Individual Tax Returns
What to bring to your appointment:
•Proof of identification
•Social Security Numbers for you, your spouse, and dependents
•Birth dates for you, your spouse, and dependents
•Wages and earnings statements: Forms W-2, W-2G, 1099-R, etc.
•Form 1095 (ACA) insurance form.
•Interest and dividends statements from banks, brokerages, etc.
•A copy of last year's tax return
•Bank routing and account numbers
•The amount you paid for childcare and the childcare provider's tax identification number
•Receipts for charitable donations
Which form to file?
Starting in 2019 everyone will file the same 1040 form for filing your tax return. For prior year tax returns you have 2 options explained below.
Your income is only from:
•Salaries
•Wages
•Tips (must be reported in boxes 5 and 7 of Form W-2)
•Unemployment compensation
•Taxable scholarships and fellowship grants
•No more than $1,500 in interest income
•Alaska Permanent Fund dividends
Form 1040A
You can file Form 1040A if all the following are true:
•Your income is only from:
•Wages, salaries, tips
•Interest and ordinary dividends
•Capital gain distributions
•Taxable scholarship and fellowship grants
•Pensions, annuities and IRAs
•Unemployment compensation
•Taxable Social Security and railroad retirement benefits
•Alaska Permanent Fund dividends
Your adjustments to income are only from:
•Educator expenses
•IRA deduction
•Student loan interest deduction
•Tuition and fees deduction
•You do not itemize deductions
•Your taxable income is less than $100,000
•You did not have an alternative minimum tax adjustment on stock acquired from the exercise of an incentive stock option
The only tax credits you claim are:
•Child and Dependent Care Credit
•Elderly or Disabled Credit
•Child Tax Credit
•Additional Child Tax Credit
•Education credits
•Retirement Savings Contribution Credit
•Earned Income Credit
•Adoption Credit
Form 1040
If you do not qualify to file Form 1040EZ or Form 1040A, you will file Form 1040. All types of income, credits, deductions, and taxes can be reported on this form. You must use Form 1040 for any of the following:
•You have self-employment income (including farm income).
•You received $20 or more in unreported tips in any one month.
•You received income as a partner in a partnership, as a shareholder of an S corporation, or as a beneficiary of an estate or trust.
•You received dividends on insurance policies if they exceed the total of all net premiums you paid for the contract.
•Your taxable income is $100,000 or more.
•You itemize deductions.
•Your Form W-2, box 12, shows uncollected tax on tips or group term life insurance.
•Your Form W-2, box 12, shows a code Z.
•You owe excise tax on insider stock compensation from an expatriated corporation.
•You are a debtor in a Chapter 11 bankruptcy case filed after October 16, 2005.
•You have an alternative minimum tax adjustment on stock you acquired from the exercise of an incentive stock option.
•You owe household employment taxes.
•You are claiming the adoption credit or received adoption benefits from an employer.
•You are eligible for the Health Coverage Tax Credit.
•You are an employee and your employer did not withhold Social Security and Medicare tax.
•You had a qualified health savings account funding distribution from your IRA.
•You have a net disaster loss attributable to a federally declared disaster.
What is my filing status?
Determining your filing status is the first step in determining your filing requirements, standard deduction and correct tax. Your filing status will usually be determined by whether you are married or unmarried.
There are five filing statuses:
•Single
•Married Filing Jointly
•Married Filing Separately
•Head of Household
•Qualifying Widow(er) with Dependent Child
What to bring to your appointment:
•Proof of identification
•Social Security Numbers for you, your spouse, and dependents
•Birth dates for you, your spouse, and dependents
•Wages and earnings statements: Forms W-2, W-2G, 1099-R, etc.
•Form 1095 (ACA) insurance form.
•Interest and dividends statements from banks, brokerages, etc.
•A copy of last year's tax return
•Bank routing and account numbers
•The amount you paid for childcare and the childcare provider's tax identification number
•Receipts for charitable donations
Which form to file?
Starting in 2019 everyone will file the same 1040 form for filing your tax return. For prior year tax returns you have 2 options explained below.
Your income is only from:
•Salaries
•Wages
•Tips (must be reported in boxes 5 and 7 of Form W-2)
•Unemployment compensation
•Taxable scholarships and fellowship grants
•No more than $1,500 in interest income
•Alaska Permanent Fund dividends
Form 1040A
You can file Form 1040A if all the following are true:
•Your income is only from:
•Wages, salaries, tips
•Interest and ordinary dividends
•Capital gain distributions
•Taxable scholarship and fellowship grants
•Pensions, annuities and IRAs
•Unemployment compensation
•Taxable Social Security and railroad retirement benefits
•Alaska Permanent Fund dividends
Your adjustments to income are only from:
•Educator expenses
•IRA deduction
•Student loan interest deduction
•Tuition and fees deduction
•You do not itemize deductions
•Your taxable income is less than $100,000
•You did not have an alternative minimum tax adjustment on stock acquired from the exercise of an incentive stock option
The only tax credits you claim are:
•Child and Dependent Care Credit
•Elderly or Disabled Credit
•Child Tax Credit
•Additional Child Tax Credit
•Education credits
•Retirement Savings Contribution Credit
•Earned Income Credit
•Adoption Credit
Form 1040
If you do not qualify to file Form 1040EZ or Form 1040A, you will file Form 1040. All types of income, credits, deductions, and taxes can be reported on this form. You must use Form 1040 for any of the following:
•You have self-employment income (including farm income).
•You received $20 or more in unreported tips in any one month.
•You received income as a partner in a partnership, as a shareholder of an S corporation, or as a beneficiary of an estate or trust.
•You received dividends on insurance policies if they exceed the total of all net premiums you paid for the contract.
•Your taxable income is $100,000 or more.
•You itemize deductions.
•Your Form W-2, box 12, shows uncollected tax on tips or group term life insurance.
•Your Form W-2, box 12, shows a code Z.
•You owe excise tax on insider stock compensation from an expatriated corporation.
•You are a debtor in a Chapter 11 bankruptcy case filed after October 16, 2005.
•You have an alternative minimum tax adjustment on stock you acquired from the exercise of an incentive stock option.
•You owe household employment taxes.
•You are claiming the adoption credit or received adoption benefits from an employer.
•You are eligible for the Health Coverage Tax Credit.
•You are an employee and your employer did not withhold Social Security and Medicare tax.
•You had a qualified health savings account funding distribution from your IRA.
•You have a net disaster loss attributable to a federally declared disaster.
What is my filing status?
Determining your filing status is the first step in determining your filing requirements, standard deduction and correct tax. Your filing status will usually be determined by whether you are married or unmarried.
There are five filing statuses:
•Single
•Married Filing Jointly
•Married Filing Separately
•Head of Household
•Qualifying Widow(er) with Dependent Child
FAMILY INCOME TAX SERVICES
2702 S. Vermont Ave. Los Angeles, CA 90007 Office Hours: M-F: 9am – 7pm S-S: 9am – 5pm ph# 323-402-0668 fax# 323-386-0668 [email protected] |
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