Which form should you use to file your federal income taxes?
These days, most people use a computer to prepare and e-file their tax forms. It’s easy, because tax software selects the right form for you. If you file on paper, you’ll need to pick the right form to use.
Before you decide, check out IRS Free File on IRS.gov. It has free tax software or a Fillable Forms option that allows you to fill in your tax forms using a computer. You can e-file the completed forms for free!
If you still prefer paper and pen, here are some tips on how to choose the best form for your situation.
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
- 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.
Read more about which form to use in IRS Publication 17 Your Federal Income Tax or contact us for assistance.
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