This is the final video for our income tax unit. It will be a step-by-step process in completing the Minnesota individual tax reform form M1. This project is done for Sarah Walker's Minnesota income tax. To complete this process, I suggest having the W-2 form handy and a copy of your federal 1040 EZ, as we will be referencing a couple of places in that document. To start, we will fill out the top section of the form. Then, I will erase that information and scroll down to give you the entire view of the screen. We will input Sarah's name, social security number, and current home address. Since there is not a joint return, the next section will be left blank. Moving on, we will fill in Sarah's date of birth. As Sarah is single, we will check the representing single. She does not elect to do any political campaign contributions or deductions, so we will leave that section blank. Now, let's scroll down to the income section of the form. Here, we need to record information about Sarah's wages and salary. In letter A, it asks for wages, tips, and salary, which will come from the W-2. Sarah earned $10,020 in income. She had no contributions from an IRA or unemployment, so those sections will be left blank. The federal adjusted gross income can be found on line number four of the 1040 EZ, which was $10,820. The $800 difference in these two numbers accounts for the interest she received from her savings account, which we will put in letter D. Next, we move on to the federal income taxable income, which comes from line number six on the 1040 EZ. That number is $4,620. As for item number two, we have no information to record for state income tax or...
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Mo w-4 Form: What You Should Know
Form MO W-4 is completed, so you can have as much “take-home pay” as possible without an income tax liability due to the state of Missouri when you file your Federal income tax return.
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