IRS release form 1040 for 2019

Technical topics regarding tax preparation.
#1
Keyad22  
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IRS has released on its website a number of draft tax forms and instructions, and a few final forms, for the 2019 tax year, including Form 1040 and its related schedules.

Form 1040:
The filing status line at the top of Form 1040 asks for additional information for MFS, HH, QW.
Income parts are moved back to form 1040 page1.
Separate lines for IRA distributions (Lines 4a and 4b) and pensions and annuities (Lines 4c and 4d).
Line 10. Qualified business income deduction requires Form 8995 (Qualified Business Income Deduction Simplified Computation) or Form 8995-A (Qualified Business Income Deduction)
Signature; paid preparer signature are back to page 2.


Schedule 1-6
2018's Schedule 4, Other Taxes, is part of Schedule 2- Additional Taxes for 2019.
2018's Schedule 5, Other Payments and Refundable is part of Schedule 3 Additional Credits and Payments for 2019
Schedule 6 Foreign address; party to discuss return moved to form 1040 main form.

Form 1040, Schedule 1—Additional Income and Adjustments to Income (Not final)
Question about virtual currency.
Line 2b. Date of original divorce or separation agreement. Only alimony based on pre-2019 agreements is included in income.
Line 18c. Date of original divorce or separation agreement. Only alimony based on pre-2019 agreements is deductible.
 

#2
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Just when I was starting to get comfortable with the 2018 forms...
 

#3
jon  
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How about the SR - for us of the aging population.
 

#4
makbo  
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jon wrote:How about the SR - for us of the aging population.

I'll be configuring my software to always use Form 1040 (just as I used to avoid 1040A and 1040-EZ).

The majority of taxpayers (which includes DIY using TurboTax and H&R Block At Home) don't view the actual tax forms, I'd wager, since those products require you to go out of your way to actually view the tax return using forms. Even my clients, who all receive copies of the return, probably never look at them based on the number of questions (zero) that I receive based on the forms.

A one or two page summary showing current and prior year results is far more valuable to understanding one's tax situation than any presentation involving actual forms --especially when the Form 1040 keeps on changing so drastically from year to year!
 

#5
Jake  
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Whoever thought replacing a 2 page 1040 with a 1 page 1040 and numerous schedules ought to be shot. This is the governments idea of simplification?
 

#6
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#7
juro  
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Jake wrote:Whoever thought replacing a 2 page 1040 with a 1 page 1040 and numerous schedules ought to be shot. This is the governments idea of simplification?



but that is what keeps us in business :D
 

#8
Gjkycpa  
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The 2018 Form 1040 is useless, happy it only had a 1 year life.
I always go to my 3 year comparison summary to review clients tax info.
 

#9
LW25  
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Jake wrote:Whoever thought replacing a 2 page 1040 with a 1 page 1040 and numerous schedules ought to be shot. This is the governments idea of simplification?


My theory has always been that the goofy 2018 format was based on pressure from the con artists in Congress who had been touting the silly "post card" tax form idea for years.
 


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