Step 1: Recall basic memory units.
In computer memory, data storage units increase in powers of 1024.
Step 2: Use the standard conversion.
\[
1 \text{ MB} = 1024 \text{ KB}
\]
Step 3: Apply the given value.
Since 1024 KB is given, it is equal to 1 MB.
Step 4: Conclusion.
Therefore, 1024 Kilobytes is equal to 1 Megabyte.