2023 IRS Form 1040 Walkthrough | Single No Dependents

Did you search how to fill out Form 1040 in 2024? In this video, we're providing a walkthrough of the 2023 IRS form 1040. This 2023 IRS Form 1040 walkthrough is designed for single taxpayers who don't have any dependents and has the following assumptions: W2 income, 1099-INT income, 1099-B income, standard deduction, no additional credits or deductions.

If you're looking for information about form 1040, be sure to watch this video! We'll provide a detailed walkthrough of the form 1040, including explanations of all the sections. Finally, we'll answer any questions you may have about the form 1040.

0:00 Filing Assumptions
0:52 W-2 Overview
2:13 Personal Information
3:16 Lines 1-15
7:55 Using the IRS Tax Table
8:42 Lines 16-33
12:50 Line 34-End
15:05 Additional Resources

#taxseason #tax101 #2024taxes
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DISCLOSURE: We are not financial advisers. The ideas presented in this video are for entertainment purposes only. Although the information is researched and vetted beforehand, it may not be up to date at the time of viewing. Please do your due diligence and research on the topic. You (and only you) are responsible for the financial decisions that you make.

[ChristianHada]

I'm only 3 minutes into this video and its already the most clearest and best video ive seen on this. Thank you for making it so straight forward and simple to understand!

[bryantakayama]

Very simple and easy instructional video. Thank you!

[StarLight-sxqf]

Thank you for sharing. The information you have provided has helped me out tremendously.❤❤❤

[bradsmith]

I'm no expert, but its seems for line 22 line 21=0 minus from line 18=4367, wouldn't it be 4367-0= 4367?

[calypsopauly]

You're nice, I appreciate this very much.

[juanacevedo]

Done deal. Thank you very much for your very helpful video!

[noir]

oh wow.
@ 15:18 I'm one of those simple people !

never done this before, quite a valuable resource. thanks !
(yes, they stole every penny. might as well be lighting it on fire with those boxes)

[tacomonsternick]

I hate how line 15 is worded. For someone not paying much attention to the exact wording or doesn't understand the difference, it can sound like you are subtracting, in your example, 13, 850 from 52, 059 which if subtracted the wrong way gets you a negative number. However, if someone only made 20, 000 in a year, and they were head of household, line 15 would be 800 if subtracted the wrong way.

[allnoyz]

Line 7, capitol gains. Here it's just treated as ordinary income. Schedule D just has you add short and long term gains.
I guess my question is, how are long term (specifically) capitol gains kept separate from ordinary income?

[neesas]

Great information, thank you! If I only earned 12, 000.00 last year my line 16 is negative. How do I reflect this? Employer still took out federal taxes, I believe I am owed those monies back, no? Thank you for any additional insight you can provide. It's about 65.00, this is why I want to prepare myself. Have a great day!

[colleenchanner]

Suppose I don’t get wages but cash payment what part should I fill out because I wouldn’t get a w2

[JanetteEstrada-Martinez]

If someone can claim a student as a dependent, can the student still file single with no dependents on some money they made for a summer job?

[JanetteEstrada-Martinez]

Can a student still file as single with no dependents on a summer job if parents can claim them as a dependent? Total earned is 5740.

[NickeyNicole]

If I have two W2 do I have to do two individual 1040? And when I mail the 1040 out do I have to attach my W2s ?

[agnimithra]

Is it possible to file the return without the software online?

[sofieelmasllari]

A penny pinchers Guide to personal finance Febbraio 6-2024

[Lakay]

Pls help me how to download my 2022 and 2023 irs 1040 pls