IRS Announces Large Print Form 1040-SR for Seniors

2020-02-05

The Bipartisan Budget Act of 2018 required the IRS to create a tax form for seniors. Taxpayers age 65 or older now have the option to use Form 1040-SR , U.S. Tax Return for Seniors. Form 1040-SR, when printed, features larger font and better readability. Seniors can use the new form to file their 2019 federal income tax return, which is due April 15, 2020.

All lines and checkboxes on Form 1040-SR mirror the Form 1040, and both forms use all the same attached schedules and forms. The revised 2019 instructions (https://www.irs.gov/pub/irs-pdf/i1040gi.pdf) cover both Forms 1040 and 1040-SR. Both the 1040 and the 1040-SR use the same “building block” approach introduced last year that can be supplemented with additional Schedules 1, 2 and 3 as needed.

Taxpayers born before January 2, 1955, have the option to file Form 1040-SR whether they are working, not working or retired, and whether they plan to itemize or take the standard deduction.

Form 1040-SR allows income reporting from other sources common to seniors, including investment income, Social Security and distributions from qualified retirement plans. Married taxpayers filing a joint return can use the Form 1040-SR regardless of whether one or both spouses are aged 65 or older or retired.