Exit Ticket 9WK-1.5

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Exit Ticket 9WK-1.5

Email *

First & Last Name *

Class Period *

When completing a 1040, you need... *

1 point

Your W-4 form

The 1040 you used in the previous tax filing year

The refund amount or the amount owed for the previous tax filing year

A W-2 form for every job you held in the past year

If you are a dependent, which of the following is TRUE about filing your taxes? *

1 point

You fill out your own 1040 form and receive a refund or are responsible for paying any taxes you owe.

You don’t need to fill out your own form; the person who is claiming you can include your tax filing information on their 1040.

You claim a lower standard deduction on the 1040.

Any refund you get is sent to the person who is claiming you as a dependent.

Why might it be DISADVANTAGEOUS to receive a large refund instead of a smaller one? *

1 point

Receiving a large refund means you were UNDERWITHHOLDING from each paycheck, and that’s money you could have used throughout the year for other things.

You are less likely to get a large refund in the following tax year.

Receiving a large refund means you were OVERWITHHOLDING from each paycheck, and that’s money you could have used throughout the year for other things.

The IRS may put you in a higher tax bracket for the following tax year.

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