The 2018 1040 Form Shortened
The 2018 draft version of IRS form 1040 (U.S. Individual Income Tax Return) has undergone some major changes. The new version reduces the length to two half-pages and has over fifty fewer lines than the 2017 version. Many of the items that were previously on the front of the form have also been moved to new schedules.
The first page of the new version will gather information about the taxpayer and dependents, while the second page gathers information about the credits, income deductions, and taxes paid by the taxpayer.
Several new schedules (numbers 1-6) have been created to calculate many of the items reported on the 1040. The new schedules do still refer to some existing schedules, which will presumably continue to exist in the updated form. These include Schedule A, Itemized Deductions, Schedule C, Profit or Loss From Business, Schedule D, Capital Gains and Losses, Schedule E, Supplemental Income and Loss, Schedule F, Profit and Loss From Farming, Schedule H, Household Employment Taxes, Schedule SE, Self-Employment Tax, and Schedule 8812, Child Tax Credit.
However, Schedule B, Interest and Ordinary Dividends, Schedule J, Income for Farmers and Fisherman, and Schedule R, Credit for the Elderly or the Disabled are not mentioned on the new form or schedules.
