1040 Ez Instructions 2015 Page 11
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442015 Form 1040EZ—Line 2
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?
STOP
No.
None of your social security benefits are taxable.
Yes.
Multiply line 1 by 50% (0.50) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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 Form 1040EZ, line 3, later) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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?
None of your social security or railroad retirement benefits are taxable this year. You can use
No.
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
left of line 1. However, if you were a degree candidate, in-
Include interest received on amounts deposited with banks,
clude on line 1 only the amounts you used for expenses oth-
savings and loan associations, credit unions, or similar organiza-
er than tuition and course-related expenses. For example,
tions. If interest was credited in 2015 on deposits that you
amounts used for room, board, and travel must be reported
couldn't withdraw because of the bankruptcy or insolvency of the
on line 1. For more information on taxable scholarships and
financial institution, you may be able to exclude part or all of that
grants, see Pub. 970.
interest from your 2015 income. But you must use Form 1040A
or 1040 to do so. See Pub. 550 for details.
You must use Form 1040A or 1040 if you received
dependent care benefits for 2015. You must use
For more information on interest received, see Tax
!
Form 1040 if you received employer-provided adop-
Topic 403 at
TIP
CAUTION
tion benefits for 2015.
Missing or incorrect Form W-2? Your employer is required to
You should also include taxable interest on bonds and other
provide or send Form W-2 to you no later than February 1, 2016.
securities. If you cashed U.S. series EE or I savings bonds in
If you do not receive it by early February, see Tax Topic 154 at
2015 that were issued after 1989 and you paid certain higher ed-
to find out what to do. Even if you do not
ucation expenses during the year, you may be able to exclude
get a Form W-2, you still must report your earnings on line 1. If
from income part or all of the interest on those bonds. But you
you lose your Form W-2 or it is incorrect, ask your employer for a
must use Form 8815 and Form 1040A or 1040 to do so.
new one.
You must use Form 1040A or 1040 if you received taxable in-
terest of more than $1,500. You also must use Form 1040A or
1040 if any of the following apply.
2
Line 2, Taxable Interest
You received interest as a nominee (that is, in your name
but the interest income actually belongs to someone else).
If you received interest payments, you should receive a Form
You received interest from a seller-financed mortgage and
1099-INT or Form 1099-OID from each payer. Report all of your
the buyer used the property as a personal residence.
taxable interest income on line 2 even if you did not receive a
You have accrued interest from a bond.
Form 1099-INT or 1099-OID. If you are filing a joint return, also
You are reporting original issue discount (OID) in an amount
include any taxable interest received by your spouse.
less than the amount shown on Form 1099-OID.
-11-
Instructions for Form 1040EZ
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