As a taxpayer, you can file your tax return with IRS Form 1040, 1040A or 1040EZ, depending on your tax situation.
How do you know which form you should use?
you can still use Form 1040, regardless of whether you are eligible to use Form 1040A or 1040EZ.
1040A and 1040EZ forms are just simplified, shorter versions of 1040. They are intended for people with simple tax returns.
The benefits of Form 1040A or 1040EZ is that they are easy to fill and easy to read.
Form 1040EZ, for example, is a form -page. When you fill your name, address and social security number, you, Aore almost halfway.
What could be easier?
timeOn the other hand, you can save, but missing on tax benefits and pay more taxes than you should opt for a form of taxation shorter.
If you get a tax refund, your refund may not be as great as it could be.
What, AOS the difference between Form 1040, 1040A and 1040EZ?
three forms are basically the same, with one difference. Form 1040EZ is for simple returns.
Form 1040A covers a little more information. And regular Form 1040 allows you to report all types of tax information.
All forms use the same tables to calculate your income tax.
What are the requirements for the filing of the easiest tax form?
Some items on a return trigger the need to use forms 1040A or 1040, rather than the Form 1040EZ.
you can use AOT 1040EZ if you ask load, for example. There, AOS no place on the form to list. Have children you want to claim as dependents bumps you immediately to at least one form 1040A
have one or more of the following means that you can not file Form 1040EZ :.
- a filing status of head of household, widower qualification (er) with a dependent child, or married filing separately
- over 65 or blind the end of
- Demand or more dependents (a child, a parent who lives with you or any eligible dependent)
- the taxable income of 100,000 $ or more, or taxable income from sources other than wages, salaries, tips, unemployment compensation, Alaska permanent dividend Fund, scholarships and grants taxable grants and taxable interest of $ 1,500 or less
- Adjustments to income as a deduction for IRA contributions or student loan interest
- Claiming credits other than the earned tax credit on income
- employment household payroll taxes paid to a household employee
- Earned tips that are not included in boxes 5 and 7 of your form W-2
- Being a debtor in a bankruptcy case from chapter 11 filed after October 16, 05
- Retailer your deductions
- Purchased health insurance through a government sponsored market and received the tax credit for advance premiums OR claim the premium tax credit
What it is required to use form 1040A?
Your return can be a bit more complex with the 1040A.
for example, you may have capital gains distributions (usually from a mutual fund) or distributions from the IRA and still use Form 1040A.
You can request certain tax credits using the 1040A, including credit for expenses of children and dependent persons, credit for the elderly or people with disabilities credits, education, retirement savings contribution credit, child tax credit, credit earned income, and tax credit for each additional child.
You can not itemize your deductions using Form 1040A.
In addition, some tax items less frequent stops you to file Form 1040A.
What, AOS the most important thing to know about Form 1040, 1040A and 1040EZ?
When you use TaxAct to prepare your return, TaxAct you through simple interview questions about your tax situation and recommend the form on file with. In addition, we can help you choose before preparing your return.
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