The Redesigned Form 1040

The Redesigned Form 1040

January 10, 2019

The IRS has redesigned the 2018 Form 1040, the U.S. Individual Income Tax Return. The new form will replace not only the current Form 1040, but also Forms 1040A and 1040EZ. The Treasury Department originally called the new form a “postcard†size, but it’s really half the size of a standard piece of paper, front and back. The new version is 23 lines, while last year’s was 79 lines.

Some line items from the old form, such as for personal exemptions for each member of a household, were removed as a result of the federal tax law passed in December 2017. And other line items have been moved to six new schedules.

While some taxpayers will file Form 1040 (W2 wage only), we are anticipating in most cases they will need most if not all of the new additional schedules. For example, if you claim certain deductions, have self-employment income, fund retirement contributions or take advantage of tax credits, you will need to complete one or more of the six new Form 1040 Schedules.

Here’s a look at both pages of Form 1040:

Click each image to get a full-size view of that page of the form.

Below is a general guide to what Schedule(s) you might need to file, based on your circumstances. You can click on the link for each Schedule for more information.

Have additional income, such as capital gains, unemployment compensation, prize or award money, gambling winnings. Have any deductions to claim, such as student loan interest deduction, self-employment tax, educator expenses.Schedule 1
Additional Income and Adjustments to Income
Owe AMT or need to make an excess advance premium tax credit repayment.Schedule 2
Can claim a nonrefundable credit other than the child tax credit or the credit for other dependents, such as the foreign tax credit, education credits, general business credit.Schedule 3
Nonrefundable Credits
Owe other taxes, such as self-employment tax, household employment taxes, additional tax on IRAs or other qualified retirement plans and tax-favored accounts.Schedule 4
Other Taxes
Can claim a refundable credit other than the earned income credit, American opportunity credit, or additional child tax credit. Have other payments, such as an amount paid with a request for an extension to file or excess social security tax withheld.Schedule 5
Other Payments and Refundable Credits
Have a foreign address or a third party designee other than your paid preparer.Schedule 6
Foreign Address and Third Party Designee

If you have questions about filing your tax return and would like to consult with a tax professional, please contact Christina Roderick, (602) 730-3607, in our Tax Department.

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