The biggest change: bigger print.
For the 2019 tax year, your friends at the IRS have introduced the new Form 1040-SR . This exciting development is proof that the Feds care deeply about the tax-filing needs of older folks. Not quite. Actually, Congress required the IRS to develop a new form that was simpler and easier for senior taxpayers. The IRS response with new Form 1040-SR was the least they could do. Literally.
* Page 2 of Form 1040-SR continues with the bigger print and bigger spaces theme. Otherwise, it’s identical to page 2 of the regular Form 1040. For both the new Form 1040-SR and the 2019 version of the regular Form 1040, report net capital gain or loss on page 1, line 6. * Schedules 3 and 5 from 2018 were combined into new Schedule 3 for 2019. Use Schedule 3 to identify any tax credits that are not claimed directly on page 2 of Form 1040-SR or page 2 of the regular Form 1040 .
Sidebar: The extenders No, this is not the name of a new Netflix NFLX, +3.74% series. It’s the shorthand description for a bunch of tax breaks that our beloved Congress habitually allows to expire before re-upping them for another year or two at the last possible minute. Here are the important extenders for individual taxpayers.
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