Intro to 1040

10.4 Filing Your Income Tax

Finite Math

EQ: Thursday, March 7, 2024

● How do I file a federal income tax (basics)?

Match

Match the following

• W-4

• W-2

• 1040

• 540

• 10-4

Tells employer amount of tax to hold

Tells employer what was reported to IRS

Used to file a Federal Tax Return

Used to file a California Tax Return

Affirmative (police code)

• Tells employer amount of tax to hold

• Tells employer what was reported to IRS

• Used to file a Federal Tax Return

• Used to file a California Tax Return

• Affirmative (police code)

Match

Match the following.

• Schedule A

• Schedule B

• 1099

• 611

Used to itemized deductions

Used to show income from interest

Used to show income not on

W-2

Used to call Cust. Ser. of cell provider

• Used to itemized deductions

• Used to show income from interest

• Used to show income not on

  W-2

• Used to call Cust. Ser. of cell provider

Match

Match the dates.

• April 15

• October 15

• January 31

• February 2

• March 14

1040 Due to IRS

1040 Due to IRS with Extension

W-2 due to employee

Groundhog Day

Day

• 1040 Due to IRS

• 1040 Due to IRS with Extension

• W-2 due to employee

• Groundhog Day

• $$\pi$$ Day

Multiple Select

Lisa was married, then got divorced in 2023. Her ex-husband is still alive. She supports her daughter. How can she file her 2023 1040 Tax Return?

• Single

• Married filing jointly

• Married filing separately

• Head of Household

• Qualified surviving spouse

Multiple Select

Lisa was married, then got divorced in 2021. Her ex-husband is still alive. She supports her daughter. How can she file her 2023 1040 Tax Return?

• Single

• Married filing jointly

• Married filing separately

• Head of Household

• Qualified surviving spouse

Multiple Choice

You made $4,500 in wages as shown on your 2023 W-2. Should you check the box labeled "You as a dependent" on the Standard Deduction?

• No

• Yes

1a

1z

8

9

11

12

14

15

​Line 1a. W-2 Box 1

1a

1z

8

9

11

12

14

15

​Line 1z. Sum of all "1" sections. Should be the same as 1a.

1a

1z

8

9

11

12

14

15

Line 9. Your ​Total Income from all above.

1a

1z

8

9

11

12

14

15

Line 11. Your AGI (Adjusted Gross Income)

1a

1z

8

9

11

12

14

15

Line 12. Deductions
Standard or Itemized

Fill in the Blanks

What amount gets entered on Line 12 if you don't itemized and are filing as Head of Household?

1a

1z

8

9

11

12

14

15

Line 14. Sum of 12 and 13.
Personal + Business Deductions

1a

1z

8

9

11

12

14

15

Line 15. Your Taxable Income

​Line 16. Your Taxes

Multiple Choice

Which Line number do you use in the tax table?

• Line 15

• Line 12

• Line 16

• Line 11

Fill in the Blanks

What is the 2023 tax amount for a taxable income of $26,250 (Line 15) if filing status is Single?

Fill in the Blanks

What is the 2023 tax amount for a taxable income of $53,888 (Line 15) if your status is Head of Household?

Fill in the Blanks

What is the 2023 tax amount for an AGI of $12,450 (Line 11) if filing status is Single?

​Line 18. Should be the same as 16.
Your Taxes plus taxes from Schedule 2

​Line 22. Should be zero.
Subtract 21 from 18.

​Line 24. Your total taxes

​Line 25a. Taxes your employer withheld as shown on W-2, Box 2

Line 25d. Sum. Should be the same as 25a.

​Line 32. Sum of other payments.

Line 33. Total payments already paid.

Line 34. You Refund
Line 37. Amount Owed

Multiple Choice

Line 24 is $2,000

Line 33 is $1,500

• You owe $500 on Line 37

• You owe $500 on Line 34

• You will get a refund on Line 34

• You will get a refund on Line 37