How does a 1040 work?

You can think of the 1040 like a math worksheet: You plug in various numbers from a schedule (Form 1040 will tell you which one to use) and add the schedules' totals to your Form 1040. Form 1040 packs in a lot of information, and every year, there are changes to it, many of them subtle.

What is a 1040 Form?

Form 1040, formally known as the “U.S. Individual Income Tax Return,” is the form people use to report income to the IRS, claim tax deductions and credits, and calculate their tax refund or tax bill for the year. The IRS releases a revised version of the form for each tax filing year.

What do I need to fill out a 1040 Form?

You’ll need your Social Security number, wage statements and past tax return to fill out Form 1040. What is a 1040 form? Form 1040, formally known as the “U.S. Individual Income Tax Return,” is the form people use to report income to the IRS, claim tax deductions and credits, and calculate their tax refund or tax bill for the year.