Form 1040 (2011) Paper Filing Checklist
Purpose:
The 2011 Form 1040 reports total income from wages, investments, business, farm, and other sources; calculates adjusted gross income; applies standard or itemized deductions and exemptions; determines tax liability; and claims refundable and nonrefundable credits. The 2011 tax year introduced a $3,700 exemption amount (adjusted for inflation from $3,650 in 2010) and continued the American Opportunity Tax Credit, with expanded eligibility and refundability provisions.
Step-by-Step Filing Checklist
Step 1: Verify Filing Status and Personal Information
Confirm your filing status on lines 1–5 matches your marital and household status as of December 31, 2011. Enter your name, address, and Social Security number accurately. If married filing jointly, include your spouse’s information. Check the appropriate filing status box: Single, Married Filing Jointly, Married Filing Separately, Head of Household, or Qualifying Widow(er).
Step 2: Calculate and Enter Exemptions
On line 6d, count the total number of exemptions you can claim (yourself, your spouse if filing jointly, and qualifying dependents). On line 42, multiply this number by $3,700, the 2011 per-exemption amount. This reflects the inflation-adjusted deduction specific to tax year 2011.
Step 3: Report Wage and Salary Income
Enter W-2 wages on line 7. Attach all Forms W-2 to the front left margin of your return. Include wages from all employers. If you received tips, self-employment income, or other compensation not on a W-2, report these amounts on the appropriate lines following IRS instructions.
Step 4: Report Interest and Dividend Income
Enter taxable interest on line 8a. If your taxable interest exceeds $1,500, complete and attach Schedule B. Enter ordinary dividends on line 9a and qualified dividends on line 9b. Qualified dividends receive preferential tax rates: 0% if you’re in the 10% or 15% ordinary income tax brackets, or 15% if you’re in higher brackets. If you have any dividends, attach Schedule B.
Step 5: Report Other Income Types
On line 10, report any state or local income tax refund that you deducted in a prior year and that provided a tax benefit. On line 11, enter the amount of alimony received. Alimony must meet specific requirements depending on whether your divorce or separation instrument was executed before January 1, 1985, or after December 31, 1984. Post-1984 instruments require cash payments under a divorce decree or a written separation agreement, provided specific conditions are met.
Step 6: Report Capital Gains and Losses
For capital gains and losses, complete Form 8949 (Sales and Other Dispositions of Capital Assets) first, then transfer the totals to Schedule D. Form 8949 was introduced as a new requirement starting with the 2011 tax year to provide detailed transaction reporting. Attach both Form 8949 and Schedule D to your return. Report the final amount on line 13 of Form 1040.
Step 7: Attach Required Schedules for Business and Other Income
If you have self-employment income, complete and attach Schedule C or Schedule C-EZ to report it on line 12. For rental real estate, royalties, partnerships, S corporations, or trusts, attach Schedule E to report income or losses on line 17. If you have farm income or losses, attach Schedule F to report them on line 18. For sales of business property, complete Form 4797 as needed.
Step 8: Report IRA and Pension Distributions
Enter total IRA distributions on line 15a and the taxable portion on line 15b. Enter total pensions and annuities on line 16a and the taxable portion on line 16b if you made nondeductible contributions to your IRA. Complete Form 8606 to calculate the nontaxable portion. Ensure your basis calculations reflect all contributions made through December 31, 2011.
Step 9: Calculate Adjusted Gross Income
Add lines 7 through 21 to calculate total income on line 22. Then complete lines 23 through 35 for adjustments to income. Total these adjustments on line 36, then subtract line 36 from line 22 to arrive at your adjusted gross income on line 37.
Step 10: Choose Standard Deduction or Itemized Deductions
Determine whether to claim the standard deduction or itemize deductions. For 2011, the standard deduction amounts are as follows: Single, $5,800; Married Filing Jointly, $11,600; Married Filing Separately, $5,800; Head of Household, $8,500; and Qualifying Widow(er), $11,600. If you were 65 or older (born before January 2, 1947) or blind, check the appropriate boxes on lines 39a or 39b to claim additional standard deduction amounts. Enter either your standard deduction or itemized deductions from Schedule A on line 40.
Step 11: Calculate Taxable Income
Subtract line 40 (deductions) and line 42 (exemptions) from line 37 (adjusted gross income) to determine your taxable income on line 43. If the result is zero or less, enter zero. This is the income amount subject to federal income tax.
Step 12: Calculate Tax Liability
Using your taxable income from line 43, calculate your tax using the Tax Table or Tax Computation Worksheet provided in the Form 1040 instructions. Use the column corresponding to your filing status. If you have qualified dividends or capital gains, you may need to complete the Qualified Dividends and Capital Gain Tax Worksheet to take advantage of lower tax rates. Enter the calculated tax on line 44.
Step 13: Calculate Credits and Additional Taxes
Complete lines 45 through 54 to calculate any credits that reduce your tax liability, such as the child tax credit, education credits, retirement savings contributions credit, or earned income credit. Then complete lines 55 through 60 to add any additional taxes owed, such as self-employment tax from Schedule SE, household employment taxes from Schedule H, or recapture taxes. Calculate your total tax on line 61.
Step 14: Report Federal Tax Withheld and Payments
On line 62, enter federal income tax withheld from Forms W-2, W-2G, and 1099. On line 63, report estimated tax payments you made for 2011. Include any amount applied from your 2010 return. Report any additional fees on the appropriate lines, then total all payments on line 71.
Step 15: Determine Refund or Amount Owed
Compare your total payments (line 71) with your total tax (line 61). If your costs exceed your tax liability, you will receive a refund. Enter the overpayment on line 72 and indicate on lines 73–76b whether you want it refunded or applied to your 2012 estimated tax. If your tax exceeds your payments, you owe additional tax. Calculate the amount owed on line 77, and either include the payment with your return or specify your preferred payment method.
Important Reminders
● Signature Requirements: Both spouses must sign and date the return if filing married filing jointly. If you paid someone to prepare your return, the paid preparer must also sign, enter their Preparer Tax Identification Number (PTIN), and provide their contact information.
● Attachment Order: Attach all forms and schedules in the sequence listed in the Form 1040 instructions. Place Form W-2 on the front left margin of page 1. Attach other forms and schedules to the back of page 2.
● Due Date: The filing deadline for 2011 tax returns is April 17, 2012 (extended from April 15 due to Emancipation Day observance in Washington, D.C.). If you need additional time, file Form 4868 by April 17 to request an automatic six-month extension to October 15, 2012.
● Record Retention: Keep copies of your filed return and all supporting documents for at least three years from the filing date or due date, whichever is later. The IRS generally has three years to audit returns, although this period can extend to six years if substantial income was omitted.
Special Considerations
● Deceased Taxpayers: If a taxpayer died during 2011, the personal representative is required to file the final return. Write “DECEASED” and the death date across the top of the return. The representative should sign and include their title.
● Alternative Minimum Tax: Some taxpayers may owe Alternative Minimum Tax (AMT) in addition to regular tax. Complete Form 6251 if required to determine if you owe AMT.
● Health Coverage: Although the Affordable Care Act was enacted, the individual shared responsibility provision requiring health coverage does not take effect until 2014, so no reporting is required on 2011 returns.
● State Returns: Remember to file your state income tax return separately. State filing requirements and deadlines may differ from federal requirements.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
