Form 1040 U.S. Individual Income Tax Return

There are three types of 1040 forms for filing your tax return, Form 1040, Form 1040-A and Form 1040EZ. It depends on your tax situation to select which form you should use.

Form 1040 is the basic tax return for individuals and may be used by any taxpayer, from a low-income worker, a retirement old person, a little kid with certain incomes, to any other professional worker, to a partner of a partnership, a president of a corporation to President of the United States.

This 2-pages form contains all of your annual tax information of this tax year as various incomes, various deductions and credits, various pre-payments to figure how much money you have to pay back (Tax Due) or to get a refund (Refund).

You may attach to this form 1040 other forms or schedules to support or provide more information for a certain tax or credit calculations. Schedule is a form, but called out schedule, for example Schedule A, B, C,..K1, SE, EIC.. and form 2106, 2441, 4562, ...

Now you need to print out this Sample form 1040, of John Doe-Test, have a pen and look at box-by-box description of Form 1040. This instruction is very basic.

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●● First are NAMES, RESIDENCE ADDRESS or PO BOX, SOCIAL SECURITY NUMBERS.

●● Next is (1 to 5) FILING STATUS Choose only ONE status (Single, Married , Married filing Separate, Head of Household or Widow(er).

●● Next is EXEMPTION, check "X" for yourself , also check "X" for Spouse, if married joint. If you are a dependent of your relative, then don't check at all. Each check counts 1. This counting could be 0, 1 or 2.

Then list all relatives or other members living with you under your support of living expenses as food, housing, daily necessary spending. Each name counts 1. This counting could be 0, 1, 2 and so on.

In this case, the total exemptions is "3" person =(yourself + Spouse + 1 Son).

●● Next is INCOMES, Input all of your and your spouse's (if married) incomes, wages, other earnings in this area, from line 7 to line 22. Line 22 is the total income. No other family member's earnings (kids, relatives) in here.

Line 7: (Input your & Spouse's total gross Earning Wage, from all forms W-2) ........................................................ = $ 50,000

Line 8a (Input Savings Account Interest, from all form 1099-INT of your banks) ...........................................................= $ 100

Line 8b (Input Tax-exempt interest, from all form 1099-INT of your banks) .......................= $ ______

Line 9a (Input Ordinary dividends, from all form 1099-DIV of your Investment banks) .................................................= $ 100

Line 9b (Input Qualified dividends, from all form 1099-DIV of your Investment banks) ..... = $ 100

Line 10 (Input State Taxable refunds, from form 1099-G, based on last year State Tax Refund) .............................. = $ ______

Line 11 (Input Alimony received , paid by your former spouse after a legal divorce court) ..........................................= $ ______

Line 12 (Input Net Profit Business income or (loss). from Schedule C ) ........................................................................= $ 7,000

Line 13 (Input Capital gain or (loss). from Sale of Stocks, Home Sale,....from Schedule D ) .....................................= $ ______

Line 14 (Input Other Gains or (Losses). from sale of business properties, form 4797) ...............................................= $ ______

Line 15a (Input retirement IRA distributions, Forms 1099-R) 15a = $ ______ and part of Taxable amount 15b ..= $ ______

Line 16a (Input Pensions and annuities, Forms 1099-R) ...... 16a = $ ______ and part of Taxable amount 16b ..= $ 2,000

Line 17 (Input Net Incomes of Rental, Royalty, Partnership, S-Corporation, Trust after deductions, Schedule E) ....= $ 1,800

Line 18 (Input Net Farm income or (loss), from Schedule F) ..........................................................................................= $ ______

Line 19 (Input Unemployment compensation , from form 1099-G ) ................................................................................= $ ______

Line 20a (Input Social security benefits, forms SSA) 20a = $ ______ and part of Taxable amount 20b..................= $ ______

Line 21 (Input Other income as Gambling, Jury, Foreign Exclusion, Debt Cancel, Hobby, Medicare, .......) .............= $ ______

Line 22 (Add all various income amounts from lines 7 through 21. This is your total income ) ................................= $ 61,000

●● Next is ADJUSTED GROSS INCOME, Input all of your and your spouse's (if married) adjustment to the incomes, from line 23 to line 37. Line 36 is the total adjustment. Line 37 is the AGI (Adjusted gross income) Line 37 = Line 22 minus line 36 . No other family member's adjustments (kids, relatives) in here, except their high education college tuitions, fees and student loan interest. Work and attach supportive forms.

Line 23: (Input your & Spouse's Educator Expenses, max $250, if career is teaching ) ........................................... = $ ______

Line 24 (Input business expenses of reservists, performing artists, and ...Form 2106) ............................................. = $ ______

Line 25 (Input Health savings account deduction. Form 8889) ..........................................= $ _______

Line 26 (Input Moving expenses. Form 3903) .................................................................... = $ _______

Line 27 (Input One-half of self-employment tax. from Schedule SE) ................................. = $ 495

Line 28 (Input Self-employed SEP, SIMPLE, and qualified plan) ..................................... = $ _______

Line 29 (Input Self-employed health insurance deduction) .................................................= $ _______

Line 30 (Input Penalty on early withdrawal of savings).........................................................= $ _______

Line 31a (Input Alimony paid to your former spouse after a legal divorce court) .............= $ _______

Line 32 (Input IRA Contribution deduction for this tax year)..................................................= $ _______

Line 33 (Input Student loan interest deduction, Form 1098-E) ............................................= $ _______

Line 34 (Input Tuition and fees. Form 8917 and 1098-T) .....................................................= $ _______

Line 35 (Input Domestic production activities deduction. Form 8903) ...............................= $ _______

Line 36 (Add all various adjustment amounts from lines 23 through 35. This is your total adjustment ) .....................= $ 495

Line 37 (Adjusted gross income. Line 22 minus line 36 ) ...............................................................................................= $ 60,505

●● Next is TAX and CREDITS, Input all of your and your spouse's (if married) deductions of home mortgage interest, property tax, personal taxes, state income taxes, foreign tax,.... child credit, education credit, energy credits,.. from line 38 to line 55. Line 46 is the computed income tax based on the taxable income. At line 39a, check boxes if applied. Each check counts 1. Total boxes checked could be 0,1,2,3,4.

Line 54 is the total credits from line 47 through line 53. Line 55 is the tax on taxable income, after credits. Line 55 is the income tax after all credits.

Form 1040 page 2

End of Form 1040 U.S. Individual Income Tax Return

2010 Federal Tax Rate Schedules (to compute Tax at line 44, based on Taxable Income Line 43).

Standard Deduction

Generally, your standard deduction is:

● $5,700 if single or married filing separately.

● $11,400 if married filing jointly or qualifying widow(er).

● $8,400 if head of household.

Collected questions and answers (Feed Back from Clients)