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

Did Not Receive A W2

Learn what to do if you did not receive a W2 with help from the tax experts at H&R Block.

What Is the Tax Extension Time Period?

How long is a tax extension? Learn more about the additional amount of time you receive to file taxes from the experts at H&R Block.

IRS Letter 6001 – Advanced Premium Tax Credit Recipients Non-Filer Letter

The IRS is requesting your return. Learn more about IRS Letter 6001 and how to address it with help from the tax experts at H&R Block.

What is a W-9 tax form?

If you need to complete a W-9 tax form, you may be asking what it’s used for and why it’s needed. We explain the purpose and use of an IRS W-9 form.