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Question
moussa has a full - time job, earns interest from his savings account, and has freelance income. which forms will he need to file his tax return?
1040, w - 2, 1099, and schedule b
1040, w - 2, 1099, and schedule a
1040, w - 2, and schedule b
1040, w - 2, and schedule a
Brief Explanations
- 1040: The main individual income tax return form, required for reporting all types of income (salary, freelance, interest).
- W - 2: Reports wages from a full - time job (salary income).
- 1099: For freelance/self - employment income (non - employee compensation) and can also report interest income (though 1099 - INT is specific for interest, the general 1099 is relevant here for freelance).
- Schedule B: Used to report interest income (from savings account) and other investment income.
Now let's analyze the options:
- Option 1: Missing 1099 (for freelance and interest reporting) and has Schedule B which is needed for interest. But it lacks 1099, so incomplete.
- Option 2: 1040 (main return), W - 2 (salary), 1099 (freelance/interest), and Schedule B (interest income reporting) – this covers all income sources (salary, freelance, interest).
- Option 3: Schedule A is for itemized deductions (not relevant here as we need to report income, not deductions), so incorrect.
- Option 4: Missing 1099 (freelance/interest) and Schedule B is for interest, but it has Schedule A (deductions) which is not needed, so incorrect.
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1040, W - 2, 1099, and Schedule B (the second option in the list of choices)