1040A Tax Credit Tips

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

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Tax help! How to report tax credits on a 1040A tax form in this free video on tax help and personal finance.

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1040A Tax Credit Tips
At this point we've completed line 35. The next line is 36, advanced earned income credit payments from forms W-2, box 9. So if we take a look at our form W-2 you'll see box 9, advance EIC payment is highlighted. And if this is in your W-2 you need to enter that on line 36. Then for line 37, you add lines 35 and 36 and this is your total tax, line 37. Then on line 38 it asks you for the federal income tax withheld from forms W-2 and 1099. So if we go back to our W-2, you'll see box 2 has the federal income tax withheld and this is what you'd put on your line 38. If you had made any estimated tax payments or if you'd applied part of your refund from your 2006 return against your 2007 taxes, you enter it here on line 39. If the earned income credit applies to you, you'll need to work through a worksheet to see if that's, your eligible for that. The same is true for nontaxable combat pay and an additional child tax credit. Once you've worked through this, you add lines 38, 39, 40a, and 41, and this becomes your total payments that you enter on line 42.

About the Expert

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