A 1040 Form is a U.S. Individual Income Tax Return form is used for individuals in filing their annual income tax returns. The 1040 Form is commonly referred to as the “Long Form.” For example, if a taxpayer received dividends that totaled more than $1,500, he or she will need to fill out Schedule B, which is the section for reporting interest and ordinary dividends. There are many variations of the 1040 Form. Taxpayers with limited income or few tax deductions, typically use an easier form called the 1040EZ.
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