This handout identifies deductible interest expense that is claimed on Schedule A (Form 1040) as an itemized deduction.
Read MoreThis handout discusses which medical expenses are deductible and who can deduct those expenses. It also highlights the deductible expenses for long-term care and nursing home costs.
Read MoreThis handout discusses which taxes paid are deductible as well as any limitations on the deductibility of those taxes.
Read MoreThis handout discusses the tax treatment of a child’s unearned (investment) income.
Read MoreThis handout provides information on the deductibility of moving expenses for active duty servicemembers of the Armed Forces.
Read MoreThis handout provides guidance to taxpayers who have state income tax liabilities to more than one state. It also provides state tax information for taxpayers associated with the military.
Read MoreThis handout contains information for on-demand drivers, such as Uber or Lyft drivers, on tax reporting of income and expenses. Included is guidance on additional expenses that may be tax deductible.
Read MoreThis handout explains the type of records which should be kept and the retention period of those records. The information is beneficial for recordkeeping of individual tax records and also for recordkeeping of business tax records.
Read MoreThis handout describes the various aspects of rental income and expenses. There is also an explanation of the difference between a repair and an improvement and the tax consequences of each.
Read MoreThis handout discusses the requirements to exclude gain on the sale of a principal residence. It also discusses the reduced maximum exclusion that is available for certain taxpayers.
Read MoreThis handout highlights the various types of retirement accounts along with the contribution limits and rules. The handout also includes information on qualifying for the Retirement Savings Contribution Credit.
Read MoreThis handout contains information for taxpayers who rent out their home, a room in their home or a vacation home. Included is guidance on tax-free rental use and when substantial services are provided.
Read MoreThis handout compares the use of the standard deduction vs. using itemized deductions.
Read MoreThis handout provides guidance on the taxation of exercising stock options. Tax reporting of these transactions is covered in details.
Read MoreThis handout provides charts of inflation-adjusted tax provisions, tax rate schedules, and net capital gain tax rates.
Read MoreThis handout contains information on types of tax scams including IRS impersonation scams. Included is guidance on how a taxpayer can protect himself or herself and specific actions to take.
Read MoreThis handout explains the calculation of income to determine what amount, if any, of Social Security benefits are taxable. It also provides strategies to prevent Social Security benefits from becoming taxable.
Read MoreThis handout explains how taxpayers should handle affairs once they have received a notice from the IRS. It also discusses how to avoid future notices and explains what rights the taxpayer has.
Read MoreThis handout provides information on how to report tip income. Recordkeeping requirements are also explained.
Read MoreThis handout explains the options a taxpayer has when he or she cannot pay the taxes due by the due date. Information on requesting an installment agreement is provided.