income tax return question, be kind and help?

Question

what is form 1040A or 1040EZ about?what kind of income will be eligible to file using those form? thanks for any help that i can get

hey johnny cee,
what does "love never fails" got to do with this tax filing question?

Answer 1

1040EZ is if you don't itemize your deductions, and if you don't have any unusual (like investment) income - just regular W2 forms from work.

1040A is the standard form most other people fill out.

Answer 2

The three forms used for filing individual federal income tax returns are Form 1040EZ, Form 1040A, and Form 1040. If you are filing a federal income tax return on paper, use the simplest form you can. Using the simplest allowable form will reduce the chance of an error that may cost you money or delay the processing of your return.

1040EZ You may qualify to use Form 1040EZ, the simplest form, if:

• Your taxable income is below $100,000
• Your filing status is Single or Married Filing Jointly
• You are under age 65
• You are not claiming any dependents
• Your interest income is $1,500 or less

1040A You may be able to use Form 1040A if:

• Your taxable income is below $100,000
• You have capital gain distributions
• You claim certain tax credits
• You claim deductions for IRA contributions, student loan interest, educator expenses or higher education tuition and fees

1040 If you cannot use either a 1040EZ or 1040A, you probably need to use Form 1040. You must file form 1040 if:

• Your taxable income is $100,000 or more
• You claim itemized deductions
• You are reporting self-employment income
• You are reporting income from sale of property

Answer 3

Hardly anyone uses 1040A, 1040EZ should be used if you do not have enough deductions to file Schedule A. Basically if you own a home and can deduct interest you should file 1040 (long form) if you don't own a home and do not have a lot of deductions you should file 1040EZ.

Answer 4

1040a is often called "long form" in which you can itemize your deductions. The 1040ez form is a very easy to file form that doesn't really itemize deductions and is used more for single or married people without a lot of assets, interest income, etc.

Answer 5

The need to ask this question indicates that you have not filed
your taxes personally before. I would ask a friend to "give you
some pointers on how to file your tax return". You can pay to
have it done, but if you can use a computer to participate in
Yahoo! Answers then you definitely have enough intelligence to
prepare the forms yourself. Post offices and libraries usually
have forms and instructions for free around the first part of
every year.

I Corinthians 13;8a, Love never fails!!!!!

Answer 6

I think that the 1040EZ for people who make under 25,000 and have no exemptions or credits to claim. I think its good for people who maybe work but live with their parents and dont have any interest expenses or write offs.

Answer 7

the best person that can answer this Q? is your tax prepare
he will be glad to help you