Instructions For Form 1040ez - Income Tax Return - Internal Revenue Service

2010 Form 1040EZ— Lines 2 through 6

2010 income. But you must use Form 1040A or 1040 to do so.

If you received an overpayment of unemployment compensa-

See Pub. 550 for details.

tion in 2010 and you repaid any of it in 2010, subtract the

amount you repaid from the total amount you received. Enter

For more information on interest received, use TeleTax

the result on line 3. However, if the result is zero or less, enter

topic 403 (see page 26).

TIP

-0- on line 3. Also, enter “Repaid” and the amount you repaid

in the space to the left of line 3. If, in 2010, you repaid

unemployment compensation that you included in gross in-

come in an earlier year, you can deduct the amount repaid.

If you cashed U.S. Series EE or I Savings Bonds in 2010 that

But you must use Form 1040 to do so. See Pub. 525 for details.

were issued after 1989 and you paid certain higher education

expenses during the year, you may be able to exclude from

income part or all of the interest on those bonds. But you must

Alaska Permanent Fund dividends.

Include the dividends

use Form 8815 and Form 1040A or 1040 to do so.

in the total on line 3. But you cannot use Form 1040EZ for a

child who was age 18 or under or a full-time student under

You must use Form 1040A or 1040 if any of the following

age 24 at the end of 2010 if the child’s dividends are more

apply.

than $1,900. Instead, you must file Form 8615 and Form 1040A

•

You received interest as a nominee (that is, in your name

or 1040 for the child. You also must use Form 8615 and Form

but the interest income actually belongs to someone

1040A or 1040 for the child if the child’s dividends and taxable

else).

interest (line 2) total more than $1,900. A child born on Janu-

•

You received a 2010 Form 1099-INT for U.S. savings bond

ary 1, 1992, is considered to be age 19 at the end of 2010. A

interest that includes amounts you reported before 2010.

child born on January 1, 1987, is considered to be age 24 at

•

the end of 2010. Do not use Form 8615 for such a child.

You owned or had authority over one or more foreign

financial accounts (such as bank accounts) with a com-

bined value over $10,000 at any time during 2010.

Tax-Exempt Interest

Line 6, Taxable Income

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

Your taxable income and filing status will determine the

1099-INT. Enter “TEI” and the amount in the space to the left of

amount of tax you enter on line 11.

line 2. Do not add tax-exempt interest in the total on line 2.

Figuring taxable income incorrectly is one of the most

common errors on Form 1040EZ. So please take extra

care when subtracting line 5 from line 4.

Line 3, Unemployment Compensation

CAUTION

and Alaska Permanent Fund Dividends

If you received Forms SSA-1099 or RRB-1099 (showing

amounts treated as social security) use the worksheet below to

Unemployment compensation.

You should receive a Form

determine if you can file Form 1040EZ.

1099-G showing in box 1 the total unemployment compensa-

tion paid to you in 2010. Report this amount on line 3. If

married filing jointly, also report on line 3 any unemployment

Worksheet To See if Any of Your Social

compensation received by your spouse. If you made contribu-

tions to a governmental unemployment compensation pro-

Security Benefits Are Taxable

gram, reduce the amount you report on line 3 by those

Keep for Your Records

contributions.

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?

None of your social security benefits are taxable.

No.

STOP

Enter one-half of line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes.

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 Form

1040EZ, line 3 above) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. Enter your total interest income, including any tax-exempt interest . . . . . . . . . . . . . . . . . . . . . . . . . . .

5. Add lines 2, 3, and 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. If you are:

}

•

Single, enter $25,000

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

•

Married filing jointly, enter $32,000

7. Is the amount on line 6 less than the amount on line 5?

None of your social security or railroad retirement benefits are taxable this year. You can use Form

No.

1040EZ. Do not list your benefits as income.

Some of your benefits are taxable this year. You must use Form 1040A or 1040.

Yes.

STOP

- 11 -

Instructions for Form 1040EZ

Instructions For Form 1040ez - Income Tax Return - Internal Revenue Service - 2010 Page 11

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