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1040 Form

You’ll need the most common tax forms for preparing your income tax returns. Here are some of the most common federal tax forms for your considerations.

 

1040 Series for Individuals

This is a long form which covers all possible tax situations. What’s the beauty of this form is anyone can file this form. This Federal tax 1040 Form is best for you in case you are in doubt as to which form to file!

 

The followings are schedules for this form:

  • Schedule A & B: Itemized Deductions, Interest & Dividends and Instructions
  • Schedule C: Net Profit or Loss from Business and Instructions
  • Schedule C-EZ: Simplified version of Net Profit from Business
  • Schedule D: Capital Gains as well as Losses
  • Schedule E: Supplemental Income as well as Loss from rental real estate, trusts, partnerships, royalties, and corporations, and Instructions.
  • Schedule F: Net Profit or Loss from Farming and Instructions
  • Schedule H: Household Employment Taxes as well as IRS Instructions
  • Schedule J: Farm Income Averaging and Instructions
  • Schedule R: Credit for the Elderly or Disabled and Instructions
  • Schedule SE: Self Employed Tax as well as IRS Instructions

 

1040A Series for Individuals

This shorter income tax form can be used by the most taxpayers. Those whose income is below $100,000 can claim dependents as well as some adjustments to income, and use any filing status. Most people can qualify for using this form.

 

The following are schedules for this Form 1040A:

  • Schedule 1: Interest & Dividends
  • Schedule 2: Child & Dependent Care Expenses as well as Instructions for Schedule 2
  • Schedule 3: the Credit for the Elderly or Disabled as well as Instructions for Schedule 3

 

1040EZ Series for Individuals

Those taxpayers whose income is below $100,000 may qualify for using this simplified version of Federal tax 1040ez form. However, if you have doubts or you don’t really understand the appropriate form to use, then it would be better to check out IRS website.

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