Consumers ED Tax Return Project

How To Fill Out Form 1040EZ

Employer´s Name, Address, and Zip Code.

Arnold Johnson,

2000 W North Ave Chicago, IL 60639

Forms Needed To Complete Taxes

The Forms that you will need are Form 1040ez, Form W-2, Tax table, and your income.

Completing line 1 (Wages, Salaries, Tips)

In line 1, you put the total amount you have earned in the whole year which would be in box 1 of form W-2. In the example the total amount of Johnson is $30,485.00 You will place this amount in the first line of Form 1040EZ.

Completing Line 2 (Taxable Interest)

In line 2, you will put the amount of money shown in line one in the form W-2 in the section interest income. In this Example the amount is $765.00 but if the amount is over $1,500.00 you will not be able to fill out form 1040EZ.

Completing line 3

In line 3, if there no shown information about Unemployment compensation or Alaska permanent fund in form W-2, You will place 0 in line 3 of the form 1040Z.

Completing Line 4 (Adjusted Gross Income)

In line 4, you will add line 1,2, and 3. You will place this total in line 4 of form 1040EZ. In this example, Johnson will be adding, $30,485.00 + $765.00 + 0. His total amount is $31,250.00.

Completing Line 5

In line 5, turn to the back of form 1040EZ. Fill out the information and the total in letter G will be the amount you will place in line 5.

Completing Line 6 (Taxable Interest)

In line 6, subtract line 5 and 4. If the amount of line 5 is greater than the amount of line 4, you will place 0 in line 6. In this example Johnson subtracted $31,250.00 - $6,300. His total amount was $24,950.

Completing Line 7 ( Federal Income Withheld)

In line 7, you will place the amount of federal income withheld shown in box 2 of form W-2. In the example, Johnson federal income withheld was of $2,345.22.

Completing Line 8 A and B

In line 8a, if you have not earned any income credit place a 0. If you have earned income credit place the amount earned in line 8a. In line 8b, if you have not been in combat place a zero. If you have place the taxable amount.

Completing line 10 (tax table)

Use the tax table in back of form W-2 to fine your tax. Use the amount of line 6 to find your tax in the table. look for your total of line 6 and the number in the third column will be your tax. Place this amount in line 10.

Completing 11 (health care)

In line 11, if you don´t have healthcare or have full year coverage place a zero. If you do have health care place the tax amount.

Completing line 12 (total tax)

In line 12, add the amount of lines 10 and 11.

Completing Line 13 a,b,c, and d

In line 13a, if line 9 is greater than line 12, subtract them and the total is your refund. If line 9 is not greater than line 12 move to line 14. For line 13b, 13c, and 13d, place your bank account information.

Completing line 14

in line 14, if line 9 is not greater than line 12, subtract line 9 from 12 and the total will be what you owe.