Form 1040

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This is the basic federal tax form for anyone who has taxable income of over $100,000 a year (for 2010, tax returns), self-employment income, or income from the sale of property. It is the form you must use if you want to itemize specific tax deductions or certain tax credits. Form 1040 should also be used if you have certain types of income, such as unreported tips. (The full list of circumstances when you must use Form 1040 is lengthy.) There are two tax forms that are simpler to use if you qualify to use them: Form 1040A and the most simple of all, Form 1040EZ.