Form 1040 Schedule 1 (2024)

What is the Fillable Form 1040 Schedule 1?

Fillable Form 1040 Schedule 1 is a form that was released by the IRS. It is an addition to the IRS Form 1040. With its help, you are able to specify additional income and adjustments to income.

What I need the Form 1040 Schedule 1 for?

You will have to use the Fillable Form 1040 Schedule 1 in order to:

• Fill out the taxes;
• Mention the additional income;
• Mention the adjustments to income.

How to fill out the IRS Form1040 Schedule 1?

You have to start filling out the form by writing the names that were shown on Form 1040, 1040-SR, or 1040-NR. Your social security number is also required. After that, start filling out the first part of the Fillable Form 1040 Schedule 1 - Additional Income.

There you will see available options, for example, taxable refunds, business income (or loss), rental real estate, farm income (or loss), unemployment compensation, etc. If there is any other income, you should also specify it in the required section. You should also combine all the above-mentioned lines and enter the taxes in Form 1040 Schedule 1, Form 1040, 1040-SR, tax form 1040 NR,  1040NR EZ.

The second part of the form requires you to write all the adjustments to income, such as educator expenses, certain business expenses of reservists, health saving account deduction, moving expenses (for members of the Armed Forces), deductible part of self-employment tax, self-employed health insurance deduction, penalty on early withdrawal of savings, IRA deduction, student loan interest deduction.

Organizations that work with the 1040 Form Schedule 1

• Internal Revenue Service.