Form 1040 consists of two full pages not counting attachments. The first page collects information about the taxpayer(s), dependents, income items, and adjustments to income. The second page calculates the allowable deductions and credits, tax due given the income figure, and applies funds already withheld from wages or estimated payments made towards the tax liability. At the top of the first page is the P**********l e******n campaign fund checkoff, which allows you to designate that THE FEDERAL GOVERNMENT give $3 of the tax it receives to the P**********l e******n campaign fund.
Form 1040 has 14 attachments, called "schedules", which may need to be filed depending on the taxpayer. For 2009 and 2010 there was an additional form, Schedule M, due to the "Making Work Pay" provision of the American Recovery and Reinvestment Act of 2009 ("the stimulus"):
Schedule A itemizes allowable deductions against income; instead of filling out Schedule A, taxpayers may choose to take a standard deduction of between $6,100 and $12,200 (for tax year 2013), depending on age, filing status, and whether the taxpayer and/or spouse is blind.
Schedule B enumerates interest and/or dividend income, and is required if either interest or dividends received during the tax year exceed $1,500 from all sources or if the filer had certain foreign accounts.
Schedule C lists income and expenses related to self-employment, and is used by sole proprietors.
Schedule D is used to COMPUTE capital gains and losses incurred during the tax year.
Schedule E is used to report income and expenses arising from the rental of real property, royalties, or from pass-through entities (like trusts, estates, partnerships, or S corporations).
Schedule EIC is used to document a taxpayer's eligibility for the Earned Income Credit.
Schedule F is used to report income and expenses related to farming.
Schedule H is used to report taxes owed due to the employment of household help.
Schedule J is used when averaging farm income over a period of three years.
Schedule L (until 2010) was used to figure an increased standard deduction in certain cases.[2]
Schedule M (2009 and 2010) was used to claim the Making Work Pay tax credit (6.2% earned income credit, up to $400).[3]
Schedule R is used to calculate the Credit for the Elderly or the Disabled.
Schedule SE is used to calculate the self-employment tax owed on income from self-employment (such as on a Schedule C or Schedule F, or in a partnership).
Schedule 8812 is used to calculate the Child Tax Credit.
https://en.wikipedia.org/wiki/IRS_tax_formsCasualty and Theft Losses: Section 165(c) of the United States Internal Revenue Code limits losses that taxpayers can deduct into three categories: business or trade losses, investment losses, and losses incurred from casualty or theft. A loss incurred by a taxpayer from the sale of the taxpayer's personal residential property is not deductible. Personal residential property losses do not fit under any of the enumerated categories under Internal Revenue Code section 165(c). Furthermore, Income Tax Treasury Regulation section 1.165-9 states that a loss sustained on the sale of residential property purchased or constructed by the taxpayer for use as his personal residence and so used by him up to the time of the sale is not deductible under Internal Revenue Code section 165(a).
However if, prior to the sale of the personal residence, the taxpayer converts the residential property into a rental property, a loss sustained on the sale of the property will be deductible under Internal Revenue Code section 165(c)(2). To calculate the loss on residential property that was converted into a rental, prior to the sale of the property, Treasury Regulation section 1.165-9(2) states that the basis of the property will be the lesser of either the fair market value at the time of conversion or the adjusted basis determined under Treasury Regulation section 1.1011-1.
https://en.wikipedia.org/wiki/Loss_on_sale_of_residential_property