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Frequently Asked Questions

What does 1040 stand for?

What Is Form 1040: U.S. Individual Tax Return? Form 1040 is the standard Internal Revenue Service (IRS) form that individual taxpayers use to file their annual income tax returns .

Which 1040 Form should I use?

You can generally use the 1040EZ if: Your interest income is $1,500 or less. The 1040A may be best for you if: You claim adjustments to income for IRA contributions and student loan interest. However, reasons you must use the 1040 include: You are reporting income from sale of a property.

Is a 1040 the same as a W 2?

While a 1040 and a W-2 transcript clearly contain different data, another key difference between a W-2 and 1040 transcript is how long you have to request them. A tax return transcript is only available for the current tax year and three prior tax years. W-2 transcripts cover a much longer period and are available for up to 10 prior years.


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