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Written by : Leroy Grubaugh |
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laws calm legal forms guide Form 1040a is a United States Internal Revenue Service tax form used for filing an individual's tax return it is a short form as it is a cut-down version of the long 1040 it can be used by individuals who do not make more than $100,000 and do not itemize their deductions the Form 1040a can be obtained through the IRS s website or by obtaining the documents through a local tax office the tax form is to be filed by the taxpayer at the end of the taxable year first enter all of your personal information in the top set of boxes on the form include your name and social security number if you are filing a joint return you must also include your spouse's name and social security number state your contact information putting your address and foreign nation information if residing outside of the United States indicate your filing status in the proper box below your contact information if married and filing separately you must put your spouse's Social Security number next fill out the exemptions box claiming yourself a spouse and any dependents you are claiming list all dependents names Social Security numbers relationship to you and check if they are under the age of 17 indicate the total number of exemptions in line 60 right in all income obtained through the taxable year include wages salary taxable interest ordinary dividends capital gains IRA distributions pensions unemployment and Social Security benefits add all of these amounts as instructed and state your total income in line 15 determine your total adjustments following the tax instructions enter your educator expenses IRA deductions student loan interest deductions tuition and fees add these totals together and subtract from your total income this will determine your adjusted gross income next you must determine all tax credits and payments from the tax year you must enter your standard deduction and any additional tax credits you are claiming if your total tax is less than your total payment through the year you have overpaid your taxes and will get a refund enter your refund amount in line 42 if you owe a ditional taxes write in the total amount owed in line 45 sign your form 1040 a and have your spouse sign if applicable to watch more videos please make sure to visit laws calm
Thanks for your comment Adalberto Sluter, have a nice day.
- Leroy Grubaugh, Staff Member
welcome to Form 1040a this is lesson 2 our objectives in this lesson are to understand the requirements for using a 1040a as compared to a 1040ez or even a 1040 we'll go ahead and fill out a sample 1040 a so you can see some of the differences when can I use a 1040 a well a 1040 a has very similar requirements to the 1040ez the biggest difference is if you have a dependent child with a child you can use 1040 a which you cannot use 1040ez you can also claim some additional tax credits by using the 1040 a which we'll look at today I'm going to try a practice problem we have a couple Joe and Katrina Smith they're married they have one child Jenna Joe works his attack at a hospital and Jenna works as a cashier at a local grocery store he rent a townhome and they received 16 dollars from an account that would be interest however they didn't receive a 1099 int which is typical if you only receive a small amount of interest we just need to make sure we keep track of that one other important difference between a 1040a and a 1040 which we haven't looked at is whether you rent or on a home or townhome some property if you rent you can use a 1040 a if you own a home or some other living property then you'll need to fill out the 1040 a because you may be able to itemize and we will be talking about that man our next lesson here is w-2 from Joe Smith from st. Anthony's Hospital we'll want to make sure that we pay special close attention to the federal income tax withheld number we'll need to pull that off same thing with his wife Katrina we'll need to make sure that we record this 1080 or keep this close so we can look at it when we're filling out our tax return now do they qualify for the Earned Income Tax Credit well if we are married filing joint with one qualifying child we need to have our adjusted gross income be less than forty three thousand two hundred and ten if we look back at their two w-2s 13 526 six is definitely less than that threshold we're going to have to fill out a worksheet to make sure but in first glance it looks like they probably will qualify for the Earned Income Tax Credit one thing you can do if you don't want to figure out the credit by yourself and you'll see that it's a little bit time-consuming is you can enter the letters e I see to the left of the entry space on your 1040 at the earned income credit line which is 38 a keep in mind that your maximum credit could be as much as three thousand two hundred fifty with one qualifying child so it would definitely be worth your while to keep this in mind when you get to this line or else calculate it yourself if we want to find form 1040 eight remember that we can go to the IRS website and that would just be WWE IRS gov we will be going directly to form 1040 a but there's some other things that we'll need to find too we'll want to make sure that we have the instruction book Oakland for 1048 so that we can get the worksheets for the Earned Income Tax Credit we also need the schedule for the Earned Income Credit let's go ahead and go to the 1040 a and start filling out our form when we're filling out our form remember always to fill out your personal information so we would want to make sure that we filled out our name in our spouses name as well as our social security numbers in this top portion if we don't want to elect to donate $3 to the presidential election campaign just don't check these boxes okay now when we continue on we would check married filing joint because that's what these couple is compare that to head of household you have to be single with one or more dependents or qualifying widower that means that your spouse would have passed away sometime during the year then very important this is new you have a separate category here for exemptions it's not included in with your standard deduction on the 1040a you would want to make sure to click the box for yourself and your spouse you can claim an exemption for each of those and then the total goes over here now if we look down we have a section for our dependents for our children well we have one child Jenna Smith you must put in the social security number or the IRS won't recognize this as your dependent then if your dependent is under the age of 17 check this box you may get an additional tax credit because your child is under age 17 and then you'll fill out a 1 here for the number of children who lived with you down here at the bottom we now have total number of exemptions claimed which you can see is 3 ok moving on to our income section of the form right here this is where we're put in all of our income this couple only had wages and interest we went to the w-2 and we totalled both their wages to get 37 182 and then don't forget about the 16 dollars of interest they had we can sum that down here at the bottom to get our total income but remember that line 7 is our earned income in line 8 8 is our unearned income all right when we get finished with that we can now find our adjusted gross income down here this is a very important number because you'll have to pull that out when you're working on your worksheets for earned income tax credit or even for your child credits so you'll need to know this number 37 198 that's your adjusted gross income notice we have no adjustments here we don't have educator expenses we did not contribute to an IRA we were not in school so we wouldn't have any student loan interest or tuition and fees so our adjustments are zero for now this brings us to page 2 on page 2 we're just caring for this adjusted gross income number and now we're going to look at our tax credit and pinis okay 23 doesn't apply to us because we weren't over 6 five and we are not blind so next we get to the standard deduction over here on the left is a box to tell us what our standard deduction is this is compared to itemized deductions which if you are owning your home you may qualify for and then you would use the 1040 but on the 1040 a we must use the standard deduction notice over here it says married filing joint or qualifying widower is twelve thousand two hundred that's where I got that number okay and just following the directions of the form we subtract this from our adjusted gross income number to get this twenty four nine nine eight now we have another box here that says exemptions right in here and it says multiply thirty-nine hundred by the number on line sixty okay let's go back to sixty well 60 was the total number of exemptions we claimed one for each of us and one for our child so if we multiply three by thirty-nine hundred we have some additional monies that can come off of our total income now again following the directions we would subtract line 26 from 25 to get our taxable income right here our taxable income is a very important number because that's what you use to calculate our tax notice that our taxable income is quite a bit smaller than our adjusted gross income so while we earned almost $40,000 we're only going to be taxed on thirteen thousand two hundred and ninety eight due to our exemptions and our standard deduction so not too bad okay now let's move on to tax so to find our ta
Thanks Sunshine your participation is very much appreciated
- Leroy Grubaugh
About the author
I've studied paleoethnobotany at Heritage Christian University in Florence and I am an expert in scheduling. I usually feel energetic. My previous job was narcotics investigator (government) I held this position for 30 years, I love talking about squash and fat tire biking. Huge fan of Robert Irvine I practice handball and collect premiums.
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