question 3 of 10 according to the income section shown below from the 1040ez form, if $2950 were entered on…

question 3 of 10 according to the income section shown below from the 1040ez form, if $2950 were entered on which line would the taxpayer be ineligible to use the form? income 1 wages, salaries, and tips. this should be shown in box 1 of your form(s) w - 2. attach your form(s) w - 2. 2 taxable interest. if the total is over $1,500, you cannot use form 1040ez. 3 unemployment compensation in excess of $2,400 per recipient and alaska permanent fund dividends (see page 11). 4 add lines 1, 2, and 3. this is your adjusted gross income. 5 if someone can claim you (or your spouse if a joint return) as a dependent, check the applicable box(es) below and enter the amount from the worksheet on back. $18,750 if married filing jointly. see back for explanation. if no one can claim you (or your spouse if a joint return), enter $9,350 if single; 6 subtract line 5 from line 4. if line 5 is larger than line 4, enter 0. this is your taxable income. a. line 4 b. line 3 c. line 1 d. line 2

question 3 of 10 according to the income section shown below from the 1040ez form, if $2950 were entered on which line would the taxpayer be ineligible to use the form? income 1 wages, salaries, and tips. this should be shown in box 1 of your form(s) w - 2. attach your form(s) w - 2. 2 taxable interest. if the total is over $1,500, you cannot use form 1040ez. 3 unemployment compensation in excess of $2,400 per recipient and alaska permanent fund dividends (see page 11). 4 add lines 1, 2, and 3. this is your adjusted gross income. 5 if someone can claim you (or your spouse if a joint return) as a dependent, check the applicable box(es) below and enter the amount from the worksheet on back. $18,750 if married filing jointly. see back for explanation. if no one can claim you (or your spouse if a joint return), enter $9,350 if single; 6 subtract line 5 from line 4. if line 5 is larger than line 4, enter 0. this is your taxable income. a. line 4 b. line 3 c. line 1 d. line 2

Answer

Explanation:

Step1: Identify ineligibility criteria

The form states that if the total taxable interest is over $1,500, you cannot use Form 1040EZ.

Step2: Analyze given amount

The amount given is $2950. Since $2950 > $1500, if this amount is entered for taxable - interest, the taxpayer is ineligible.

Step3: Locate taxable - interest line

Taxable interest is listed on Line 2.

Answer:

D. Line 2