Ask Experts Questions for FREE Help !
Ask

Income Tax Form 1040-8a

Asked Feb 1, 2006, 12:39 PM — 1 Answer
Could you please tell me how how to obtain the TAXABLE INTEREST (8a) on Income Tax Form 1040 if W-2 wages is $39,528.02. I greatly appreciate your help.

Thank's a lot!

1 Answer
AtlantaTaxExpert's Avatar
AtlantaTaxExpert Posts: 19,866, Reputation: 3723
Senior Tax Expert
 
#2

Feb 1, 2006, 07:19 PM


Ale:

You misinterpreted the intent of Line 8a. It has nothing to do with your W-2 income.

Taxable interest is the interest you receive from banks, credit unions, savings and loans, brokerage houses, etc. On money you have deposited with them. You can get this information of the Form 1099-INT that these institutions will send you. If the amount of interest is less than $10, you will not get a Form 1099-INT and you do not have to report it.
Helpful

Not your question? Ask your question View similar questions

 
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Add your answer here.

Remove Text Formatting

Undo
Redo
 
Decrease Size
Increase Size
Bold
Italic
Underline
Align Left
Align Center
Align Right
Ordered List
Unordered List
Decrease Indent
Increase Indent
Insert Email Link
Wrap [QUOTE] tags around selected text
Wrap [CODE] tags around selected text
Wrap [HTML] tags around selected text
Wrap [PHP] tags around selected text
Wrap [YOUTUBE] tags around selected text
Notification Type:



Check out some similar questions!

OPT-H1(Oct2005) - used form 1040 [ 1 Answers ]

Hi, I arrived on F1 in US in aug-02. Graduated dec-04 Worked on OPT till oct-2005, then on H1 till present.... Since the flowchart in pub-529 is not very clear on how to determine are or NR status, I filled out form 1040. But after reading many forums in guess I should have filled 1040NR since...

Dual status. What to fill in form 1040 NR [ 1 Answers ]

Dear AtlantaTaxExpert, I was on F1 for 2001 and mid 2002 for the duration of my MBA. Left the US by mid 2002. Moved to Europe and worked there for 2003, 2004 and the first three months of 2005. -In April 2005 I quit my job and came to the US on holidays for 45 days. Left the US for a couple of...

Tax Return Form 1040-Question No. 10 [ 1 Answers ]

First of all, thank you for answering my previous question. I now need to know how to answer question no. 10-Taxable refunds, credits, or offsets of state and local income taxes if my wages for 2005 is $35,179.65. This will help me get my adjusted gross income to fill out my financial aid...

Filing 1040 and 1040 NR [ 1 Answers ]

If I earn part of my income on my OPT and part on my H-1, can I use the India deductible of $4500 for my OPT part of the income, and $4850 std deductible for the H1 part of the income?

1040NR or 1040 if 1040 returns are more [ 1 Answers ]

Thanks AtlantaTaxExpert you are AWESOME :) Thanks for all who help us. I am qualified for 1040NR and I filled out both forms 1040NR-EZ and 1040 to check. 1) Can I claim qualified education expenses? Because I pay the loan of 5400 and also paid around 250$ of interest. If I add 5400 as ...


View more Taxes questions Search