While commonly used lines on the prior year form are still on the 2018 Form 1040, other lines are now Schedules 1 through 6 and organized by category. The six new numbered schedules are in addition to the existing schedules, such as Schedule A, Itemized Deductions, or Schedule C, Profit or Loss from Business.
Schedule 1 – Additional Taxes and Adjustments to Income
Taxpayers use this schedule to report income or adjustments to income that can’t be entered directly on Form 1040. This includes capital gains, unemployment pay, prize money, and gambling winnings. This also includes the student loan interest deduction, self-employment tax, or educator expenses.
Schedule 2 – Additional Tax
This scheduled is used by taxpayers in specific situations. Those who owe alternative minimum tax or need to make an excess advance premium tax credit repayment will file this schedule.
Schedule 3 – Nonrefundable Credits
Taxpayers use this schedule to report nonrefundable credits other than the child tax credit or the credit for other dependents. These include the foreign tax credit, education credits, and general business credit.
Schedule 4 – Other Taxes
Taxpayers use this schedule to report certain taxes. These include self-employment tax, household employment taxes, tax-favored accounts, and additional tax on IRAs and other retirement plans.
Schedule 5 – Other Payments and Refundable Credits
Taxpayers who claim specific refundable credits or have other payments withheld will file this schedule. These other payments include:
- Payment made when the taxpayer requests an extension.
- Payment of excess social security.
Schedule 6 – Foreign Address and Third-Party Designee
Taxpayers use this schedule to enter a foreign address. Anyone who wants to allow someone other than their paid preparer to discuss their tax return with the IRS will also file Schedule 6.
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