Schedule 1—Additional Income and Adjustments to Income is a schedule form of 1040. Taxpayers who will report additional income and adjust income in 2021 must fill out Schedule 1 and attach it to their federal income tax returns.
Before you file Schedule 1, know that you can make adjustments to your income whether you itemize or take the standard deduction. The adjustments made to gross income will reduce your taxable income—just like the deductions.
However, what separates the deductions from adjustments how you claim them. While you will need to fill out Schedule A to itemize deductions, Schedule 1 is solely for reporting additional income and making adjustments to income.
Upon subtracting the adjustments from your gross income, you will get to your adjusted gross income. Your adjusted gross income will be used in multiple tax provisions, make sure to calculate it properly so that you don’t miss out on certain tax deductions such as the IRA deduction.
Fill Out 2021 Schedule 1 Online
For the 2021 tax season, Schedule 1 looks the same as in 2020. Fill out a free copy of Schedule 1 for your 2020 taxes and print out a paper copy right away. If you don’t have a printer available, you can download it as a PDF file and print out later.
Since you’re going to attach Schedule 1 to 1040—U.S. Individual Income Tax Return, file that as well while you’re at it.
Take note that this method of filing tax forms and schedules is not a replacement for e-filing. Once you file a 1040 and other tax forms, you must get them in the paper so that you can mail them to the Internal Revenue Service. Fill out Schedule 1 below and print out or download it as a PDF using the buttons on the top right.