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US Tax Forms

What is Schedule 1: IRS Form 1040?

Varun GuptaBy Varun Gupta |Last Updated: January 3, 2026
What is Schedule 1: IRS Form 1040?
    2. US Tax Forms
    3. What is Schedule 1: IRS Form 1040?
    4. Reading Time: 8 mins
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    Frequently Asked Questions

    No matter what your source of income is, we've got you covered. There’s a plan for everybody!

    Schedule 1 is an attachment to Form 1040, used to report types of income that are not directly listed on the main Form. It includes business income, rental income, unemployment compensation, and taxable refunds. It also enables taxpayers to claim certain "above-the-line" deductions like IRA contributions or student loan interest.

    You need to file Schedule 1 if you have additional income sources apart from wages, interest, dividends, and social security benefits. It includes freelancers, small business owners, landlords, and anyone reporting unemployment income or claiming specific deductions.

    Schedule 1 reports additional income, such as:

    • Farm income
    • Winnings from gambling
    • Business income (Schedule C)
    • Rental income (Schedule E)
    • Unemployment compensation
    • Taxable refunds of state and local income taxes. 

    Common deductions reported on Schedule 1 include the following:

    • IRA contributions
    • Educator expenses (teachers)
    • Student loan interest deduction
    • Self-employed health insurance premiums 
    • Health savings account (HSA) contributions
    • Alimony paid (for divorce agreements before 2019)

    In case your only income is acquired from wages, interest, dividends, social security, or capital gains, then you are not required to file Schedule 1. You only need to file it if you have additional income or specific deductions.