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Form 1040EZ is no longer used, but Form 1040 and Form 1040-SR are important for taxpayers to be familiar with. Here's a guide to what is on these forms and what has changed from previous tax years.
Can't use 1040EZ when listing dependents. If you have dependents listed on your return you cannot use Form 1040EZ as there is no place to list those dependents. However, if you do not have dependents, and so figure you should use Form 1040EZ, it is also okay for you to use Form 1040A or Form 1040 instead.
In the past, if you had a simple tax return to prepare, you likely filed your return with IRS Form 1040EZ. This form covered a broad range of taxpayers. However, filing with Form 1040EZ is no longer an option. This form has since been replaced by Form 1040 and Form 1040-SR, depending on your tax situation.
Form 1040, formally known as the \u201cU.S. Individual Income Tax Return,\u201d is the standard federal income tax form people use to report income to the IRS, claim tax deductions and credits and calculate their tax refund or tax bill for the year.
Are you eligible? You must have a taxable income for the tax year of under $100,000. You cannot claim dependents on your tax return. You must have a taxable interest of under $1,500 for the tax year.
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Form 1040-EZ is, not surprisingly, the easiest to fill out. 1040-A is longer and a bit more complex, and Form 1040 is the most detailed and challenging of the lot. While anyone can file Form 1040, you must meet certain requirements to use the shorter 1040-EZ or 1040-A forms.
Form 1040 is the long version, while 1040EZ and 1040A are shorter-hand forms. You must use the correct form depending on your tax situation. That decision is based on the amount and type of income earned and the deductions you plan to claim.
Form 1040-A If you couldn't use Form 1040-EZ\u2014for example, because you had dependents to claim\u2014you would have been able to use 1040A if: You are filing as single, married filing jointly or separately, qualifying widow or widower, or head of household. Your taxable income is less than $100,000.
The simplest IRS form is the Form 1040EZ. The 1040A covers several additional items not addressed by the EZ. And finally, the IRS Form 1040 should be used when itemizing deductions and reporting more complex investments and other income. Here are a few general guidelines on which form to use.
The Internal Revenue Service offers three basic choices: 1040EZ, 1040A and 1040. EZ is the simplest, the "long form" 1040 the most complex, but which one you use depends on your filing status and your income. The IRS recommends that you use the simplest form for your situation.