Instructions For Form 1040ez - Income Tax Return For Single And Joint Filers With No Dependents - Internal Revenue Service - 2007 Page 10
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36Form 1040EZ — Lines 2, 3, 7, 8a, and 8b
•
Form 1040A or 1040 for the child if the child’s dividends and
You received interest as a nominee (that is, in your name but
taxable interest (line 2) total more than $1,700. A child born on
the interest income actually belongs to someone else).
•
January 1, 1990, is considered to be age 18 at the end of 2007. Do
You received a 2007 Form 1099-INT for U.S. savings bond
not use Form 8615 for such a child.
interest that includes amounts you reported before 2007.
Tax-Exempt Interest
Payments and Tax
If you received tax-exempt interest, such as from municipal bonds,
each payer should send you a Form 1099-INT. Your tax-exempt
interest should be included in box 8 of Form 1099-INT. Enter “TEI”
Line 7
and the amount in the space to the left of line 2. Do not add
tax-exempt interest in the total on line 2.
Federal Income Tax Withheld
Enter the total amount of federal income tax withheld. This should
be shown on your 2007 Form(s) W-2 in box 2.
Line 3
If you received a 2007 Form 1099-INT, 1099-G, or 1099-OID
Unemployment Compensation and Alaska
showing federal income tax withheld, include the tax withheld in
Permanent Fund Dividends
the total on line 7. This tax should be shown in box 4 of these forms.
You should receive a Form 1099-G
Unemployment compensation.
If federal income tax was withheld from your Alaska Permanent
showing in box 1 the total unemployment compensation paid to you
Fund dividends, include the tax withheld in the total on line 7.
in 2007. Report the amount in box 1 on line 3. However, if you
made contributions to a governmental unemployment compensa-
tion program, reduce the amount you report on line 3 by those
Lines 8a and 8b
contributions.
Earned Income Credit (EIC)
If you received an overpayment of unemployment compensation
in 2007 and you repaid any of it in 2007, subtract the amount you
repaid from the total amount you received. Include the result in the
What Is the EIC?
total on line 3. Also, enter “Repaid” and the amount you repaid in
The EIC is a credit for certain people who work. The credit may
the space to the left of line 3. If you repaid unemployment compen-
give you a refund even if you do not owe any tax.
sation in 2007 that you included in gross income in an earlier year,
you can deduct the amount repaid. But you must use Form 1040 to
If you have a qualifying child (see page 11), you may be able
Note.
do so. See Pub. 525 for details.
to take the credit, but you must use Schedule EIC and Form 1040A
or 1040 to do so. For details, see Pub. 596.
Include the dividends in the
Alaska Permanent Fund dividends.
total on line 3. But you cannot use Form 1040EZ for a child who
To Take the EIC:
was under age 18 at the end of 2007 if the child’s dividends are
•
more than $1,700. Instead, you must file Form 8615 and Form
Follow the steps on pages 11 through 12.
1040A or 1040 for the child. You must also use Form 8615 and
Worksheet To See if Any of Your Social Security Benefits Are Taxable
Keep for Your Records
Before you begin:
If you are filing a joint return, be sure to include any amounts your spouse received when
entering amounts on lines 1, 3, and 4 below.
1. Enter the amount from box 5 of all your Forms SSA-1099
and Forms RRB-1099 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
2. Is the amount on line 1 more than zero?
No.
None of your social security benefits are taxable.
STOP
Yes. Enter one-half of line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Enter your total wages, salaries, tips, etc., from Form(s) W-2. Also, include any taxable
unemployment compensation and Alaska Permanent Fund dividends you received (see the
instructions for line 3 above) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Enter your total interest income, including any tax-exempt interest . . . . . . . . . . . . . . . . . .
4.
5. Add lines 2, 3, and 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. If you are:
}
•
Single, enter $25,000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
•
Married filing jointly, enter $32,000
7. Is the amount on line 6 less than the amount on line 5?
No.
None of your social security benefits are taxable this year. You can use Form 1040EZ.
Do not list your benefits as income.
Yes.
Some of your benefits are taxable this year. You must use Form 1040A or 1040.
STOP
Need more information or forms? See page 31.
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