{"id":2844,"date":"2019-02-27T12:15:41","date_gmt":"2019-02-27T18:15:41","guid":{"rendered":"https:\/\/cookco.us\/news\/?p=2844"},"modified":"2019-02-27T06:17:55","modified_gmt":"2019-02-27T12:17:55","slug":"there-are-six-new-schedules-some-taxpayers-will-file-with-the-new-form-1040","status":"publish","type":"post","link":"https:\/\/cookco.us\/news\/there-are-six-new-schedules-some-taxpayers-will-file-with-the-new-form-1040\/","title":{"rendered":"There are six new schedules some taxpayers will file with the new Form 1040"},"content":{"rendered":"\n<p class=\"has-large-font-size wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Schedule 1 &#8211; Additional Taxes and Adjustments to Income<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Taxpayers use this schedule to report income or adjustments to income that can\u2019t 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.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Schedule 2 &#8211; Additional Tax<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Schedule 3 &#8211; Nonrefundable Credits<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Schedule 4 &#8211; Other Taxes<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Schedule 5 &#8211; Other Payments and Refundable Credits<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Taxpayers who claim specific refundable credits or have other payments withheld will file this schedule. These other payments include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Payment made when the taxpayer requests an extension.<\/li><li>Payment of excess social security.<\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Schedule 6 &#8211; Foreign Address and Third-Party Designee<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"820\" src=\"https:\/\/cookco.us\/news\/wp-content\/uploads\/2019\/02\/tax-headache.jpg\" alt=\"tax headache\" class=\"wp-image-2847\" srcset=\"https:\/\/cookco.us\/news\/wp-content\/uploads\/2019\/02\/tax-headache.jpg 900w, https:\/\/cookco.us\/news\/wp-content\/uploads\/2019\/02\/tax-headache-350x319.jpg 350w, https:\/\/cookco.us\/news\/wp-content\/uploads\/2019\/02\/tax-headache-680x620.jpg 680w, https:\/\/cookco.us\/news\/wp-content\/uploads\/2019\/02\/tax-headache-300x273.jpg 300w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2019-02-27T18:25:17Z","apple_news_api_id":"eaed14d8-8efd-4598-86b7-bf2c140e5b54","apple_news_api_modified_at":"2019-02-27T18:25:18Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/A6u0U2I79RZiGt78sFA5bVA","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/news-api.apple.com\/sections\/74d71b26-dfe2-3cf6-9b79-55911f8259f1"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/2844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/comments?post=2844"}],"version-history":[{"count":0,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/2844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/2846"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=2844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=2844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=2844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}