What is the difference between filing 1040 and 1040a

Each form served the same purpose—to report your income and determine if you owe additional taxes or, better yet, get a refund—but the forms varied in complexity. Form EZ is, not surprisingly, the easiest to fill out.

While anyone can file Form , you must meet certain requirements to use the shorter EZ or A forms. You could take the standard deduction, but you wouldn't be able to itemize deductions, claim adjustments to income such as contributions to an IRA or claim any tax credits except for the Earned Income Tax Credit EIC , which is available to certain low-income taxpayers.

Also, you could not use EZ if you had any income from self-employment, alimony, dividends or capital gains. You could use Form EZ if all of the following apply:. It offered more room for tax breaks than Form EZ—including childcare, education, and retirement savings e.

Still, it was limited in terms of allowable deductions and credits compared to the standard If you couldn't use Form EZ—for example, because you had dependents to claim—you would have been able to use A if:. And starting with tax year , is the only form you can use unless you qualify for the seniors form, SR.

This is the most complex of the forms for individual tax filers—it was simplified, starting in —but it also gives you the most options for claiming deductions and credits. You should file Form if:. As a rule of thumb, the longer the tax form, the more tax breaks, and credits will be available.

Filing Form EZ or A instead of Form was often faster and with fewer recordkeeping requirements, but you may miss out on money-saving tax credits and deductions. As of , the EZ and A versions of form have been discontinued. Internal Revenue Service. Individual Income Tax Return. Accessed Oct. Income Tax. Health Insurance. Personal Finance. Finances With Children. Social Security. Your Privacy Rights. Photo credit: Telstar Logistics via photopin cc. 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.

Wanting to know the true differences between the Federal tax form? These forms are actually much more similar than many people think. The only real difference between the forms is in the amount of information reported. You need to use the larger, 24 ounce glass, to be able to empty the entire container. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

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While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Filling out a tax form is about as much fun as owing taxes to Uncle Sam. The complexity of the task intensifies as your tax life becomes more complicated. But choose carefully. There are three personal income tax forms — , A and EZ — with each designed to get the appropriate amount of your money to the IRS.

The EZ is the shortest and simplest form, Form A is a bit more complex and the long Form is the most detailed and potentially difficult. But even if your tax life is simple and straightforward, it might be worthwhile to investigate the other two forms.

Generally, the longer the form, the more opportunities for tax breaks. If you previously filed Form EZ, but bought health insurance through an Affordable Care Act state or federal exchange, known as the marketplace, you can no longer file this simplest form.

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.