How do you go about figuring your income tax?

Answer by  Kurt (4579)

The tax forms pretty much lead you through the process. #1 Add up your income from salaries, interest, gains on investment sales, etc to get adjusted gross income #2 claim your number of exemptions # 3 adjust for any deductions # 4 Calculate your tax A tax software is best to calculate information for you.

Answer by  Kurt (4579)

You will need your W2 forms, tax statements if you had other income ( investments or dividends ). Probably best if you use a tax software to walk you through.

Answer by  technogeek (6640)

Each line on a tax return clearly explains what you should insert in that line. If the question does not pertain to you, then you leave it blank.

Answer by  barkley (951)

Income taxes are based on your specific situation, different for everyone. You may want to get a copy of IRS publication 17 to answer general questions, just go to irs. gov.