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Draft Instructions for 2018 Form 1040 Released by IRS

 

Draft Instructions for 2018 Form 1040 Released by IRS

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For those who want a sneak peek at what the Form 1040 instructions might look like, see here.  (For a sneak peek at the draft Form 1040 itself, see here.)  The instructions note that the Form 1040 is significantly smaller in size and contains far fewer lines than the 2017 Form 1040. However, the trade-off is that there are now six new accompanying schedules to the Form 1040. Taxpayers with extremely basic income and deductions will be able to file just the shortened Form 1040, while those with more complex returns may need to file one or more of those additional schedules. The draft instructions also provide a list of the major changes from the TCJA that impact individual taxpayers.

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Author(s)

Christenson_Crystal
Crystal Christenson, CPA, MST
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