[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-308501-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-308501-en":127},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","form-1040-2020-tax-one-sheet-tax-deduction-summary","Form 1040 (2020) Tax One-Sheet - Tax Deduction Summary","","Form 1040 (2020) one-sheet content summarizes key tax items, including eligibility for the 20% small business deduction and related income thresholds for tax years 2020 and 2021. It outlines standard deduction and filing considerations, dependents and age/blindness rules, and the major income and adjustment lines. Guidance indicates attachments such as Schedule B, Schedule D, and Form(s) W-2 when required, and notes disclosure and paperwork notices.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/forms/","Forms",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/form-1040-2020-tax-one-sheet-tax-deduction-summary/308501/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/form-1040-2020-tax-one-sheet-tax-deduction-summary/308501.png","ImageObject",442,249,{"name":42,"@type":43},"Aurora","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-23","2026-09-20",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",9,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"Who is eligible for the 20% small business deduction on this one-sheet?","Question",{"text":63,"@type":64},"Owners of pass-through entities are eligible for the up to 20 percent small business deduction, subject to taxable income thresholds for 2020 and 2021.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How do age and blindness affect dependent eligibility?",{"text":68,"@type":64},"The one-sheet states that the taxpayer and spouse must have relevant birth dates (before January 2, 1956) and/or meet blindness criteria to qualify under the listed age/blindness rules.",{"name":70,"@type":61,"acceptedAnswer":71},"What attachments does the one-sheet indicate may be required?",{"text":72,"@type":64},"It instructs to attach Schedule B if required, Schedule D if required for capital gains or (loss), and to attach Form(s) W-2 for wages, salaries, and tips. It also references additional forms for deductions such as Form 8995 or 8995-A for qualified business income.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},308501,1790215479,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,104,109,113,118,123],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":100,"doc_module":22,"doc_module_name":25,"category_name":101,"show_sort_weight":102,"slug":103},15,"Posters",60,"posters",{"id":105,"doc_module":22,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},16,"Social Media",50,"social-media",{"id":110,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":111,"slug":112},17,40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":115,"show_sort_weight":116,"slug":117},18,"Letters",30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":125,"show_sort_weight":4,"slug":126},158,"General","general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":110,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":22,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":4},4810365810221,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","The 20% Small Business Deduction  \nStandard Deduction  \nSomeone can claim:  You as a dependent  Your spouse as a dependent  \n  Spouse itemizes on a separate return or you were a dual-status alien   \nAge/Blindness You:  Were born before January 2, 1956  Are blind Spouse:  Was born before January 2, 1956  Is blind  \n\n| Dependents (see instructions):\u003Cbr>If more\u003Cbr>than four dependents, see instructions and check here a \u003Cbr>(1) First name Last name\u003Cbr>\u003Cbr>| (2) Social security\u003Cbr>number |  |  | (3) Relationship\u003Cbr>to you | (4) 􀀕 if qualifies for (see instructions):\u003Cbr>Child tax credit  Credit for other dependents |  |  |  |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n|  |  |  |  |  | |  | |  |\n|  |  |  |  |  | |  | |  |\n|  |  |  |  |  | |  | |  |\n|  |  |  |  |  | |  | |  |\n| Attach Sch. B if\u003Cbr>required.\u003Cbr>1\u003Cbr>\u003Cbr>4a\u003Cbr>\u003Cbr>5a\u003Cbr>\u003Cbr>Wages, salaries, tips, etc. Attach Form(s) W-2 . . . . . . . . . . . . . . . .\u003Cbr>Tax-exempt interest . . . b Taxable interest . . . . .\u003Cbr>Qualified dividends . . . b Ordinary dividends . . . . .\u003Cbr>IRA distributions . . . . b Taxable amount . . . . . .\u003Cbr>Pensions and annuities . . b Taxable amount . . . . . .\u003Cbr>Social security benefits . . b Taxable amount . . . . . .\u003Cbr>Capital gain or (loss) . Attach Schedule D if required. If not required, check here . . . . a  Other income from Schedule 1, line 9 . . . . . . . . . . . . . . . . . . . Add lines 1, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income . . . . . . . . . a\u003Cbr>2a 3a 4a 5a 6a\u003Cbr>Adjustments to income:\u003Cbr>From Schedule 1, line 22 . . . . . . . . . . . . . . Charitable contributions if you take the standard deduction. See instructions\u003Cbr>10a 10b\u003Cbr>Add lines 10a and 10b. These are your total adjustments to income . . . . . . . . a Subtract line 10c from line 9. This is your adjusted gross income . . . . . . . . . a Standard deduction or itemized deductions (from Schedule A) . . . . . . . . . .\u003Cbr>Qualified business income deduction Attach Form 8995 or Form 8995-A\u003Cbr>. . . . . . . . .\u003Cbr>Add lines 12 and 13 . . . . . . . . . . . . . . . . . . . . . . . . Taxable income. Subtract line 14 from line 11. If zero or less, enter-0- . . . . . . . . . |  |  |  |  |  | 1 |  |  |\n|  |  |  |  |  |  | 2b |  |  |\n|  |  |  |  |  |  | 3b |  |  |\n|  |  |  |  |  |  | 4b |  |  |\n|  |  |  |  |  |  | 5b |  |  |\n|  |  |  |  |  |  | 6b |  |  |\n|  |  |  |  |  |  | 7 |  |  |\n|  |  |  |  |  |  | 8 |  |  |\n|  |  |  |  |  |  | 9 |  |  |\n|  |  |  |  |  |  |  |  |  |\n|  |  |  |  |  |  | 10c |  |  |\n|  |  |  |  |  |  | 11 |  |  |\n|  |  |  |  |  |  | 12 |  |  |\n|  |  |  |  |  |  | 13 |  |  |\n|  |  |  |  |  |  | 14 |  |  |\n|  |  |  |  |  |  | 15 |  |  |\n\nFor Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2020)  \nWHO BENEFITS?  \nOwners of pass-through entities, regardless of industry, are eligible for up to 20 percent small business deduction up to $163,300 individual/$326,600 joint in taxable income for tax year 2020. For tax year 2021, these thresholds will increase to $164,900 individual/$329,800 joint. For incomes above these thresholds, businesses may also be eligible for a deduction.  \nLearn More and Take Action At  \n[NFIB.com/taxrelief](NFIB.com/taxrelief)","cbCaidimRVS9UUff","https://ap.wps.com/l/cbCaidimRVS9UUff","pdf",308577,"English","# Tax deduction overview\n## Who benefits and eligibility thresholds\n## Dependents and filing conditions\n## Income lines and required attachments\n## Deductions and taxable income calculation","[{\"question\":\"Who is eligible for the 20% small business deduction on this one-sheet?\",\"answer\":\"Owners of pass-through entities are eligible for the up to 20 percent small business deduction, subject to taxable income thresholds for 2020 and 2021.\"},{\"question\":\"How do age and blindness affect dependent eligibility?\",\"answer\":\"The one-sheet states that the taxpayer and spouse must have relevant birth dates (before January 2, 1956) and/or meet blindness criteria to qualify under the listed age/blindness rules.\"},{\"question\":\"What attachments does the one-sheet indicate may be required?\",\"answer\":\"It instructs to attach Schedule B if required, Schedule D if required for capital gains or (loss), and to attach Form(s) W-2 for wages, salaries, and tips. It also references additional forms for deductions such as Form 8995 or 8995-A for qualified business income.\"}]","Form 1040 (2020) Tax One-Sheet - Tax Deduction Summary | PDF",1789869245]