Quick Definition

The 1040 IRS Form is the standard federal income tax form used by U.S. residents to file their annual income tax returns.

Examples

• 1A single individual with no dependents uses Form 1040 to report their annual salary and claim the standard deduction.
• 2A married couple filing jointly uses Form 1040 to combine their incomes, deductions, and credits to calculate their total tax liability.
• 3A self-employed freelancer uses Form 1040 to report their business income and expenses, and to calculate self-employment tax.

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