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Idaho Power Company
I.P.U.C. No. 29, Tariff No. 101Third Revised Sheet No. 721
Cancels
Second Revised Sheet No. 721IDAHO PUBLIC UTILITIES COMMISSION
Approved
Effective
May 21, 2018,
June 1, 2018,
Per
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To fill out Schedule No. 1, follow these steps:
02
Begin by entering your personal details, such as your name, address, and Social Security number.
03
Provide information about your employment, including your employer's name, address, and EIN (Employer Identification Number).
04
Indicate the type of income you received, such as wages, salary, or self-employment income.
05
Enter the total amount of income you earned during the tax year.
06
If applicable, report any deductions or adjustments to income.
07
Calculate your total taxable income by subtracting any deductions or adjustments from your total income.
08
Determine your tax liability based on the tax rates provided by the IRS.
09
If you have any tax credits, enter the amount and subtract it from your tax liability.
10
Finally, calculate your net tax due or refund by subtracting your tax credits from your tax liability.
11
Review your completed Schedule No. 1 for accuracy before submitting it with your tax return.
Who needs schedule no 1?
01
Schedule No. 1 is needed by taxpayers who have additional sources of income or deductions that cannot be reported directly on the main tax form.
02
It is used to report additional income or adjustments to income, such as business income, rental income, or deductions for self-employment taxes.
03
Individuals who have received certain types of income, such as gambling winnings or unemployment compensation, may also need to complete Schedule No. 1.
04
Additionally, taxpayers who qualify for certain tax credits or owe alternative minimum tax (AMT) may be required to include Schedule No. 1 with their tax return.
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What is schedule no 1?
Schedule no 1 is a form used to report additional income such as capital gains, unemployment compensation, prize or award money, and gambling winnings.
Who is required to file schedule no 1?
Taxpayers who have additional income to report are required to file schedule no 1 along with their tax return.
How to fill out schedule no 1?
To fill out schedule no 1, you will need to enter the type and amount of additional income you received during the tax year. Make sure to follow the instructions provided by the IRS.
What is the purpose of schedule no 1?
The purpose of schedule no 1 is to ensure that all sources of income are properly reported to the IRS, helping the taxpayer avoid underreporting or tax evasion.
What information must be reported on schedule no 1?
On schedule no 1, you must report details of additional income such as capital gains, unemployment compensation, prize or award money, and gambling winnings.
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