What is a Schedule 1 tax form?

Schedule 1 is the form you use to figure out your other income. You take the amount from Schedule 1 of your other income and put that amount on line 8 on your form 1040 when you are doing your taxes. Other income includes earnings other than wages or income from self-employment, retirement income, investments, foreign income, and canceled debts.

What is included in Schedule 1 Line 8?

Schedule 1, Line 8 includes the following. Most prizes and awards. .Jury duty pay. Alaska Permanent Fund dividends. Income from the rental of personal property if you engaged in the rental for profit but were not in the business of renting such property. Income from an activity not engaged in for profit.

How do I start a Schedule 1 tax return?

Before starting Part I, enter the taxpayer name or names as they appear on your federal income tax return, as well as your Social Security number. In the first part of Schedule 1, we will enter additional items of income that we cannot directly enter into IRS Form 1040. The amount from Line 10 goes to Line 8 on Form 1040, 1040-SR, or 1040-NR.