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<\/figure><\/div>\n\n\nLet\u2019s knock out the first and most important question: \u201cWhat is a Form 1040?\u201d <\/em>Formally known as the \u201cU.S. Individual Income Tax Return,\u201d this is the Internal Revenue Service (IRS) tax form you use to report all types of income and expenses, claim tax deductions and credits, and calculate your tax bill or refund for the tax year.<\/p>\n\n\n\n The IRS usually releases an updated version of the 1040 tax return form each filing year. There are generally a few changes each year, such as adjustments for inflation, clarification on instructions, and implementation of relevant changes to the tax code.<\/em><\/p>\n\n\n\n There are four variations of the IRS form 1040 for filing an individual\u2019s annual income tax return:<\/p>\n\n\n\n In 2018, two 1040 tax forms\u2014the 1040A and 1040EZ\u2014were eliminated with tax reform. The IRS consolidated the forms into one, allowing taxpayers to instead use schedules to supplement their filing. So, beginning with 2018, Form 1040 became the primary form with supporting schedules.<\/p>\n\n\n\n Millions of U.S. taxpayers file a 1040 tax form each year. It\u2019s the most used tax form to report income, claim certain credits, and identify how much tax you owe (or will get refunded.)<\/p>\n\n\n\n First, you\u2019ll want to check to see if the amount of income you\u2019ve earned this year will trigger a filing requirement<\/a>. \u00a0If your gross income is at or above certain annual thresholds for your filing status, you must file a tax return. But, having income below the thresholds (mentioned in the article above) isn\u2019t the only thing to check. You must also file a tax return if any of these situations apply to you:<\/p>\n\n\n\n Take a deeper dive into these situations and review our Do you need to file taxes?<\/a> article.<\/p>\n\n\n\n Even if you are not required to file a tax return you may wish to do so in these situations:<\/p>\n\n\n\n <\/a>IRS 1040 tax form is the primary U.S. Individual Income Tax Return form. You can find it on the Internal Revenue Service (IRS) official website.<\/p>\n\n\n\n Here’s how you can access it if you\u2019re paper filing:<\/p>\n\n\n\n If you\u2019re filing online or using tax software, the programs will auto-populate the appropriate Form 1040 based on a series of questions asked. And if you\u2019re using a tax professional, they will supply the appropriate forms and schedules.<\/p>\n\n\n\n The 1040 form instructions<\/a> provide several pieces of information you that may be helpful in completing your taxes. This includes filing requirements like those listed above, line-by-line instructions for Form 1040, tax bracket information, refund information, and instructions for each of the 1040 schedules. (More on the schedules below).<\/p>\n\n\n\n Thanks to helpful programs, such as H&R Block Online<\/a> (or by working with one of our tax pros), filling out Form 1040 isn\u2019t really needed. But if you want to know how it works, we\u2019ve outlined the process for you below.<\/p>\n\n\n\n While the Form 1040 instructions outlines many of the things, you\u2019ll need to complete your taxes, you\u2019ll quickly see that there may be several things that may\u2014or may not\u2014apply to your situation.<\/p>\n\n\n\n Here\u2019s some of the information you\u2019ll need to complete your taxes.<\/p>\n\n\n\n Personal information<\/strong>, such as:<\/strong><\/p>\n\n\n\n Then there are other details, you\u2019ll want to check your official documents. That said, you\u2019ll need to gather:<\/p>\n\n\n\n Deduction-related forms and documentation, such as information about your:<\/strong><\/p>\n\n\n\n For a full list, check out our \u201cWhat do I need to file taxes<\/a>\u201d checklist.<\/p>\n\n\n\n The 1040 form includes the base form and three schedules needed to report additional items. In addition to these schedules, there are several supporting schedules used to provide details about certain income and deductions.<\/p>\n\n\n\n You can think of schedules as extra forms the IRS uses to get a complete and accurate depiction of your financial life related to your tax filing. If you e-file your return (which most people do), your online program or tax pro will generally determine the Form 1040 Schedules you\u2019ll need.<\/p>\n\n\n\n In many instances, you don\u2019t need anything other than the base form. However, if your tax return is more complicated (like if you claim certain tax deductions, credits, or owe additional taxes), you\u2019ll likely use one or more schedules and forms.<\/p>\n\n\n\n Here\u2019s a summary of each 1040 tax schedule.<\/p>\n\n\n\n This schedule should be used to report additional income you may have such as business, farm, or rental income. You also use this schedule to report any adjustments to income such as student loan interest, the deductible portion of self-employment tax<\/a>, or educator expenses.<\/p>\n\n\n\n Schedule 2 is used to report any additional taxes you may owe such as the Alternative Minimum Tax<\/a>, self-employment tax, tax on early distributions from IRAs, and additional Social Security and Medicare tax.<\/p>\n\n\n\n Here\u2019s where many of the personal credits go, including education credits<\/a>, the Child and Dependent Care Credit<\/a>, Saver\u2019s Credit,<\/a> energy credits, the Premium Tax Credit, and the Foreign Tax Credit. Note that the earned income credit and child tax credit are claimed on the Form 1040.<\/p>\n\n\n\n Schedule A<\/a> allows you to itemize deductions instead of taking the standard deduction<\/a>. Think medical expenses, state and local taxes, mortgage interest, and charitable contributions \u2013 these are all acceptable deductions!<\/p>\n\n\n\n Schedule B reports interest and ordinary dividends. So, if you have a bank account or investments, this is where you spill the beans on the interest and dividends you\u2019ve earned.<\/p>\n\n\n\n For the entrepreneurs out there, Schedule C<\/a> reports business income and expenses for sole proprietors (including single member LLCs treated as sole proprietorships). Partnerships and corporations (including LLCs treated as partnerships or corporations) don\u2019t report business income on the Form 1040, instead the business files using the partnership and corporate returns (Forms 1065 and 1120) and owners report income on other forms.<\/p>\n\n\n\n If you\u2019ve played the stock market or sold some investments, Schedule D is your ticket to report capital gains<\/a> and losses.<\/p>\n\n\n\n If you earn supplemental income from rental properties, royalties, partnerships, S corporations, estates, trusts, or residual interests in REMICs, then that income lands on Schedule E.<\/p>\n\n\n\n This schedule is used to report information about your qualifying children you included for claiming the Earned Income Credit<\/p>\n\n\n\n Schedule F reports farming income and expenses for farmers and those in agriculture. The Schedule lets the IRS know if your agricultural endeavors are blooming or facing a drought. Learn more about using Schedule F for farming income tax<\/a>.<\/p>\n\n\n\n If you have certain household employees like a nanny, cleaning crew, or personal assistant, use Schedule H<\/a> to report household employee taxes.<\/p>\n\n\n\n Schedule J is used to elect to figure out your income tax by averaging, over the previous three years, all or part of your taxable income from your trade or business of farming or fishing.<\/p>\n\n\n\n This election might lower taxable income from farming or fishing if your income is high and your taxable income for one or more of the three prior years was lower.<\/p>\n\n\n\n Use Schedule R to calculate the Tax Credit for the Elderly or Disabled.<\/p>\n\n\n\n Gig workers, sole proprietors, and partners this one\u2019s for you. Schedule SE calculates your self-employment tax, which represents your contributions to Social Security and Medicare.<\/p>\n\n\n\n Use Schedule 8812 to calculate the Additional Child Tax Credit.<\/p>\n\n\n\n The IRS made no significant changes to Form 1040 and most of its supporting schedules this year. Schedule 3 has been revised to add lines for Home Energy and Clean Vehicle Credits.<\/p>\n\n\n\n Your chosen filing method will determine where to file Form 1040.<\/p>\n\n\n\n In the grand scheme of things, the IRS 1040 tax form is key to filing your tax return. Ready to file your Form 1040? Let H&R Block help! Whether you choose to file with a tax pro<\/a> or file with H&R Block Online<\/a>, you can rest assured that we\u2019ll get you the biggest refund possible.<\/p>\n","protected":false},"excerpt":{"rendered":" Form 1040 is one of the most commonly filled-out tax forms in the U.S. tax system. It\u2019s the standard IRS income tax form taxpayers use to file annual income tax returns. Because so many people fill it out every year, it\u2019s important to understand IRS Form 1040 and what goes into it. While the 1040 […]<\/p>\n","protected":false},"author":1,"featured_media":63603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,55],"tags":[],"class_list":["post-20683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-irs","category-forms"],"acf":[],"yoast_head":"<\/a>What are the types of Tax Form 1040?<\/h2>\n\n\n\n
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Why \u201cshort forms\u201d 1040A and 1040EZ are no longer available<\/h3>\n\n\n\n
File with H&R Block to get your max refund<\/h3>
Who should file Form 1040?<\/h2>\n\n\n\n
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How to get 1040 form information<\/h3>\n\n\n\n
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IRS Form 1040 instructions<\/h2>\n\n\n\n
How to fill out the 1040 tax form<\/h3>\n\n\n\n
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What info do you need to complete Form 1040?<\/h3>\n\n\n\n
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Forms that show your income, such as:<\/h4>\n\n\n\n
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File with H&R Block to get your max refund<\/h3>
<\/font>What are the various Form 1040 schedules?<\/h2>\n\n\n\n
<\/a><\/a>Supporting schedules:<\/h3>\n\n\n\n
Schedule 1: Additional Income and Adjustments to Income<\/h3>\n\n\n\n
<\/a>Schedule 2: Additional Taxes<\/h3>\n\n\n\n
<\/a>Schedule 3: Additional Credits and Payments<\/h3>\n\n\n\n
<\/a>Additional schedules you may need:<\/h3>\n\n\n\n
<\/a>Schedule A: Itemized Deductions<\/h3>\n\n\n\n
<\/a>Schedule B: Interest and Ordinary Dividends<\/h3>\n\n\n\n
<\/a>Schedule C: Profit or Loss from Business<\/h3>\n\n\n\n
<\/a>Schedule D: Capital Gains and Losses<\/h3>\n\n\n\n
<\/a>Schedule E: Supplemental Income and Loss<\/h3>\n\n\n\n
<\/a>Schedule EIC: Earned Income Credit<\/h3>\n\n\n\n
Schedule F: Profit or Loss from Farming<\/h3>\n\n\n\n
<\/a>Schedule H: Household Employment Taxes<\/h3>\n\n\n\n
<\/a>Schedule J: Income Averaging for Farmers and Fishermen<\/h3>\n\n\n\n
<\/a>Schedule R: Credit for the Elderly or Disabled<\/h3>\n\n\n\n
<\/a>Schedule SE: Self-Employment Tax<\/h3>\n\n\n\n
<\/a><\/a>Schedule 8812: Child Tax Credit<\/h3>\n\n\n\n
<\/a><\/a>What changes have been made to 1040 forms this tax year?<\/h3>\n\n\n\n
Where to file Form 1040<\/h3>\n\n\n\n
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Get help filing your 1040 tax form<\/h2>\n\n\n\n