Form 1040
This is an essential element of an individual income tax return because it identifies the primary and secondary taxpayers along with any dependents.
What is Entity Section
taxpayers report their deductible Educator expenses on this line on Schedule 1 adjustments to income.
What is line 11
This is calculated by subtracting either the standard or itemized deductions from the AGI
What is Taxable Income
This cannot bring the tax below zero and cannot create an overpayment.
What is Nonrefundable Credit
Wages, Salaries, and Tips are reported on this line of Form 1040.
What is Line 1
This form MUST be attached to the tax return when the HSA deduction is taken.
Form 8889
Medical and Dental Expenses, Taxes You Paid, Interest You Paid, Gifts to Charity are all found on this Schedule so taxpayers can itemize their deductions
What is Schedule A
taxpayers claim or apply nonrefundable credits against the tax they owe in the order they appear on this schedule.
What is Schedule 3
This Schedule is used to report Additional Income and Adjustments to Income.
What is Schedule 1
Taxpayers who are liable for self-employment tax must submit this form with their Form 1040
What is Schedule SE
Taxpayers use this form to claim the Qualified Business Income Deduction (QBID)
Form 8995
This Act prohibits taxpayers from retroactively claiming CTC.
This Schedule is for Additional Taxes
What is Schedule 2
The receiving spouse or former spouse, and they must include it in their income if they entered into a divorce or separation agreement on or before December 31, 2018.
What is Alimony
This deduction reduces the amount of income on which taxpayers pay tax.
What is Standard deduction
Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent is filed on this form
What is Form 8332
This section provides the taxpayer’s total income, before adjustments, and is the first calculation in completing the tax return.
This retirement plan Allows the small-business employee to contribute from their earnings. The employer then makes matching or non-elective contributions to the employees’ accounts.
What is SIMPLE
Mortgage companies use this form to report mortgage interest received from a taxpayer and points paid by a taxpayer.
What is Form 1098
This Form is used to claim the Foreign Tax credit.
What is Form 1116