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Irs Form 1040

The IRS form 1040 is also known as the "long form." It has been used since 1913 by full-time resident individual U.S. income taxpayers. The form consists of two full pages, not counting attachments, which are called schedules. The first page gathers necessary information about the filer(s)' dependents, income, and income adjustments. The second page calculates deductions, credits, and the total tax amount due. Funds that were already withheld from the taxpayer's wages or estimated payments, which were already made, are taken into consideration. Two other versions of the 1040 form exist for those taxpayers with less complicated tax situations.

Fast Facts

  • The form has been colored blue in years past. However, tax return software packages do not always use the same color-coding system.
  • The form 1040 has 11 total attachments, or schedules. They are organized by letters and are used to take various elements of a taxpayer's income, assets, or deductions into consideration.

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