What is Form 1040a

 

The 1040A is a simpler version of Form 1040. You can use it if you meet the 1040A requirements, which are less complex than those for a 1040. If you’re filing a paper return and meet the requirements, using the simpler 1040A reduces the chance for both:

  • Costly errors
  • A delay in processing your return

Your taxable income must be less than $100,000 to use the 1040A. Also, your income can only come from these sources:

  • Wages, salaries, and tips
  • Interest and dividends
  • Capital gain distributions
  • Taxable scholarship and fellowship grants
  • Pensions, annuities, and IRAs
  • Unemployment compensation
  • Taxable Social Security and railroad retirement benefits
  • Alaska Permanent Fund dividends

You can claim these adjustments to income on a 1040A:

  • IRA deduction
  • Student-loan interest deduction

You can only claim these credits:

  • Child tax credit
  • Additional child tax credit
  • Education credits
  • Earned Income Credit (EIC)
  • Credit for child- and dependent-care expenses
  • Credit for the elderly or the disabled
  • Retirement savings contributions credit

You can also use a 1040A if any of these are true:

  • You receive dependent-care benefits.
  • You owe tax from the recapture of an education credit or the Alternative Minimum Tax (AMT).
  • You received the advance premium tax credit.

Restrictions for using a 1040A include:

  • You can’t itemize deductions. So, you can’t deduct charitable donations or mortgage interest paid.
  • You can’t claim an AMT adjustment on stock you got from exercising an incentive stock option.

Related Topics

Related Resources

Planning to Deduct Charitable Contributions? Tax Reform May Change That

When it comes to philanthropic giving and larger charitable contributions, tax reform may change how you deduct gifts. Learn more from H&R Block's experts.

Tax Reform and Expats – A Brief Look

Expats are subject to the latest tax bill changes much like any other taxpayer. Learn more about the effects of tax reform on Expats with H&R Block.

What Is Form 8960 and Who Needs to File It?

Form 8960 is used to calculate your Net Investment Income tax. Rely on the experts at H&R Block to understand who needs to file Form 8960 and what it covers.

Tax Penalty

The most commonly charged IRS penalties are failure to file, failure to pay, or estimated tax penalties. Learn more about penalties from the experts at H&R Block.