What are the Common Mistakes in Filling out Form 1040

Filling up Form 1040 could be tedious and many questions may arise while doing so. To make sure that mistakes are avoided and their notices or refunds are not delayed, enumerated hereunder are some tips on how to fill up the Form1040 correctly.

It is important to enter the correct name and social security number (SSN) of the dependent claims which is written in line 6c of Form 1040. C Double check if each name corresponds with the correct SSN. Make sure the box in line 6c, column 4 is check if the child under 17 qualifies for child tax credit.

Double check the computations, more particularly, the earned income credit (EIC), the child tax credit, the taxable social security benefits, the total income, the itemized and standard deductions, the taxable income, total tax, tax withheld, deductions for exemptions and refund or amount owed. Mistakes on these deductions could cause delays or even over or under payments.

Do not forget to enter the SSN on page 1 of Form 1040. For couples who are filing jointly, enter also the spouse SSN. SSNs should be entered in the space next to the name. Additionally, names and addresses on the peel-off label of the form should be correct. Otherwise, you need to correct it for future use. If taxpayers live in an apartment, it is important to include the apartment number in the address.

Form 1040 Common Mistakes

For those who received capital gain distributions but were not required Schedule D, line 13 box should be checked. Do not forget to sign and put the date and occupation on Form 1040. Also, do not forget to include necessary attachments and Schedules and other required forms such as W-2. Put hem in correct order.

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