What is schedule h?

Schedule H is a form that is used to report certain income sources on an individual's federal income tax return in the United States. It is typically used by taxpayers who receive income from sources such as the sale of a primary residence, gambling winnings, unemployment compensation, or rental income from a property.

This form is used to report income that is not typically reported on other forms, such as wages or salaries. By filling out Schedule H, taxpayers can accurately report their income and pay the appropriate amount of taxes owed to the government.

Schedule H may also be used to report certain deductions or credits that a taxpayer may be eligible for, such as the deduction for student loan interest or the earned income tax credit.

It is important for taxpayers to accurately complete Schedule H to avoid penalties or audits from the IRS. If a taxpayer is unsure about how to fill out this form, they may want to consult with a tax professional for guidance.