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1040 Form Questions

In an income tax system there are forms in which the information of the individual filing the income tax return should be entered. There are several different types of forms, and the 1040 form is one of these forms. But what exactly is a 1040 form? Are there more than one type of 1040 form, and what kind of information is entered on a 1040 form?

What is a 1040 form?

A 1040 form is a form used in the United States in an individual’s income tax return. The 1040 form has three variations they are the 1040 which is the long form, the 1040A which is the short form, and the 1040EZ. The 1040 form, not counting in any attachments, is a two page form. The first page is filled with collecting information about the individual, their income, any dependents, and adjustments to income. The second page of the 1040 form is for calculation of deductions and credits, as well as tax that is due based on the income given. The 1040 form also has attachments in the form of schedules that the individual may have to submit depending on the circumstances of the individual. Read below to find 1040 form questions answered by the Experts.

Is a 1040 form used to file estate income tax?

In most situations, a 1040 form is not used to file the income tax on an estate. If a 1040 form is used then the return will be sent back and need to amended using a 1041 form. It should be noted that if a 1040 form is used and the amended return is not sent in a timely manner penalties may be assessed.

If alimony is deductible what line is it on 1040 form?

In most cases, alimony is deductible as long as the individual has the ex-spouses social security number. It should also be noted that the IRS has expectations that the amount that the individual is deducting will be reported as income on the ex-spouse’s tax return. On the 1040 form it can be found at line 31.

On what line are taxable withdrawals from a 401(k) reported on a 1040 form?

If an individual has made a withdrawal a 1099-R would be issued. The amount of the withdrawal would be on the 1099-R form and that amount would be inserted onto the 1040 form on line 16a. If the amount was an after taxes contribution, then portion of the withdrawal that is taxable would be inserted onto the 1040 form on line 16b. However if the contributions to the 401(k) were pre tax in nature then the whole amount would be taxable and would need to be inserted on the 1040 form on lines 16a and 16b. The amount entered on both lines in that case would be the same.

The 1040 form is an income tax form that is used by the United States income tax system. The form is two pages long and has entered into it the individual’s tax information such as income earned, the number of dependents and the calculations of tax deductions. Any questions regarding the 1040 form can be directed to the Experts.

Ask a Tax Professional

Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: General
Satisfied Customers: 572
Experience:  10 years experience
16356563
Type Your Tax Question Here...
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4 Tax Professionals are Online Now

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Tax Professionals are online & ready to help you now

Wallstreet Esq.
Tax Attorney
Satisfied Customers: 570
10 years experience
Wendy Reed
Enrolled Agent
Satisfied Customers: 3052
15+ years tax preparation and tax advice.
Mark D
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MBA, EA, Specializing in Business and Individual Tax Returns and Issues

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