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• How To Use Your Income Tax 2018
• What’s New for 2017
• Key Tax Numbers for 2017
• Part 1 Filing Basics
• Do You Have to File a 2017 Tax Return?
• Filing Tests for Dependents: 2017 Returns
• Where to File Your 2017 Return
• Filing Deadlines (on or before)
• Which Tax Form Should You File?
• Chapter 1 Filing Status
• 1.1 Which Filing Status Should You Use?
• 1.2 Tax Rates Based on Filing Status
• 1.3 Filing Separately Instead of Jointly
• 1.4 Filing a Joint Return
• 1.5 Nonresident Alien Spouse
• 1.6 Community Property Rules
• 1.7 Innocent Spouse Rules
• 1.8 Separate Liability Relief for Former Spouses
• 1.9 Equitable Relief
• 1.10 Death of Your Spouse in 2017
• 1.11 Qualifying Widow/Widower Status for 2017 If Your Spouse Died in 2016 or 2015
• 1.12 Qualifying as Head of Household
• 1.13 Filing for Your Child
• 1.14 Return for Deceased
• 1.15 Return for an Incompetent Person
• 1.16 How a Nonresident Alien Is Taxed
• 1.17 How a Resident Alien Is Taxed
• 1.18 Who Is a Resident Alien?
• 1.19 Certificate of Tax Compliance for Alien Leaving the United States
• 1.20 Expatriation Tax
• Part 2 Reporting Your Income
• Chapter 2 Wages, Salary, and Other Compensation
• 2.1 Salary and Wage Income
• 2.2 Constructive Receipt of Year-End Paychecks
• 2.3 Pay Received in Property Is Taxed
• 2.4 Commissions Taxable When Credited
• 2.5 Unemployment Benefits
• 2.6 Strike Pay Benefits and Penalties
• 2.7 Nonqualified Deferred Compensation
• 2.8 Did You Return Wages Received in a Prior Year?
• 2.9 Waiver of Executor’s and Trustee’s Commissions
• 2.10 Life Insurance Benefits
• 2.11 Educational Benefits for Employees’ Children
• 2.12 Sick Pay Is Taxable
• 2.13 Workers’ Compensation Is Tax Free
• 2.14 Disability Pay and Pensions
• 2.15 Stock Appreciation Rights (SARs)
• 2.16 Stock Options
• 2.17 Restricted Stock
• Chapter 3 Fringe Benefits
• 3.1 Tax-Free Health and Accident Coverage Under Employer Plans
• 3.2 Health Savings Accounts (HSAs) and Archer MSAs
• 3.3 Reimbursements and Other Tax-Free Payments From Employer Health and Accident Plans
• 3.4 Group-Term Life Insurance Premiums
• 3.5 Dependent Care Assistance
• 3.6 Adoption Benefits
• 3.7 Education Assistance Plans
• 3.8 Company Cars, Parking, and Transit Passes
• 3.9 Working Condition Fringe Benefits
• 3.10 De Minimis Fringe Benefits
• 3.11 Employer-Provided Retirement Advice
• 3.12 Employee Achievement Awards
• 3.13 Employer-Furnished Meals or Lodging
• 3.14 Minister’s Housing or Housing Allowance
• 3.15 Cafeteria Plans Provide Choice of Benefits
• 3.16 Flexible Spending Arrangements
• 3.17 Company Services Provided at No Additional Cost
• 3.18 Discounts on Company Products or Services
• Chapter 4 Dividend and Interest Income
• 4.1 Reporting Dividends and Mutual Fund Distributions
• 4.2 Qualified Corporate Dividends Taxed at Favorable Capital Gain Rates
• 4.3 Dividends From a Partnership, S Corporation, Estate, or Trust
• 4.4 Real Estate Investment Trust (REIT) Dividends
• 4.5 Taxable Dividends of Earnings and Profits
• 4.6 Stock Dividends on Common Stock
• 4.7 Dividends Paid in Property
• 4.8 Taxable Stock Dividends
• 4.9 Who Reports the Dividends
• 4.10 Year Dividends Are Reported
• 4.11 Distribution Not Out of Earnings: Return of Capital
• 4.12 Reporting Interest on Your Tax Return
• 4.13 Interest on Frozen Accounts Not Taxed
• 4.14 Interest Income on Debts Owed to You
• 4.15 Reporting Interest on Bonds Bought or Sold
• 4.16 Forfeiture of Interest on Premature Withdrawals
• 4.17 Amortization of Bond Premium
• 4.18 Discount on Bonds
• 4.19 Reporting Original Issue Discount on Your Return
• 4.20 Reporting Income on Market Discount Bonds
• 4.21 Discount on Short-Term Obligations
• 4.22 Stripped Coupon Bonds and Stock
• 4.23 Sale or Retirement of Bonds and Notes
• 4.24 State and City Interest Generally Tax Exempt
• 4.25 Taxable State and City Interest
• 4.26 Tax-Exempt Bonds Bought at a Discount
• 4.27 Treasury Bills, Notes, and Bonds
• 4.28 Interest on United States Savings Bonds
• 4.29 Deferring United States Savings Bond Interest
• 4.30 Minimum Interest Rules
• 4.31 Interest-Free or Below-Market-Interest Loans
• 4.32 Minimum Interest on Seller-Financed Sales
• Chapter 5 Reporting Property Sales
• 5.1 General Tax Rules for Property Sales
• 5.2 How Property Sales Are Classified and Taxed
• 5.3 Capital Gains Rates and Holding Periods
• 5.4 Capital Losses and Carryovers
• 5.5 Capital Losses of Married Couples
• 5.6 Losses May Be Disallowed on Sales to Related Persons
• 5.7 Deferring or Excluding Gain on Sale of Small Business Stock Investment
• 5.8 Reporting Capital Asset Sales on Form 8949 and on Schedule D
• 5.9 Counting the Months in Your Holding Period
• 5.10 Holding Period for Securities
• 5.11 Holding Period for Real Estate
• 5.12 Holding Period: Gifts, Inheritances, and Other Property
• 5.13 Calculating Gain or Loss
• 5.14 Amount Realized Is the Total Selling Price
• 5.15 Finding Your Cost
• 5.16 Unadjusted Basis of Your Property
• 5.17 Basis of Property You Inherited or Received as a Gift
• 5.18 Joint Tenancy Basis Rules for Surviving Tenants
• 5.19 Allocating Cost Among Several Assets
• 5.20 How To Find Adjusted Basis
• 5.21 Tax Advantage of Installment Sales
• 5.22 Figuring the Taxable Part of Installment Payments
• 5.23 Electing Not To Report on the Installment Method
• 5.24 Restriction on Installment Sales to Relatives
• 5.25 Contingent Payment Sales
• 5.26 Using Escrow and Other Security Arrangements
• 5.27 Minimum Interest on Deferred Payment Sales
• 5.28 Dispositions of Installment Notes
• 5.29 Repossession of Personal Property Sold on Installment
• 5.30 Boot in Like-Kind Exchange Payable in Installments
• 5.31 “Interest” Tax if Sales Price Exceeds $150,000 With Over $5 Million Debt
• 5.32 Worthless Securities
• 5.33 Tax Consequences of Bad Debts
• 5.34 Four Rules To Prove a Bad Debt Deduction
• 5.35 Family Bad Debts
• Chapter 6 Tax-Free Exchanges of Property
• 6.1 Trades of Like-Kind Property
• 6.2 Personal Property Held for Business or Investment
• 6.3 Receipt of Cash and Other Property—“Boot”
• 6.4 Time Limits and Security Arrangements for Deferred Exchanges
• 6.5 Qualified Exchange Accommodation Arrangements (QEAAs) for Reverse Exchanges
• 6.6 Exchanges Between Related Parties
• 6.7 Property Transfers Between Spouses and Ex-Spouses
• 6.8 Tax-Free Exchanges of Stock in Same Corporation
• 6.9 Joint Ownership Interests
• 6.10 Setting up Closely Held Corporations
• 6.11 Exchanges of Coins and Bullion
• 6.12 Tax-Free Exchanges of Insurance Policies
• Chapter 7 Retirement and Annuity Income
• 7.1 Retirement Distributions on Form 1099-R
• 7.2 Lump-Sum Distributions
• 7.3 Lump-Sum Options If You Were Born Before January 2, 1936
• 7.4 Lump-Sum Payments Received by Beneficiary
• 7.5 Tax-Free Rollovers From Qualified Plans
• 7.6 Direct Rollover or Personal Rollover
• 7.7 Rollover of Proceeds From Sale of Property
• 7.8 Distribution of Employer Stock or Other Securities
• 7.9 Survivor Annuity for Spouse
• 7.10 Court Distributions to Former Spouse Under a QDRO
• 7.11 When Retirement Benefits Must Begin
• 7.12 Payouts to Beneficiaries
• 7.13 Penalty for Distributions Before Age 59½
• 7.14 Restrictions on Loans From Company Plans
• 7.15 Tax Benefits of 401(k) Plans
• 7.16 Limit on Salary-Reduction Deferrals
• 7.17 Withdrawals From 401(k) Plans Restricted
• 7.18 Designated Roth Account Within 401(k), 403(b), or Governmental 457 Plans
• 7.19 Annuities for Employees of Tax-Exempts and Schools (403(b) Plans)
• 7.20 Government and Exempt Organization Deferred Pay Plans
• 7.21 Figuring the Taxable Part of Commercial Annuities
• 7.22 Life Expectancy Tables
• 7.23 When You Convert Your Endowment Policy
• 7.24 Reporting Employee Annuities
• 7.25 Simplified Method for Calculating Taxable Employee Annuity
• 7.26 Employee’s Cost in Annuity
• 7.27 Withdrawals From Employer’s Qualified Retirement Plan Before Annuity Starting Date
• Chapter 8 IRAs
• 8.1 Starting a Traditional IRA
• 8.2 Traditional IRA Contributions Must Be Based on Earnings
• 8.3 Contributions to a Traditional IRA If You Are Married
• 8.4 IRA Deduction Restrictions for Active Participants in Employer Plan
• 8.5 Active Participation in Employer Plan
• 8.6 Nondeductible Contributions to Traditional IRAs
• 8.7 Penalty for Excess Contributions to Traditional IRAs
• 8.8 Distributions From Traditional IRAs
• 8.9 Partially Tax-Free Traditional IRA Distributions Allocable to Nondeductible Contributions
• 8.10 Tax-Free Direct Transfer or Rollover From One Traditional IRA to Another
• 8.11 Transfer of Traditional IRA to Spouse at Divorce
• 8.12 Penalty for Traditional IRA Withdrawals Before Age 59½
• 8.13 Mandatory Distributions From a Traditional IRA After Age 70½
• 8.14 Inherited Traditional IRAs
• 8.15 SEP Basics
• 8.16 Salary-Reduction SEP Set Up Before 1997
• 8.17 Who Is Eligible for a SIMPLE IRA?
• 8.18 SIMPLE IRA Contributions and Distributions
• 8.19 Roth IRA Advantages
• 8.20 Annual Contributions to a Roth IRA
• 8.21 Recharacterizing a Traditional IRA Contribution to a Roth IRA and Vice Versa
• 8.22 Converting a Traditional IRA to a Roth IRA
• 8.23 Recharacterizing a Conversion and Reconversions
• 8.24 Distributions From a Roth IRA
• 8.25 Distributions to Roth IRA Beneficiaries
• 8.26 my RA Program Discontinued
• Chapter 9 Income From Real Estate Rentals and Royalties
• 9.1 Reporting Rental Real Estate Income and Expenses
• 9.2 Checklist of Rental Deductions
• 9.3 Distinguishing Between a Repair and an Improvement
• 9.4 Reporting Rents From a Multi-Unit Residence
• 9.5 Depreciation on Converting a Home to Rental Property
• 9.6 Renting a Residence to a Relative
• 9.7 Personal Use and Rental of a Residence During the Year
• 9.8 Counting Personal-Use Days and Rental Days for a Residence
• 9.9 Allocating Expenses of a Residence to Rental Days
• 9.10 IRS May Challenge Loss Claimed on Temporary Rental Before Sale
• 9.11 Reporting Royalty Income
• 9.12 Production Costs of Books and Creative Properties
• 9.13 Deducting the Cost of Patents or Copyrights
• 9.14 Intangible Drilling Costs
• 9.15 Depletion Deduction
• 9.16 Oil and Gas Percentage Depletion
• Chapter 10 Loss Restrictions: Passive Activities and At-Risk Limits
• 10.1 Rental Activities Generally Treated as Passive
• 10.2 Rental Real Estate Loss Allowance of up to $25,000
• 10.3 Real Estate Professionals
• 10.4 Participation May Avoid Passive Loss Restrictions
• 10.5 Classifying Business Activities as One or Several
• 10.6 Material Participation Tests for Business
• 10.7 Tax Credits of Passive Activities Limited
• 10.8 Determining Passive or Nonpassive Income and Loss
• 10.9 Passive Income Recharacterized as Nonpassive Income
• 10.10 Working Interests in Oil and Gas Wells
• 10.11 Partners and Members of LLCs and LLPs
• 10.12 Form 8582 and Other Tax Forms
• 10.13 Suspended Losses Allowed on Disposition of Your Interest
• 10.14 Suspended Tax Credits
• 10.15 Personal Service and Closely Held Corporations
• 10.16 Sales of Property and of Passive Activity Interests
• 10.17 At-Risk Limits
• 10.18 What Is At Risk?
• 10.19 Amounts Not At Risk
• 10.20 At-Risk Investment in Several Activities
• 10.21 Carryover of Disallowed Losses
• 10.22 Recapture of Losses Where At Risk Is Less Than Zero
• Chapter 11 Other Income
• 11.1 Prizes and Awards
• 11.2 Lottery and Sweepstake Winnings
• 11.3 Gambling Winnings and Losses
• 11.4 Gifts and Inheritances
• 11.5 Refunds of State and Local Income Tax Deductions
• 11.6 Other Recovered Deductions
• 11.7 How Legal Damages Are Taxed
• 11.8 Cancellation of Debts You Owe
• 11.9 Schedule K-1
• 11.10 How Partners Report Partnership Profit and Loss
• 11.11 When a Partner Reports Income or Loss
• 11.12 Partnership Loss Limitations
• 11.13 Tax Audits of Partnerships
• 11.14 Stockholder Reporting of S Corp Income and Loss
• 11.15 How Beneficiaries Report Estate or Trust Income
• 11.16 Reporting Income in Respect of a Decedent (IRD)
• 11.17 Deduction for Estate Tax Attributable to IRD
• 11.18 How Life Insurance Proceeds Are Taxed to a Beneficiary
• 11.19 A Policy With a Family Income Rider
• 11.20 Selling or Surrendering Life Insurance Policy
• 11.21 Jury Duty Fees
• 11.22 Foster Care Payments
• Part 3 Claiming Deductions
• Chapter 12 Deductions Allowed in Figuring Adjusted Gross Income
• 12.1 Figuring Adjusted Gross Income (AGI)
• 12.2 Claiming Deductions From Gross Income
• 12.3 What Moving Costs Are Deductible?
• 12.4 The Distance Test
• 12.5 The 39-Week Test for Employees
• 12.6 The 78-Week Test for the Self-Employed and Partners
• 12.7 Claiming Deductible Moving Expenses
• 12.8 Reimbursements of Moving Expenses
• Chapter 13 Claiming the Standard Deduction or Itemized Deductions
• 13.1 Claiming the Standard Deduction
• 13.2 When To Itemize
• 13.3 Spouses Filing Separate Returns
• 13.4 Standard Deduction If 65 or Older or Blind
• 13.5 Standard Deduction for Dependents
• 13.6 Prepaying or Postponing Itemized Expenses
• 13.7 Itemized Deductions Reduced for Higher-Income Taxpayers
• Chapter 14 Charitable Contribution Deductions
• 14.1 Deductible Contributions
• 14.2 Nondeductible Contributions
• 14.3 Contributions That Provide You With Benefits
• 14.4 Unreimbursed Expenses of Volunteer Workers
• 14.5 Support of a Student in Your Home
• 14.6 What Kind of Property Are You Donating?
• 14.7 Cars, Clothing, and Other Property Valued Below Cost
• 14.8 Bargain Sales of Appreciated Property
• 14.9 Art Objects
• 14.10 Interests in Real Estate
• 14.11 Life Insurance
• 14.12 Business Inventory
• 14.13 Donations Through Trusts
• 14.14 Records Needed To Substantiate Your Contributions
• 14.15 Form 8283 and Written Appraisal Requirements for Property Donations
• 14.16 Penalty for Substantial Overvaluation of Property
• 14.17 Ceiling on Charitable Contributions
• 14.18 Carryover for Excess Donations
• 14.19 Election To Reduce Fair Market Value by Appreciation
• Chapter 15 Itemized Deduction for Interest Expenses
• 15.1 Home Mortgage Interest
• 15.2 Home Acquisition Loans
• 15.3 Home Equity Loans
• 15.4 Home Construction Loans
• 15.5 Home Improvement Loans
• 15.6 Mortgage Insurance Premiums and Other Payment Rules
• 15.7 Interest on Refinanced Loans
• 15.8 “Points”
• 15.9 Cooperative and Condominium Apartments
• 15.10 Investment Interest Limitations
• 15.11 Debts To Carry Tax-Exempt Obligations
• 15.12 Earmarking Use of Loan Proceeds For Investment or Business
• 15.13 Year To Claim an Interest Deduction
• 15.14 Prepaid Interest
• Chapter 16 Deductions for Taxes
• 16.1 Deductible Taxes
• 16.2 Nondeductible Taxes
• 16.3 State and Local Income Taxes or General Sales Taxes
• 16.4 Deducting Real Estate Taxes
• 16.5 Assessments
• 16.6 Tenants’ Payment of Taxes
• 16.7 Allocating Taxes When You Sell or Buy Realty
• 16.8 Automobile License Fees
• 16.9 Taxes Deductible as Business Expenses
• 16.10 Foreign Taxes
• Chapter 17 Medical and Dental Expense Deductions
• 17.1 Medical and Dental Expenses Must Exceed AGI Threshold
• 17.2 Allowable Medical and Dental Care Costs
• 17.3 Nondeductible Medical Expenses
• 17.4 Reimbursements Reduce Deductible Expenses
• 17.5 Expenses of Your Spouse
• 17.6 Expenses of Your Dependents
• 17.7 Decedent’s Medical Expenses
• 17.8 Premiums for Health Insurance
• 17.9 Travel Costs May Be Medical Deductions
• 17.10 Schooling for the Mentally or Physically Disabled
• 17.11 Nursing Homes
• 17.12 Nurses’ Wages
• 17.13 Home Improvements as Medical Expenses
• 17.14 Costs Deductible as Business Expenses
• 17.15 Long-Term Care Premiums and Services
• 17.16 Life Insurance Used by Chronically ill or Terminally ill Persons
• Chapter 18 Casualty and Theft Losses and Involuntary Conversions
• 18.1 Sudden Event Test for Casualty Losses
• 18.2 When To Deduct a Casualty Loss
• 18.3 Disaster Losses
• 18.4 Who May Deduct a Casualty Loss
• 18.5 Bank Deposit Losses
• 18.6 Damage to Trees and Shrubs
• 18.7 Deducting Damage to Your Car
• 18.8 Proving a Casualty Loss
• 18.9 Theft Losses
• 18.10 Proving a Theft Loss
• 18.11 Nondeductible Casualty and Theft Losses
• 18.12 Floors for Personal-Use Property Losses
• 18.13 Figuring Your Loss on Form 4684
• 18.14 Personal and Business Use of Property
• 18.15 Repairs May Be a “Measure of Loss”
• 18.16 Insurance Reimbursements
• 18.17 Excess Living Costs Paid by Insurance Are Not Taxable
• 18.18 Do Your Casualty or Theft Losses Exceed Your Income?
• 18.19 Defer Gain by Replacing Property
• 18.20 Involuntary Conversions Qualifying for Tax Deferral
• 18.21 How To Elect To Defer Tax
• 18.22 Time Period for Buying Replacement Property
• 18.23 Types of Qualifying Replacement Property
• 18.24 Cost of Replacement Property Determines Postponed Gain
• 18.25 Special Assessments and Severance Damages
• 18.26 Reporting Gains From Casualties
• Chapter 19 Deducting Job Costs and Other Miscellaneous Expenses
• 19.1 2% of AGI Floor Reduces Most Miscellaneous Expenses
• 19.2 Effect of 2% of AGI Floor on Miscellaneous Deductions
• 19.3 Checklist of Job Expenses Subject to the 2% of AGI Floor
• 19.4 Job Expenses Not Subject to the 2% of AGI Floor
• 19.5 Other Miscellaneous Expenses Not Subject to the 2% of AGI Floor
• 19.6 Dues and Subscriptions
• 19.7 Uniforms and Work Clothes
• 19.8 Expenses of Looking for a New Job
• 19.9 Local Transportation Costs
• 19.10 Unusual Job Expenses
• 19.11 Computer Bought for Job
• 19.12 Cell Phones, Calculators, Copiers and Fax Machines
• 19.13 Small Tools
• 19.14 Employee Home Office Deductions
• 19.15 Telephone Costs
• 19.16 Checklist of Deductible Investment Expenses
• 19.17 Costs of Tax Return Preparation and Audits
• 19.18 Deducting Legal Costs
• 19.19 Contingent Fees Paid Out of Taxable Awards
• Chapter 20 Travel and Entertainment Expense Deductions
• 20.1 Deduction Guide for Travel and Transportation Expenses
• 20.2 Commuting Expenses
• 20.3 Overnight-Sleep Test Limits Deduction of Meal Costs
• 20.4 IRS Meal Allowance
• 20.5 Business Trip Deductions
• 20.6 Local Lodging Costs
• 20.7 When Are You Away From Home?
• 20.8 Fixing a Tax Home If You Work in Different Locations
• 20.9 Tax Home of Married Couple Working in Different Cities
• 20.10 Deducting Living Costs on Temporary Assignment
• 20.11 Business-Vacation Trips Within the United States
• 20.12 Business-Vacation Trips Outside the United States
• 20.13 Deducting Expenses of Business Conventions
• 20.14 Travel Expenses of a Spouse, Dependent, or Business Associate
• 20.15 Restrictions on Foreign Conventions and Cruises
• 20.16 50% Deduction Limit
• 20.17 The Restrictive Tests for Meals and Entertainment
• 20.18 Directly Related Dining and Entertainment
• 20.19 Goodwill Entertainment
• 20.20 Home Entertaining
• 20.21 Your Personal Share of Entertainment Costs
• 20.22 Entertainment Costs of Spouses
• 20.23 Entertainment Facilities and Club Dues
• 20.24 Restrictive Test Exception for Reimbursements
• 20.25 50% Cost Limitation on Meals and Entertainment
• 20.26 Business Gift Deductions Are Limited
• 20.27 Recordkeeping Requirements
• 20.28 Proving Travel and Entertainment Expenses
• 20.29 Reporting T&E Expenses If You Are Self-Employed
• 20.30 Employee Reporting of Unreimbursed T&E Expenses
• 20.31 Tax Treatment of Reimbursements
• 20.32 What Is an Accountable Plan?
• 20.33 Per Diem Travel Allowance Under Accountable Plans
• 20.34 Automobile Mileage Allowance
• 20.35 Reimbursements Under Non-Accountable Plans
• Chapter 21 Personal Exemptions
• 21.1 How Many Exemptions May You Claim?
• 21.2 Your Spouse as an Exemption
• 21.3 Qualifying Children
• 21.4 Qualifying Relatives
• 21.5 Meeting the Support Test for a Qualifying Relative
• 21.6 Multiple Support Agreements
• 21.7 Special Rule for Divorced or Separated Parents
• 21.8 The Dependent Must Meet a Citizen or Resident Test
• 21.9 The Dependent Does Not File a Joint Return
• 21.10 Spouses’ Names and Social Security Numbers on Joint Return
• 21.11 Reporting Social Security Numbers of Dependents
• 21.12 Phaseout of Personal Exemptions
• Part 4 Personal Tax Computations
• Chapter 22 Figuring Your Regular Income Tax Liability
• 22.1 Taxable Income and Regular Income Tax Liability
• 22.2 Using the Tax Table
• 22.3 Tax Computation Worksheet
• 22.4 Tax Calculation If You Have Net Capital Gain or Qualified Dividends
• 22.5 Foreign Earned Income Tax Worksheet
• 22.6 Income Averaging for Farmers and Fishermen
• 22.7 Tax Credits
• 22.8 Additional Medicare Tax and Net Investment Income Tax
• Chapter 23 Alternative Minimum Tax (AMT)
• 23.1 Computing Alternative Minimum Tax on Form 6251
• 23.2 Adjustments and Preferences for AMT
• 23.3 Tax Credits Allowed Against AMT
• 23.4 Regular Tax Credit for Prior-Year AMT
• 23.5 Avoiding AMT
• Chapter 24 Computing the “Kiddie Tax” on Your Child’s Investment Income
• 24.1 Filing Your Child’s Return
• 24.2 Children Subject to “Kiddie Tax” for 2017
• 24.3 Computing “Kiddie Tax” on Child’s Return
• 24.4 Parent’s Election To Report Child’s Dividends and Interest
• Chapter 25 Personal Tax Credits Reduce Your Tax Liability
• 25.1 Overview of Personal Tax Credits
• 25.2 Child Tax Credit for Children Under Age 17
• 25.3 Figuring the Child Tax Credit
• 25.4 Qualifying for the Child and Dependent Care Credit
• 25.5 Figuring the Dependent Care Credit
• 25.6 Qualifying Tests for EIC
• 25.7 Income Tests for Earned Income Credit (EIC)
• 25.8 Qualifying for the Adoption Credit
• 25.9 Claiming the Adoption Credit on Form 8839
• 25.10 Eligibility for the Saver’s Credit
• 25.11 Figuring the Saver’s Credit
• 25.12 Premium Tax Credit
• 25.13 Health Coverage Credit
• 25.14 Mortgage Interest Credit
• 25.15 Residential Energy Credits
• 25.16 Credit for Qualified Plug-in Electric and Fuel Cell Vehicles
• 25.17 Repayment of the First-Time Homebuyer Credit
• Chapter 26 Tax Withholdings
• 26.1 Withholdings Should Cover Estimated Tax
• 26.2 Income Taxes Withheld on Wages
• 26.3 Low Earners May Be Exempt From Withholding
• 26.4 Are You Withholding the Right Amount?
• 26.5 Voluntary Withholding on Government Payments
• 26.6 When Tips Are Subject to Withholding
• 26.7 Withholding on Gambling Winnings
• 26.8 FICA Withholdings
• 26.9 Withholding on Distributions from Retirement Plans and Commercial Annuities
• 26.10 Backup Withholding
• Chapter 27 Estimated Tax Payments
• 27.1 Do You Owe an Estimated Tax Penalty for 2017?
• 27.2 Planning Estimated Tax Payments for 2018
• 27.3 Dates for Paying Estimated Tax Installments for 2018
• 27.4 Estimates by Married Taxpayers
• 27.5 Adjusting Your Payments During the Year
• Chapter 28 Additional Medicare Tax and Net Investment Income Tax
• 28.1 Higher-Income Taxpayers May be Subject to Additional Taxes
• 28.2 Additional 0.9% Medicare Tax on Earnings
• 28.3 Additional 3.8% Tax on Net Investment Income
• Part 5 Tax Planning
• Chapter 29 Tax Savings for Residence Sales
• 29.1 Avoiding Tax on Sale of Principal Residence
• 29.2 Meeting the Ownership and Use Tests for Exclusion
• 29.3 Home Sales by Married Persons
• 29.4 Reduced Maximum Exclusion
• 29.5 Figuring Gain or Loss
• 29.6 Figuring Adjusted Basis
• 29.7 Personal and Business Use of a Home
• 29.8 No Loss Allowed on Personal Residence
• 29.9 Loss on Residence Converted to Rental Property
• 29.10 Loss on Residence Acquired by Gift or Inheritance
• Chapter 30 Tax Rules for Investors in Securities
• 30.1 Planning Year-End Securities Transactions
• 30.2 Earmarking Stock Lots
• 30.3 Sale of Stock Dividends
• 30.4 Stock Rights
• 30.5 Short Sales of Stock
• 30.6 Wash Sales
• 30.7 Convertible Stocks and Bonds
• 30.8 Stock Options
• 30.9 Sophisticated Financial Transactions
• 30.10 Investing in Tax-Exempts
• 30.11 Ordinary Loss for Small Business Stock (Section 1244)
• 30.12 Series EE Bonds
• 30.13 I Bonds
• 30.14 Trader, Dealer, or Investor?
• 30.15 Mark-to-Market Election for Traders
• Chapter 31 Tax Savings for Investors in Real Estate
• 31.1 Real Estate Ventures
• 31.2 Sales of Subdivided Land—Dealer or Investor?
• 31.3 Exchanging Real Estate Without Tax
• 31.4 Timing Your Real Property Sales
• 31.5 Cancellation of a Lease
• 31.6 Sale of an Option
• 31.7 Granting of an Easement
• 31.8 Special Tax Credits for Real Estate Investments
• 31.9 Foreclosures, Repossessions, Short Sales, and Voluntary Conveyances to Creditors
• 31.10 Restructuring Mortgage Debt
• 31.11 Abandonments
• 31.12 Seller’s Repossession After Buyer’s Default on Mortgage
• 31.13 Foreclosure on Mortgages Other Than Purchase Money
• 31.14 Foreclosure Sale to Third Party
• 31.15 Transferring Mortgaged Realty
• Chapter 32 Tax Rules for Investors in Mutual Funds
• 32.1 Timing of Your Investment Can Affect Your Taxes
• 32.2 Reinvestment Plans
• 32.3 Mutual Fund Distributions Reported on Form 1099-DIV
• 32.4 Tax-Exempt Bond Funds
• 32.5 Fund Expenses
• 32.6 Tax Credits From Mutual Funds
• 32.7 How To Report Mutual Fund Distributions
• 32.8 Redemptions and Exchanges of Fund Shares
• 32.9 Basis of Redeemed Shares
• 32.10 Comparison of Basis Methods
• 32.11 Mutual Funds Compared to Exchange-Traded Funds
• Chapter 33 Educational Tax Benefits
• 33.1 Scholarships and Grants
• 33.2 Tuition Reductions for College Employees
• 33.3 How Fulbright Awards Are Taxed
• 33.4 United States Savings Bond Tuition Plans
• 33.5 Contributing to a Qualified Tuition Program (Section 529 Plan)
• 33.6 Distributions From Qualified Tuition Programs (Section 529 Plans)
• 33.7 Education Tax Credits
• 33.8 American Opportunity Credit
• 33.9 Lifetime Learning Credit
• 33.10 Contributing to a Coverdell Education Savings Account (ESA)
• 33.11 Distributions From Coverdell ESAs
• 33.12 Tuition and Fees Deduction
• 33.13 Student Loan Interest Deduction
• 33.14 Types of Deductible Work-Related Costs
• 33.15 Work-Related Tests for Education Costs
• 33.16 Local Transportation and Travel Away From Home To Take Courses
• Chapter 34 Special Tax Rules for Senior Citizens and the Disabled
• 34.1 Senior Citizens Get Certain Filing Breaks
• 34.2 Social Security Benefits Subject to Tax
• 34.3 Computing Taxable Social Security Benefits
• 34.4 Election for Lump-Sum Social Security Benefit Payment
• 34.5 Retiring on Social Security Benefits
• 34.6 How Tax on Social Security Reduces Your Earnings
• 34.7 Eligibility for the Credit for the Elderly or the Disabled
• 34.8 Figuring the Credit for the Elderly or Disabled
• 34.9 Tax Effects of Moving to a Continuing Care Facility
• 34.10 Medicare Part B and Part D Premiums for 2018
• 34.11 Special Tax Rules for the Disabled
• 34.12 ABLE Accounts
• Chapter 35 Members of the Armed Forces
• 35.1 Taxable Armed Forces Pay and Benefits
• 35.2 Tax Breaks for Armed Forces Members
• 35.3 Deductions for Armed Forces Personnel
• 35.4 Tax-Free Pay for Service in Combat Zone
• 35.5 Tax Deadlines Extended for Combat Zone or Contingency Operation Service
• 35.6 Tax Forgiveness for Combat Zone or Terrorist or Military Action Deaths
• 35.7 Extension To Pay Your Tax When Entering the Service
• 35.8 Tax Information for Reservists
• Chapter 36 How To Treat Foreign Earned Income
• 36.1 Claiming the Foreign Earned Income Exclusion
• 36.2 What Is Foreign Earned Income?
• 36.3 Qualifying for the Foreign Earned Income Exclusion
• 36.4 How To Treat Housing Costs
• 36.5 Meeting the Foreign Residence or Physical Presence Test
• 36.6 Claiming Deductions
• 36.7 Exclusion Not Established When Your Return Is Due
• 36.8 Tax-Free Meals and Lodging for Workers in Camps
• 36.9 U. S. Virgin Islands, Samoa, Guam, and Northern Marianas
• 36.10 Earnings in Puerto Rico
• 36.11 Tax Treaties With Foreign Countries
• 36.12 Exchange Rates and Blocked Currency
• 36.13 Foreign Tax Credit or Deduction for Foreign Taxes Paid
• Chapter 37 Planning Alimony and Marital Settlements
• 37.1 Planning Alimony Agreements
• 37.2 Decree or Agreement Required
• 37.3 Cash Payments Required
• 37.4 Payments Must Stop at Death
• 37.5 Child Support Payments Are Not Alimony
• 37.6 No Minimum Payment Period for Alimony
• 37.7 3rd Year Recapture If Alimony Drops by More Than $15,000
• 37.8 Legal Fees of Marital Settlements
• Chapter 38 Other Taxes
• 38.1 Overview of Household Employment Taxes
• 38.2 Social Security and Medicare (FICA) Taxes for Household Employees
• 38.3 Filing Schedule H To Report Household Employment Taxes
• 38.4 Federal Unemployment Taxes (FUTA) for Household Employees
• 38.5 Individual Responsibility Penalty
• 38.6 Exemption from Individual Responsibility Payment
• Chapter 39 Gift and Estate Tax Planning Basics
• 39.1 Gifts of Appreciated Property
• 39.2 Gift Tax Basics
• 39.3 Filing a Gift Tax Return
• 39.4 Gift Tax Credit
• 39.5 Custodial Accounts for Minors
• 39.6 Trusts in Family Planning
• 39.7 What is the Estate Tax?
• 39.8 Take Inventory and Estimate the Value of Your Potential Estate
• 39.9 Estate Tax for 2017
• 39.10 Planning for a Potential Estate Tax
• Part 6 Business Tax Planning
• Chapter 40 Income or Loss From Your Business or Profession
• 40.1 Forms of Doing Business
• 40.2 Reporting Self-Employed Income
• 40.3 Accounting Methods for Reporting Business Income
• 40.4 Tax Reporting Year for Self-Employed
• 40.5 Reporting Certain Payments and Receipts to the IRS
• 40.6 Filing Schedule C
• 40.7 Deductions for Professionals
• 40.8 Nondeductible Expense Items
• 40.9 How Authors and Artists May Write Off Expenses
• 40.10 Deducting Expenses of a Sideline Business or Hobby
• 40.11 Deducting Expenses of Looking for a New Business
• 40.12 Home Office Deduction
• 40.13 Write-Off Methods for Home Office Expenses
• 40.14 Allocating Expenses to Business Use
• 40.15 Business Income May Limit Home Office Deductions
• 40.16 Home Office for Sideline Business
• 40.17 Depreciation of Office in Cooperative Apartment
• 40.18 Net Operating Losses (NOLs)
• 40.19 Your Net Operating Loss
• 40.20 How To Report a Net Operating Loss
• 40.21 How To Carry Back Your Net Operating Loss
• 40.22 Election to Carry Forward Losses
• 40.23 Domestic Production Activities Deduction
• 40.24 Qualified Production Activities
• 40.25 Figuring the Deduction on Form 8903
• 40.26 Business Credits
• 40.27 Filing Schedule F
• 40.28 Farming Expenses
• Chapter 41 Retirement and Medical Plans for Self-Employed
• 41.1 Overview of Retirement and Medical Plans
• 41.2 Choosing a Qualified Retirement Plan
• 41.3 Choosing a SEP
• 41.4 Deductible Contributions
• 41.5 How To Claim the Deduction for Contributions
• 41.6 How To Qualify a Retirement Plan or SEP Plan
• 41.7 Annual Qualified Retirement Plan Reporting
• 41.8 How Qualified Retirement Plan Distributions Are Taxed
• 41.9 SIMPLE IRA Plans
• 41.10 Health Savings Account (HSA) Basics
• 41.11 Limits on Deductible HSA Contributions
• 41.12 Distributions From HSAs
• 41.13 Archer MSAs
• 41.14 Small Employer Health Insurance Credit
• Chapter 42 Claiming Depreciation Deductions
• 42.1 What Property May Be Depreciated?
• 42.2 Claiming Depreciation on Your Tax Return
• 42.3 First-Year Expensing Deduction
• 42.4 MACRS Recovery Periods
• 42.5 MACRS Rates
• 42.6 Half-Year Convention for MACRS
• 42.7 Last Quarter Placements—Mid-Quarter Convention
• 42.8 150% Rate Election
• 42.9 Straight-Line Depreciation
• 42.10 Computers and Other Listed Property
• 42.11 Assets in Service Before 1987
• 42.12 MACRS for Real Estate Placed in Service After 1986
• 42.13 Demolishing a Building
• 42.14 Qualified Leasehold and Retail Improvements and Restaurant Property
• 42.15 Depreciating Real Estate Placed in Service After 1980 and Before 1987
• 42.16 When MACRS Is Not Allowed
• 42.17 Amortizing Goodwill and Other Intangibles (Section 197)
• 42.18 Deducting the Cost of Computer Software
• 42.19 Amortizing Research and Experimentation Costs
• 42.20 Bonus Depreciation
• Chapter 43 Deducting Car and Truck Expenses
• 43.1 Standard Mileage Rate
• 43.2 Expense Allocations
• 43.3 Depreciation Restrictions on Cars, Trucks, and Vans
• 43.4 Annual Ceilings on Depreciation
• 43.5 MACRS Rates for Cars, Trucks, and Vans
• 43.6 Straight-Line Method
• 43.7 Depreciation for Year Vehicle Is Disposed of
• 43.8 Depreciation After Recovery Period Ends
• 43.9 Trade-in of Business Vehicle
• 43.10 Recapture of Deductions on Business Car, Truck, or Van
• 43.11 Keeping Records of Business Use
• 43.12 Leased Business Vehicles: Deductions and Income
• Chapter 44 Sales of Business Property
• 44.1 Depreciation Recaptured as Ordinary Income on Sale of Personal Property
• 44.2 Depreciation Recaptured as Ordinary Income on Sale of Real Estate
• 44.3 Recapture of First-Year Expensing
• 44.4 Gifts and Inheritances of Depreciable Property
• 44.5 Involuntary Conversions and Tax-Free Exchanges
• 44.6 Installment Sale of Depreciable Property
• 44.7 Sale of a Proprietorship
• 44.8 Property Used in a Business (Section 1231 Assets)
• 44.9 Sale of Property Used for Business and Personal Purposes
• 44.10 Should You Trade in Business Equipment?
• 44.11 Corporate Liquidation
• 44.12 Additional Taxes on Higher-Income Taxpayers
• Chapter 45 Figuring Self-Employment Tax
• 45.1 What Is Self-Employment Income?
• 45.2 Partners Pay Self-Employment Tax
• 45.3 Schedule SE
• 45.4 How Wages Affect Self-Employment Tax
• 45.5 Optional Method If 2017 Was a Low-Income or Loss Year
• 45.6 Self-Employment Tax Rules for Certain Positions
• Part 7 Filing Your Return and What Happens After You File
• Chapter 46 Filing Your Return
• 46.1 Keeping Tax Records
• 46.2 Getting Ready To File Your Return
• 46.3 Applying for an Extension
• 46.4 Getting Your Refund
• 46.5 Paying Taxes Due
• 46.6 Handling Identity Theft
• 46.7 Notify the IRS of Address Changes
• 46.8 Interest on Tax Underpayments
• 46.9 Tax Penalties for Late Filing and Late Payment
• Chapter 47 Filing Refund Claims, and Amended Returns
• 47.1 Filing An Amended Return
• 47.2 When To File a Refund Claim
• 47.3 Stating the Reasons for Refund Claim
• 47.4 Quick Refund Claims
• 47.5 Interest Paid on Refund Claims
• 47.6 Refunds Withheld To Cover Debts
• 47.7 Amended Returns Showing Additional Tax
• 47.8 Penalty for Filing Excessive Refund Claim
• Chapter 48 If the IRS Examines Your Return
• 48.1 Odds of Being Audited
• 48.2 When the IRS Can Assess Additional Taxes
• 48.3 Audit Overview
• 48.4 Preparing for the Audit
• 48.5 Handling the Audit
• 48.6 Tax Penalties for Inaccurate Returns
• 48.7 Penalties for Not Reporting Foreign Financial Accounts
• 48.8 Agreeing to the Audit Changes
• 48.9 Disputing the Audit Changes
• 48.10 Offer in Compromise
• 48.11 Recovering Costs of a Tax Dispute
• 48.12 Suing the IRS for Unauthorized Collection
• Part 8 2017 Sample Tax Forms
• 2017 Form 1040
• Schedule A
• Schedule B
• Schedule C
• Schedule D
• Glossary
• Index
• EULA