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Form 1040A qualifications

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📊 Form 1040A Qualification Checklist

Step 1: Confirm your income sources

The taxpayer only has income from the following sources:

• Wages, salaries, tips.
• Interest and ordinary dividends.
• Capital gain distributions.
• Taxable scholarship and fellowship grants.
• Pensions, annuities, and IRAs.
• Unemployment compensation.
• Taxable social security and railroad retirement benefits.
• Alaska Permanent Funds dividends.

Step 2: Confirm your adjustments to income

The only adjustments to income the taxpayer can claim are:

• Educator expenses.
• IRA deduction.
• Student loan interest deduction.
• Tuition and fees deduction.

Step 3: Confirm whether you itemize deductions

The taxpayer does not itemize deductions.

Step 4: Confirm your taxable income limit

The taxpayer's taxable income (line 27) is less than $100,000.

Step 5: Confirm your allowable tax credits

The only tax credits the taxpayer can claim are:

• Credit for child and dependent care expenses.
• Credit for the elderly or the disabled.
• Education credits.
• Retirement savings contribution credit.
• Child tax credit.
• Earned income credit.
• Additional child tax credit.

Step 6: Check the alternative minimum tax (AMT) restriction

The taxpayer did not have an alternative minimum tax adjustment on stock they acquired from the exercise of an incentive stock option (See Publication 525).

Tags: federal,form