Can you use 1040ez with 1099

While it may take a little bit longer, TaxAct still makes it easy to complete. Filling out the long-form comes with a few advantages. Depending on your tax situation, the full Form allows you to claim all of your desired credits and deductions.

Luckily, no matter what form you need to fill out, TaxAct helps make filing your taxes as easy as possible. Take Control of Your Finances Sign up to get the latest tax tips, information on personal finance and other key resources sent straight to your email. What is Form ? Who qualifies for Form EZ? In order to file Form EZ, people must meet all of the following qualifications , as outlined by the IRS: Your filing status is single or married filing jointly.

You claim only the earned income credit. Who qualifies for Form A? You needn't attach copies of your s to your tax return. Just make sure you report all the income shown on your s; if you don't, you'll likely hear from the IRS.

Independent contractors typically work as sole proprietors. When you're a sole proprietor, you and your business are one and the same for tax purposes. You list the profit you earn or losses you incur on the first page of IRS Form If you earn a profit, your employment income includes the money and any other income you have. Interest income, or your spouse's income if you're married and file a joint tax return, also count toward the total taxable amount.

If you incur a loss, subtract it from your other income, and it will reduce your taxes for the year. On this form, you list all your business income and deductible expenses. You subtract your total expenses from your income to determine if you earned a profit or had a loss. Almost everything you buy for your business is deductible. They are deductible in full.

Frequent expenses for independent contractors include:. When you work as a independent contractor no income, the firms that hire you withhold from your compensation Social Security or Medicare taxes. Form EZ is the shortest and most basic tax form a taxpayer can use to report their income to the IRS. Tax payers that are new to the workforce and those with uncomplicated tax situations will often qualify to use the EZ.

The form isn't eligible to be used by everyone, so it is important that you know whether you qualify to use it before taking the time to fill it out. See the checklist of eligibility requirements below:.

If you qualify for any other tax deductions or credits, you might consider using a different form to take advantage of the full tax benefits you're allowed. When filling, make sure to have your W-2s, INT the form on which any interest you earned is reported and G shows unemployment payments handy. College grants and scholarships also count as wages, so students should also have this information available. Calculating your taxable income is relatively easy when filing a EZ.

Start a tax return on eFile. We will determine the correct forms to use based on your answers to a simple tax interview. Learn about the many benefits of filing your taxes with eFile. You may also want to see these instructions to prepare and eFile a tax return with income.

If you need to issue a , find out how to prepare and file a form. Get Your Tax Refund Date. What is DocuClix? Security About eFile. Where Is My Refund? How to Check Refund Status efile. Mailing Addresses Contact eFile.