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Why am I being told I need a schedule 1 because of additional income and adjustments. I do not know what they are, my filing is the same as last year

 
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JulieCo
New Member

Why am I being told I need a schedule 1 because of additional income and adjustments. I do not know what they are, my filing is the same as last year

Schedule 1 is a new form this year.  The 1040 form was completely revised in 2018.  It is now a shorter form and much of the additional information that would be reported on it has been moved to six different schedules.   (The 1040A and 1040EZ forms no longer exist.)

Schedule 1, as is noted in the title of it, is where additional income and adjustments to income are reported in detail and then summarized on your 1040 form.  The additional income reported on Schedule 1 is for capital gains, unemployment compensation, prizes/awards, or gambling winnings.  The adjustments to income on Schedule 1 are for student loan interest, self-employment taxes, educator expenses, self-employed retirement or health insurance deductions, and IRA deductions.  Therefore, any of these situations on your tax return would cause a Schedule 1 to be required to be filed with your 1040 form.

Here is a link to the copy of the Schedule 1 form: IRS 2018 Schedule 1 Form


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1 Reply
JulieCo
New Member

Why am I being told I need a schedule 1 because of additional income and adjustments. I do not know what they are, my filing is the same as last year

Schedule 1 is a new form this year.  The 1040 form was completely revised in 2018.  It is now a shorter form and much of the additional information that would be reported on it has been moved to six different schedules.   (The 1040A and 1040EZ forms no longer exist.)

Schedule 1, as is noted in the title of it, is where additional income and adjustments to income are reported in detail and then summarized on your 1040 form.  The additional income reported on Schedule 1 is for capital gains, unemployment compensation, prizes/awards, or gambling winnings.  The adjustments to income on Schedule 1 are for student loan interest, self-employment taxes, educator expenses, self-employed retirement or health insurance deductions, and IRA deductions.  Therefore, any of these situations on your tax return would cause a Schedule 1 to be required to be filed with your 1040 form.

Here is a link to the copy of the Schedule 1 form: IRS 2018 Schedule 1 Form


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