Fill Form 2350 Tutorials 2023-2024

Welcome to the 1040EZ tutorial. A 1040EZ form is used to fill out and find out how much money you owe the government or how much money the government owes you. In this tutorial, we will be looking at Samantha Walters, who does not receive unemployment compensation and is not eligible for the Earned Income Credit or non-taxable combat pay election. She has four years of healthcare coverage. To start off, let's look at Samantha's wages and tips, which amount to $8,566.23. Enter this amount on line one. On line two, enter any taxable interests. If the total is over $1,500, you cannot use this form. Luckily for us, Samantha has $806 in taxable income. Next, for line three, since Samantha does not receive unemployment compensation, enter zero. Add lines one, two, and three together to get the amount for line four. On line five, you will check the for "you" because Samantha is a dependent and single. If you are not single, you would need to enter $10,300 for single and independent or $20,600 if married. Since Samantha is single, flip to the back of the form and enter her wages, plus $350. This is the total on line five. For line six, enter the larger of line four or line five. In this case, it is $8,000. For line seven, enter $6,300 because Samantha is single. If she were married, she would enter $12,600. For line eight, enter the smaller of line six or line seven. This is your standard deduction, which is still $6,300 in this case. For line nine, enter zero because Samantha is single and not married. On line ten, add lines seven and eight together and put the total on line five in the front of the form. In this case, it is still $6,300. Subtract line...