Form 1040 SR: Step-by-Step Guide for Seniors

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Any taxpayer over 65 years old or more who lives in the US has to report their senior tax return to the IRS. To do it properly, knowing how to fill out a 1040 SR tax form is indispensable. As it might seem somewhat complicated for a senior to complete this document, we decided to share a comprehensive guide to help you out.

What Is Form 1040 SR?

If you heard of the standard Form 1040 used to report a tax return to the IRS (International Revenue Service) but couldn’t use it because of some health problems or poor eyesight that you have at 65, there is good news for you. Since 2019, senior taxpayers could have used the US Tax Return for Seniors or the 1040-SR form. It came after the Bipartisan Budget Act (or BBA) was conducted in 2018. This document features a larger print, broader spaces, and a visible standard deduction chart, which makes it easier for senior Americans to fill it out. Except for the elderly, younger people who have a spouse of 65 or older and apply for a joint tax return may also use this form.

The 1040SR form includes data on the income a senior US resident gained throughout the year. This document has ceased income categories and tests, so it is simpler to navigate for an elderly person.

How to Fill Out 1040 SR Form

To complete this form, you can either visit an official IRS website or use an alternative service on the Web. Many senior taxpayers prefer the second method, as other dedicated platforms such as PDFLiner can provide even more focused guidelines, with all the instructions explained step by step. Here, we have a brief algorithm on how you can do it via PDFLiner; other services might require some specific steps on your behalf.

Step 1: Provide your income-related data on page 1

Start with defining your filing status. If you file a joint tax return with your spouse, include their SSN as well. Complete the “Standard Deduction” field by ticking the boxes that refer to you. Enlist the sources of your income and calculate the total in Line 9.

Step 2: Calculate federal taxes on page 2

In Line 15, calculate your actual taxable income by subtracting Line 14 from Line 11. Then, you have two options:

  • Hired employers have to enter the federal tax withheld from their W-2 form in Line 25-a.
  • Independent contractors must indicate the federal tax withheld from their clients’ payments and attach copies of their 1099 form in Line 25-b.

Step 3: Sign the form on page 3

Ensure that your total payments indicated in Line 33 exceed the tax sum stated in Line 24. In this case, write down the amount and your account or routing number in Line 35. Otherwise, put the sum in Line 37. Now you have to e-sign your tax return for seniors to verify it. You have to do it by yourself even if someone helped you to file the return under the TCE program.

Step 4: Provide the number of ticked boxes on page 4

Finally, you have to specify the number of ticked boxes in the “Age/Blindness” field you have chosen to find out your tax deduction.

How to Sign IRS Tax Form 1040 SR

If you are used to signing your documents with a pen and paper, you might want to overlook this approach. E-signature, officially recognized by the IRS, can help you reduce paperwork and save a lot of precious time and energy. Even if you aren’t a tech gig, there’s nothing complicated in signing the 1040 SR form online. With PDFLiner, the procedure becomes even more straightforward.

Step 1: Open the ready form template on the platform and launch an online editor where you can fill in the fields with your financial data. You can also upload the already-filled form and e-sign it.

Step 2: Now you can generate a new signature. Go to the third page and find a “Sign Field.” Click on it, and the “Signature Wizard” will pop up.

Step 3: With this smart tool, you can choose the way you want to create your electronic signature:

  • type in your name to have your signature in handwritten format;
  • draw it with your mouse;
  • attach an existing image of your e-signature;
  • take a picture using your device’s camera.

Step 4: Now tap the “Sign” button and enjoy seeing your signature in the “Sign Field.”

Step 5: Save your doc by pressing the “Done” button. Pick the saving way that suits your needs.

1040 SR: File It With Senior Experience

Now that you have familiarized yourself with the concise guide above, you can see that filling out this tax form is not as challenging as it could seem at first. Moreover, there are a lot of handy attributes the IRS has added for your convenience. Use specialized, trustable Web software and complete this document in a single sitting.

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