Get Schedule 1 (form 1040a) Department Of The Treasury--internal Revenue Service Interest And Ordinary

This guide provides clear instructions on filling out the Schedule 1 (Form 1040A), which focuses on reporting interest and ordinary dividends for individual taxpayers. By following these detailed steps, users can effectively complete the form online with confidence.

Follow the steps to accurately fill out Schedule 1 online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by entering your social security number in the designated field at the top of the form. This is essential for proper identification and processing of your tax return.
3. In Part I, list the name of the payer from whom you received interest. If the interest comes from a seller-financed mortgage where the property was used as a personal residence, be sure to record that interest first, including the buyer’s social security number and address.
4. Enter the amounts of interest received from the listed payers in the 'Amount' column next to their names. Make sure to tally these amounts.
5. If applicable, provide excludable interest on series EE and I U.S. savings bonds from Form 8815. Attach Form 8815 if you are including this information.
6. Add the amounts entered in the 'Amount' section to get a total. Subtract the excludable interest from this total and enter the result in the designated line, which will then be reported on Form 1040A, line 8a.
7. Moving to Part II for ordinary dividends, list the name of the payer next to the corresponding line. Ensure that these dividends do not include any capital gain distributions, as those should be reported elsewhere.
8. Fill in the amounts of ordinary dividends received for each payer in the 'Amount' column adjacent to their names.
9. Calculate the total ordinary dividends and enter that total in the appropriate line. This total is to be reported on Form 1040A, line 9.
10. Once you have completed all sections and checked for accuracy, you can save changes, download, print, or share the form as needed.

Start filling out your Schedule 1 online today for a smooth tax filing experience.