Tips for filling out an individual federal income tax form include choosing Form 1040A, rather than Form 1040EZ, to deduct interest payments on student loan debt, contributions to individual retirement accounts and obtaining lifetime learning tax credits, states Bankrate. Form 1040 gives taxpayers more than 12 deductions as of 2015.
Taxpayers who have deductions that can be itemized should consider using Form 1040, even if they used different forms in previous years, because changing forms can save money, explains Bankrate. Filers who are self-employed, completed an income-generating sale of property, incurred moving expenses, paid alimony or have more than $100,000 income should file Form 1040. Form 1040 is the longest tax form, but offers the most opportunities to reduce taxable income.