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    Calculate Completing A 1040

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    The document provides instructions for completing federal income tax form 1040 using sample W-2 forms for five characters. It includes a table with personal and employment information for Borris Oswald, including his W-2 form. The instructions state to use the sample 1040 form or print one from the IRS website. Directions are given to fill out specific lines on the 1040 form, with assumptions for certain lines where additional information is not provided.

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    Calculate Completing A 1040

    Uploaded by

    api-492177450
    3K views2 pages
    The document provides instructions for completing federal income tax form 1040 using sample W-2 forms for five characters. It includes a table with personal and employment information for Borris Oswald, including his W-2 form. The instructions state to use the sample 1040 form or print one from the IRS website. Directions are given to fill out specific lines on the 1040 form, with assumptions for certain lines where additional information is not provided.

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    The document provides instructions for completing federal income tax form 1040 using sample W-2 forms for five characters. It includes a table with personal and employment information for Borris Oswald, including his W-2 form. The instructions state to use the sample 1040 form or print one from the IRS website. Directions are given to fill out specific lines on the 1040 form, with assumptions for certain lines where additional information is not provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views2 pages

    Calculate Completing A 1040

    Uploaded by

    api-492177450
    The document provides instructions for completing federal income tax form 1040 using sample W-2 forms for five characters. It includes a table with personal and employment information for Borris Oswald, including his W-2 form. The instructions state to use the sample 1040 form or print one from the IRS website. Directions are given to fill out specific lines on the 1040 form, with assumptions for certain lines where additional information is not provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    CALCULATE: Completing a 1040

    The 1040 is the form that Americans use to complete their federal income tax returns. In this
    activity, you will use sample W-2 forms to complete 1040 forms for five different characters.

    Part I: Scenario

    Name Personal Info Employment Info W-2


    Form

    Borris ● Age 24 ● Is on salary and works


    Oswald ● Completed his first full full-time as a marketing
    Borris’
    year of working a associate
    W-2
    full-time job, living by
    himself

    *Note: The W-2s above all say 2018, but just pretend they’re from the current year instead.

    Part II: Completing the 1040


    To complete a tax return, use the 1040 provided to you or print from the IRS website ​here​.
    When done turn in to the basket.

    Follow the directions ​on ​every​ line​ of the 1040.


    ● For certain lines, you may need additional information. Consult the table below:

    Lines Assume $0 for each value


    2a-7a

    Line 8a No adjustments to income


    Line 9 Determine if the individual is/is not a dependent by reading the “Who qualifies
    as a dependent?” and “Qualifying Child” sections of​ ​this article​. Then, follow
    the directions below:

    ● If you are NOT a dependent,​ enter ​$12,200


    ● If you ARE a dependent​, and line 7b is >$12,200, enter $
    ​ 12,200
    ● If you ARE a dependent​, and line 7b is <$12,200, add ​$350 to line 7b
    and enter that total here

    Line 10 Assume no Qualified Business Income Deduction

    Line 12a ● To find tax for 12a, refer to the tax table starting on​ ​page 62 of the 1040
    Instructions
    ● In these scenarios, no one needs to complete additional forms or
    Schedule 2

    Line 13 Assume no child tax credits

    Line 15 Assume no other taxes

    Line 17 Assume no 1099 form

    Line 18 Assume no refundable credits

    Line 21 If line 20 indicates they overpaid, complete line 21a that they’d like a full
    refund. You should NOT enter bank account information.

    Line 23 If they owe money, complete the calculation here.

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