The 1040 form is a basic income tax form used to report income and calculate taxes owed to the Internal Revenue Service (IRS). On the 1040 form, individuals must report their gross income, such as wages, salaries, tips, self-employment income, Social Security benefits, pensions, dividends, interest, capital gains, alimony, rental income, unemployment compensation, and other sources of income. The form also requires taxpayers to report their deductions, such as charitable donations, mortgage interest, medical expenses, business expenses, and other itemized deductions. In addition, taxpayers must report any credits they are eligible for, such as the Earned Income Credit, the Child Tax Credit, or the American Opportunity Credit. Finally, taxpayers must sign the form and provide their Social Security number.