Question

Tien is a single, 20-year-old male with no children and shares an apartment with his best friend. His net income is approx. $15,000 per year. He owns no property or stocks and has earned only $200 interest on his savings account. Which income tax form would he most likely use to report his taxes to the IRS?

Answer 1

Tien would most likely use Form 1040EZ to report his taxes.

Step-by-step explanation:

A single, 20-year-old male with no children and a net income of approximately $15,000 per year, who owns no property or stocks and has earned only $200 interest on his savings account, would most likely use Form 1040EZ to report his taxes to the IRS.

Form 1040EZ is the simplest tax form to use and is designed for individuals with straightforward financial situations. It is used by taxpayers who have no dependents, do not itemize deductions, and have a taxable income of less than $100,000.

This form requires basic information such as name, Social Security number, filing status, and income details, and allows for claiming the standard deduction and the earned income credit, if applicable.