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| Tax |
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Forms |
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Congratulations!
Based on your answers,
you may be able to file Form
1040A. While it's not as brief as Form 1040EZ, it is quicker to file
than the full Form 1040.
The IRS allows you to file Form 1040A if ALL six of the following apply:
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You
only earned income from:
- Wages,
salaries, tips
- Interest
and ordinary dividends
- Capital
gain distributions
- Taxable
scholarship and fellowship grants
- Pensions,
annuities and IRAs
- Unemployment
compensation
- Taxable
social security and railroad retirement benefits
- Taxable
scholarship and fellowship grants
- Alaska
Permanent Fund dividends
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The
only adjustments to income you can claim are:
- Educator
expenses
- IRA
deduction
- Student
loan interest deduction
- Tuition
and fees deduction
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You
do not itemize deductions. |
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Your
taxable income is less than $100,000. |
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The only credits you can claim are the credit for child and dependent care expenses, the making work pay credit, the government retiree credit, the earned income credit, the credit for the elderly or the disabled, education credits (including the American opportunity credit), the child tax credit, the additional child tax credit, and the retirement savings contribution credit. |
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You
did not have an alternative minimum tax (AMT) adjustment on stock
you acquired from the exercise of an incentive stock option.
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If you do not meet
all of these requirements, you will need to file Form
1040. Otherwise, you should be able to use Form 1040A.
And if you haven't
already done so, you can download Form
1040A for free from SaveWealth.com. You can also file your 1040 online
through FileOnline, powered by TurboTax.
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SaveWealth.com and its associates do not provide tax advice. Always consult your tax
professional if you have questions. For more legal information, please
click here.
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