Lola is filing her federal income tax with the 1040EZ form using the single filing status and nobody can claim her as a dependen
t. If she had wages, salaries, and tips of $39,700, taxable interest of $190, and no unemployment compensation, what should she enter on line 6 of the income section below?
A. $39,890
B. $30,540
C. $0
D. $21,190
A. $39,890
B. $30,540
C. $0
D. $21,190
2 answers:
On line 1, you would input 39,700, as that number represents your wages, salaries, and tips.
On line 2, you would input 190, as that represents your taxable interest.
On line 3, you have no unemployment compensation, so you would input 0.
Line 4 asks you to add all values from lines 1, 2, and 3. Add the totals:
Line 4 would have a value of 39,890.
Line 5 asks you to enter two values if you are unable to claim as a dependent. The value inputted depends on the submitter's status. Lola is single, which means that she would input 9,350.
Line 6 asks you to subtract the value of line 5 from line 4:
The answer is B. $30,540.
On line 2, you would input 190, as that represents your taxable interest.
On line 3, you have no unemployment compensation, so you would input 0.
Line 4 asks you to add all values from lines 1, 2, and 3. Add the totals:
Line 4 would have a value of 39,890.
Line 5 asks you to enter two values if you are unable to claim as a dependent. The value inputted depends on the submitter's status. Lola is single, which means that she would input 9,350.
Line 6 asks you to subtract the value of line 5 from line 4:
The answer is B. $30,540.
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