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I am preparing my 2011 tax return and have taxable income of $12,000 as reported on line 43 of form 1040. I'm not sure what to include on lines 44 and 45. Can you provide some assistance?


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The BIDaWIZ Team's Answer:

You need to read the form 1040 instructions for 2011 as the IRS provides guidance on a line by line item basis. Specifically, you need to refer to pages 35-38 in the 2011 1040 instructions. Line 44 relates to the computation of your taxes taking into account your taxable income, capital gains, dividends.Please note that line 45 deals with alternative minimum tax which you wouldn't be subject to given your income level.

If you decide you would like to have a professional prepare your return for you, you can certainly work with a tax professional online here.

The BIDaWIZ Team

 

 

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