1040 Income Tax Cheat Sheet

A few years ago, I posted on Instagram about doing my students' taxes. All of my seniors, most of whom have after school jobs, learned how to file a 1040 income tax return in our consumer math class. 

Still, some feel nervous about doing the "real thing". The idea that my students aren't getting their tax refunds because the process is so confusing really bothers me. I'm glad the IRS seems to be making some changes, like allowing some of us to file free online. Still, filing taxes can be overwhelming, so I wanted to make the process easier with a simple 1-page 1040 cheat sheet. 

I update it every January so it stays current.

Can dependents file their own taxes?

Yes! Being listed as a dependent on someone else's tax return does not prevent the dependent from filing their own 1040 and getting a refund of any tax overpayment. Parents can still claim their child as a dependent if the child files their own income tax return. The IRS publishes this Standard Deduction Worksheet for Dependents every year with directions for dependents filing income tax returns. Calculations from this worksheet are included on the 1040 cheat sheet linked here.

During our income taxes unit, we learn how to file a federal 1040 tax return to move past the paperwork intimidation. I want my students to be comfortable filing their taxes so that they get the money back that they are owed. 

Even figuring out Turbo Tax was enough to deter one student from getting his tax refund two years in a row! He was owed close to $1,000 by the time we did his federal and state returns for both years.

It is important to me to teach my students how to file their taxes with a 1040. This way they are empowered to get their refunds without paying anyone to do their taxes for them. My students deserve to get their money back. 

On this 1040 income tax cheat sheet, I focused solely on the lines of a 1040 that students need to fill out in order to get their refund. I made this sheet for students, parents and teachers who want to help their kids get their money back. 

Here is a 1040 video tutorial that walks through filling out a 1040 tax form for a dependent. It covers the needed forms, the information that goes on each line of the 1040, and how to use the 1040 cheat sheet. 

Consumer Math Activities Bundle

I think all kids should know at least the basics about paying taxes, balancing a checkbook, finding sale prices and tips, so I made a set of Consumer Math activities that teach these skills. 

>> The 1040 cheat sheet is free here. It's been updated for the April 2025 tax season.

If you are teaching a financial literacy course, I have an 18-unit consumer math curriculum available here. 

More financial literacy posts:

Fun activities for teaching teens financial literacy

Scaffolded Consumer Math Curriculum

Math Cheat Sheets

High School Consumer Math Facebook Group