Which Form Should I File? 1040EZ , 1040A or 1040.

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Which Form Should I File? 1040EZ , 1040A or 1040.

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Which Form Should I File? 1040EZ , 1040A or 1040.

Posted on Monday, February 03, 2014 9:26 AM

You can generally use the 1040EZ if:

Your taxable income is below $100,000;
Your filing status is single or married filing jointly;
You are not claiming any dependents; and
Your interest income is $1,500 or less.

The 1040A may be best for you if:

Your taxable income is below $100,000;
You have capital gain distributions;
You claim certain tax credits; and
You claim adjustments to income for IRA contributions and student loan interest.

However, reasons you must use the 1040 include:

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

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Posted By Julie Standish EA MBA to ALL STAR TAX SOLUTIONS at 2/02/2014 08:48:00 PM