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Topic 352 Which Form – 1040, 1040A, or 1040EZ - YouTube
Channel: Maths Platter
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the three forms US citizens and resident
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aliens use for filing individual federal
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income tax returns are form 1040 as
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income tax return for single and joint
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filers with no dependents form 1040 a
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u.s. individual income tax return and
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form 1040 u.s. individual income tax
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return to see which form you should use
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review what is the simplest form to use
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to file my taxes interview on IRS
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website form 1040 ace is the simplest
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form to fill out you may use form 1040
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A's if you meet all the following
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conditions your filing status is single
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or married filing jointly you claim no
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dependents you don't claim any
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adjustments to income you don't claim
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any credits other than the Earned Income
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Credit you and your spouse if filing a
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joint return were under age 65 on
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January 1st and not blind at the end of
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last year your taxable income is less
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than $100,000 you had only wages
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salaries tips taxable scholarship and
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fellowship grants unemployment
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compensation or Alaska Permanent Fund
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dividends and your taxable interest
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wasn't over $1500 your earned tips if
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any are included in boxes 5 and 7 of
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your forum w2 you don't owe any
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household employment taxes on wages you
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paid to a household employee you're not
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a debtor in a chapter 11 bankruptcy case
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filed after October 16th 2005 finally
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advanced payments of the premium tax
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credit weren't made for you your spouse
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or any individual you enrolled in
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coverage for whom no one else is
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claiming the personal exemption if you
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file Form 1040 as you can't itemize
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deductions or claim any adjustments to
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income or tax credits
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other than the Earned Income Credit if
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you can't use form 1040 s you may be
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able to use form 1040 AF your income is
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only from wages salaries tips interest
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ordinary dividends capital gain
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distributions taxable scholarships and
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fellowship grants pensions annuities
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IRAs unemployment compensation Alaska
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Permanent Fund dividends and taxable
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Social Security or railroad retirement
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benefits
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the only adjustments to income you can
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claim are the IRA deduction the student
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loan interest deduction the educator
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expenses deduction and the tuition and
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fees deduction you don't itemize
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deductions your taxable income is less
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than $100,000 the only tax credits you
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can claim are the credit for child and
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dependent care expenses the credit for
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the elderly or the disabled education
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credits the retirement savings
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contributions credit the child tax
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credit the additional child tax credit
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the Earned Income Credit and/or the
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premium tax credit finally you didn't
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have an alternative minimum tax
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adjustment on stock you acquired from
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the exercise of an incentive stock
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option you can also use Form 1040a if
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you receive dependent care benefits or
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if you owe tax from the recapture of an
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education credit or the alternative
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minimum tax finally you must use form
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1040 under certain circumstances such as
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your taxable income is $100,000 or more
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you have certain types of income such as
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business or farm self-employment income
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unreported tips dividends on insurance
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policies that exceed the total of all
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net premiums you paid for the contract
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or income received as a partner a
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shareholder in an S corporation or a
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beneficiary of an estate or trust you
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itemize deductions or claim certain tax
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credits or adjustments to income or you
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household employment taxes
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see when must you use form 1040 in the
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Form 1040a instructions for a complete
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list of conditions outlining when you
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must use form 1040 if you were a
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non-resident alien during the tax year
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and you were married to a u.s. citizen
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or a resident alien you may use any one
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of these three forms based on your
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circumstances only if you elect to be
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treated as a resident alien when you
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file a joint return with your spouse
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other non-resident aliens may have to
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file Form 1040 n R or form 1040 n RS for
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more information on resident and
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non-resident aliens refer to topic 851
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and publication 519 US tax guide for
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aliens
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you
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