The IRS released a draft Form 1040 and the new Schedule 1-A for 2025. It shows calculations for the new some OBBBA deductions, including the No Tax on Tips, Overtime, Car Loan Interest, and the Enhanced Senior Deduction.
Thanks to all who have read and commented. Here is the link to the IRS’ Draft Tax Form site. There are almost 7 pages of draft forms released since the signing of the OBBBA.
Thanks, Rick. I see there’s now a check box for QCDs. And if memory serves, Bill Perry said QCDs are also going to be indicated on 1099s from brokers. Those new additions, at least, are welcome.
Thanks, Rick. Great service!
Thanks to all who have read and commented. Here is the link to the IRS’ Draft Tax Form site. There are almost 7 pages of draft forms released since the signing of the OBBBA.
Thanks, Rick. Given that many of us on HD are seniors I thought I would add the link to the draft of 1040-SR.
https://www.irs.gov/pub/irs-dft/f1040s–dft.pdf
thanks
Thanks, Rick. I see there’s now a check box for QCDs. And if memory serves, Bill Perry said QCDs are also going to be indicated on 1099s from brokers. Those new additions, at least, are welcome.