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Investors & landlords
There is no short form or long form. All tax returns are filed on the same Form 1040. The short form was eliminated in 2018.
You can file a tax return no matter how much or how little you have in deductions. If your total itemized deductions are less than your standard deduction you will use the standard deduction. If your total itemized deductions are more than your standard deduction you will use the itemized deductions. The itemized deductions will be shown on Schedule A included with your Form 1040 tax return.
If you are single, under 65, not blind, and not a dependent, your standard deduction for 2022 is $12,950.
‎February 28, 2023
10:16 AM