
Tax help! Filing a joint income 1040EZ tax form in this free video on tax tips.
All Videos In The Series, "How to Complete and File a 1040EZ Tax Form"
"I'm going to show you now an example of filing out the Form 1040EZ for a joint return. In the example, we have James B. Jones, who worked for John L. Smith Construction Company, and he's married to Sarah J. Jones, who worked for the Mary J. Smith Bakery. James earned $34,210.25, and Mary earned $12,600, so when we look we see those two amounts in box "1". We add those two amounts together and add that amount to line "1", which is $46,810. And we also note that James had $510 in interest income, so we add that to line "2". And there's no unemployment, or Alaska Funds Dividend, so that's zero. And when we add those amounts together, lines "1", "2", and "3", we get $47,320 that's adjusted gross income. Both James and Sarah are not claimed by anyone else as a dependent, so their "Married Filing Jointly" deduction is $17,500. We put that amount on line "5", and subtract that from line "4" and that gives us $29,820 as their taxable income."
Expert Village: Tom Noah
Video Series: Personal Finance
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