09/08/2026
Can you explain HOW a tax return actually gets from income to a refund or balance due? 👀
Once you understand the basic 1040 formula, so many other pieces of tax preparation start making sense.
Income ➡️ AGI ➡️ Taxable Income ➡️ Tax ➡️ Credits & Payments ➡️ Refund or Balance Due
This is why I say: don't just memorize where to enter numbers. Understand what those numbers are doing to the return.
That's how we build confidence beyond the software. 🎓
#1040