- Jan 23, 2008
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# 1040EZ
* Taxable income below $100,000
* Single or Married Filing Jointly
* Under age 65
* No dependents
* Interest income of $1,500 or less
# 1040A
* Taxable income below $100,000
* Capital gain distributions, but no other capital gains or losses
* Only tax credits for child, education, earned income, child and dependent care expenses, adoption, elderly and retirement savings contributions
* Only deductions for IRA contributions, student loan interest, educator expenses or higher education tuition and fees
* No itemized deductions
The 1040A has deductions for IRA contributions, student loan interest, educator expenses or higher education tuition and fees.
What does that really mean?
* Taxable income below $100,000
* Single or Married Filing Jointly
* Under age 65
* No dependents
* Interest income of $1,500 or less
# 1040A
* Taxable income below $100,000
* Capital gain distributions, but no other capital gains or losses
* Only tax credits for child, education, earned income, child and dependent care expenses, adoption, elderly and retirement savings contributions
* Only deductions for IRA contributions, student loan interest, educator expenses or higher education tuition and fees
* No itemized deductions
The 1040A has deductions for IRA contributions, student loan interest, educator expenses or higher education tuition and fees.
What does that really mean?
