![]() The Part II portion of Schedule 2 includes information that was previously collected on Schedule 4 in tax year 2018. You'll also enter this total on Form 1040, Form 1040-SR, or Form 1040-NR, line 17. You'll enter the total of lines 1 and 2 on line 3.You'll complete and attach Form 8962 to determine the amount, if any, that should be entered. If you received an advance premium tax credit for health insurance, this line is where you'll note any repayment of excess advance premium tax credit that you received.You will also need to complete and include Form 6251. If you owe AMT, which applies mostly to high-income taxpayers, you'll record that amount here.This information is now included on lines 1 and 2 of Form 1040 Schedule 2. Prior to the Tax Cuts and Jobs Act, this "Tax" section was included on lines 45 and 46 of Form 1040. If you fill out Schedule 2, you'll include it with Form 1040, Form 1040-SR, or Form 1040-NR. Taxpayers who owe taxes in addition to standard income taxes such as self-employment taxes.Taxpayers who need to repay a portion of a tax credit for the health insurance marketplace.High-income taxpayers who owe alternative minimum tax (AMT).What is IRS Form Schedule 2?įorm 1040 Schedule 2 includes two parts: "Tax" and "Other Taxes." Taxpayers who need to complete this form include: After listening to feedback from tax professionals, the IRS condensed some of the schedules into a revised Form 1040 Schedule 2 for tax year 2019 and later. These schedules are additional documents that are attached to Form 1040 to provide information that's no longer included directly on Form 1040. To simplify things, the IRS created a simplified Form 1040 with several schedules. Prior to tax year 2018, there were three choices for 1040 Forms: 1040, 1040A and 1040EZ. Here's what to know about the current Form 1040 Schedule 2. ![]() While you may have filling out Form 1040 in mind, you may also need to report certain income on an additional form, or schedule. Your annual income tax return is no exception. For various reasons, tax forms are constantly changing.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |