Schedule A


DEFINITION of 'Schedule A'

A U.S. income tax form used by taxpayers to report itemized deductions, which can help reduce an individual's federal tax liability. Expenses that can be itemized and claimed on the form include medical and dental expenses, amounts paid for particular taxes and interest expenses as well as specific losses due to theft.


In the U.S. income tax system, taxpayers have the option of either claiming a standard deduction on their tax returns, or itemizing their expenses and claiming the total itemized deductions. Only taxpayers whose total itemized deductions are greater than the standard deduction will select this option.

  1. IRS Publication 600

    A document published by the Internal Revenue Service (IRS) that ...
  2. Income Tax

    A tax that governments impose on financial income generated by ...
  3. Tax Schedule

    A rate sheet used by individual taxpayers to determine their ...
  4. Itemized Deduction

    A deduction from a taxpayer's taxable adjusted gross income that ...
  5. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  6. Standard Deduction

    A base amount of income that is not subject to tax and that can ...
Related Articles
  1. Home & Auto

    Calculating The Mortgage Interest Tax Deduction

    The amount of money you save by paying your mortgage off quickly will far exceed any benefit from the mortgage interest tax deduction.
  2. Retirement

    Tax Tips For The Individual Investor

    We give you seven guidelines to help you keep more of your money in your pocket.
  3. Retirement

    Avoiding Too Much Tax On Your Distributions

    IRA assets can't be taxed twice - find out how to avoid paying the second time around.
  4. Options & Futures

    Deciphering Deferred Annuity Designations

    Tax deferred annuities can be complex arrangements. Discover some of the situations that arise when an owner or annuitant dies and how to reduce tax liability if you're the beneficiary.
  5. Taxes

    How To Cut Your Alternative Minimum Tax

    Save yourself money by lowering the amount of tax you owe.
  6. Taxes

    How & Where to File Form 1040 (And Which Version)

    All taxpayers need to know three things when filing a 1040: which form to use, how to file and where to file. After reading this, you'll know all three.
  7. Taxes

    The Purpose Of The W-9 Form

    The W-9 form provides key data your clients need if you're an independent contractor. Just be sure you're not really an employee who should fill out a W-4.
  8. Taxes

    2016 Tax Code Changes Add Some Wiggle Room

    It's never too early to prepare for tax season. Next year features a host of tax law changes. Check our handy list to see which ones apply to you.
  9. Taxes

    Why Your Tax Bracket Is Not the Tax Rate You Pay

    Understanding how federal and state tax brackets work is important for tax planning – and for making sense of the political conversation around tax reform.
  10. Taxes

    Always Keep These Tax Documents

    It's tempting to ditch them. But make a practice of this very specific group of tax papers. It can save headaches and pay off in tax savings.
  1. What are Schedule K-1 documents used for?

    The Schedule K-1 is a tax document issued for an investment in partnership interests. The purpose of the Schedule K-1 is ... Read Full Answer >>
  2. Do tax brackets include Social Security?

    A portion of your Social Security benefits may be subject to federal taxation using tax brackets. Your tax bracket is determined ... Read Full Answer >>
  3. Can the IRS take your house?

    The Internal Revenue Service (IRS) is an agency in the United States that enforces the collection of personal and corporate ... Read Full Answer >>
  4. Can the IRS garnish your tax refund?

    Federal law states that only state and federal agencies, such as the Internal Revenue Service (IRS), are allowed to garnish ... Read Full Answer >>
  5. How can I file a complaint to the IRS?

    Depending on the type of complaint, the Internal Revenue Service (IRS) requires a person to fill out the applicable form ... Read Full Answer >>
  6. What are some of the arguments against a value added tax (VAT)?

    Critics of the value-added tax, or VAT, system say that not only is it costlier to implement compared to the ad valorem system, ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Take A Bath

    A slang term referring to the situation of an investor who has experienced a large loss from an investment or speculative ...
  2. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
  3. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  4. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  5. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  6. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
Trading Center