What Is Line 5 on Schedule a?
Form 1040 Department of the Treasury—Internal Revenue Service U.S. Individual Income Tax Return 2018 OMB No. 1545-0074 IRS Use Only—Do not write or staple in this space. (99) Filing status: Single Married filing jointly Married filing separately Head of household Qualifying widow(er) Your first name and initial Last name
What are the formulas on page two of the 1040?
The information from page two of your 1040 can also be presented as three simple formulas: 1 Taxable income = income – standard or itemized deduction 2 Tax = taxable income x tax rate 3 Tax liability = Tax – Credits – Withholdings
