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What is schedule 1

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Expert Alumni

What is schedule 1

Schedule 1 is a new form this year that may be needed along with your Form 1040.  It is used to report "Additional Income" and "Adjustments to Income".  

You can click this IRS link to view Schedule 1

Additional Income includes:

  • Capital Gains
  • Unemployment Compensation
  • Prize or Award Money
  • Gambling Winning

Adjustments to Income includes:

  • Student Loan Interest Deduction
  • Self-Employment Tax
  • Educator Expenses

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