Need to Know More About Schedules for Form 1040

In this article, let us find the various schedules for Form 1040 and their uses to the tax payers. Check out the information for each schedule and apply accordingly.

Form	Schedule	Form Description	Form Information
Form 1040	Schedule A	Itemized Deductions	Includes recent updates, related forms and instructions on how to file. Schedule A  is used by the tax filers to report their itemized deductions.
Form 1040 A or Form 1040	Schedule B	Interest and Ordinary Dividends	The tax filers uses it to report the interest and ordinary dividend income.
Form 1040	Schedule C	Profit or Loss From Business	Used to report the business income or loss or a profession as a sole proprietor.
Form 1040	Schedule C EZ	Net Profit From Business	Used instead of Schedule C by qualifying small businesses and statutory employees with expenses less than $ 5000.
Form 1040	Schedule D	Capital Gains and Losses	Used to report sales, exchanges or certain capital gain, certain involuntary conversions of capital assets distributions, and nonbusiness bad debts.
Form 1040	Schedule E	Supplemental Income and Loss,	The tax filers use this to report income from royalties, rental real estate, partnerships, trusts, estates S corporations, and residual interests in real estate mortgage investment conduits (REMICs).
Form 1040 A or Form 1040	Schedule EIC	Earned Income Credit	The tax filers who claim the earned income credit to give the IRS information about the qualifying child uses this schedule.
Form 1040	Schedule F	Profit or Loss From Farming	Used to report farm income and expenses.
Form 1040	Schedule H	Household employment taxes	Household employers uses this schedule to report household employment taxes
Form 1040	Schedule J	Income Averaging for Farmers and Fishermen	Use this schedule to elect to figure the income tax by averaging, over the previous 3 years (base years), all or part of your taxable income from your trade or business of farming or fishing.
Form 1040 A or Form 1040	Schedule R	Credit for the Elderly or the Disabled	To figure the credit for the elderly or the disabled.
Form 1040	Schedule SE	Self-Employment Tax	The self-employed person uses this tofigure the self-employment tax due on net earnings.
Form 1040	Schedule 8812		The taxpayers uses to compute and report both the Child Tax Credit and the Additional Child Tax Credit

The above table gives you the detailed information about the Schedules of Form 1040. Before applying, check out the uses of each schedule in order to avoid confusion.