Welcome to the “simplified” 1040 Form. The new “simplified” form is shorter, yes. But to make it shorter, they had to create 6 new schedules. Yes, 6 new supporting schedules! Do these sound simple to you?
Schedule 1 – this is for taxpayers with additional sources of income (not from a W-2).
Schedule 2 – this is for taxpayers with some other form of taxes (like a child’s unearned income).
Schedule 3 – nonrefundable tax credits go here.
Schedule 4 – this is for taxpayers to add up certain taxes, like self-employment tax, uncollected SS and Medicare tax, etc.
Schedule 5 – this is to add up tax payments, such as estimated tax payments, etc.
Schedule 6 – no math here(cue the applause)! this is where you can appoint a third party designee.