How to Complete a 1040EZ

Must complete by April 17 for 2017 taxes!

WHAT forms you need WHO to send it to WHERE to get them

WHAT:
  • 1040EZ
  • Form W-2
  • 1099INT
  • Tax Table Chart

WHO:

  • IRS

WHERE:

  • W-2 receive from employer
  • 1099INT from bank

Pictures of Forms

Big image

How to Fill in Lines on 1040EZ

Line 1: Total wages and income. Found on W-2 form from employer.

Line 2: Taxable interest. Found on 1099INT form from bank.

Line 3: No unemployment, enter 0.

Line 4: Adjusted gross income. Add lines 1, 2, 3.

Line 5: *refer to bottom of flyer on how to fill out*

Line 6: Subtract line 5 from 4. This is your taxable income.

Line 7: Federal tax withheld can be found on W-2 form.

Line 8: No earned income, enter 0.

Line 9: Add lines 7 and 8a.

Line 10: Depending on amount on line 6, this is found on the tax table.

Line 11: Full year coverage for health care, enter 0.

Line 12: Add lines 10 and 11. This is total tax.

Line 13a: If line 9 is larger than 12, subtract line 12 from 9. This would be your refund and what you get back.

Lines 13b-d: Bank account information

Line 14: If line 12 is larger than 9, subtract 9 from 12. This is what you would owe back to the IRS.

#5 on 1040EZ

A. Add total wages + 350

B. Minimum standard deduction (given)

C. Enter larger number of line A or B

D. Maximum standard deviation.

If single, enter $6,300. If married and filing jointly enter $12,600.

E. Enter smaller amount of C or D

F. Exemption Amount

If single, enter 0. If married and filing jointly and both claim as dependents, enter 0. If only one can be claimed as a dependent, enter $4000.

G. Add E and F. Enter total on line 5