1040A Tax Payment Tips

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

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Tax help! How to complete the tax payment section of a 1040A tax form in this free video on tax help and personal finance.

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1040A Tax Payment Tips
To determine the tax on that taxable income and we have to include any alternative minimum tax if that?s applicable, but in this example it's not, you will see that we came up with $12,166.00. The way we got that is if we go to the tax table and income of $77,260.00 you'll see that it falls in this bracket right here, $77,250 to $77,300 and for the shaded area you'll see that is $12,166.00 for married filed jointly. So that?s the amount that we want to enter on line 28, $12,166.00. Now we go back over and lines 29, 30, 31 are all zero, but you see line 32 is $2,000 and we talked about this earlier, so we do have $2000 on line 32, nothing on line 33, then we add on line 34, we add lines 29 through 33 and these are our total credits that go right here, $2,000 and we're able to subtract this $2,000 from the 12,166 we arrived at earlier, so line 35 is $10,166. Line 36 is advanced earned income credit and in our example there's nothing there so we add lines 35 and 36 and the total tax the couple owes is $10,166.00.

About the Expert

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