Ask Experts Questions for FREE Help !
Ask
    galeigh0077's Avatar
    galeigh0077 Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 15, 2008, 11:41 AM
    Stimulus rebate check
    What is the difference between filing a 1040 tax form and a 1040a form?
    justwonder2's Avatar
    justwonder2 Posts: 12, Reputation: 2
    New Member
     
    #2

    Feb 17, 2008, 02:55 PM
    They are the same form but the 1040a is a shorter version of 1040. In order for you to file the 1040a you have to meet the following:
    1. You only had income from the following sources:
    Wages, salaries, tips,
    Interest and ordinary dividends,
    Capital gain distributions,
    Taxable scholarships and fellowship grants,
    Pensions, annuities, and IRAs,
    Unemployment compensation,
    Taxable social security and railroad retirement benefits,
    Alaska Permanent Fund dividends,
    Jury duty pay.

    2. Your taxable income (your income after all allowable tax deductions) is less than $100,000.
    3. You do not itemize tax deductions.
    4. The only adjustments to income you can claim are jury duty pay to your employer, IRA deduction, student loan interest deduction, or penalty of early withdrawel of savings.
    5. The only tax credits you can claim are child tax credit, additional child tax credit, education credits, Earned Income Credit , credit for child and dependent care expenses, credit for the elderly or disabled, retirement savings contributions credit, or federal telephone excise tax credit paid.
    6. You did not have an alternative minimum tax adjustment on stock you acquired from the exercise of an incentive stock option plan (see Publication 525).

    You can also use Form 1040A if you received advance Earned Income Credit (EIC) payments, dependent care benefits, or employer-provided adoption benefits, or if you owe tax from the recapture of an education credit or the alternative minimum tax.

    Reference from: 1040 IRS Forms: Find federal income tax forms for filing tax returns

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Stimulus Tax Rebate Check [ 4 Answers ]

We have two adult children, 19 and 21, both in college and both earned over $3000 last year. We as their parents file jointly and claim them as our dependents. My question is this: Will our children get a rebate check of $600 a piece or will we get one for each of them under the $300 dependent...

Stimulus tax rebate checks [ 5 Answers ]

Will non-resident aliens with H-1B visas get the currently discussed tax rebate checks as well that the government is going to send to taxpayer to stimulate the economy? I have been in the States for the last 4 working etc.

Stimulus Clarification [ 1 Answers ]

I just need some clarification as to the stimulus plan, so here are my details - I was laid off last year(2007). My wife and I filed jointly for 2007. My Gross Adjusted Income was about $9000. $3000 was Earned Income(Jobs), while the rest was Unemployment. Totally, we paid $651 in federal...

Stimulus plan? [ 20 Answers ]

Personally, though I could use the extra cash I'm not excited about stimulating the economy by putting the government further in debt. I mean seriously, if the government wants to stimulate my spending they can just stop stealing so much of my money and for instance, trying to give it to idiots...

Nontaxpaer rebate check [ 1 Answers ]

If it is approved. Will social security recipients get a rebate check too??


View more questions Search