Financial Literacy: Completing the 1040

 QUESTION OF THE DAY: If you make $40,000, how much will you pay in federal income taxes?
Below are some links you will need to complete your worksheet.

Edgar’s W-2

Melinda’s W-2

Angela’s W-2

Marcus’s W-2

Boris’s W-2

Determine if the individual is/is not a dependent by reading the “Who qualifies as a dependent?” and “Qualifying Child” sections of this article.

To find tax for 16, refer to the tax table starting on page 63 of the 1040 Instructions

LEARNING TARGET:

  • I can complete a 1040 form to file my taxes.

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