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This version of the form is not currently in use and is provided for reference only. Download this version of
Form IT-40 (State Form 53995) Schedule 1
for the current year.
Form IT-40 (State Form 53995) Schedule 1 Add-Backs - Indiana
What Is Form IT-40 (State Form 53995) Schedule 1?
This is a legal form that was released by the Indiana Department of Revenue - a government authority operating within Indiana.The document is a supplement to Form IT-40, Indiana Full-Year Resident Individual Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form IT-40?
A: Form IT-40 is a tax form used by residents of Indiana to file their state income taxes.
Q: What is Schedule 1 Add-Backs?
A: Schedule 1 Add-Backs is a part of Form IT-40 that allows taxpayers in Indiana to report certain deductions that are not allowed for state tax purposes.
Q: What are add-backs?
A: Add-backs refer to deductions that you must add back to your Indiana state income for tax purposes because they are not allowed.
Q: Why do I need to report add-backs on Schedule 1?
A: You need to report add-backs on Schedule 1 to comply with Indiana state tax laws and accurately calculate your taxable income.
Q: What are some examples of add-backs?
A: Some examples of add-backs include certain federal deductions, depreciation expenses, and certain losses.
Q: When is the deadline to file Form IT-40 and Schedule 1 Add-Backs?
A: The deadline to file Form IT-40 and Schedule 1 Add-Backs is typically April 15th, unless an extension has been granted.
Q: Do I need to file Schedule 1 Add-Backs if I don't have any add-backs to report?
A: No, if you don't have any add-backs to report, you do not need to file Schedule 1 Add-Backs.
Q: Can I e-file Form IT-40 and Schedule 1 Add-Backs?
A: Yes, you can e-file Form IT-40 and Schedule 1 Add-Backs if you prefer electronic filing.
Q: Can I file Form IT-40 and Schedule 1 Add-Backs by mail?
A: Yes, you can file Form IT-40 and Schedule 1 Add-Backs by mail if you prefer to submit a paper return.
Form Details:
- Released on September 1, 2021;
- The latest edition provided by the Indiana Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form IT-40 (State Form 53995) Schedule 1 by clicking the link below or browse more documents and templates provided by the Indiana Department of Revenue.
