Schedule II is used to report additional taxes not directly included on the Personal 1040 tax form. These taxes include certain self-employment taxes and any excess advance premium tax credit repayments.
These are expenses the IRS allows you to deduct to get to your adjusted gross income (AGI).
Common deductions here are the deductible part of self-employment taxes (check out Schedule SE), retirement contributions, penalties on early withdrawal of retirement funds, educator expenses, and student loan interest.
These also are taken from tax documents uploaded so if you want those deductions, you need to share all documents!
Part I Tax
Verify your name and social security number.
Part II Other Taxes
Line 4: Self-employment tax. Attach Schedule SE
Line 8: Additional tax on IRAs or other tax-favored accounts.
Part III Other Taxes (continued)
Line 21: The totals flow onto page 1 of Form 1040 line 10