One Part-Time Job

First Steps to Take

For instance, if a full-time worker earns $50,000 a year and a part-time worker earns $15,000, the part-time worker will likely be taxed at a lower rate. It’s essential to understand that the IRS does not differentiate between part-time and full-time workers for tax purposes; it’s all about the income earned.

Step 1: Enter Personal Info — No form needed

You type in your name, SSN, address, filing status (like Single or Married).
No outside forms needed here.

Step 2: Report Your Income — (W-2 and maybe 1099 Forms)

W-2:

TaxSlayer will ask: "Do you have a W-2?"
You either:
- Upload it
- Or type in each box manually (Box 1 = wages, Box 2 = federal income tax withheld, etc.).

If you have a 1099-NEC, 1099-MISC, 1099-INT, 1099-DIV, or 1099-B:

TaxSlayer will ask: "Any other income?"
You select the right 1099 type and enter details from the form (how much you made, if taxes were withheld, etc.).

Purpose: W-2 and 1099s tell the IRS how much money you made and if taxes were already taken out.

Step 3: Health Insurance — (1095-A if you used marketplace insurance)

1095-A:

TaxSlayer will ask: "Did you have health insurance from the Marketplace?"
If YES, it will ask you to enter details from the 1095-A form:
- How much your monthly premiums were
- Whether you got any advance credits

Purpose: To make sure you received the right tax credit and didn’t get too much (or too little).

If you got insurance through work, this step is super short (just click YES/NO).

Step 4: Deductions and Credits — (Schedule 1, 2, and 3 if needed)

TaxSlayer asks a series of yes/no questions:
- Did you pay student loan interest?
- Did you contribute to an IRA?
- Did you pay for college tuition?

If you answer YES to any, TaxSlayer automatically creates:

Schedule 1 (for deductions like student loans)
Schedule 3 (for credits like education credit)

Purpose: To reduce your taxable income or taxes owed.

You don't fill these schedules manually — TaxSlayer does it based on your answers.

Step 5: Calculate Taxes and Refund — (Form 1040 is generated)

Form 1040:

After you’re done answering all the questions, TaxSlayer shows you a draft of your completed Form 1040.
It summarizes:
- Total income
- Adjusted income (after deductions)
- Taxes owed
- Refund or payment due

Purpose: This is the final tax return that gets filed with the IRS.

Step 6: File and Pay

You review your return.
You pay for your TaxSlayer package (if not free).
You e-file the 1040 (and any schedules created).