Q:

Is the IRS 1040a short form appropriate for a self-employed taxpayer?

A:

Quick Answer

The 1040a tax return form is not appropriate for self-employed taxpayers, according to the IRS. Self-employed individuals must file Form 1040, which is the only tax return that allows for reporting of self-employed income.

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Full Answer

Form 1040a is an appropriate choice for those who made less than $100,000 in the given tax year, received capital gains distributions, claim tax credits, or claim adjustments to income for student loan interest or IRA contributions, explains the IRS. The standard Form 1040 is the right choice not only for those who are self-employed, but also for those with incomes of more than $100,000, those claiming itemized deductions and those reporting income from the sale of real estate.

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