Schedule 1 (Form 1040), Additional Income and Adjustments to Income, collects items that do not appear individually on the face of Form 1040 or Form 1040-SR. The final 2025 schedule has two distinct jobs: Part I adds specified income to the return, while Part II subtracts allowable adjustments in arriving at adjusted gross income. It … Read more
Schedule 1-A (Form 1040), Additional Deductions, is a new schedule for tax year 2025. It calculates four deductions: qualified tips, qualified overtime compensation, qualified passenger vehicle loan interest, and the enhanced deduction for seniors. Eligible taxpayers may claim these deductions whether they take the standard deduction or itemize on Schedule A. These deductions are not … Read more
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