Can you use 1040ez

Forms A and EZ are just simplified, shorter versions of Form They are intended for people who have uncomplicated tax returns.

Form EZ, for example, is a one-page form. On the other hand, you may be saving time, but missing out on tax benefits and paying more tax than you should by opting for a shorter tax form under tax tables Form A covers a little more information. And the regular Form lets you report all types of tax information.

All of the forms use the same tables to calculate your income tax liability. Certain items on a return trigger the need to use Forms A or tax tables , rather than Form EZ. Having kids you want to claim as dependent immediately bumps you to at least a Form A. In a nutshell, if your itemized deductions are greater than the standard amount allowed, you will benefit by filing a instead of a EZ. Every tax form calculates your adjusted gross income, or AGI, as the total income you report minus specific deductions the IRS refers to as adjustments to income.

Common adjustments include the deduction for student loan interest, traditional IRA contributions, self-employment taxes and alimony payments. Lastly, if you use a EZ, you cannot claim any tax credits except for the earned income credit. Remember, with TurboTax , we'll ask you simple questions about your life and help you fill out all the right tax forms. Whether you have a simple or complex tax situation, we've got you covered. Feel confident doing your own taxes.

Just answer simple questions about your life, and TurboTax Free Edition will take care of the rest. For Simple Tax Returns Only.

Video: When to Use Tax Form Claiming the Foreign Tax Credit with Form If you are filing your federal income tax return electronically, you may not notice any changes at all, since your software should automatically add any needed schedules. If you use a tax preparer, you also may not notice any changes; if you have questions about why your final return looks different, just ask.

This is a BETA experience. You may opt-out by clicking here. More From Forbes. Nov 13, , am EST. Such calculations are made on Form , which only can be filed with Form A or If you received advance payments of the premium tax credit, you must file one of these longer forms instead of the EZ.

Even if you did not get the premium credit in advance but got health care through an exchange and want to claim it when you file, you must complete A or Take the case of tax filer Joe P. A perfect EZ filer, right? Joe has a student loan. Joe also would get the chance to reduce his actual bill if he files the longer A.

The better tax news for Joe is that a credit allows you a dollar-for-dollar reduction of what you owe the IRS. But the only tax credit shown on the EZ is the earned income tax credit, available only to low-income taxpayers.

And there are even more tax-saving opportunities found on the long Form They might not apply to Joe, but they could cut your tax bill — if you take the time to look over each of the forms. Here are the basic guidelines for the three individual tax returns. And ever since the IRS doubled the earning limit on filers who use it, the EZ has been available to even more taxpayers. The ease of the one-page EZ is appealing, but it limits the number of ways to save on your tax bill.

You also need to look at those other two individual tax returns to take advantage of additional income adjustments and tax credits. Compare rates at Bankrate. The A form is the next step up the tax-form ladder. As with Form EZ, the earning limit on filers wanting to use the A has increased, so more taxpayers should be able to use it.

Individuals choosing the A can file using any of the five available filing status options: single, married filing jointly or separately, qualifying widow or widower, or head of household.

People who file the A also can claim, in addition to the EITC, several tax credits — the child, additional child, education, dependent care, elderly or disabled, and retirement savings credits — that are not available with the EZ. Form A also gives you the chance to claim several adjustments to income.

These items are sometimes referred to as above-the-line deductions, because you claim them just before the bottom line of the form, the one where you enter your adjusted gross income.