January 2022
Beginner
656 pages
21h 48m
English
Content preview from Taxes For Dummies
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Chapter 7
Form 1040, Schedule 1, Part II: Adjustments to Income Stuff
IN THIS CHAPTER
Calculating your adjusted gross income
Checking on health savings account deductions and moving expenses
Finding deductions if you’re self-employed
Reporting alimony paid (that you deduct!)
Keeping track of IRA deductions for you and your spouse
Seeking student loan interest, tuition, and fees deductions
Congratulations! If you’re reading this chapter, you’ve probably made it through the first part of your income tax return. If the amount on Form 1040, line 9, represents all your income, you may now think that all you have to do is figure your tax on that amount. But wait! All you’ve done so far is figure out your total income. Your taxable income will be much, much less. In this chapter, you can find out about the first set of deductions you can subtract from the total, the so-called adjustments ...
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