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Schedule 1 Form 1040 Additional Income and Adjustments to Income

Schedule 1 Form 1040 Additional Income and Adjustments to Income

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Video instructions and help with filling out and completing Schedule 1 Form 1040 Additional Income And Adjustments To Income

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Instructions and help about schedule 1 tax form

[Music] hi i'm the tax geek and this is your taxes oversimplified today we ask the question what is adjusted gross income if you ask most people what is the most important number on their tax returns the vast majority will say my refund or if they're less fortunate what i owe sorry folks arguably the most important number on your tax return sits on line 11 of page 1 of your 1040. this is your adjusted gross income since i referred to adjusted gross income frequently throughout these videos i felt it was time to define this important number and tell you how it's calculated don't think it's important here is a listing of tax advantages that are dependent on knowing your adjusted gross income or some modification of it i'll give you a minute to look it over in most of these cases your adjusted gross income sets upper limits on tax credits and deductions so that being said how do you calculate your adjusted gross income first you start with y

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