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IRS 1040 Form

The IRS 1040 form is the standard individual income tax return used by U.S. taxpayers to report their annual income and calculate their tax obligations. This form allows individuals to detail various sources of income, claim deductions, and determine their tax refund or amount owed. Understanding the 1040 form is essential for compliance with federal tax laws and for optimizing personal financial situations.

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Outline

Common PDF Templates

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IRS 1040 Sample

Form

1040

Department of the Treasury—Internal Revenue Service

(99)

U.S. Individual Income Tax Return

2021

OMB No. 1545-0074

IRS Use Only—Do not write or staple in this space.

Filing Status

Check only one box.

	Single		Married filing jointly		Married filing separately (MFS)		Head of household (HOH)		Qualifying widow(er) (QW)

If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QW box, enter the child’s name if the qualifying person is a child but not your dependent ▶

Your first name and middle initial

Last name

Your social security number

If joint return, spouse’s first name and middle initial

Last name

Spouse’s social security number

Home address (number and street). If you have a P.O. box, see instructions.

Apt. no.

Presidential Election Campaign

Check here if you, or your

spouse if filing jointly, want $3

City, town, or post office. If you have a foreign address, also complete spaces below.

State

ZIP code

to go to this fund. Checking a

box below will not change

Foreign country name

Foreign province/state/county

Foreign postal code

your tax or refund.

You

Spouse

At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?

Yes

Standard

Someone can claim:

You as a dependent

Your spouse as a dependent

Deduction

Spouse itemizes on a separate return or you were a dual-status alien

Age/Blindness You:

Were born before January 2, 1957

Are blind

Spouse:

Was born before January 2, 1957

Is blind

Dependents (see instructions):

(2) Social security

(3) Relationship

(4) ✔ if qualifies for (see instructions):

If more

(1) First name

Last name

number

to you

Child tax credit

Credit for other dependents

than four

dependents,

see instructions

and check

here ▶

Attach

Wages, salaries, tips, etc. Attach Form(s) W-2

Tax-exempt interest . . .

b Taxable interest

. . . .

Sch. B if

Qualified dividends . . .

b Ordinary dividends . . . .

required.

IRA distributions . . . .

b Taxable amount

Pensions and annuities . .

b Taxable amount

Standard

Social security benefits . .

b Taxable amount

Deduction for—

Capital gain or (loss). Attach Schedule D if required. If not required, check here .

. . . ▶

• Single or

Other income from Schedule 1, line 10

Married filing

separately,

Add lines 1, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income

▶

$12,550

• Married filing

Adjustments to income from Schedule 1, line 26

jointly or

Subtract line 10 from line 9. This is your adjusted gross income

. . . . . . . . .

▶

Qualifying

widow(er),

Standard deduction or itemized deductions (from Schedule A)

. .

12a

$25,100

Charitable contributions if you take the standard deduction (see instructions)

12b

• Head of

household,

Add lines 12a and 12b

12c

$18,800

• If you checked

Qualified business income deduction from Form 8995 or Form 8995-A

any box under

Add lines 12c and 13

. . . . . . . . . . . . . . . . . . . . . .

Standard

Deduction,

Taxable income. Subtract line 14 from line 11. If zero or less, enter -0-

see instructions.

For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 11320B

Form 1040 (2021)


Form 1040 (2021)	Page 2


	16	Tax (see instructions). Check if any from Form(s): 1		8814	2	4972			3			. .		16
	17	Amount from Schedule 2, line 3						. . . . . . . .						17
	18	Add lines 16 and 17						. . . . . . . .						18
	19	Nonrefundable child tax credit or credit for other dependents from Schedule 8812												19
	20	Amount from Schedule 3, line 8						. . . . . . . .						20
	21	Add lines 19 and 20						. . . . . . . .						21
	22	Subtract line 21 from line 18. If zero or less, enter -0-						. . . . . . . .						22
	23	Other taxes, including self-employment tax, from Schedule 2, line 21 .						. . . . . . . .						23
	24	Add lines 22 and 23. This is your total tax						. . . . .			. .		▶	24
	25	Federal income tax withheld from:
	a	Form(s) W-2							25a
	b	Form(s) 1099							25b
	c	Other forms (see instructions)							25c
	d	Add lines 25a through 25c						. . . . . . . .						25d
If you have a	26	2021 estimated tax payments and amount applied from 2020 return . .						. . . . . . . .						26
If you have a	27a	Earned income credit (EIC)							27a
qualifying child,	27a	Earned income credit (EIC)							27a
attach Sch. EIC.		Check here if you were born after January 1, 1998, and before

		January 2, 2004, and you satisfy all the other requirements for
		taxpayers who are at least age 18, to claim the EIC. See instructions ▶
	b	Nontaxable combat pay election . . . .		27b
	c	Prior year (2019) earned income . . . .		27c
	28	Refundable child tax credit or additional child tax credit from Schedule 8812							28
	29	American opportunity credit from Form 8863, line 8							29
	30	Recovery rebate credit. See instructions							30
	31	Amount from Schedule 3, line 15							31
	32	Add lines 27a and 28 through 31. These are your total other payments and refundable credits											▶	32
	33	Add lines 25d, 26, and 32. These are your total payments . . . .						. . . . .			. .		▶	33
Refund	34	If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid										. .		34
Refund	35a	Amount of line 34 you want refunded to you. If Form 8888 is attached, check here . .									.	▶		35a
	35a										.	▶		35a
Direct deposit?	▶ b	Routing number			▶ c Type:				Checking			Savings
See instructions.	▶ d	Account number
	36	Amount of line 34 you want applied to your 2022 estimated tax .				.	▶		36
Amount	37	Amount you owe. Subtract line 33 from line 24. For details on how to pay, see instructions										.	▶	37
You Owe	38	Estimated tax penalty (see instructions) . . .		. . . . .		.	▶		38
Third Party	Do	you want to allow another person to discuss this return with the IRS? See
Designee	instructions		. . . . . . . . . . . . . . . . . . .					.	▶	Yes. Complete below.					No
	Designee’s			Phone						Personal identification
	name ▶			no. ▶						number (PIN) ▶

Sign

Here

Joint return? See instructions. Keep a copy for your records.

Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Your signature	Date	Your occupation	If the IRS sent you an Identity
			Protection PIN, enter it here
			(see inst.) ▶
Spouse’s signature. If a joint return, both must sign.	Date	Spouse’s occupation	If the IRS sent your spouse an
▲			Identity Protection PIN, enter it here
			(see inst.) ▶
Phone no.	Email address

Paid

Preparer’s name

Preparer’s signature

Date

PTIN

Check if:

Self-employed

Preparer

Firm’s name ▶

Phone no.

Use Only

Firm’s address ▶

Firm’s EIN

▶

Go to www.irs.gov/Form1040 for instructions and the latest information.

Form 1040 (2021)

⇓ PDF File

Instructions on Utilizing IRS 1040

Once you have gathered all necessary documents, filling out the IRS 1040 form is your next step. This form is crucial for reporting your income and calculating your tax liability. Follow these steps carefully to ensure accuracy and completeness.

Start by entering your personal information at the top of the form. This includes your name, address, and Social Security number.
Indicate your filing status. You can choose from options such as single, married filing jointly, married filing separately, head of household, or qualifying widow(er).
List your dependents, if applicable. Provide their names, Social Security numbers, and relationship to you.
Report your income. Gather all W-2 forms and 1099 forms to accurately fill in your total income. Include wages, interest, dividends, and any other sources of income.
Calculate your adjusted gross income (AGI). This involves subtracting any adjustments to income, such as retirement contributions or student loan interest, from your total income.
Determine your taxable income. Subtract the standard deduction or itemized deductions from your AGI to find this amount.
Use the tax tables provided in the instructions to find your tax liability based on your taxable income.
Account for any tax credits you may qualify for. These can reduce your overall tax liability.
Calculate any additional taxes owed, such as self-employment tax or alternative minimum tax, if applicable.
Determine your total payments, including any withholding from your paycheck and estimated tax payments made throughout the year.
Subtract your total payments from your total tax liability to find out if you owe money or if you will receive a refund.
Sign and date the form. If you are filing jointly, your spouse must also sign.
Make a copy of your completed form for your records before submitting it to the IRS.

After filling out the form, ensure it is sent to the correct address based on your state. If you owe taxes, consider including payment options or e-filing for faster processing. Keep an eye on deadlines to avoid penalties.

Misconceptions

Many people have misconceptions about the IRS 1040 form, which is used for individual income tax returns in the United States. Understanding these misconceptions can help taxpayers navigate the tax filing process more effectively.

Misconception 1: The 1040 form is only for those with high incomes.

This is not true. The 1040 form is designed for all individual taxpayers, regardless of income level. Even those with lower incomes may need to file this form, especially if they qualify for certain credits or deductions.

Misconception 2: You can only file the 1040 form if you have a complicated tax situation.

While some taxpayers with complex financial situations may need to use additional schedules, the 1040 form is also suitable for those with straightforward tax situations. Many individuals can file it without any additional forms.

Misconception 3: Filing a 1040 form guarantees a refund.

This is a common misunderstanding. Filing a 1040 does not automatically result in a tax refund. The amount of refund or tax owed depends on various factors, including income, deductions, and credits claimed.

Misconception 4: You cannot amend a 1040 form once it is filed.

This is incorrect. Taxpayers can amend their 1040 form if they discover errors or need to make changes after filing. The IRS provides a specific form, the 1040-X, for this purpose.

Documents used along the form

The IRS 1040 form is a crucial document for individuals filing their annual income tax returns in the United States. However, several other forms and documents are often used alongside the 1040 to provide additional information or to claim various deductions and credits. Below is a list of these commonly associated forms, each serving a specific purpose.

W-2 Form: This form reports an employee's annual wages and the amount of taxes withheld from their paycheck. Employers must provide this form to their employees by the end of January each year.
1099 Form: Used to report income received from sources other than employment, such as freelance work or interest income. There are several variations, including the 1099-MISC and 1099-INT.
Schedule A: This form allows taxpayers to itemize their deductions instead of taking the standard deduction. It includes expenses such as mortgage interest, charitable contributions, and medical expenses.
Schedule C: Self-employed individuals use this form to report income and expenses from their business. It helps determine the net profit or loss from self-employment activities.
Schedule D: This form is used to report capital gains and losses from the sale of investments. Taxpayers must detail each transaction to calculate their overall tax liability.
Form 8862: Taxpayers who have previously lost their eligibility for the Earned Income Tax Credit (EITC) must use this form to claim it again. It helps verify eligibility for the credit.
Prenuptial Agreement Form: To ensure clarity in asset distribution, consider using the comprehensive prenuptial agreement template resources tailored for Ohio couples.
Form 8889: This form is used by individuals with Health Savings Accounts (HSAs) to report contributions, distributions, and any qualified medical expenses incurred during the tax year.
Form 8880: Taxpayers can use this form to claim the Retirement Savings Contributions Credit, which is available to those who contribute to retirement accounts and meet certain income limits.
Form 1040-X: If a taxpayer needs to amend their original tax return, this form is used to correct errors or make changes to previously filed returns.

Understanding these forms can help individuals navigate the tax filing process more effectively. Each document plays a role in ensuring accurate reporting of income and claiming of deductions, ultimately impacting the overall tax liability.