Completing Form 1040

By: Pete
Date posted: 01.10.2012 (5:00 am) | Write a Comment  (0 Comments)

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It was with great satisfaction that today I headed back to form 1040. After starting to fill Form 1040, I ended up filling form 2555 and form 1116 which grouped together made it easy for me to avoid owing money to the IRS.

In this section, I did actually fill out a few numbers:

Line 38 – The number from the first page of form 1040
Line 40 – As I had discussed, I am filing a married but filed separately form, so the standard deduction as per the guide is $5700
Line 41 – Easy:) Line 38 – Line 40
Line 43 – Same number as line 40 since I did not look for exemptions
Line 44 – I used the number in the 1040 guide, which gave me an amount of payable taxes for my adjusted gross income
Line 46 – same as 44
Line 47 – the total from form 1116
Line 54 – total credits, so line 47
Line 55 – $0 (as expected)

Line 60 – $0
Line 76 – $0

I then also signed and put my information!! In my next post, I will discuss a letter that I will include before sending out my taxes to the IRS.

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