Form 1040 (2007) Page 2

Summary: This is an example of Form 1040 (2007), page 2, with items included as described in the text. Additionally, these line items are completed:

  • Under Tax and Credits:
  • 38. Amount from line 37 (adjusted gross income) field contains 35,296
  • 40. Itemized deductions (from Schedule A) or your standard deduction (see left margin) field contains 12,586
  • 41. Subtract line 40 from line 38 field contains 22,710
  • 42. If line 38 is $117,300 or less multiply $3,400 by the total number of exemptions claimed on line 6d. field contains 10,200
  • 43. Taxable income. Subtract line 42 from line 41. If line 42 is more than line 41, enter 0 field contains 12,510
  • 44. Tax (see page 33). field contains 1,253
  • 46. Add lines 44 and 45 field contains 1,253
  • 52. Child tax credit (see page 39). field contains 1,000
  • 56. Add lines 47 through 55. These are your total credits field contains 1,000
  • 57. Subtract line 56 from line 46. If line 56 is more than line 46, enter 0 field contains 253
  • Under Other Taxes:
  • 58. Self-employment tax. Attach Schedule SE field contains 6,223
  • 63. Add lines 57 through 62. This is your total tax field contains 6,476
  • Under Payments:
  • 64. Federal income tax withheld from Forms W-2 and 1099 field contains 272
  • 65. 2007 estimated tax payments and amount applied from 2006 return field contains 8,400
  • 72. Add lines 64, 65, 66a, and 67 through 71. These are your total payments field contains 8,672
  • Under Refund:
  • 73. If line 72 is more than line 63, subtract line 63 from line 72. This is the amount you overpaid field contains 2,196
  • 75. Amount of line 73 you want applied to your 2008 estimated tax field contains 2,196
  • Under Third Party Designee:
  • Do you want to allow another person to discuss this return with the IRS? No checkbox is checked.
  • Under Sign Here:
  • Your signature field contains John E. Michaels
  • Date field contains 3/1/2008
  • Your occupation field contains Minister
  • Spouse's signature. If a joint return, both must sign. field contains Susan R. Michaels
  • Date field contains 3/1/2008
  • Spouse's occupation field contains Homemaker

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