: Total Payments and credits
LINE 10: Tax
First you will have to look at the amount on line 6, which for me is 24,950. Then I would look under the column 24,000 because that is were the number falls. Next I would look for the number closest to 24,500. This would be near the two numbers 24,950 and 25,000. The third number that comes after them would be 3,285. This is the number that I would put down.