Doctored Money Blog

Doing resident taxes for the first time? See our newly updated "Taxes for Interns" Page!

What’s a 1040?

If you graduated medical school in 2018, this is likely the first time you have any substantial income. Of course “substantial” is certainly relative! You’ve gotten your required tax documents in the mail by now and it’s time to do your taxes. Not-so-coincidentally, we’ve updated the Taxes for Interns section of our website to reflect the brand new tax forms for 2018, created by the new tax law which went into effect on Jan 1, 2018. We won’t comment on whether the new forms are actually “simpler” or not. Let’s just say, they are certainly “different”.

 

Lot’s of learning is available!

The page will walk you through a typical set of taxes relevant to most interns. There is a sample set of taxes to follow along with. What fun! We point out which tax items/lines may apply to you (so you don’t miss possible deductions and credits). There are also numerous links to other information/education pages about tax issues which you should certainly be learning about. Whether you prepare your taxes yourself (it’s easy!) or hire a tax-preparer, it is YOUR responsibility to understand taxes and to certify your taxes as correctly prepared.

 

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