I Like Accounting

IRS Tax Forms

Lesson
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The United States loves to have documents that need to be filled out by accountants.

Being able to recognize each by its name or purpose can be helpful.

Question
The CEO of Michael Jones, inc., the ancient boat exporter, asked you to take a look at a document he found in his desk.

Here's what you know:

  • The document's title is Schedule 1.

What's the form for?
Answer
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👉 Answer:

  • It's for accounting for additional income and adjustments to income (unemployment compensation, gambling winnings, self-employment tax, etc.).
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