1040 Schedule 1-A Form Generator | Additional Deductions

Taxpayer Information

Name(s) shown on Form 1040, 1040-SR, or 1040-NR

Social Security Number

Filing status

Email Address

Part I. Modified Adjusted Gross Income (MAGI)

1. Form 1040, 1040-SR, or 1040-NR, line 11b

$

2a. Income from Puerto Rico that you excluded

$

2b. Form 2555, line 45

$

2c. Form 2555, line 50

$

2d. Form 4563, line 15

$

2e. Add lines 2a through 2d

$

3. Add lines 1 and 2e

$

Part II. No Tax on Tips

Fill out this part only if qualified tips were received.

4a. Qualified tips included on Form W-2, box 7

$

4b. Qualified tips included on Form 4137, line 1, row A, column (c)

$

4c. Employee qualified tips

$

5. Qualified tips received in the course of a trade or business

$

6. Add lines 4c and 5

$

7. Smaller of line 6 or $25,000

$

8. Amount from line 3

$

9. $150,000 or $300,000 if married filing jointly

$

10. Subtract line 9 from line 8

$

11. Divide line 10 by $1,000, rounded down

12. Multiply line 11 by $100

$

13. Qualified tips deduction

$

Part III. No Tax on Overtime

14a. Qualified overtime compensation included in Form W-2, box 1

$

14b. Qualified overtime compensation included in Form 1099-NEC or 1099-MISC

$

14c. Add lines 14a and 14b

$

15. Smaller of line 14c or $12,500 / $25,000 if married filing jointly

$

16. Amount from line 3

$

17. $150,000 or $300,000 if married filing jointly

$

18. Subtract line 17 from line 16

$

19. Divide line 18 by $1,000, rounded down

20. Multiply line 19 by $100

$

21. Qualified overtime compensation deduction

$

Part IV. No Tax on Car Loan Interest

Fill out this part only if qualified passenger vehicle loan interest was paid or accrued.

Line 22a. Applicable passenger vehicle

22a. Vehicle identification number (VIN)

22a(ii). Interest deducted on Schedule C, E, or F

$

22a(iii). Schedule 1-A interest

$

Line 22b. Applicable passenger vehicle

22b. Vehicle identification number (VIN)

22b(ii). Interest deducted on Schedule C, E, or F

$

22b(iii). Schedule 1-A interest

$

23. Add lines 22a and 22b, column (iii)

$

24. Smaller of line 23 or $10,000

$

25. Amount from line 3

$

26. $100,000 or $200,000 if married filing jointly

$

27. Subtract line 26 from line 25

$

28. Divide line 27 by $1,000, rounded up

29. Multiply line 28 by $200

$

30. Qualified passenger vehicle loan interest deduction

$

Part V. Enhanced Deduction for Seniors

31. Amount from line 3

$

32. $75,000 or $150,000 if married filing jointly

$

33. Subtract line 32 from line 31

$

34. Multiply line 33 by 6% (0.06)

$

35. Subtract line 34 from $6,000

$

36a. Taxpayer has valid SSN and was born before January 2, 1961.

36a. Taxpayer senior deduction

$

36b. Spouse has valid SSN and was born before January 2, 1961.

36b. Spouse senior deduction

$

37. Enhanced deduction for seniors

$

Part VI. Total Additional Deductions

38. Add lines 13, 21, 30, and 37

$

Enter this amount on Form 1040 or 1040-SR, line 13b, or Form 1040-NR, line 13c.

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Taxpayer Information

Part I. Modified Adjusted Gross Income (MAGI)

Part II. No Tax on Tips

Part III. No Tax on Overtime

Part IV. No Tax on Car Loan Interest

Part V. Enhanced Deduction for Seniors

Part VI. Total Additional Deductions

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