Who Can File A 1040EZ

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1040ez TAX From Filing

Who Can File A 1040EZ Form For Their Taxes ?

If you need to file an individual federal tax return, you’ll now have to use IRS Form 1040 or the new 1040-SR for seniors. The previous other alternatives—Forms 1040EZ and 1040A ended starting in the 2018 tax year. You can file easily 1040EZ TAX form TurboTax Software , more details connect TurboTax Support Phone Number on Toll Free 📞 1-855-481-5333 .

You are still able to use Forms 1040-A or 1040-EZ to file taxes for years previous to 2018.

What Is Tax Form 1040-EZ

Form 1040-EZ is the shortest, simplest form with less chances of error or delay in processing a return. However, Forms 1040EZ and 1040A ended at the starting of the 2018 tax year. You can use Form 1040-EZ if you do not plan to claim any credits or deductions. This form can be used to file simple returns. Detailed instruction for Filing Federal Tax Online .

1040ez Does Not Include Income From

What you cannot do with Form 1040-EZ

You can take the standard deduction, but you won’t be able to itemize deductions

Neither claim adjustments to income (such as contributions to an IRA)

Cannot claim any tax credits except for the Earned Income Tax Credit (EIC) meant for low income payers

Cannot use it for income from self-employment, alimony, dividends or capital gains

Form 1040-EZ can be used if the following apply:

  • Your taxable income is less than $100,000
  • Interest income is below $400
  • You are filing as single or married filing jointly
  • You don’t claim any dependents
  • There is no choice of itemizing deductions
  • Single or Married Filing Jointly Under age 65
  • Your income comes only from wages, salaries, tips, taxable scholarship and fellowship grants, unemployment compensation

You need to learn about IRS Business Tax , which makes clear which tax form you should have to file .

What Is Form 1040A

This can be used to claim certain tax credit and limited itemized deductions.

  • Filing as single, married filing jointly or separately, qualifying widow or widower, or head of household
  • If your taxable income is below $100,000
  • Your income arises from wages, salaries, tips, taxable scholarships, and fellowship grants, interest, ordinary dividends, pensions, annuities, IRAs, unemployment compensation, taxable Social Security
  • Capital gain distributions, but no other capital gains or losses
  • The only adjustment to income are IRA, student loan, educator expenses, and tuition and fees
  • Only credits you can claim here are child and dependent care expenses, child tax credit, EIC, the elderly or the disabled, education, premium tax credit or the retirement savings contribution credit

IRS TAX Form 1040

This has larger income brackets, can accommodate complex investments, and if you plan to claim tax credits and itemize deductions.

  • If your taxable income is more than $100,000
  • You receive income from the sale of property
  • You have certain other types of income like self-employment, unreported tips, beneficiary of a trust, certain non-taxable distributions, a partnership or S corporation
  • You owe taxes for a household employee

Each form served the same purpose i.e. reporting your income and determining if you owe additional taxes or, are eligible for a refund so basically, these forms vary in complexity.

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