Schedule 1 (Form 1040), lines 8z and 24z will be used to report other ____________ that do not have their own designated line.

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11-01-2022
Business

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Schedule 1 (Form 1040), lines 8z and 24z will be used to report other ____________ that do not have their own designated line.

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Tundexi Tundexi · Answer 1 · 2022-01-18T13:12:28+01:00

The lines 8z & 24z in Schedule 1 (Form 1040) are used to report other Income and adjustments that do not have their own designated line.

What is Form 1040?

The Form 1040 is a tax document used by taxpayers to file an annual income tax return.

In the schedule form 1040, the line 8 report other incomes like:

net operating loss
gambling income
cancellation of debt
jury duty
pay prize

In the schedule form 1040, the line 24 report other adjustments like:

housing deduction
attorney fees etc

In conclusion, the lines 8z & 24z in Schedule 1 (Form 1040) are used to report other Income and adjustments that do not have their own designated line.