Instructions for How to Fill Out a Schedule A, Form 1040
When you fill out your tax return, you can lower your taxable income by claiming a flat deduction, called the standard deduction, or you can itemize deductible expenses on Schedule A of Form 1040. Deductible expenses include medical expenses, charitable donations, education expenses and employment expenses. You should only itemize deductions if your deductible expenses are higher than the standard deduction; otherwise, you end up paying more than your required amount in taxes. Keep records, such as receipts, of the deductions you want to include on Schedule A and consult with a tax professional if you are unsure of any expenses.
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Instructions
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Compile receipts and other records that prove your deductible expenses. Include documentation such as medical bills, mortgage statements showing interest paid, and state and local tax information.
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Follow the instructions on Form 1040 to complete the first page and determine your Adjusted Gross Income (AGI), which can limit the deduction of some expenses.
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Enter your medical expenses on line 1 of Schedule A. Include expenses such as doctor, dentist and hospital fees, prescription medications and medical equipment. Enter your AGI from Form 1040 on line 2 and multiply it by .075 because you can only deduct medical and dental expenses that exceed 7.5 percent of your income. Enter the result on line 3 and then subtract it from your expenses on line 1. Write the result on line 4.
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Enter the total amount you paid in state and local taxes, real estate taxes, personal property taxes and any other deductible taxes on lines 5 through 8 respectively. Add the lines together and enter the total on line 9.
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Record the amount of mortgage interest and points you paid on lines 10 through 12. Include the premiums for any mortgage insurance on line 13 and any investment interest you paid out on line 14. Add lines 10 through 14 and enter the sum on line 15.
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List monetary charitable donations on line 16 and non-monetary donations on line 17. Consult with the statements most charities send to donors to ensure you enter the correct value of your donations. Fill out and attach Form 8283 to your tax return if you gave more than $500 to charity. Include any charitable giving carry over from the prior year on line 18 if your donations exceeded the income limit for that type of donation. Add the lines together and enter the total on line 19.
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Report any losses from theft, fire, flood or other casualty on line 20. Enter miscellaneous expenses such as employment expenses and tax preparation fees on lines 21 through 28. Add lines 4, 9, 15, 19, 20, 27 and 28 and enter the total on line 29 of Schedule A as well as on line 40 of Form 1040.
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