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Form 1040 is utilized for personal federal income tax returns, allowing taxpayers to report filing status, personal details, and tax identification numbers for themselves, spouses, and dependents to the IRS. The form includes sections for reporting income and deductions to calculate tax owed or refunds due. Additional forms and schedules may be necessary to accurately report income and claim deductions and credits. Form 1040-SR caters to individuals aged 65 and older, featuring larger text and a standard deduction table. Previous versions, such as 1040A and 1040EZ, are now discontinued. For tax tips and support, visit turbotax.com.
