Q:

What information is required to fill out a 1040 Schedule A form?

A:

Quick Answer

A taxpayer needs information regarding the deductions he plans to take using Schedule A, such as medical expenses, taxes, interest, charitable gifts and losses from casualty or theft, according to TurboTax. Work-related expenses and certain miscellaneous items are also deductible. The form only requires information for the deductions the filer actually takes.

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Full Answer

Taxpayers only file Schedule A for the years in which they choose to itemize their deductions, advises TurboTax. In other years, they use the optional standard deduction. The amount of the standard deduction varies depending on the filing status. The standard deduction does not require receipts or other proof of expenses.

Schedule A requires taxpayers to complete the lines for the deductions they are eligible to claim, reports TurboTax. Taxpayers benefit from itemizing their deductions on Schedule A if the total amount of eligible deductions exceeds the standard deduction.

Taxpayers should take care to claim all deductions for which they are eligible when filling out Schedule A, warns TurboTax. While most taxpayers are aware that property taxes on their homes are deductible, they sometimes forget taxes on boats or other properties. Taxpayers that do not pay state income tax have the option of deducting all state taxes, including sales tax. Those who keep all their receipts throughout the year maximize this deduction.

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