The National Directory of Certified Public Accountants

Ask A CPA - Taxes - My Tax Return

Form 1040 - What Line Is My Taxable Income?

On Form 1040, your income tax liability is calculated on your "Taxable Income". Taxable Income is your Adjusted Gross Income, minus either your (itemized or standard deduction) minus the deduction for your personal exemptions. In 2011 it is located on IRS Form 1040 line 43.

If you need professional help with "Taxes - My Tax Return" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.