Last Updated : January 14, 2009
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Form 1040-EZ

You can use form 1040-EZ if you meet all of the following conditions:

  1. If your filing status is Single or Married filing Jointly,
  2. You claim no dependents,
  3. You, and your spouse if filing a joint return, are under age 65 and not blind at the end of the year. If the taxpayer was born on January 1, 1942, he or she is considered to be age of 65 at the end of 2006 and cannot use form 1040-EZ.
  4. Your taxable income is less than $1,00,000.
  5. You have only income from wages, salaries, tips, taxable scholarship, and fellowship grants, unemployment compensation, qualified state tuition program earnings, or Alaska Permanent Fund dividends, and your taxable interest was not over $1,500,
  6. You did not receive any advance earned income credit payments,
  7. You do not owe any household employment taxes on wages you paid to a household employee,
  8. You do not claim a student loan interest deduction, an educator expense deduction, or a tuition and fees deduction, and
  9. You do not claim an education credit, retirement savings contributions credit, or a health coverage tax credi

If you meet all of the above conditions then you are eligible for filing form 1040-EZ and can check the checkbox for 1040-EZ on General Information sheet. Then you are required to fill up the supporting form of 1040-EZ Schedule B, W-2 etc.

Line 1: Wages, Salaries, and Tips:
This is calculated entry and amount on this line comes from Form W-2. When you enter the amount on line 1 of form W-2, the program then make the totals of line 1 of all forms of W-2 and transfers the totals on this line.

If you have not recorded any Household help amount or Scholarship amount on form W-2, then enter on row 1 and raw 2 of this line.

Line 2a: Taxable Interest Income:
The amount on this line comes from Schedule B. On Schedule B you are required to enter amount less than $1500, if it is more than $1500, then you are not eligible for filing form 1040-EZ.

Line 2a: Tax Exempt Interest:
This amount represents the interest income, which is exempt for taxpayer. Enter on Schedule B any income, which is exempt for you from taxable income. This amount will not be included on outer column.

Line 5: Standard Deduction:
If neither of the box is checked on line 5 i.e no one can claim the taxpayer or spouse as a dependent, then Line5 will be $8450 is filing status is Single, and $16900 if filing status is Married filing jointly.

If any box on line 5 is checked, then program will calculate the amount of deduction and represent it on line 5.

Line 7: Federal Income Tax Withheld:
The amount on line 7 comes form number of forms, like Form W-2, W-2GU, 1099-G, Interest income statement of Schedule B, Dividend income statement of Schedule B etc. The program will transfers the amount from this forms related to Federal Income tax Withheld.

Line 8a: Earned Income Credit:
Amount on this line will come form the Schedule EIC Worksheet. If you suit on eligibility criteria like age, income, qualifying child and others for claiming EIC, then amount from Schedule will come to here. For that you should fill up all the information on Schedule EIC and EIC Worksheet and should give answers of all the questions on EIC Worksheet.

Line 8b: Nontaxable Combat Pay Election:
The amount on this line will come from Form W-2. If you have entered any nontaxable combat pay on Form W-2, Box 12 with Code ‘Q’ then that amount will transfer here.

Line 9: 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 your filing status and whether you can be claimed by any person. E.g. if your filing status is single and you did not check any checkbox on line 5, 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 will come from form 8913 on this line.

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