Income Tax

What form is used to file a federal income tax return?

• W-2

• W-4

• 1040

• 540

What form is used to file a California state income tax return?

• 540

• 1040

• Schedule CA

• Schedule B

Why would you use a Schedule A with your 1040?

• You are required to complete a Schedule A.

• You have deductions that would be less than the standard deduction.

• You have deductions that would be more than the standard deduction.

• You have taxable interest and dividends to report.

You are taking the itemized deductions from Schedule A. On Line 12b of your 1040 you would...

• list your charitable contributions.

• leave blank.

• use the tax table.

• list your dependent expenses.

Steven is single with taxable income of $100,000.

Seth and Susan are married each have taxable income of $50,000. Who will pay more taxes?

• Steven, filing as single

• Seth and Susan, filing as married filing jointly

• Their taxes will be equal because both tax returns will have total income of $100,000.

Where would you find the dollar amount that goes on line 25a of the 1040?

• Box 2 of the W-2

• Box 1 of the W-2

• Box 16 of the W-2

• Box 17 of the W-2

The adjusted gross income (AGI) on Line 11 of the 1040 includes...

• taxable interest income

• ordinary dividends

• other sources of income

• ALL of these.

What is required on the 540 that is not required on the 1040?

• The amount of your wages.

• Your social security number.

• Your occupation.

• Your signature.

• Your birthday.

What is required on the 1040 that is not required on the 540?

• The amount of your wages.

• Your social security number.

• Your occupation.

• Your signature.

• Your birthday.

All medical expenses are deductible on the 1040.

• True

• False