Let’s explore the New IRS Form 1040 along with 6 new schedules & Schedule A. Huge Changes!
Let’s explore the New IRS Form 1040 along with 6 new schedules & Schedule A. Huge Changes!

Hi, welcome to my channel! In this presentation, I want to go over important changes to Form 1040, along with 6 new schedules & Schedule A. Other schedules like Schedules B, C, D, E, and F haven’t really changed. Also, if you’re self-employed, I want to show you where to report your income, expenses, self-employment tax and quarterly estimated tax payments. Schedule 1: Additional income and adjustments to income Schedule 2: Excess advance premium tax credit repayments and alternative minimum tax Schedule 3: Non-refundable tax credits Schedule 4: "Other" taxes, including the self-employment tax Schedule 5: Tax payments and refundable tax credits Schedule 6: Third party designee other than paid preparer and foreign addresses