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The IRS 1040 form is used by American taxpayers to report personal income and claim deductions for federal income tax purposes. There are three versions of the 1040: The long form, known simply as the 1040; the short form 1040A; and the 1040EZ.

The 1040 is the form that must be used if deductions are itemized, although it can also be used if taking the standard deduction.  The form is two pages long; the first page consists of personal information such as name and address, filing status (married, single, etc.) and information of dependents. It then moves to income information. Salary and wages are totaled and entered, as well as income from interest or alimony and business income or loss and capital gains activity.

Next, the IRS 1040 form asks for adjustments to gross income, such as educational or moving expenses. You will then list your deductions, and claim credit for taxes withheld from your salary during the year. After determining the tax due from the tax table, tax is subtracted from the payments made and any remaining balance can either be refunded or can be applied to your next year’s taxes.

There are eleven supporting schedules that have to be attached to the IRS 1040 form, depending on each individual’s situation. Schedule A is used for itemizing deductions, schedule B records interest or dividend income, and schedule C covers income and expenses for those who are self-employed. Capital gains activity is recorded on schedule D while schedule E is used for rental or royalty income. The schedule EIC is completed to claim the earned income credit, schedule F reports farming income and expenses, schedule H is used if the taxpayer employs household help, and schedule J must be attached if farm income is averaged over more than one year. Schedule R calculates credit for the elderly or disabled, and schedule SE is used to compute the self-employment tax due for those who are self-employed.

The variations of the IRS 1040 form are used when claiming the standard deduction rather than itemizing. The most abbreviated form is the 1040EZ. Filers who are single or filing a joint return with their spouses, under age 65, have no dependents, and an adjusted income of $100,000 or less may be able to use this form. The only tax credit that can be claimed is the earned income credit, and there won’t be any advance EIC payments made during the year.

Those not qualifying for the 1040EZ may be able to use the 1040A instead. Like the IRS 1040 form, the 1040A allows income from salaries, interests, capital gains, and pensions. And like the form 1040EZ, it is limited to those earning less than $100,000. No itemized deductions are allowed; the standard deduction must be claimed.

The IRS 1040 form is available online from many sources, including the official IRS site.  Downloadable as a .PDF file, the form can be printed blank and filled in by hand, or information can be entered prior to printing.