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  1. #1

    Default What to Do if Your Tax Exemptions Exceed Your Adjusted Gross Income

    What do I enter on line 41 of 1040 Individual Income Tax Form if line 40 is more than line 38?

  2. #2
    Join Date
    Oct 2014
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    7,169

    Default Re: 1040 Tax Form

    Quote Quoting tcream
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    What do I enter on line 41 of 1040 Individual Income Tax Form if line 40 is more than line 38?
    You enter the result, i.e. the negative number. So, for example, if line 38 was $10,000 and line 40 is $15,000 you’d enter -5,000. You’ll note that when line 41 is less than your exemptions the result will be zero anyway when you get to line 43 (taxable income).

  3. #3

    Default Re: 1040 Tax Form

    Thank you for responding and yes I did enter line 43 as zero.

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