Lesson EZ Instructions

Round all values To the nearest dollar

Line 1: Wages, Salaries and tips. Box 1 from your W-2 form(s).

Line 2: Taxable Interest Total all interest made from bank accounts.

Line 3: Unemployment and Alaska Permanent Fund dividends. Total all Unemployment compensation and Alaska residency money received.

Line 4: Adjusted Gross Income Add lines 1, 2 and 3 together.

Line 5: Deductions and Exemptions If single enter $10,300 ($6,300 standard deduction + 1 Exemption $4000) If married enter $20,600 (12,600 standard decuction + 2 Exemptions $8,000)

Line 6: Taxable Income Subtract Line 5 from Line 4 and enter amount. If Line 5 is larger then Line 4, enter 0.

Line 7: Federal Income Tax Withheld Box 2 from your W-2 form(s).

Line 8: Earned Income tax credit/Non taxable combat pay Earned Income tax credit is for people living below the poverty level. Non taxable combat pay is for soldiers in a war zone. Both require an extra table/form to complete. We will just enter 0.

Line 9: Total Payments and Credits Add Lines 7 and 8 together.

Line 10: Tax Look your line 6 amount up in the tax tables to see how much tax you actually owe.

Line 11: Health Care individual responsibility Check the box Full year coverage Enter 0 in the line.

Line 12: Total Tax Add lines 10 and 11 together.

Line 13: Refund If you are eligible for a refund Amount owed (line 12) is less than amount withheld (line 7) Subtract line 12 from line 7 and enter amount. Fill out Bank account information for a Direct Deposit.

Line 14: Amount you owe If you have to Owe more money Amount owed (line 12) is more than amount withheld (line 7) Subtract line 7 from line 12 and enter amount.