For example, if a taxpayer itemizes their deductions on their individual tax return, they are required to submit Schedule A as part of their tax return.
Examples of Tax Schedules
While some taxpayers have relatively simple tax returns that can be completed by just using the two-page Form 1040, taxpayers with more complicated tax situations will need to complete tax schedules as part of their tax return. The IRS considers these tax schedules to be an essential part of the tax return. Tax schedules typically have lines for taxpayers to input amounts indicated on the schedule. For example, line one of Schedule A is where a taxpayer inputs the medical and dental expenses they paid during the year. Other lines on tax schedules are used to input amounts from another part of the tax return. For example, line two of Schedule A is where a taxpayer inputs the amount of their adjusted gross income from line 11 of Form 1040 or 1040-SR. Some lines on tax schedules are calculation lines where the schedule itself instructs the taxpayer to make some calculation and input the result on the line. For example, line three of Schedule A instructs the taxpayer to multiply line two of Schedule A by 7.5% and input the result on line three. This is because, with itemized deductions, taxpayers may only deduct the amount of their total medical and dental expenses paid during the year that exceed 7.5% of their adjusted gross income.
Do I Need To Use Tax Schedules?
Tax schedules are used by both taxpayers and taxing authorities such as the IRS. In the case of taxpayers, they use tax schedules to report additional information and amounts to support other parts of the tax return. Taxpayers may also use a tax schedule that was part of another tax return—such as a Schedule K-1 from an S corporation the taxpayer owns—to complete their own tax return. Taxing authorities such as the IRS use tax schedules to review taxpayers’ tax returns.
Types of Tax Schedules
There are many tax schedules included in the various kinds of tax returns filed with the IRS and other tax authorities.
Individual Tax Schedules
Individual tax schedules are attached to Form 1040 or 1040-SR. The table below shows common individual tax schedules and the purpose of each. Tax returns, along with their supporting schedules, may be filed via paper mail at the address for your location indicated in the instructions for the tax return you are filing. They may also be electronically filed with a tax software program or through a tax professional. While it’s typical for taxpayers to submit all required tax schedules along with their tax return, some tax schedules—such as Schedules C, D, and E for Form 1040 or 1040-SR—may be submitted to the IRS separately from the Form 1040 or 1040-SR.
