Last Updated : January 14, 2009
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1040A

Form 1040-A

U.S. Individual Income Tax Return

Taxpayer can use Form 1040A, if all of the following apply;

  1. Taxpayer’s Taxable Income is less than $100,000.
  2. Taxable Income is from
    • Wages, salaries, tips and wages earned as a household employee and the taxpayer didn’t receive a form W-2,
    • Interest and ordinary dividends,
    • Capital gain distributions,
    • Taxable scholarship and fellowship grants,
    • Pensions, annuities, and IRAs,
    • Unemployment compensations,
    • Taxable social security and railroad retirement benefits,
    • Alaska permanent fund dividends,
    • Jury duty pay,

  1. Taxpayer does not itemize deduction.
  2. The only adjustments to income are:
    • Ira deduction,
    • Student loan interest deduction,
    • Educator expenses and the tuition and fees deduction,
    • Jury duty pay taxpayer gives to employer.

  1. The only tax credits can be claimed are:

  1. Taxpayer does not have an alternative minimum tax (AMT) adjustment on stock acquired from the exercise of an incentive stock option.

Taxpayer can also use Form 1040A if the taxpayer received advance earned income credit (EIC) payments, dependent care benefits, or if the taxpayer owes tax from the recapture of an education credit or the alternative minimum tax.

Personal Information and Filing Status:
You are not required to fill up this information at here. Fill up the taxpayer’s name, address, SSN and filing status in main information worksheet and program automatically fill up these all information in this form.

Exemptions:
Line 6a: Exemption for Taxpayer
The exemption for taxpayer box is checked by default unless you check the box for “someone can claim taxpayer for dependent” in personal information on main information worksheet.

Line 6b: Exemption for Spouse
The exemption for spouse box (if filing married filing jointly) is checked by default unless you check the box for “someone can claim spouse for dependent” in personal information on main information worksheet.

Line 6c: Dependents
You are not required to fill up these all information of dependents at here, when you enter the information of dependent in main information worksheet and check the box for CTC, the program will transfer the information of dependent at here.

Income:
Line 7: Wages, Salaries, Tips, etc.
Program transfers the amount of wages, salaries and tips from different forms. Double click on this line to view the links of different forms.
Line 8a: Taxable Interest
Amount on this line comes from Line 4 of Schedule 1. Fill up Schedule 1 and program transfers the amount on this line from line 4 of Schedule 1.

Line 8b: Tax-exempt Interest
Amount on this line comes from Schedule 1 if any exempt interest is there.

Line 9a: Ordinary Dividends
Amount on this line comes form line 6 of Schedule 1.

Line 9b: Qualified Dividends
Amount on this line comes from Schedule 1 if any exempt dividend is there.

Line 10: Capital Gain Distribution

Line 11a: IRA Distribution
The program transfers amount on this line from Form 1099-R, line 1, if checkbox on line 7 is checked.

Line 11b: Taxable Amount of IRA distribution
Amount on this line comes form line 2a of Form 1099-R and Line 15 or Line 18 or Line 24 of Form 8606. If line 2a of Form 1099-R is not filled, program enter the amount here from line 1 of Form 1099-R.

Line 12a: Pensions and annuities
The program transfers amount on this line from Form 1099-R, line 1, if checkbox on line 7 is not checked and code on line 7 is selected.

Line 13: Unemployment compensation received
The amount on this line comes from line 1 of Form 1099-G. Taxpayer should receive a form 1099-G showing the total unemployment compensation received in 2006.

If taxpayer received an overpayment of unemployment compensation in 2006 and repaid any of it in 2006, enter this amount on row 2 of line 13. Program deducts this amount from row 1 and enters the result in outer column.

Include on line 13 any amount received for Alaska permanent fund dividends.

Line 14a and 14b: Social Security Benefits
The program transfers the amount on this line from S.S. and R.R. Benefits worksheet. If filing status is married filing jointly, then also enters the amount of spouse.

Taxable amount on line 14b also comes from S.S. and R.R. Benefits worksheet, line 18.

Adjusted Gross Income:
Line 17: IRA Deduction
Amount on this line come form IRA Worksheet Line 11 (Traditional IRA).

If taxpayer made contribution to a traditional IRA for 2006, he/she may be able to take and IRA deduction.

Line 18: Student Loan Interest Deduction
Amount on this line comes from line 16 of student loan interest deduction worksheet.

However, taxpayer can take this deduction only if all of the following apply;

  • Taxpayer paid interest in 2006 on a qualified student loan,
  • Taxpayer’s filing status is not married filing separately,
  • Modified AGI is less than:
  • $65,000 if single, HOH, or qualifying widow(er);
  • $135,000 if married filing jointly.
  • Taxpayer, or spouse (if filing jointly), are not claimed as a dependent on someone’s 2006 tax return.

Tax Credits, and payments:
Line 23a:
The program checks the applicable checkbox on this line on the base of information entered on main information worksheet.

The spouse box will be checked only if the filing status is married filing jointly, or married filing separately and the box to claim the spouse’s exemption on line 6b of Form 1040A is checked.

Line 24: Standard Deduction
Standard deduction is based on filing status unless the box for claiming the taxpayer (or spouse if filing joint return) is a dependent of someone else.

If above checkbox is checked, then program calculates the standard deduction on the base of information entered.

Line 29: Credit for Child and dependent expenses
Program transfers amount on this line form line 11 of form Schedule 2 if taxpayer fulfills the requirement for child and dependent expenses.

Line 30: Credit for elderly or the disabled
Amount on this line comes form line 22 of Schedule 3 if taxpayer fulfills the requirement for credit for elderly or the disabled.

Line 31: Education Credit
If taxpayer paid qualified expenses in 2006 for himself or spouse, or for his dependent to enroll in or attend an eligible educational institution, you may be able to take an education credit.

You are required to fill up Form 8863 to claim this credit. Amount on this line comes form line 17 of Form 8863.

Line 32: Retirement savings contributions credit
Amount on this line comes form Line 14 of Form 8880. Fill up form 8880 to claim this credit.

Line 36: Advance earned income credit payments
Amount on this line comes from box 9 of Form W-2 and W-2G.

Line 38: Federal Income Tax Withheld
The amount on this line comes from number of forms. Double click on this line to view the links for different forms. Program will make the total of the amount of withheld from all the forms and enter it on this line.

Line 40a: Earned Income Credit
The EIC is a credit for certain people who work. The credit may give taxpayer a refund even if he/she does not owe any tax.

You are required to fill up Schedule EIC and EIC Worksheet to claim this credit. Most of the entries in this form are automatically calculated by program. If taxpayer is eligible for EIC, then amount on line 40a will be transferred from Line 9 of the Schedule EIC Worksheet.

Line 40b: Nontaxable Combat Pay Election
If taxpayer is a member of the U.S. Armed Forces who served in a combat zone, certain pay is excluded from taxpayer’s income. The amount of nontaxable combat pay should enter in box 12 of Form(s) W-2 with code Q.

Amount on this line will be transferred from line 3 of Schedule EIC Worksheet if checkbox on line 3 is checked.

Line 41: Additional Child Tax Credit
This credit is for certain people who have at least one qualifying child. The additional child tax credit may give a refund even if taxpayer does not owe any tax.

Amount on this line transferred from line 13 of Form 8812.

Line 42: Credit for Federal Telephone Excise Tax Paid:
This is the new credit which is included from tax year 2006. You can decide whether you want to take standard amount of credit or accrual amount of credit. The checkbox is given on row 1 and row 2 of this line.

If you select the checkbox on row 1 i.e. standard amount of credit then program will calculate the standard amount of credit based on number of exemptions claimed on line 6d. E.g. if number of exemptions is claimed on line 6d is 1, then your standard amount will be $30.

If you have checked checkbox on row 2 i.e. accrual amount credit, then you are required to attach and fill up form 8913, and amount on this line will come from form 8913.

Line 43: Amount Paid With Request for Extension
Amount on this line come form estimated tax payment worksheet. Enter in estimated tax worksheet, any amount paid with extension request and program will transfer that amount on this line.

Third Party Designee:
You are not required to fill up all these information at here. Once you fill up all these information on main information sheet program will transfer it at here.

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