Rev. January 2024
Form 1040-C is a tax form used by nonresident aliens and certain other individuals to report their U.S. income to the Internal Revenue Service (IRS). It includes instructions for calculating taxable income, tax, alternative minimum tax (AMT), and credits. There are different versions of Form 1040-C depending on the individual's immigration status and income sources.
Group I has a tax rate of 20% and 25%, while Group II has a tax rate of 10%, 15%, 25%, 32%, 35%, or 37% depending on the amount of income.
For Group I, focus on lines 3 and 9. For Group II, focus on lines 5a, 6a, 7a, 8a, 9a, 12, 14, 16, 18, and 20.
Form 1040-C is used to figure the tax on certain types of income reported on Schedule D (Forms 1040, 1040-SR, or 1065) and to figure the Alternative Minimum Tax (AMT) for individuals, estates and trusts.
Taxpayers who have income reported on Schedule D (Forms 1040, 1040-SR, or 1065) that is subject to the tax computations shown in Form 1040-C must file this form.
Form 1040-C has two types of filers: Group I - Married Filing Joint Return and Qualifying Surviving Spouse, and Group II - Married Filing Separate Returns.
Form 1040-C is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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