What is IRS Form 1040 Schedule 1?īefore the IRS and the Treasury redesigned Form 1040 in 2018, it included several lines for reporting various income types, with a line as a catchall for "Other Income." It also included several lines for adjustments to income, also known as "above-the-line" deductions. Still, it's a good idea to familiarize yourself with the forms you need so you know what to look for when you review your tax return before filing. Of course, if you use TurboTax to file your tax return, you just need to answer a few questions and we'll complete the right forms based on the information you provide. One of those forms is Schedule 1 ( Form 1040), which lists additional types of income that aren't listed on Form 1040, as well as some additional adjustments to income. ![]() It's also used to claim some tax deductions.įor information on the third coronavirus relief package, please visit our “ American Rescue Plan: What Does it Mean for You and a Third Stimulus Check” blog post.įorm 1040 may be the main form people think of at tax time, but most taxpayers need to attach one or more additional forms, or schedules, to their federal income tax return. Form 1040 Schedule 1 is used to report certain types of income that aren't listed on the main form.
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