How to Complete a 1040EZ

Sara Carrillo (Ms. Leonard Pd.10)

Forms That Are Needed

The forms that are needed are W2 Form, 1099-INT Form, Tax Return Table and the 1040EZ. The W2 form is given to you by your employer. It reports an employee's annual wages and the amount of taxes with held from his or her wages. The 1040EZ is used to file your federal income tax.

Things to Know in Order to Complete

Before you get started, you need to know that the 1040EZ is due on April 18. I would also suggest that you should know your earned income credit, combat pay, your full year coverage, if you are single or claimed by your parents, and if you want to donate $3 to a presidential campaign. The list below is n example of a person who does have all this stuff down.
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LINE 1: Wages, salaries, and tips.

In order to find this out, you will have to look in box 1 of your Form(s) W-2. In this case, the wages, salaries and tips would be 30,485.
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LINE 2: Taxable Interest

If the total is over $1,500, you cannot use Form 1040EZ. In this case it is not over so you look at box 1 on the 1099-INT form. It is 765.00.
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LINE 3: Unemployment compensation and Alaska Permanent Fund dividends.

For this part you will have to know on your own. As it is shown in the picture above, this person has no unemployment. So you would put down 0.
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LINE 4: Adjust your Gross Income

For this part, you would have to add up lines 1,2 and 3. When we added these lines, we got 31,250.
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LINE 5: Claimed?

In this line you will check if someone can claim you or your spouse. If no one can claim you or your spouse enter $10,300 if single; $20,600 if married filing jointly. You will have to use the Tax Return Table in order to find this out.


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.

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LINE 6: Taxable Income

To find your taxable income, you need to subtract line 5 from line 4. If line 5 is larger than line 4, enter 0. For me, I would subtract 31,250 (line 4) and 6,300 (line 5) and get 24,950 for line 6.
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LINE 7: Federal Income Tax withheld form Form(s) W-2 and 1099

For this part, you would have to look at box 2 under the W-2 form. In this case I would put down 2,345.22.
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LINE 8a: Earned income credit (EIC)

This is one of the things that you will have to know on your own. In this case, I would have o.

LINE b: Nontaxable combat pay election

This is also one of the things that you will have to know. In this case, I would also put down 0.
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LINE 9: Total Payments and credits

For line 9, you will have to add lines 7 and 8a. I would be adding 2,345.22 (line 7) and 0 (line 8a) and get 2,345.22 for line 9.
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LINE 10: Tax

Use the amount on line 6 above to find your tax in the tax table worksheet.


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.

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LINE 11: Health Care

This is an individuals responsibility. This is also something that you should know. In this case I would put 0.
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LINE 12: Total Tax

For this line, you will habe to add lines 10 and 11. I would add 3,285 (line 10) and 0 (line 11) and get 3,285 for line 12.
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LINE 13a: Refund

This is the part where you find out if you have refund or owe. If line 9 is larger than line 12, subtract line 12 from line 9. This will be your refund. In this case, line 9 is not larger than line 12 so I would have to go to line 14.

LINE 14: Amount you owe

This line will tell you the amount you owe. If line 12 is larger than line 9, subtract line 9 form line 12. I would subtract 2,345.22 (line 9) from 3,285 (line 12) and get $939.78 for line 14.
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FINISH

You have successfully filled out a 1040EZ. you now know where to get the forms from, who will give it to you, and what you owe or your refund.