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Video instructions and help with filling out and completing Will 1041 Schedule Instructions 2024

Instructions and Help about Will 1041 Schedule Instructions 2024

This is a brief overview of the form 1040. We're looking at the 2015 version of this form. I'm just going to go over the basic concept of the form, the general areas of the form, and eventually throughout the course you will have a better understanding of each of the individual line items. Your form 1040 is the main reporting form for an individual tax return. However, there is so much information that goes into a tax return that it cannot all be clearly represented in just one form. So, this is where all the totals of the various categories and income categories expense categories come in. However, there are numerous schedules and additional forms that have to be completed and are then attached to this main form. They include all the detail of the totals seen on this form. For example, you see here on line 8a attached Schedule B. I'm going to put the total amount of interest earned right here on a day. However, on Schedule B, which is attached to this form 1040, would then be listed out all the details of the interest earned. Same thing here, Schedule C. This is for business income for self-employed individuals. All of the details, the income, the breakdown of expenses, is going to be on the schedule. On this line here, line 12, I would just see my total net number that's taxable. Then, you see there's other things attached, form 4797, form 8889, form 3903, form 2106. So, there are numerous forms, numerous schedules that are attached to the form 1040, again that provide the details to the numbers that you're seeing on the form. The top of the 1040 is all informational type things. You have to put your first name, last name, your address all in this...