What type of tax return did i file

One of the most significant differences between the two forms is that you can itemize deductions on Form but not on Form A. Remember, with TurboTax , we'll ask you simple questions about your life and help you fill out all the right tax forms. Whether you have a simple or complex tax situation, we've got you covered.

Feel confident doing your own taxes. Just answer simple questions about your life, and TurboTax Free Edition will take care of the rest. For Simple Tax Returns Only. What are Income Tax Forms? Claiming the Foreign Tax Credit with Form What is the IRS Form ? Estimate your tax refund and where you stand Get started. See if you qualify for a third stimulus check and how much you can expect Get started. Easily calculate your tax rate to make smart financial decisions Get started.

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The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Skip To Main Content. When individuals purchase a policy through an exchange, they have an option to receive advance payment of the premium tax credit.

This tax credit helps cover some of the insurance costs. The advance credit amount, however, must be accounted for when the policy recipient files his or her tax return. If the advance premium amount was too small, the taxpayer will get the extra. However, if too large of an advance premium credit was paid, the taxpayer must make up the difference, either by paying any tax due or by having the amount taken from an expected refund. Such calculations are made on Form , which only can be filed with Form A or If you received advance payments of the premium tax credit, you must file one of these longer forms instead of the EZ.

Even if you did not get the premium credit in advance but got health care through an exchange and want to claim it when you file, you must complete A or Take the case of tax filer Joe P. A perfect EZ filer, right? Joe has a student loan. Joe also would get the chance to reduce his actual bill if he files the longer A. The better tax news for Joe is that a credit allows you a dollar-for-dollar reduction of what you owe the IRS.

But the only tax credit shown on the EZ is the earned income tax credit, available only to low-income taxpayers. And there are even more tax-saving opportunities found on the long Form They might not apply to Joe, but they could cut your tax bill — if you take the time to look over each of the forms.

Here are the basic guidelines for the three individual tax returns. And ever since the IRS doubled the earning limit on filers who use it, the EZ has been available to even more taxpayers. The ease of the one-page EZ is appealing, but it limits the number of ways to save on your tax bill. You also need to look at those other two individual tax returns to take advantage of additional income adjustments and tax credits.

Compare rates at Bankrate. The A form is the next step up the tax-form ladder. As with Form EZ, the earning limit on filers wanting to use the A has increased, so more taxpayers should be able to use it.

Individuals choosing the A can file using any of the five available filing status options: single, married filing jointly or separately, qualifying widow or widower, or head of household. People who file the A also can claim, in addition to the EITC, several tax credits — the child, additional child, education, dependent care, elderly or disabled, and retirement savings credits — that are not available with the EZ.

Form A also gives you the chance to claim several adjustments to income. These items are sometimes referred to as above-the-line deductions, because you claim them just before the bottom line of the form, the one where you enter your adjusted gross income.

By reducing your total gross income, your taxable income will be lower and your tax bill should be smaller, too. Adjustments allowed on Form A include educator expenses, certain IRA contributions, student loan interest, and some college tuition and fees. Finally, choose Form if your earnings are larger, you itemize deductions or you have more complex investments and other income to report.

Like deductions, these vary widely among jurisdictions. However, there are often credits attributed to the care of dependent children and seniors, pensions, education, and many more. After reporting income, deductions, and credits, the end of the return identifies the amount the taxpayer owes in taxes or the amount of tax overpayment.

Overpaid taxes may be refunded or rolled into the next tax year. Taxpayers may remit payment as a single sum or schedule tax payments on a periodic basis.

Similarly, most self-employed individuals may make advance payments every quarter to reduce their tax burden. You can file a tax return by filling it out yourself, using a t ax software program , or by hiring a tax preparer or accountant who will gather the required information from you and file it on your behalf.

The IRS recommends that filers keep tax returns for at least three years. However, other factors may require more prolonged retention. Some situations may require indefinite retention of filed returns. If a tax return contains errors, an amended return should be submitted to correct the discrepancy.

Internal Revenue Service. Individual Income Tax Return. Accessed April 21, Return of Partnership Income. Finances With Children. Income Tax. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile.

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