Form 1040 A is more detailed than Form 1040 Ez, and if you do not qualify to use Form 1040EZ, you may be able to use Form 1040A.
Your income comes only from Wages, salaries and tips, Interest.
- Ordinary dividends
- Capital Gain Distributions.
- IRA account distributions.
- Pensions and annuities.
- Unemployment compensation.
- Taxable Social Security and Railroad Retirement Benefits, Professional Development, etc …
Among others.
If you are not sure which form you have to fill out or it is one of the people who only go to the preparer and do not know what they are doing on their taxes. Visit us at our office or | CONTACT US | Villacorta Professional Services we are professional tax preparers, we provide you with the appropriate advice according to your personal, immigration and employment situation.
Form 1040 or Long Form
The 1040 Tax form is better known as the Lagar or detailed form because with this you can make greater deductions in the tax return since it is used for those people who have are business owners or homeowners.
What some think of Form 1040 or Long Form of Taxes?
You may pay less tax filing Form 1040 because you can take itemized deductions, some adjustments to income, and credits that you cannot take on Form 1040A or Form 1040EZ, as long as it is convenient for you to fill it out because many people may think that by filling one long form will help you get more reimbursement or lower the tax to pay. The truth is that this is not always the case, that is why it is very important to look for an experienced tax professional to evaluate your personal or family, immigration and employment case so that they fill out the correct form as it should be presented to the IRS.
Who can fill out the 1040 or Long Form?
- Your income comes only from Wages, salaries and tips, Interest.
- Homeowners
- Business Owners
- 1099 Mics
- Ordinary dividends
- Capital Gain Distributions.
- IRA account distributions.
- Pensions and annuities.
- Unemployment compensation.
- Taxable Social Security benefits, railroad retirement, scholarships, professional development, etc.
- Among others.