How To Fill A 1040EZ
By: Odalis Terrazas
Get your forms ready to fill in your taxes
1) Fill all your personal information:
For you or if you are filing jointly with no dependents.
2) Line 1
Look at W-2 form (red arrow), on box 1, this is your wage.
3) Line 2:
You find this in you 1099-INT form from your bank, should be in box 1
4) Line 3:
This is your unemployment compensation, it should be $0
5) Line 4:
Do as follows: Add lines 1-3 and put the total on this line.
6) Line 5:
For this line, you have to fill out the line A-G on the back of this form. Whatever you put on line G will be put here.
7) Lines A-G:
Put the amount from line 1 ontop of the 350.00 to be able to add then put the total on line A, B is your minimum standard deduction, C is the larger number between what you put on line A or B, D: If single you put $6300, Married filing jointly you put $12,600. For E, you put the number from the smallest of line C or D, F: 0 if single or both you and your spouse are claimed as dependents, or if only one is dependent then you put $4000. Finally for G you add line E and F together.
8) Line 6:
Do as follows, only if the number from line 5 is larger than the the number on line 4, you will enter "0." This number is your taxable income.
9) Line 7:
Go back to your W-2 form and 1099 and look on box 2, this is the federal income tax, which is what you will put on line 7 for your 1040EZ.
10) Line 8a/b
This is your earned income credit, this only applies if you have dependents, if you don't then you put 0.
11) Line 9:
You will add line 7 and 8a together to your total payments and credits amount.
12) Line 10:
This is your tax, you are going to need a tax table. You are going to use line 6 and look for that number in the tax table to find out what your tax will be. Below is an example of a tax table.
13) Line 11:
This is your health care, if you have full-year coverage, check the box, and put the 0.
14) Line 12:
By adding line 10 and 11, you will get your total tax.
15) Line 13a-d
ONLY if line 9 is LARGER than line 12, you will do this step. Subtract line 12 from line 9, this would be your refund. Fill in the rest from your banking account.
16) Line 14:
If line 12 is LARGER than line 9, the subtract line 9 from 12 and this will be the AMOUNT YOU OWE.
17) Finishing up
Sign where it says your signature and you are done filling out your 1040EZ