Form 1040-SR, U.S. Tax Return for Seniors, was introduced for the 2019 tax year. The form generally mirrors Form 1040.
This two-page Form 1040-SR uses a bigger font than the standard Form 1040 to be easier for aging eyes to read and includes a prominently displayed chart for calculating taxpayers’ standard deduction.
To use the 1040-SR:
- At least one taxpayer needs to be 65.
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They don't have to be retired.
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They may use either the standard or itemized deductions.
The 1040-SR form is a result of the Bipartisan Budget Act that was signed into law on February 9, 2018. It was designed to provide seniors a simpler tax return than the 1040 yet include Social Security and Pension/Annuity Income on the return (unlike the former 1040EZ form).
The 1040-SR still allows taxpayers to claim Earned Income Credit, Child Tax Credit, and Qualified Business Income Deductions.
To view the 1040-SR, please click here.
The TaxSlayer program will automatically create the 1040-SR if available to the individual or couple for use.