How to Prepare an Individual Tax Return

• Step 1

  Enter your information in the top section of the 1040.

• Step 2

  Choose your filing status and mark an X in the appropriate box.

• Step 3

  Enter your exemptions, check the boxes for yourself and your spouse, and list your dependents information. Fill out the boxes on the right to find number of exemptions.

• Step 4

  Enter your income on lines 7 through 21. Most of these numbers will be found on W-2's and 1099's. Total the amounts on line 22.

• Step 5

  Enter any adjustments to your income on lines 23 through 35. Total these on line 36. Subtract the adjustments on line 36 from the total income on line 22 and enter the difference on lines 37 and 38.

• Step 6

  Enter your deductions on line 40a. If you paid real estate taxes and do not itemize, add this amount to your standard deduction and check the box on 40b. Subtract the deduction from the adjusted gross income on line 38 and enter the difference on line 41.

• Step 7

  Multiply the number of exemptions from line 6d by $3,650 and enter the total on line 42. Subtract this amount from the amount on line 41 and enter the difference on line 43. This is your taxable income.

• Step 8

  Open the 1040 Instructions to page 77 and find your taxable income and tax on the tax table. Enter the amount on line 44. If you have alternative minimum tax, enter this on 45. Enter the total of lines 44 and 45 on line 46.

• Step 9

  Figure any credits you may qualify for on lines 47 through 53. Enter the total of these credits on line 54, subtract from the amount on line 46 and enter the difference on line 55. Add any other taxes you have and enter the total on line 60, total tax.

• Step 10

  Enter the federal income tax withheld, found on forms W-2 and 1099, on line 61. Figure refundable credits on lines 63 through 70. Add lines 61 through 70 and enter the total on line 71.

• Step 11

  If your total payments are greater than your total tax, subtract line 60 from line 71 and enter the difference on line 72 and 73. Enter your bank information if you want your refund direct deposited.

• Step 12

  If you owe, subtract your total payments from your total tax and enter the difference on line 75. Figure any penalty on line 76. Include a check for the amount owed with your tax return.

• Step 13

  Sign and date your return. Mail it to the address found on page 174 of the 1040 Instructions.

• 3
• W-2's 1099's Social security numbers IRS Form 1040 IRS 1040 instructions Calculator Writing utensil Scratch pad
• W-2's
• 1099's
• Social security numbers
• IRS Form 1040
• IRS 1040 instructions
• Calculator
• Writing utensil
• Scratch pad

• USUnited States

References & Resources

• IRS 1040 Instructions
• IRS Form 1040