2024 Schedule 1 Form and Instructions

What Is Form 1040 Schedule 1?

Form 1040 Schedule 1, Additional Income and Adjustments to Income, asks that you report any income or adjustments to income that can't be entered directly onto Form 1040. The 2024 Schedule 1 Instructions are not published as a separate booklet. Instead, you will need to read the Schedule 1 line item instructions found inside the general Form 1040 instructions booklet.

On page one of IRS Form 1040, line 8, the taxpayer is asked to add the amount from Schedule 1, line 10, Additional Income. Then on line 10, the taxpayer is asked to subtract the amount from Schedule 1, line 26, Adjustments to Income.

Form 1040 Schedule 1, Additional Income and Adjustments to Income, was created as part of the Form 1040 redesign implemented for tax year 2018. You do not file IRS Schedule 1 with the older 1040 series forms such as Form 1040A or Form 1040EZ. Schedule 1 can only be attached to Form 1040, Form 1040-SR, and Form 1040-NR.

Who Must File Form 1040 Schedule 1?

• Offsets of state and local income taxes.
• Alimony paid or received.
• Business income or loss from Schedule C.
• Capital gain or loss from Schedule D.
• Rental real estate, royalties, partnerships, etc from Schedule E.
• Farm income or loss from Schedule F.
• Deductible part of self-employment tax from Schedule SE.
• Health savings account deduction.
• IRA, SEP, SIMPLE income adjustments.
• Student loan interest deduction.
• Tuition and fees deduction.
• Unemployment compensation.

Click any of the IRS Schedule 1 Form and Instructions links below to download, save, view, and print the file for the corresponding year. These free PDF files are unaltered and are sourced directly from the publisher.

Printable Schedule 1 Forms

Printable Schedule 1 Instructions

When to File Schedule 1

Schedule 1 is filed with your Form 1040, Form 1040-SR, or Form 1040-NR when you have additional income or adjustments to income that are not included directly on the main form. This can include income from capital gains, unemployment compensation, gambling winnings, and more. Schedule 1 is typically filed by April 15th of each year, but if you file for an extension, you may have until October 15th to submit. It's important to file Schedule 1 if applicable, as failure to include any required additional income or adjustments may lead to penalties.

For specific instructions, refer to the PDF instructions for Schedule 1 provided by the IRS. The Schedule 1 instructions will guide you through the exact line numbers and sections for reporting your additional income and adjustments to income.

Where to Mail Schedule 1

If you're filing electronically, form Schedule 1 will be submitted as part of your e-filed federal tax return. For paper filing, attach Schedule 1 to your Form 1040, Form 1040-SR, or Form 1040-NR and mail it to the IRS address that corresponds to your state, as listed in the IRS instructions for Form 1040. Notice that Attachment Sequence No. 01 appears in the upper right of the Schedule 1 form. Make sure all forms and schedules are properly attached and mailed to avoid any delays in processing your tax return. Always double-check the mailing address and use certified mail if possible to track the delivery.

Common IRS Schedule 1 Mistakes to Avoid

If you make a mistake on Schedule 1, you may need to file Form 1040X (Amended US Individual Income Tax Return) to correct it. Be sure to update all impacted forms and schedules when filing your amendment, including your Form 1040 and any other relevant schedules.

Common Mistakes to Avoid:

• Failing to report all sources of additional income, such as alimony received, unemployment benefits, or gambling winnings.
• Misreporting adjustments to income, including IRA deductions, deductible part of self-employment tax, or student loan interest deductions.
• Forgetting to include capital gains or losses.
• Incorrectly claiming deductions that you are not eligible for, such as educator expenses or health savings account (HSA) contributions.
• Not attaching form Schedule 1 when it is required for your tax situation.

To avoid these mistakes, review each section of the Schedule 1 instructions carefully and ensure that all income and adjustments are accurately reported on your return.

Frequently Asked Questions (FAQ)

Here are answers to some of the most common questions about Schedule 1. Whether you're reporting additional income, adjustments to income, or both, these FAQ can help clarify how to fill out and submit Schedule 1 correctly.

What types of income are reported on Schedule 1?

Schedule 1 is used to report income that is not included directly on Form 1040, such as capital gains, unemployment compensation, alimony, gambling winnings, and taxable refunds of state and local income taxes.

What adjustments to income are reported on Schedule 1?

Adjustments to income on Schedule 1 include deductions such as student loan interest, IRA contributions, health savings account (HSA) contributions, and the educator expenses deduction. These adjustments lower your taxable income and are important for reducing your overall tax liability.

Do I need to file Schedule 1 if I have no additional income or adjustments?

No, if you have no additional income or adjustments to report, you do not need to file Schedule 1 with your Form 1040. However, it's important to review the list of income and adjustments in the instructions to ensure you don't overlook anything that may require you to file the form.

Can I file Schedule 1 electronically?

Yes, Schedule 1 can be filed electronically as part of your overall tax return. If you're using tax software, the program will prompt you to complete Schedule 1 if your tax situation requires it. For paper filers, you must attach Schedule 1 to your Form 1040 and mail it to the correct IRS address.

How do I know if I need to file Schedule 1?

If you have any additional income or adjustments to income that are not listed directly on Form 1040, you will need to file Schedule 1. Common examples include alimony received, business income, farm income, unemployment compensation, capital gains or losses, gambling, cancelled debt, and certain deductions like IRA contributions or student loan interest. Take a look at the form and instructions for Schedule 1 for a full list of additional income and adjustments.

Last updated: November 15, 2024

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