How to File a Single Income 1040EZ Tax Form

Part of the Video Series How to Complete a 1040EZ Tax Form

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Tax help! Filing a single income1040EZ tax form in this free video on tax tips.

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How to File a Single Income 1040EZ Tax Form
Okay, in this example, I'm going to use James B. Jones, who worked for the John L. Smith Construction Company, in Austin, Texas, and James earned $34,210.25 which we see in box "1". He also had $3,810 in tax withheld from his income. Now, we go to line "1" and we put $34,210, and we drop the pennies since we're rounding down, and you put that on line "1". James also had $510 in taxable interest on his Form 1099INT, so we put that on line "2". He did not have any unemployment compensation, or Alaska Funds Dividend, so line "3" is zero, and when we add lines one, two and three, we get $34,720. Going to Section 5, since James is single, we put $8,750 on line "5" and we note that he is not claimed by anyone else as a dependent, so he's completely eligible for the $8,750. We subtract line "5" from line "4" and this gives us our taxable income, and that amount is $25,970.

About the Expert

Expert: Tom Noah has been a Certified Public Accountant (CPA) for over 27 years. Read More