Form 1040 (2019) Tax Year Checklist
Purpose
Form 1040 reports your total income, applies above-the-line deductions through Schedule 1, calculates your taxable income using either the standard or itemized deduction, and determines your final tax liability or refund. The 2019 tax year introduced significant form redesign, including new reporting locations for the American Opportunity Credit and specific provisions for excess deduction reporting from terminating estates and trusts.
Filing Steps
Step 1: Choose Your Filing Status
Select one of five filing statuses: single, married filing jointly, married filing separately, head of household, or qualifying widow(er). Your filing status determines your standard deduction amount and the tax rates applicable to you. If you file as married filing separately, enter your spouse’s name and Social Security number on the form. For head of household or qualifying widow(er) status, enter the qualifying child’s name if that person is a child but not your dependent.
Step 2: Enter Personal Information and Dependents
Provide Social Security numbers for yourself and your spouse if filing jointly. List all dependents in the designated section, including their names, Social Security numbers, and relationship to you. If you claim more than four dependents, check the box below the dependent section and follow the instructions for attaching additional schedules.
Step 3: Report Wages and Employment Income
Enter all wages, salaries, and tips on line 1. Attach all Forms W-2 received from employers. This line captures your earned income from employment before any adjustments or deductions.
Step 4: Report Interest and Dividend Income
Report tax-exempt interest on line 2a and taxable interest on line 2b. Enter qualified dividends on line 3a and ordinary dividends on line 3b. Attach Schedule B if your taxable interest or ordinary dividends exceed $1,500 during the tax year. Tax-exempt interest does not trigger the Schedule B filing requirement.
Step 5: Report Retirement Income and Social Security Benefits
Enter IRA distributions on lines 4a and 4b, with the total distribution on line 4a and the taxable amount on line 4b. Report pension and annuity distributions on lines 4c and 4d using the same format. For Social Security benefits, enter the total on line 5a and calculate the taxable portion using the worksheet in the instructions, entering the result on line 5b.
Step 6: Calculate Total Income
Report capital gains or losses on line 6, attaching Schedule D if required. Enter additional income from Schedule 1, line 9, on line 7a. Add lines 1, 2b, 3b, 4b, 4d, 5b, 6, and 7a to calculate your total income, entering the result on line 7b.
Step 7: Calculate Adjusted Gross Income
Enter adjustments to income from Schedule 1, line 22, on line 8a. This includes items such as educator expenses, student loan interest deduction, self-employment tax deduction, and IRA contributions. For beneficiaries of terminating estates or trusts, excess deductions under IRC Section 67(e) should be reported on Schedule 1, line 2, with the identifier “ED67(e)” on the dotted line. Subtract line 8a from line 7b to determine your adjusted gross income, entering it on line 8b.
Step 8: Apply Standard or Itemized Deduction
Enter the appropriate standard deduction amount for your filing status on line 9: single or married filing separately $12,200, married filing jointly or qualifying widow(er) $24,400, or head of household $18,350. Alternatively, itemize your deductions using Schedule A. You cannot claim both the standard deduction and itemized deductions. Note that if you are married and filing separately and your spouse itemizes, you must also itemize.
Step 9: Calculate Qualified Business Income Deduction
If you have qualified business income from pass-through entities such as partnerships, S corporations, or sole proprietorships, complete Form 8995 or Form 8995-A to calculate your qualified business income deduction. Enter the results on line 10. This deduction is available under the provisions of the Tax Cuts and Jobs Act of 2017.
Step 10: Determine Taxable Income
Add your deduction amount from line 9 and your QBI deduction from line 10, entering the total on line 11a. Subtract line 11a from your adjusted gross income on line 8b to calculate taxable income, which goes on line 11b. If the result is zero or negative, enter zero.
Step 11: Calculate Tax and Apply Credits
Calculate your tax using the tax tables or worksheets provided in the instructions and enter it on line 12a. Add any additional taxes from Schedule 2, line 3, and join the total on line 12b. This amount includes alternative minimum tax, net investment income tax, or other special taxes. Enter the child tax credit or credit for other dependents on line 13a, add any credits from Schedule 3, line 7, and enter the combined total on line 13b. Subtract line 13b from line 12b to get line 14.
Step 12: Add Other Taxes
Report self-employment tax, household employment taxes, and other additional taxes from Schedule 2, line 10, on line 15. Add lines 14 and 15 to determine your total tax on line 16.
Step 13: Report Withholding and Payments
Enter all the federal income tax withheld from Forms W-2 and 1099 on line 17. This represents amounts already paid toward your tax liability throughout the year.
Step 14: Claim Refundable Credits
Report the earned income credit on line 18a, attaching Schedule EIC if you have a qualifying child. Enter the additional child tax credit from Schedule 8812 on line 18b. Report the refundable portion of the American Opportunity Credit from Form 8863, line 8, on line 18c. This credit helps offset qualified education expenses for eligible students. Enter other payments and refundable credits from Schedule 3, line 14, on line 18d. Add lines 18a through 18d and enter the total on line 18e.
Step 15: Calculate Final Result
Add lines 17 and 18e to determine your total payments on line 19. If line 19 exceeds line 16, you have an overpayment that results in a refund. Subtract line 16 from line 19 and enter the result on line 20. If line 16 exceeds line 19, you owe additional tax. Subtract line 19 from line 16 and enter the amount owed on line 23.
Important Reminders
- Form Selection: For 2019, taxpayers born before January 2, 1955, may use either Form 1040 or the new Form 1040-SR, which is specifically designed for seniors. Both forms have identical line structures and instructions.
- Filing Deadline: The Form 1040 for tax year 2019 is due on April 15, 2020. If you cannot file by this date, request an automatic six-month extension using Form 4868, though any tax owed is still due by the original deadline to avoid interest and penalties.
- Signature Requirements: Both spouses must sign if filing jointly. Keep a copy of your completed return and all supporting documents for your records.
- Direct Deposit: Choose direct deposit for faster refund processing. Provide your bank routing number and account number on line 21 if you want your refund deposited directly.
Special Considerations
- Virtual Currency Transactions: If you engaged in any virtual currency transactions during 2019, you must file Schedule 1 and answer the virtual currency question on Form 1040.
- Excess Deductions from Estates or Trusts: Beneficiaries receiving excess deductions on termination from estates or trusts under IRC Section 67(e) report these as write-in adjustments on Schedule 1, line 22, with the notation “ED67(e)” on the dotted line.
- Premium Tax Credit Reconciliation: If you or a family member enrolled in health insurance through the Marketplace with advance premium tax credit payments, you must attach Form 8962 to reconcile these payments, regardless of whether you owe additional tax.
- Disaster Relief Provisions: Taxpayers affected by federally declared disasters may qualify for special provisions, including increased standard deductions based on qualified disaster losses and the option to use prior-year earned income for calculating refundable credits.
- Alternative Minimum Tax: The AMT exemption amount increased to $71,700 for single filers and $111,700 for married filing jointly. The phase-out threshold is $510,300 for single filers and $1,020,600 for married filing jointly.
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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.
