Which Tax Form to File
Tax Law Update: For 2018 returns, Form 1040 has been radically simplified and shortened, and will be used by most taxpayers. Form 1040A and Form 1040EZ have been eliminated.
For more complicated returns, several new schedules have been introduced:
- Schedule 1 is for additional income (like capital gains, unemployment benefits, gambling winnings) and adjustments to income (above-the-line deductions, like student loan interest, educator expenses, self-employment tax).
- Schedule 2 is for taxes, namely if you owe alternative minimum tax or need to repay excess advance premium tax credit.
- Schedule 3 is for nonrefundable credits, such as education credits or the Child and Dependent Care Credit.
- Schedule 4 is for other taxes, such as self-employment taxes and repayment of the first-time homebuyer credit.
- Schedule 5 is for other payments and refundable credits. Examples: estimated tax payments, net premium tax credit, federal fuel tax credit.
- Schedule 6 is for providing a foreign address or declaring a third-party designee who can discusss your return with the IRS.
These schedules are mostly the lines that were removed from Form 1040. They were separated out because they apply to fewer taxpayers.