New Look For 1040 Tax Form

Say bye bye to Form 1040EZ and 1040 A, and say hello to my little friend the slim and trim Form 1040. It is the size of a postcard.

6 Accompanying Schedules to 1040

A general guide to what Schedule(s) you will need to file along with the 1040:

Schedule 1

Have additional income, such as capital gains, unemployment compensation, prize or award money, gambling winnings. Have any deductions to claim, such as student loan interest deduction, self-employment tax, educator expenses.

Schedule 2

Owe AMT or need to make an excess advance premium tax credit repayment.

Schedule 3

Can claim a nonrefundable credit other than the child tax credit or the credit for other dependents, such as the foreign tax credit, education credits, general business credit.

Schedule 4

Owe other taxes, such as self-employment tax, household employment taxes, additional tax on IRAs or other qualified retirement plans and tax-favored accounts.

Schedule 5

Can claim a refundable credit other than the earned income credit, American opportunity credit, or additional child tax credit. Have other payments, such as an amount paid with a request for an extension to file or excess social security tax withheld.

Schedule 6

Have a foreign address or a third party designee other than your paid Preparer.

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