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Section 1 Introduction and Changes in Law Irs Form

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we'll be going over IRS Schedule one additional income and adjustments to income this tax form reports items of income and adjustments to income that do not fit on a taxpayers form 1040 so individual taxpayers will use this uh when they are reporting those additional items of income or adjustments to income so this tax form has two parts on part one you'll enter various items of additional income that did not make their way into your form 1040 you'll combine those items and then you'll put them on line eight of your 1040 part two uh contains all the adjustments to income so each of these adjustments is basically an above the-line tax deduction uh they're also known as adjustments to AGI adjustments to to income because all of these tax deductions will lower your adjusted gross income so not only do you pay lower taxes but a lower AGI has a ripple effect on other tax benefits for example uh if you deduct medical expenses on schedule a then you sho

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