Form 1040 Amount is a term used in the United States to refer to the total amount of INCOME reported on an individual's federal INCOME tax return. The Form 1040 Amount is reported on the Form 1040, which is the standard form used by individuals to file their taxes with the Internal Revenue Service (IRS). The Form 1040 Amount is calculated by subtracting any deductions and credits from the total INCOME reported on the form. The Form 1040 Amount is then used to determine the amount of taxes owed or refunded to the taxpayer.