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M
mzdeedees
January 23, 2020
Question

On a form it said I fill out a 1040 and it ask did I file a Schedule One with it what is the meaning of Schedule One

  • January 23, 2020
  • 1 reply
  • 0 views
So is this saying  that I’m paying into taxes

1 reply

K
klehnhardt
January 23, 2020

Under the 2019 tax forms Schedule 1 is where your Additional Income and Adjustments to Income is reported. 

 

To determine what different incomes and adjustments are on this form see Schedule 1.

 

The Additional Income from the schedule will be entered on Line 7a on Form 1040. This amount will increase your total income. The Adjustments to Income will be reported on Line 8a on Form 1040. This amount will decrease your total income.

 

These amounts will be combined with the other information you entered on your return to determine the amount of taxes you might owe, if any.

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