Question

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

Answer 1

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.

Read more about Form 1040

brainly.com/question/4120733