The 1040 is the main federal tax return form the IRS uses to collect income information from you
Form 1040 is the standard form you file with the Internal Revenue Service to report your income for the year and calculate how much federal income tax you owe or how much refund you should receive. The IRS does not send you a 1040 — you obtain it yourself and file it by April 15 (or the next business day if that falls on a weekend or holiday). The form asks for your personal information, income from all sources, deductions, and tax credits you may be may have access to to.
The 1040 comes in one version now, though it has changed over time. Older versions included a "long form" (1040) and a "short form" (1040-A or 1040-EZ), but the IRS consolidated these into a single 1040 starting in 2019. Whether your situation is simple or complex, you file the same form — you just attach different schedules depending on what income you earned and what deductions or credits apply to you.
Key Takeaways
- Form 1040 is where you report all your income to the IRS and calculate your federal tax liability or refund.
- You obtain the 1040 yourself from IRS.gov, a tax software provider, or a tax preparer — the IRS does not mail it to you unsolicited.
- The form requires your name, Social Security number, filing status, income from wages, self-employment, investments, and other sources, plus any deductions or credits you claim.
- If you have investment income, self-employment income, or other complex tax situations, you attach additional schedules (like Schedule C or Schedule D) to your 1040.
- The deadline to file is April 15 each year, though you can request an extension to October 15 if you need more time.
What information goes on the 1040
The 1040 asks for your basic identification: your name, address, Social Security number, and filing status (single, married filing jointly, married filing separately, head of household, or may have access to widow or widower). You also indicate whether anyone can claim you as a dependent.
The income section lists where your money came from during the year. This includes wages from an employer (reported on a W-2 form), self-employment income, interest and dividends, capital gains or losses from selling investments, rental income, and other sources. You add these up to get your total income.
Below that, you report deductions. Most people take the standard deduction, which is a flat amount the IRS sets each year that reduces your taxable income. For 2024, the standard deduction is $14,600 for single filers and $29,200 for married couples filing jointly, though these amounts change annually. If you own a home, paid significant medical expenses, or made large charitable donations, you may instead itemize deductions on a separate schedule, but only if your itemized total exceeds the standard deduction.
Finally, you calculate your tax using tax tables or a tax software, and you report any tax credits you may have access to for — such as the Earned Income Tax Credit, Child Tax Credit, or education credits. These credits reduce your tax dollar-for-dollar, which is why they are more valuable than deductions.
When and how to file your 1040
You file your 1040 by April 15 of the year following the tax year. For example, you file your 2024 income on or before April 15, 2025. If April 15 falls on a weekend or holiday, the deadline moves to the next business day.
You have three main options for filing. You can download the form from IRS.gov, fill it out by hand, and mail it to the address listed on the form. You can use tax software (such as TurboTax, H&R Block, or TaxAct) to prepare and file electronically, which is faster and reduces errors. Or you can hire a tax preparer or accountant to complete the form for you.
If you cannot file by April 15, you can request an automatic extension using Form 4868. This gives you until October 15 to file, but it does not extend the deadline to pay any tax you owe — you still owe payment by April 15, or you will face penalties and interest.
Schedules and additional forms that attach to the 1040
The 1040 itself is relatively short — usually one or two pages. But depending on your situation, you attach additional forms called schedules that provide detail on specific types of income or deductions.
Schedule C is for self-employment income. If you run a business or are a freelancer, you report your business income and expenses on Schedule C, then transfer the net profit or loss to your 1040. Schedule D is for capital gains and losses from selling stocks, bonds, real estate, or other investments. Schedule E is for rental income and losses. Schedule A is for itemized deductions if you choose to itemize instead of taking the standard deduction.
Other common schedules include Schedule 1 (for other income not reported on the main 1040, such as alimony or prizes), Schedule 2 (for additional taxes you owe), and Schedule 3 (for other credits and payments). The tax software you use will prompt you to complete the schedules that match your situation.
What happens after you file
Once you file your 1040, the IRS processes it. If you are owed a refund, you receive it by direct deposit (usually within 21 days if you filed electronically) or by check (usually within four to six weeks if you mailed a paper return). If you owe tax, you must pay it by the April 15 deadline to avoid penalties and interest.
The IRS may contact you if there are errors on your return, if you claimed a credit you do not may have access to for, or if your reported income does not match what employers or financial institutions reported to the IRS. This is called an audit or examination. Most audits are handled by mail, and you have the right to respond and provide documentation to support your return.
Who must file a 1040
You must file a 1040 if your income exceeds the filing threshold for your age and filing status. For 2024, a single person under 65 must file if they earned more than $14,600 in wages. A married couple filing jointly must file if their combined income exceeded $29,200. These thresholds are higher if you are 65 or older.
Even if your income is below the threshold, you should file if you had taxes withheld from your paychecks or if you are may have access to to refundable credits like the Earned Income Tax Credit. Filing allows you to recover the taxes you paid and claim credits you may have access to for.
Frequently Asked Questions
Do I have to file a 1040 if I made very little money?
If your income is below the filing threshold for your age and status, you are not required to file. However, if your employer withheld taxes from your paychecks, filing a 1040 will get you a refund. If you earned less than $400 from self-employment, you do not have to file, but filing may still benefit you if you may have access to for credits.
What is the difference between the 1040 and a W-2?
A W-2 is a form your employer sends you showing how much you earned and how much tax was withheld. The 1040 is the form you file with the IRS that reports all your income from all sources and calculates your total tax. You use information from your W-2 to fill out your 1040.
Can I file a 1040 on paper, or do I have to file electronically?
You can file on paper by printing the form, filling it out by hand, and mailing it to the IRS. However, electronic filing is faster, more accurate, and you receive a refund more quickly. The IRS encourages electronic filing and offers free software options if your income is below a certain threshold.
What if I made a mistake on my 1040 after I filed it?
You can file an amended return using Form 1040-X. You have three years from the original filing date to claim a refund, but you should file the amended return as soon as you discover the error to avoid penalties and interest if you owe additional tax.
Do I need to keep my 1040 after I file it?
Yes. Keep a copy of your filed 1040 and all supporting documents (W-2s, receipts, bank statements) for at least three years. The IRS can audit returns up to three years after filing, and you will need these documents to support your return if questions arise.