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Filing taxes is not as simple as reporting income. There are several forms that people need to know about before filing taxes. The most common tax forms come from the 1040 series. A 1040 form is your base form for filing taxes. It is commonly used to report primary income from your job. One of the most common forms is the 1040A. This is the form that will primarily be used by people who work one job and earn less than $100,000.
A 1040A is basically a simplified version of the 1040 form. If you have one income and plan to take the standard deduction, you will likely use this form. If you have a 1040A form, you are likely only reporting your primary wages, which could include tips. You can also add income from capital gains, interest, retirement funds, grants, or unemployment income.
The key difference between the 1040A and a regular 1040 is that those filing a 1040A will not be claiming itemized deductions. Instead, they will use the standard deduction. People filing the 1040A can still claim several tax credits, but they will still take the standard deduction. One major credit people use on the 1040A form is the student loan interest deduction. This form should not be used by anyone that is self employed. In addition, those with a home office would be advised to use the 1040 form.
If you have dependents, you can still use the 1040A form. The same restrictions apply. Your income must be below $100,000 and your must take the standard deduction for your dependents. If you feel you may benefit from itemized deductions, you should use the regular 1040 form.
The key thing to remember about the 1040A form is that is designed to simplify taxes for the average person. Before requesting a 1040A form, evaluate your tax situation. If you meet the income requirements and have little or no deductions, the 1040A form is probably best for you. It is simple enough to fill out where you can save money by not hiring an account to fill out your taxes. As with any tax form, make sure you read all of the instructions.
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I need to download a 1040A tax form?
i need to download a 1040A tax form
Print a copy of 1040A?
How do I prlint a opy of tax form 1040A
I need a copy of 2009 tax form 1040A?
Were can I get a blnk copy of the 2009 1040A form?
where can I pick up a 1040a forms?
I want to see the tax table for 1040A Is there a tax table online that I could see 2010, form 1040A? online tax tables for 2010 1040A please.
Which form to file tax?
#1040 or 1040A
Where can I pick up the 1040a Tax forms?
Where can I pick up the 1040a Tax forms?” Where can I pick up the 1040a Tax forms in Raleigh NC? can i print tax form now how to get 1040 a forms
What exactly is a 1040a tax form?
The 1040A tax form is also called the "short form." It is used for reporting annual income, tax deductions, and credits to the IRS. It is a simplified 2-page version of the federal income tax form used by many people.
i need a irsform1040a ?
i need a irs 1040a tax form
Where do you enter workman's compensation on federal form 1040a?
The form 1040a is a federal tax form. When you go to enter workman's compensation on it, you need to fill out line 7.
What is IRS form 1040A used for?
The 1040A form is a shorter and more simple version of the IRS 1040 tax form. A taxpayer can use the 1040A form if his total income is less than $100,000. In addition, the 1040A form limits sources of income to wages, interest, dividends, and capital gains.
Which form do we use for our tax return this year if we've met the requirements for both a 1040 and the 1040A?
If you owe tax for self employment income, you are required to complete the 1040 form. The 1040A form is for more basic tax returns, and in this case, would not work for you.
Can a nonresident alien use a 1040a tax form?
You may use a 1040a tax form as a nonresident alien as long as you were not a nonresidential alien in the year of 2007. However, your nontaxable income must be under $100,000.
