Guide on IRS Tax Schedules, Publications, and Forms of 2020

IRS website contains up to 900 forms that are used during the tax filing period. Each was created to cover a specific case. US citizens use only some of them for their taxes. At the same time, there are 10 main forms that are filed by almost all taxpayers.
If you want to take a closer look at these forms, you will find them on this website. We gather a great collection of IRS documents here. Check the list of the forms you will need in 2020.

Tax Forms 1040 and 1040-SR

These are standard forms of tax income declaration. Taxpayers provide them to declare their yearly income, claim credits and deductions if there are any. These forms help to measure the amount of tax bill or tax refund.

Schedule A

Schedule A requires information on deductions you’ve made. It includes taxes on property, state taxes, mortgage interest, charity, medical bills. It is one of the most important forms of the IRS.

Schedule B

The form provides information on dividends bigger than $1500 and taxable interest. You have to include only taxable payments there. The lower the dividends you receive, the lower the taxes you pay.

Schedule C

If you are a freelancer and you want to report your profit or losses, you have to file out this form. You may also use to report the development of the expenses of your business. It can be ads or office supplies, for example.

Schedule D

Those taxpayers who gave bonds and stocks have to file Schedule D form. Simply name your losses or gains during the year in this form. You may also need the data from the 1099 Form, which you can find on our website.

Form W-2

The W-2 form is the one that you receive from the employer somewhere in January or February. It shows the information on the salary your employer paid for you during the last year. You may find the retirement plan of the company for you and taxes that were paid on your behalf.

Form 1098

The 1098 form is required by mortgage owners. You receive it in the mail. The form contains data on the money you paid during the year for your home loan.

Form 1099

This form documents the income you got from your side jobs. If you have other sources of income, you have to file the 1099 form. There are 1099-MISC, 1099-DIV, 1099-OID, and 1099-INT forms for taxpayers.

Form 1040X

If you completed the return form and made an error in it, use 1040X form. You have to include copies of other tax forms to prove your point. The form must be filed only on paper and sent by regular mail.

The Forms You File

Tell us which forms you usually file during the taxpaying period. Which are the most complicated for you? Share your thoughts in the comments below.