1040 Edition

If you prepare individual returns, and the associated schedules, the 1040 Edition is the book for you. This book contains the same individual information as the Deluxe Edition Plus (Tabs 1-17).

Individual Forms

1040, 2441, 4562, 4684, 4797, 6251, 8283, 8582, 8606, 8829, 8863, 8949

Schedules

1, 2, 3, A, B, C, D, E, EIC, F, H, SE

Start Ship Date: 12/15/24

$89

About the 1040 Edition

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Comparison of Federal Editions

The Deluxe Edition Plus contains the entire 1040 Edition and the most referenced tabs from the Small Business.

Individual Coverage
Tab	Tab Title	1040 Edition	Deluxe Edition Plus	Deluxe Supplement	Small Business
Tab 1	What's New
Inflation Adjusted Amounts Standard Deduction Personal Exemptions Qualified Business Income Deduction Thresholds Chart Federal Tax Rate Schedules Long-Term Capital Gain and Qualified Dividends Maximum Tax Rates Chart Social Security Highlights Chart Inflation Adjusted Amounts — Real Answers. Real Fast! Social Security (SS) and Medicare Inflation Adjusted Amounts Expiring Tax Provisions Chart What's New — Individuals Chart Income Deductions Credits What's New — Business Chart Deductions Taxes Credits Inflation Reduction Act of 2022 Premium Tax Credit (PTC) Energy Efficient Home Improvement Credit Residential Clean Energy Credit Energy Efficient Commercial Building Deduction New Energy Efficient Home Credit Clean Vehicle Credit Previously-Owned Clean Vehicles Credit Credit for Qualified Commercial Clean Vehicles Alternative Fuel Refueling Property Credit Elective Payment of Applicable Credits Transfer of Certain Credits Increase in Research Credit Against Payroll Tax for Small Businesses Limitation on Excess Business Losses of Non‑Corporate Taxpayers Other Provisions CHIPS Act of 2022 Deferred Social Security Taxes for Self‑Employed Individuals CP256V Notices Issued to Self-Employed Individuals Filing and Payment Deadlines Extended for Disasters
Tab 2	Federal Tax Table and EIC Table
Federal Tax Table and EIC Table Federal Tax Table Prior Year Tax Rate Schedules Earned Income Credit (EIC) Table
Tab 3	1040 Line Instructions
Standard Deduction Federal Tax Rate Schedules Personal Exemption Form 1040 U.S. Individual Income Tax Return 2022 Schedule 1 (Form 1040) Schedule 2 (Form 1040) Schedule 3 (Form 1040) Filing Requirements Name, Address, Social Security Number Name Address Social Security Number (SSN) Individual Taxpayer Identification Number (ITIN) Digital Assets Filing Status Filing Status Chart Married Taxpayers Single Married Filing Jointly (MFJ) Married Filing Separately (MFS) Head of Household (HOH) Qualifying Surviving Spouse (QSS) Dependents Qualifying Child of More than One Person Dependency Tests for 2022 Chart Single Parent Situations for 2022 Chart Release of Child to Noncustodial Parent (Release of Claim to Exemption) Multiple Support Agreements Exceptions to Time Lived With Taxpayer Other Dependency Rules Income (Form 1040) Wages Tip Reporting Excess Salary Deferrals Interest and Dividend Income Retirement Distributions Social Security Lump-Sum Payments Capital Gain or Loss Additional Income (Schedule 1) Disability Payments and Sick Pay Imputed Interest on Below-Market Loans Lawsuit Settlements and Awards Life Insurance Notary Public Fiduciaries Nontaxable Income Public Safety Officers Homeowner Assistance Fund (HAF) Payments Adjustments to Income (Schedule 1) Deductions (Form 1040) Standard Deduction Qualified Business Income Deduction (QBID) Taxes (Form 1040) Income Tax Additional Taxes (Schedule 2) Other Taxes Additional Medicare Tax Credits and Payments (Form 1040) Child Tax Credit Nonrefundable Credits (Schedule 3) Withholdings Estimated Tax Payments Earned Income Credit Other Payments and Refundable Credits (Schedule 3) Excess Social Security and RRTA Tax Withheld Repayments Refund or Amount Due (Form 1040) Delayed Refunds for Returns Claiming Certain Credits Refund Offsets Direct Deposit Applied to 2023 Estimated Tax Amount Owed Signature Third Party Designee Return Due Date Extensions
FTF	FastTaxFacts Dependents
Dependency Tests Chart Qualifying Child for Earned Income Credit (EIC) Chart Earned Income Credit Additional Information Chart Filing Requirements for Dependents Chart Dependent Credits Chart Kiddie Tax Chart Qualifying Person for Child and Dependent Care Credit Chart Child and Dependent Care Expenses Chart Child and Dependent Care Credit Flow Chart Claiming a Dependent's Education Expenses Chart Qualifying Person for Head of Household Chart Qualifying Widow(er) With Dependent Child Chart Education Benefits Chart
Tab 4	Itemized Deductions, A
Standard Mileage Rates Chart When Medical Expenses Are Deductible Chart Medical Expenses Chart Taxes Paid—Itemized Deductions Chart Fair Market Value Guide for Used Items Recordkeeping Rules for Charitable Contributions Medical Expenses Medical Expenses AGI Limit What Medical Expenses Are Deductible When Medical Expenses Are Deductible Whose Medical Expenses Are Deductible Married Filing Separately Medical Expenses Decedent's Medical Expenses Capital Expenses Deductible as Medical Expenses Insurance Premiums Lifetime Care Advance Payments Dependents With Disabilities Lodging Expenses for Medical Care Long-Term Care Medicines Nursing Home Nursing Services—Nonprofessional Special Education Medical Care Transportation Weight-Loss Program Reimbursed Medical Expenses Taxes Paid—Itemized Deductions Schedule A (Form 1040) Taxes State and Local Tax (SALT) Deduction Limitation Election to Deduct Income Tax or Sales Tax State and Local Income Taxes State and Local General Sales Taxes Real Estate Taxes Personal Property Taxes Foreign Income Taxes Interest Paid—Itemized Deductions Interest Expense Home Mortgage Interest Deductible Mortgage Interest Amount Qualified Home—Mortgage Interest Election to Treat Mortgage Interest as Not Secured by the Home Legal Liability to Make Mortgage Payments Form 1098, Mortgage Interest Statement Form 1098-MA, Mortgage Assistance Payments Reverse Mortgage Points and Loan Origination Fees Mortgage Insurance Premiums Mortgage Interest Special Situations Investment Interest Paid Election to Capitalize Interest and Taxes Interest Tracing Rules (Allocation of Interest) Charitable Contributions Eligibility to Receive Tax-Deductible Contributions Qualified Charitable Organizations Cash Contributions Contributions That Benefit the Taxpayer Contributions to Donor-Advised Funds Volunteer Expenses Contributions of Property Form 8283, Noncash Charitable Contributions Recapture of Charitable Contribution Deduction Future Interest in Property When Contributions Are Deductible Charitable Contributions Deduction Limitations Charitable Contributions of IRA Distributions Donating Vehicles, Boats, and Airplanes Recordkeeping Rules for Charitable Contributions Casualty and Theft Losses Casualty and Theft Losses How to Report Casualties and Thefts Chart Deductible Losses Nondeductible Losses Disaster Losses Loss on Deposits Insurance and Other Reimbursements Calculating a Loss Casualty Gains Gain Realized on Home in Disaster Area Other Itemized Deductions Net Qualified Disaster Loss Other Itemized Deductions Miscellaneous Itemized Deductions
Tab 5	Sole Proprietorships and Farmers, C, F, SE
Business Use of Home Methods Chart Employer Identification Number (EIN) Daycare Meal and Snack Rates Chart Self-Employment (SE) Tax Per Diem Rates Hobby Loss Rules Farmers—Estimated Tax Features of Sole Proprietorships Chart Self-Employment Tax Situations Chart Principal Business or Professional Activity Codes Schedule C—Profit or Loss From Business Schedule C (Form 1040) Filing Requirements Schedule C or Partnership Schedule C Recordkeeping and Substantiation Rules Planning Tips for Sole Proprietors Schedule C (Form 1040) Line-by-Line Schedule C (Form 1040), Part I—Income Schedule C (Form 1040), Part II—Expenses Self-Employed Health Insurance Deduction Employee-Spouse Health Insurance Schedule C (Form 1040), Part III—Cost of Goods Sold Schedule C (Form 1040), Part IV—Information on Vehicle Schedule C (Form 1040), Part V—Other Expenses Excess Business Loss Limitation Business Use of Home Qualification Rules—Business Use of Home 1) Exclusive Use Test 2) Regular Use Test 3) Trade or Business Use Test 4) Principal Place of Business Test Employee Business Use of Home Simplified Method Regular Method Simplified or Regular Method Election Sole Proprietorships Daycare Providers—Deducting Meals Authors, Artists, and Musicians Sharing (Gig) Economy Foster Care Business Kids in Business Family Businesses—Employing Family Members Hobby Loss Rules Hobby or Business Relevant Factors Reporting Hobby Income and Expenses Hobby Loss Example Election to Postpone Determination of Hobby or Business Status Independent Contractor vs. Employee Worker Classifications Factors Used to Determine Independent Contractor vs. Common-Law Employee Status Safe Harbor for Businesses Other Relief for Employers Erroneous Treatment of Employees as Independent Contractors—Form 1099-NEC Received Voluntary Classification Settlement Program Self-Employment Tax Who Pays Self-Employment (SE) Tax Self-Employment Tax Self-Employment Tax Optional Methods Election Schedule F—Profit or Loss From Farming Where to Report Sales of Farm Products Reporting Farming Activities Farming Activities Farm Accounting Methods Farm Inventory Crop Method Election Agricultural Program Payments Patronage Dividends From Cooperatives Per-Unit Retain Certificate From Cooperatives Farm Debt Cancellation Net Operating Losses on Farms Excess Farm Loss Limitation Income Averaging for Farmers and Fishermen Prepaid Farm Expenses Real Estate Taxes on Farm Land Farm Truck and Car Expenses Depreciation for Farm Property Business Use of the Home Soil and Water Conservation Expenses Uniform Capitalization Rules for Farmers Timber Sales by Farmers Postponing Gain on Weather-Related Sales of LivestockIncome Averaging for Farmers and Fishermen Prepaid Farm Expenses Real Estate Taxes on Farm Land Farm Truck and Car Expenses Depreciation for Farm Property Business Use of the Home Soil and Water Conservation Expenses Uniform Capitalization Rules for Farmers Timber Sales by Farmers Postponing Gain on Weather-Related Sales of Livestock
Tab 6	Investment Income, B, D, 4797
Income Tax Treaties—Qualified Dividends Tax Rates: Capital Gain & Dividend Income Chart Net Investment Income Tax (NIIT) Chart Types of Business Property Chart Tax Treatment of Settlement Costs on Purchase or Sale of Real Estate Chart Tax Treatment of Stock Options Chart Basis and Holding Period Rules Chart Interest and Dividends (Schedule B) Schedule B (Form 1040), Interest and Ordinary Dividends Taxable Interest Accrued Interest Original Issue Discount (OID) Tax-Exempt Interest Amortizable Bond Premium Market Discount U.S. Savings Bonds U.S. Treasury Bills, Notes, and Bonds Dividends That Are Actually Interest Money Market Funds Certificates of Deposit (CDs) Gift for Opening Account Interest on Tax Refunds Interest on Insurance Dividends Prepaid Insurance Premiums Taxable Dividends Qualified Dividends Nondividend Distributions Cash and Noncash Liquidation Distributions Exempt-Interest Dividends Stock Dividends Dividends Paid on Insurance Alaska Permanent Fund Dividends Nominee Income Foreign Accounts and Trusts Net Investment Income Tax Capital Gains and Losses (Schedule D) Schedule D (Form 1040), Capital Gains and Losses Form 1099-B, Proceeds From Broker and Barter Exchange Transactions Basis Holding Periods Capital Gain Tax Rates Capital Gains Election for Self-Created Musical Works 28% Rate Gain Gains on Small Business Stock Losses on Small Business Stock Unrecaptured Section 1250 Gain Easements Capital Gain Distributions Capital Loss Limitation/Carryover Wash Sales Demutualization of Life Insurance Companies Short Sales Calls and Puts Straddles Classifying Investors and Traders Qualified Opportunity Fund Deferral Election Digital Asset Sale or Exchange Mutual Funds Sales of Business Property (Form 4797) Disposing of Business Property Section 1231—Special Treatment for Gains and Losses on Sale of Business Assets Depreciation Recapture—Sale of Business or Investment Property Installment Sales (Form 6252) Installment Sales Interest Income From an Installment Sale Calculating Installment Sale Income (Gain on Sale) Installment Sale to a Related Party Electing Out of an Installment Sale Like-Kind Exchanges (Form 8824) Like-Kind Exchanges Like-Kind Property Deferred Exchanges Reverse Exchanges Related Parties Qualified Intermediaries Employee Stock Options Statutory Stock Options Incentive Stock Option (ISO) Employee Stock Purchase Plan (ESPPs) Nonstatutory Stock Options Sale of Principal Residence Determining Residence Basis Adjusted Basis of a Residence Exclusion of Gain Partial Exclusion of Gain Nonqualified Use (Non-Use) Business Use or Rental of Home—Application of Exclusion Rules Reporting Sale of Principal Residence Involuntary Conversions Involuntary Conversion Defined Condemnations Postponement of Gain Election Foreclosures, Repossessions, and Cancellation of Debt Definitions Foreclosure or Repossession Property Secured by Recourse Debt Property Secured by Nonrecourse Debt Short Sale and Deed in Lieu of Foreclosure Nontaxable Cancellation of Debt Income Taxpayer Insolvency Qualified Principal Residence Debt Forms 1099-A and 1099-C
Tab 7	Rental, Passive, and At-Risk, E
MACRS Recovery Periods for Property Used in Rental Activities Chart Partnerships Chart Rental Real Estate Loss for Individuals Chart How to Classify Rental Property for Tax Treatment Chart Schedule E (Form 1040), Supplemental Income and Loss Part I—Rental Real Estate and Royalties Part II—Partnerships and S Corporations Part III—Estates and Trusts Missing or Erroneous Schedule K-1—Form 8082 Rental Real Estate Qualified Business Income Deduction (QBID)—IRC §199A Excess Business Loss Limitation Rental Income Qualified Joint Venture Election Payments Requiring Forms 1099 Rental Expenses Limits on Rental Losses Personal Use of Rental Property—Roommates and Boarders Mixed-Use Property—Vacation Homes (IRC §280A) Sharing Economy Allocating Income and Expenses Interest on Rental—Second Home Sale of Rental Property Farm Rentals Passive Activity Losses At-Risk Limitations Passive Activity Loss Limits Activities That Are Not Passive Activities Passive Activity Credits Self-Rental Rule Material Participation Grouping Activities Partners, LLC Members, Corporation Shareholders Rental Activities Real Estate Professionals Form 8582, Passive Activity Loss Limitations Form 8810, Corporate Passive Activity Loss and Credit Limitations Special $25,000 Allowance for Rental Real Estate At-Risk Rules At-Risk Limits At-Risk Basis Form 6198, At-Risk Limitations
Tab 8	Business Deductions
Per Diem Rates—Continental U.S. (CONUS) Chart NOL Default Rules Chart QBID—Threshold Amounts and Phase-In Ranges Chart Amortization Per Diem Rates Per Diem Rates/High-Low Method Truckers/Transportation Industry Chart Business Deductions Ordinary and Necessary Business Expenses Employee Business Expenses (Form 2106) Limits on Business Deductions Services in Trade Bad Debts Capital Costs Election to Capitalize Carrying Charges Cell Phones Demolition Expenses Education Expenses Gifts Insurance Intangible Drilling Costs Life Insurance Marijuana Sales Penalties and Fines Professional Fees Recoveries Rent or Lease Repairs and Improvements Research and Experimental Costs Wages Meals, Entertainment, Travel, and Lodging Substantiating Meals, Travel, and Lodging Entertainment Meals Travel and Lodging Accountable/Nonaccountable Plans Reporting Reimbursements Chart Per Diem Paying Expenses of an Employer Reservists, Performing Artists, and Fee-Basis Government Officials Inventory/Cost of Goods Sold Inventory Cost of Goods Sold (COGS) Inventory Methods Uniform Capitalization (UNICAP) Rules Small Business Inventory Exception Qualified Business Income Deduction (QBID)—IRC §199A Qualified Business Income Deduction (QBID) Qualified Trades or Businesses Threshold Amount Specified Service Trade or Business (SSTB) Qualified Business Income (QBI) Calculation of QBID Agricultural and Horticultural Cooperatives Net Operating Loss (NOL) NOL Carryback and Carryforward What is a Net Operating Loss (NOL)? How to Calculate an NOL How to Use an NOL How to Calculate an NOL Carryover Start-Up/Organizational Costs Capital Expenses Start-Up Costs Organizational Costs Deduction/Amortization Making the Election What if the Business Never Starts? Accounting Periods and Methods Accounting Methods Cash Method Accrual Method Hybrid Method Long-Term Construction Contracts Prepaid Expenses Change in Accounting Method Accounting Periods Required Tax Year for Partnerships Required Tax Year for S Corporations and PSCs Business Purpose Tax Year Election Other Than Required Taxable Year (IRC §444)
Tab 9	Depreciation, 4562
MACRS Half-Year Convention Depreciation Rates Chart MACRS Recovery Periods Chart Depreciation Formulas Under MACRS Chart Depreciation and Amortization (Form 4562) Basics of Depreciation Form 4562 Computing Depreciation Depreciable Basis Allowed or Allowable What Can Be Depreciated Excluded Property Placed in Service Date Regular MACRS (GDS) /Alternative Depreciation System (ADS) Regular MACRS (GDS) Alternative Depreciation System (ADS) Conventions MACRS Conventions Depreciation Recapture Short Tax Year Depreciation Short Tax Year Short Tax Year Conventions Computing Depreciation in a Short Tax Year Section 179 Deduction Section 179 Limits Section 179 Election/Revocation Section 179 Qualifying Property Section 179 Nonqualifying Property Section 179 Recapture Special Depreciation Allowance Special Depreciation Allowance (Bonus Depreciation) Qualified Improvement Property Cost Recovery for Qualified Improvement Property Repairs and Improvements Repairs vs. Improvements Tangible Property Regulations Routine Maintenance Safe Harbor Capitalize Repair and Maintenance Costs Election De Minimis Safe Harbor Election Small Taxpayer Safe Harbor Election Materials and Supplies Remodel-Refresh Safe Harbor Intangible Assets Section 197 Intangibles General Asset Account (GAA) GAA Election Depreciation Adjustments for Alternative Minimum Tax AMT Depreciation Adjustments Correcting Depreciation Errors Section 481 Adjustment Miscellaneous Depreciation Issues Income Forecast Method Unit-of-Production Method Abandonment Idle Property Cost Segregation Depletion Depletion Allowance Oil and Gas Wells Geothermal Property and Other Mineral Property Depreciation for Like-Kind Exchanges and Involuntary Conversions Depreciating Replacement Property MACRS Recovery Periods MACRS Recovery Periods, GDS, and ADS MACRS Percentage Charts Residential Rental Property Nonresidential Real Property MACRS Short-Year Depreciation—Short Cut Percentage Method Chart
Tab 10	Automobiles and Listed Property
Vehicle Depreciation Limitations (Section 280F) Chart Section 179 Limits Chart Standard Mileage Rate Per Mile Business Autos Business Autos Transportation vs. Travel Commuting Office in the Home—Commuting Exception Standard Mileage Rate vs. Actual Expenses Standard Mileage Rate Method Actual Expense Method Luxury Auto Limits (Section 280F) Section 280F Depreciation Limits Maximizing Section 179—Autos Worksheet Qualified Nonpersonal-Use Vehicles MACRS Depreciation on Business Autos Depreciation After End of Recovery Period Converting Personal-Use Auto to Business Use Converting Business-Use Auto to Personal Use Depreciation Recapture Sale of Business Auto Business Auto Trade-In Rules Leased Autos Listed Property Rules for Listed Property Depreciation for Listed Property Recordkeeping for Listed Property Reporting Listed Property Lease Inclusion Tables
Tab 11	Tax Credits
Child and Dependent Care Credit Percentages Earned Income Credit Chart Retirement Savings Contribution Credit Chart Tax Credits Chart Due Diligence Requirements Due Diligence Requirements Chart Delayed Refunds for Refundable Credits Enforcement Adoption Expenses, Credits, and Exclusions Adoption Credit and Exclusion When to Claim Credit and Exclusion Children With Special Needs Child and Dependent Care Expenses Exclusion or Credit Qualifying Person Child and Dependent Care Credit Eligibility Exclusion on Separate Returns Work-Related Expenses Provider Identification Earned Income Child Tax Credit and Credit for Other Dependents Child Tax Credit Qualifying Child Additional Child Tax Credit Credit for Other Dependents Credit for the Elderly or the Disabled Earned Income Credit Basics of the Earned Income Credit (EIC) No Qualifying Children Earned Income Credit Eligibility Chart Qualifying Child Investment Income Limit Earned Income Federal Tax Paid on Fuels Credit for Federal Tax Paid on Fuels First-Time Homebuyer Credit Repayment of First-Time Homebuyer Credit Foreign Tax Credit Tax Paid to a Foreign Country Mortgage Interest Credit Mortgage Interest Credit Premium Tax Credit Premium Tax Credit (PTC) Reconciliation/Repayment of Advance Payments Shared Policy Allocations Health Coverage Tax Credit Health Coverage Tax Credit (HCTC) Who May Claim the Credit Form 8885, Health Coverage Tax Credit Residential Energy Credits Nonbusiness Energy Property Credit Residential Energy Efficient Property Credit Residential Energy Credits Chart Retirement Savings Contribution Credit Retirement Savings Contribution Credit (Saver's Credit) Vehicle Credits Alternative Motor Vehicle Credit (IRC §30B) Alternative Fuel Vehicle Refueling Property Credit (IRC §30C) Plug-In Electric Drive Motor Vehicle Credit (IRC §30D)
Tab 12	Children, College, and Family
Modified AGI for Computing Education Tax Benefits Chart Children Subject to Kiddie Tax Chart Kiddie Tax Chart Comparison of Education Credits Chart Claiming a Student's Education Expenses Chart Education Benefits Comparison Chart Coordinating Education Benefits Form 1098-T, Tuition Statement American Opportunity Credit Due Diligence Requirements American Opportunity Credit Amount Restrictions Eligible Students Qualified Education Expenses Lifetime Learning Credit Lifetime Learning Credit Tax Benefit Restrictions Eligible Students Qualified Education Expenses Qualified Tuition Programs (QTPs) and Education Savings Accounts (ESAs) QTP and ESA Tax Benefits QTP and ESA Contributions Chart Qualified Education Expenses for QTPs and ESAs Tax-Free Distributions Taxable Distributions QTP Rollovers and Transfers ESA Rollovers and Transfers Exceptions to 10% Additional Tax—Education Losses on QTPs and ESAs Scholarships, Fellowships, and Grants Tax-Free Scholarships Taxable Scholarships Coordination With Other Education Benefits Reporting Qualified Tuition Reductions Graduate Education U.S. Savings Bond Interest Exclusion Exclusion Rules Qualified Savings Bonds Qualified Education Expenses Dependents Penalty-Free IRA Distributions Penalty Exception Qualified Education Expenses Coordination With Other Education Benefits Student Loan Interest Deduction Student Loan Interest Deduction Achieving a Better Life Experience (ABLE) Achieving a Better Life Experience (ABLE) Account Student Loan Forgiveness or Cancellation Children and Taxes Kiddie Tax Divorce Property Settlements and Transfers Qualified Domestic Relations Order (QDRO) Deducting Legal Fees Alimony Child Support Underpayment of Alimony or Child Support
Tab 13	Retirement, Social Security, and Medicare
IRA Limits Social Security and Medicare Highlights Chart Taxable Social Security Benefits Base Amounts Chart Pension Plan Limitations Chart Rollover Chart Exceptions to the 10% Penalty on Early Distributions Chart Pension Plan Characteristics Chart Pension Plan Advantages/Disadvantages Chart Individual Retirement Arrangement (IRA) Who Can Set Up a Traditional IRA? Compensation for IRA Contribution Purposes IRA Investment Prohibited Transactions Involving IRAs Investment in Collectibles IRA Distributions Excess IRA Contributions Excess Contribution Penalty How to Correct an Excess Contribution Excess Contribution Withdrawn After Due Date for the Return Deducting an Excess Contribution in a Later Year Reduced IRA Deduction Phaseout Based on Modified AGI (MAGI) Modified Adjusted Gross Income (MAGI) Covered By an Employer Retirement Plan Nondeductible Contributions to IRAs Roth IRA Roth IRA Rules Distributions After Roth IRA Participant's Death Conversion Rules Recharacterization Roth IRA Reporting Roth 401(k) and Roth 403(b) Plans Simplified Employee Pension (SEP) SEP IRAs Savings Incentive Match Plans for Employees (SIMPLE) SIMPLE IRAs SIMPLE IRA Contributions SIMPLE IRA Distributions Other Retirement Plans Qualified Plans Defined Contribution Plans Defined Benefit Plans Section 401(k) Plans Section 403(b) Tax-Sheltered Annuity Plans Employee Stock Ownership Plan (ESOP) Section 457 Deferred Compensation Plans Vesting Rules Deemed IRA Railroad Retirement Federal Retirement Distributions Retirement Plan Loans Survivors and Beneficiaries Nonqualified Plans Lump-Sum Distributions Rollovers and Transfers Tax-Free Rollovers and Transfers Rollover Trustee-to-Trustee Transfer Transfers Incident to a Divorce Disaster-Related Relief Required Minimum Distribution (RMD) Required Minimum Distribution Rules 50% Penalty Tax on Excess Accumulations Inherited IRA Inherited Retirement Plans Other RMD Rules Miscellaneous Distributions Qualified Disaster Distributions Pension Plans of Public Safety Employees Qualified HSA Funding Distribution (QHFD) Qualified Reservist Distribution Foreign Pension and Annuity Distributions Social Security Social Security Basics Earnings Records Taxable Social Security Benefits How Benefits Are Calculated How Work Affects Retirement Benefits Supplemental Security Income (SSI) Medicare Medicare Basics Medicare Part A Premiums Medicare Part B Premiums Medicare Part C Coverage Medicare Part D Prescription Drug Plan (PDP) Medigap (Medicare Supplemental Insurance) Medicaid
Tab 14	Other 1040 Topics
Household Employment Tax Requirements Chart AMT Exemption—Individuals Chart AMT Exemption Phaseout Range Chart Health Savings Account (HSA) Limits Chart Foreign Earned Income Exclusion Amounts Chart Household Employees Schedule H, Household Employment Taxes Schedule H Filing Requirements Alternative Minimum Tax 2022 AMT Rate Schedule 2022 AMT Exemption—Individuals 2022 AMT Exemption Phaseout Range Form 6251, Alternative Minimum Tax—Individuals Incentive Stock Options—AMT Adjustments AMT and Children Partners and S Corporation Shareholders Credits and AMT Credit for Prior Year AMT Community Property Filing Separately Community Property—Registered Domestic Partners Clergy and Religious Workers Ministers Parsonage (Housing) Allowance Health Savings Account (HSA) U.S. Armed Forces U.S. Armed Forces Combat Zones Extensions and Deferrals Principal Residence Purchase or Sale Military Reservists Resident vs. Nonresident Aliens Resident Aliens Nonresident Aliens Effect of Tax Treaties Dual-Status Aliens Nonresident Spouse Students, Teachers, and Trainees Source of Income Nonresident Alien Taxation Departing Alien Tax Identification Number Foreign Income Taxation of Worldwide Income Foreign Earned Income Bona Fide Residence Test Physical Presence Test Waiver of Time Requirements Foreign Earned Income Exclusion and Housing Exclusion and Deduction Extensions for Taxpayers Abroad Amended Returns Filing Claim for Refund Form 1040-X, Amended U.S. Individual Income Tax Return Form 1045, Application for Tentative Refund Tax-Related Identity Theft Detecting and Reporting Identity Theft Identity Protection PIN (IP PIN) Program Data Theft Information for Tax Professionals
Tab 15	IRS, Penalties, and Audits
IRS Contact Information Taxpayer Advocate Service Refund Inquiries Preparer Tax Identification Number (PTIN) Transcripts Filing and Extended Due Dates Chart Extensions Overpayment/Underpayment Interest Rates Chart Taxpayer Penalties Chart Return Preparer Penalties Chart Private Letter Ruling (PLR) Accuracy Related Penalty Relief Private Debt Collection First Time Penalty Abatement Disaster Extended Tax Deadlines Disaster Relief Statutes of Limitations Recordkeeping Military Exceptions Date Considered Filed Assessment Collection Unfiled Returns Penalty for Underpayment of Estimated Tax Estimated Tax Penalty Joint Return to Separate Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts Directing Payments Taxpayer Unable to Pay File the Tax Return on Time Additional Time to Pay Offer in Compromise (OIC) Summary of an Offer in Compromise (OIC) OIC Eligibility To Submit an Offer Evaluation Process IRS Audits Selection of Returns for Examination Schedule C (Form 1040), Profit or Loss From Business IRS Audits Audit Preparation Repeat Examinations Concluding an Audit Appeal Within the IRS Tax Court Annual Filing Season Program AFSP Requirements Practice Before the IRS Authorizing a Representative Tax Transcript Disclosure of Tax Return Information Disclosure or Use of Tax Return Information Tax Return Information Taxpayer Consent IRS Collection Process Taxpayer Bill of Rights Fast Track Mediation—Collection (FTMC) Payment Options Federal Tax Liens IRS Levies Revocation or Denial of Passport Relief from Joint and Several Liability on Joint Returns Innocent Spouse Injured Spouse Electronic Filing e-File Requirement for Tax Return Preparers Applying to Become an e-File Provider Electronic Return Originators (EROs) Individual Returns Not Eligible for e-File Timely Filing Signing an Electronic Return—Individuals Corporations, Partnerships, Estates, and Trusts Signing an Electronic Return
Tab 16	Where to File and Tools
Private Delivery Services (PDS) Chart Where to File Forms 1040, 4868, and 1040-ES Chart Where to File Business Returns Private Delivery Service (PDS) Street Addresses Chart Tools for Tax Pros Client Communications Client Organizers Client Tracking Tools/Preparer Tools Consent and Engagement Tax Preparer Worksheets and Tables
FTF	FastTaxFacts 1099/W2 Roadmap
W-2, Wage Statement W-2G, Certain Gambling Winnings 1099-MISC, Miscellaneous Income 1099-INT, Interest Income 1099-DIV, Dividends and Distributions 1099-B, Proceeds From Broker and Barter Exchange Transactions 1099-S, Proceeds From Real Estate Transactions 1099-R, Distributions From Pensions, Annuities, Retirement, or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. 1099-G, Certain Government Payments 1099-SA, Distributions From an HSA, Archer MSA, or Medicare Advantage MSA Form 1098-E, Student Loan Interest Statement Form 1098-T, Tuition Statement 1099-Q, Payments From Qualified Education Programs (Under Section 529 and 530) Form 1099-A, Acquisition or Abandonment of Secured Property Form 1099-C, Cancellation of Debt 1099-LTC, Long-Term Care and Accelerated Death Benefits 1099-PATR, Taxable Distributions Received From Cooperatives
Tab 17	States
Filing Requirements Tax Rate Schedules State Websites Contact Information Return Mailing Addresses Extension Information Federal Attachments State e-File Information

Small Business Coverage
Tab	Tab Title	1040 Edition	Deluxe Edition Plus	Deluxe Supplement	Small Business
Tab 18	C Corporations, 1120
C Corporation Income Tax Rates, Form 1120 Where to File Filing Requirements Filing Deadline Extension of Time to File Penalties Electronic Filing Special Returns for Certain Organizations Chart Amended C Corporation Return Corporations Businesses Taxed as Corporations Legal Aspects of Corporations Payments to Shareholders Controlled Groups C Corporation Taxation C Corporation Income Tax C Corporation Tax Rates C Corporation Estimated Tax Depositing Taxes Quick Refund of Overpayment of Estimated Tax Change of Name or Address Capital Contributions Capital Contributions Basis IRC Section 351—Nontaxable Transfers Reporting an IRC Section 351 Transfer Use Caution When Transferring Personal Assets Stock C Corporation Advantages Fringe Benefits Rents and Royalty Payments Employer-Provided Living Expenses (IRC §119) Shareholder Loans Losses on Small Business Stock (IRC §1244) Gain Exclusion on Small Business Stock (IRC §1202) C vs. S Corporation Comparison Income and Expenses of a Corporation Meals and Entertainment Expense Business Interest Expense Tax Rules for Corporations Capital Losses Capital Gains Charitable Contributions Start-Up Costs and Organizational Costs Dividends-Received Deduction Corporate Net Operating Loss (NOL) Miscellaneous Corporate Topics Corporate Alternative Minimum Tax (AMT) Research and Experimental Expenditures Qualified Opportunity Zone (QOZ) Accounting Methods Tax Credits Shareholder Wages Employee/Shareholder Reasonable Compensation Assignment of Income Distributions to Shareholders Dividends Constructive Dividends (Taxable Distributions) Form 1099-DIV Form 5452, Corporate Report of Nondividend Distributions Earnings and Profits (E&P) Earnings and Profits (E&P) Defined Entity Classification Election Entity Classification Rules Accumulated Earnings Tax Personal Service Corporation (PSC) PSC Defined Personal Holding Company (PHC) PHC Defined Personal Holding Company Income Personal Holding Company Tax Homeowners' Associations Form 1120, 1120-H, or 990 Series Homeowners' Associations (IRC §528) Types of Homeowners' Associations Choice of Tax Form Stock Redemptions Tax Planning with Stock Redemptions and Liquidations Corporate Reorganizations Qualifications for Tax-Free Reorganization Distributions of Stock Under Reorganization Form 8937 Corporate Liquidations Complete Liquidation—C or S Corporations Election to Treat Stock Purchase as Asset Acquisition C Corporation Example Scenario Incorporation Agreement Health Savings Accounts SIMPLE Plan Organizational Costs and Start-Up Costs Purchase of Assets Payroll Dividends Financial Statements Line-by-Line Explanation of C Corporation Example—Page 1, Form 1120 Income Deductions Schedule J, Tax Computation and Payment Schedule L, Balance Sheet per Books Schedule M-1, Reconciliation of Income (Loss) per Books With Income per Return Schedule M-2, Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L) Depreciation Worksheet—Greener Pastures, Inc.
Tab 19	S Corporations, 1120S
Where to File Electronic Filing Filing Requirements Filing Deadline Amended Form 1120-S Schedule K-1 Codes (Form 1120‑S)—S Corporation Foreign Transactions S Corporation Advantages/Disadvantages Chart Business Activity Codes Penalties Taxation Summary—Corporations and Partnerships Chart Basics of S Corporations S Corporation Formation S Corporation Qualifications Ineligible Corporations One-Class-of-Stock Rule Form 2553, Election by a Small Business Corporation Relief for Late S Corporation Elections Resolving Frequently Encountered S Corporation Issues Termination of S Corporation Status Termination Inadvertent Termination 5-Year Waiting Period for Reinstatement Treatment of S Corporation Termination Year Flow-Through to S Corporation Shareholders Ordinary Business Income Pro Rata Allocation/Per-Share/Per-Day Separately Stated S Corporation Items Schedules K-2 and K-3 (Form 1120-S) Shareholder Basis S Corporation Shareholder's Basis S Corporation Shareholder's Basis Adjustments Loans Charitable Contributions of Appreciated Property by S Corporations Basis of S Corporation Stock Upon Conversion From C Corporation Discharge of Indebtedness Distributions Acronyms S Corporations With No Earnings and Profits (E&P) Accumulated Adjustments Account (AAA) Other Adjustments Account (OAA) Ordering Rules Reporting AAA and OAA Election to Distribute Earnings and Profits (E&P) First Post Termination Transition Period (PTTP) S Corporation Liquidation S Corporation Taxes S Corporation Pass Through Excess Net Passive Income Tax (IRC §1375) Built-In Gains (BIG) Tax Investment Credit Recapture Tax Last-In First-Out (LIFO) Recapture Tax Estimated Tax Payments State and Local Taxes Paid Miscellaneous S Corporation Issues Required Tax Year for S Corporations and PSCs Employee Business Expense for S Corporation Shareholder Reasonable Compensation Fringe Benefits for S Corporation Shareholders No Carryovers Between C and S Year S Corporation Example Scenario Incorporation Agreement Health Savings Accounts SIMPLE Plan Organizational and Start-Up Costs Purchase of Assets Payroll Distributions Financial Statements Line-by-Line Instructions (Form 1120-S) Income Deductions Schedules K and K-1 (Form 1120-S) Schedules K-2 and K-3 (1120-S) Schedule L—Balance Sheet per Books Schedule M-1—Reconciliation of Income (Loss) per Books with Income (Loss) per Return Schedule M-2 Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
Tab 20	Partnerships and LLCs, 1065
Electronic Filing Business Activity Codes Filing Requirements Filing Deadline Extension of Time to File Where to File Where to Report Income and Expenses (Form 1065) Chart Schedule K-1 Codes (Form 1065)—Partnership Chart Foreign Transactions Correcting a Previously Filed Form 1065 Chart Penalties Amended Partnership Return Partnership Advantages/Disadvantages Chart Partnerships Partnership Defined Spousal Partnerships Partnership Interests Created by Gift Contribution of Services Exclusion From Partnership Treatment General and Limited Partners Fundamentals of Partnership Taxation Partnership Agreement Partnership Tax Year Centralized Partnership Audit Regime Partnership Income and Expenses Trade or Business Income (Loss) Start-Up Costs and Organizational Costs Distributive Share Guaranteed Payments Self-Employed Health Insurance Premiums Business Interest Expense Limitation Meals and Entertainment Expense State and Local Taxes Paid Separately Stated Partnership Items Schedules K-2 and K-3 (Form 1065) Limit on Losses Timing of Income Change in Partnership Interest Unreimbursed Partnership Expenses Basis Partnership's Basis (Inside Basis) Partner's Basis in the Partnership (Outside Basis) Effect of Partnership Liabilities Alternative Rule for Computing Partner's Basis Partner's Capital Account Partner's Outside Basis Compared to Partner's Capital Account Partnership Distributions Tax Effects of Distributions Current Distributions Liquidating Distributions Liabilities Sale of Partnership Interest Disguised Sale Rules Certain Distributions Treated as Sales or Exchanges Payments for Unrealized Receivables and Inventory Items Form 8308, Report of a Sale or Exchange of Certain Partnership Interests Distribution of Unrealized Receivables or Inventory Liquidation at Partner's Retirement or Death Partnership Interests Held in Connection With Performance of Investment Management Services Terminating a Partnership Limited Liability Company (LLC) LLC Defined LLC Classification LLCs Classified as Partnerships LLCs Classified as Disregarded Entities LLCs Classified as Corporations LLC Treated as Partnership vs. S Corporation Subsequent Elections (Changing Elections) Limited Liability Partnership (LLP) Publicly Traded Partnership (PTP) Partnership Example Scenario Partnership Agreement Health Savings Accounts SIMPLE Plan Organizational Costs and Start-Up Costs Purchase of Assets Payroll Distributions Financial Statements Line-by-Line Explanations (Form 1065) Income Deductions Schedules K and K-1 (Form 1065) Schedule L—Balance Sheets per Books Schedule M-1—Reconciliation of Income (Loss) per Books With Income (Loss) per Return Schedule M-2—Analysis of Partners' Capital Accounts
Tab 21	Estates, Trusts, and Fiduciaries, 1041, 706, 709
Annual Exclusion for Gifts Chart Estate and Gift Tax Exclusion, Credit, and Tax Rate Chart Capital Gain and Qualified Dividend Rates Chart Form 1041 Income Tax Rate Schedule Chart Form 1041—Estates and Trusts Income Tax Return Chart Prior Years Form 1041 Income Tax Rate Schedules Chart Where to File—Form 1041 Chart State Estate and Inheritance Tax States with Estate or Inheritance Tax in 2022 Chart Form 706—Estate Tax Return Where to File—Form 706 or 709 Chart Estate and Gift Tax Chart Form 709—Gift Tax Return Form 709—2022 Filing Requirements Chart Death of a Taxpayer—Common Forms and Returns Chart Estates and Trusts (Form 1041) K-1 Codes Death of Taxpayer Property Passing at Death Probate Wills and Intestacy Personal Representatives Revocable Trusts at Death Income in the Year of Death Income in Respect of a Decedent (IRD) Wages After Death U.S. Savings Bonds at Death Decedent's Final Form 1040 Who Files and Signs Filing Requirements—Final Form 1040 Income—Final Form 1040 Deductions—Final Form 1040 Credits Estates and Trusts Income Tax Return—Form 1041 Filing Requirements—Form 1041 Estate Year Trust Entities Accounting Income Income—Form 1041 Capital Gains and Losses Tax-Exempt Income Deductions Termination Year Charitable Deductions—Form 1041 (Schedule A) Income Distribution Deduction—Form 1041 (Schedule B) Distributable Net Income (DNI) Distributions Schedule K-1 (Form 1041) Form 1041 Examples Alternative Minimum Tax—Estates and Trusts Alternative Minimum Tax (AMT) Calculating AMT Grantor Trusts Grantor Trusts Grantor Trust Filing Methods Grantor Trust Filing Methods Chart Estate and Gift Tax Estate Tax Generation-Skipping Transfer (GST) Tax Marital Deduction Marital Estate Tax Planning Portability of the Deceased Spousal Unused Exclusion (DSUE) Election Charitable Deduction Valuation Gift Tax Return—Form 709 Gift Tax Gifts Subject to Gift Tax Loans Joint Tenancies Gift Tax Exclusions Annual Exclusion Taxable Gifts Think Twice Before Giving Form 709 Gift Tax Return Examples Gift Splitting Estate Tax Return—Form 706 Gross Estate Asset Schedules Deductions State Death Tax Deduction for Estate Tax Paid on IRD Basis Basis of Inherited Property Basis of Gifts
Tab 22	Employee Benefits
Group Term Life Insurance Chart Who Qualifies as an Employee? Chart HSA Limitations Chart Employee Fringe Benefits Tax Treatment of Fringe Benefits Employees for Tax-Favored Fringe Benefit Purposes Nondiscrimination Rules for Fringe Benefits Achievement Awards [IRC §74(c)] Archer MSAs (IRC §220) Athletic Facilities [IRC §132(j)(4)] Cafeteria Plans (IRC §125) De Minimis Benefits [IRC §132(e)] Dependent Care Assistance (IRC §129) Educational Assistance (IRC §127) Employee Discounts [IRC §132(c)] Employee Stock Options [IRC §83(i)] Employer-Provided Cell Phones Employer-Provided Vehicles Group Term Life Insurance (IRC §79) Health Benefits (IRC §105 and IRC §106) Health Savings Accounts (HSAs) (IRC §223) Meals and Lodging (IRC §119) Moving Expense Reimbursements [IRC §132(g)] No-Additional-Cost Services [IRC §132(b)] Retirement Planning Services [IRC §132(m)] Transportation Commuting Benefits [IRC §132(f)] Tuition Reduction [IRC §117(d)] Working Condition Benefits [IRC §132(d)]
Tab 23	Payroll and Labor Laws, 940, 941
Payroll Deposit Penalties Chart Form 941—Payroll Electronic Deposit Schedule Chart 2023 Employer's Payroll Tax Calendar Chart Payroll Tax Deposits Electronic Federal Tax Payment System (EFTPS) Certified Professional Employer Organization (CPEO) Other Payroll Deposit Rules Form W-4, Employee's Withholding Certificate Form 941, Employer's Quarterly Federal Tax Return Federal Insurance Contributions Act (FICA) Employer's Quarterly Federal Tax Return (Form 941) Form 944, Employer's Annual Federal Tax Return Form 943, Employer's Annual Federal Tax Return for Agricultural Employees Form 945, Annual Return of Withheld Federal Income Tax Backup Withholding Employment Tax Form Corrections Form W-2 and Form W-3 Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return FUTA Tax Special Rules for Various Types of Employment Trust Fund Recovery Penalty Form 1099-NEC, Nonemployee Compensation Form 1099-MISC, Miscellaneous Information Other Payroll Issues Payroll Recordkeeping Gross-Up Computation Fringe Benefits Supplemental Wages Tip vs. Wage Reporting Employer-Sponsored Health Insurance Labor Laws Fair Labor Standards Act (FLSA) Family and Medical Leave Act (FMLA) Equal Employment Opportunity (EEO) Occupational Safety and Health Act (OSHA) New Hire Reporting Requirements
Tab 24	Business Where to File and Tools
Where to File Business Returns Where to File Individual Returns Private Delivery Services (PDS) Tools for Tax Pros Client Communications Client Organizers Client Tracking Tools/Preparer Tools Consent and Engagement Tax Preparer Worksheets and Tables
Tab 25	Other Business Topics
Learning to Prepare Income Tax Returns for Partnerships/Corporations Starting With Schedule C (Form 1040) Structure and Taxation of Business Entities Greener Pastures Partnership Scenario Effect on Forms 1040 of Partners Corporations Employee Benefit Plan Excise Taxes Return of Excise Taxes Related to Employee Benefit Plans Tax-Exempt Organization Overview Tax-Exempt Filing Requirements for Exempt Organizations Penalties Unrelated Business Income Tax Principal Business or Professional Activity Codes for Corporations and Partnerships Tax-Exempt Organization Search
Tab 26	What's New Business
What's New—2022 and Beyond Vacation Property Rental Subject to Self-Employment Tax Mileage Log Book Tax Home for Business Purposes Reasonable Compensation Cash Payments for Contract Labor Partially Deductible Clothing Resembling Scrubs Deductible as Uniforms Expenses as a Vexatious Litigant Are Not Deductible Business Expenses S Corporation Expense Not Deductible on Shareholder's Return New Beneficial Ownership Information Reporting Rules S Corporation Shares Not Transferred or Abandoned Client Lists Have Value Upon Distribution From a Partnership NOL Deduction Not Substantiated Draft Instructions for Partnership Schedules K-2 and K-3
Tab 27	Starting a Business
Websites Starting a Business Checklist Equal Employment Opportunity Laws Chart Business Entity Attributes Chart Business Entity Comparison Chart Entity Classification Elections (Form 8832) Chart Targeting a Business Plan to a Specific Audience Chart Business Agreements Chart Corporate Transparency Act (CTA) Business Plans Starting a Business The Purpose of a Business Plan Preparation of a Business Plan Organization of the Business Plan Executive Summary Company Description Products and Services Marketing Analysis Operational Plan Management and Organization Funding Financial Projection Forecasting Profit and Loss Use of Budgets in Ongoing Operations Internal Control, Accounting Procedures, and Insurance Internal Control Accounting Procedures Insurance SWOT Analysis Reasons Businesses Fail Going Out of Business Tax Checklist Succession Planning Business Valuation Hiring Practices Avoiding Improper Interview Questions Legal Considerations Truth in Advertising Patents, Trademarks, and Copyrights Contracts Financing—Small Business Administration 7(a) Loan Program Certified Development Company (CDC), 504 Loan Program Microloan Program Disaster Loans State Secretaries of State Contact Information Chart Registering Patents, Trademarks, and Copyrights Chart Book to Tax Adjustments Income per Books vs. Taxable Income Book to Tax Adjustments—Schedule M-1 Chart Contributed Property Depreciation Schedule M-1, Reconciliation of Income (Loss) per Books With Income (Loss) per Return Net Income (Loss) Reconciliation—Schedule M-3
Tab 28	Sales, Dispositions, Liquidations
Tax Treatment for Sellers and Buyers Chart Closing a Business Closing a Business Checklist Cancelling an Employer Identification Number (EIN) —Closing an Account Sale of a Business Sale of Business Assets Asset Acquisition Statement Classes of Assets Sale of a Business Planning Issues Buyer vs. Seller Sale of Stock vs. Sale of Assets Non-Tax Issues Self-Employment Tax—Sale of Business Partnership—Sale of Business Sale of Business Examples C Corporation—Sale of Business Example S Corporation—Sale of Business Example Partnership—Sale of Business Example
Tab 29	Small Business Retirement
Where to Deduct Qualified Pension Plan and IRA Contributions Chart Retirement Plan Limitations Chart Pension Plan Limitations Chart Rollover Chart Pension Plan Characteristics Chart Pension Plan Advantages/Disadvantages Chart Small Business Retirement Plans Benefits for Offering a Retirement Plan IRS Retirement Plans Navigator Definitions IRA Based Plans Individual Retirement Arrangement (IRA) Payroll-Deduction IRA Simplified Employee Pension (SEP) SIMPLE IRA Plan Qualified Plans Qualified Retirement Plans Defined Contribution Plans Defined Benefit Plans IRC Section 414(x) Combined Plans How to Set Up a Qualified Plan Employment Retirement Income Security Act (ERISA) Minimum Funding Requirement Vesting Rules Contributions Employer Deduction 401(k) Plans SIMPLE 401(k) Plan Safe Harbor 401(k) Plan Solo 401(k) Plan Qualified Roth Contribution Program Distributions Rollovers and Transfers Inherited Retirement Plans Prohibited Transactions Plan Errors and Corrections Reporting Requirements Nonqualified Deferred Compensation Plans Nonqualified Deferred Compensation Plans Section 457 Deferred Compensation Plans IRC Section 409A Rules
Tab 30	Employee Health Benefits
HSA Limit Chart HSA Limitations Chart HSA Penalties Chart Where to Deduct Employer HSA Contributions Chart Archer MSA Limitations Chart Medical Fringe Benefit Plans Chart Employer Contributions to Accident and Health Plans Employer-Provided Medical Coverage Employer Mandate COBRA Penalty for Large Employers Credit for Small Employer Health Insurance Premiums Health Reimbursement Arrangement (HRA) HRA Tax Benefits Qualifying for an HRA HRA Contributions HRA Distributions Qualified Small Employer HRA (QSEHRA) Individual Coverage HRA (ICHRA) Flexible Spending Arrangement (FSA) FSA Tax Benefits Qualifying for an FSA FSA Contributions FSA Distributions Health Savings Account (HSA) HSA Tax Benefits HSA Qualifications HSA Contributions Limit on Contributions Rollovers Contribution Deadline Reporting Contributions HSA Distributions Reporting Distributions on the Tax Return Balance in an HSA Death of HSA Holder Employer Participation Medical Savings Account (MSA) Qualifying for an MSA Excess Medical Reimbursements
Tab 31	Business Credits
Assembling Form 3800 Business Expense Reduction for Certain Credits CHIPS Act of 2022 Business Credits Chart COVID-19 Related Tax Credits Credit for Qualified Sick and Family Leave Wages Recapture of Excess Employment Tax Credits COBRA Premium Assistance Credit General Business Credit General Business Credit (Form 3800) Reducing Certain Expenses for Which Credits Are Allowable Alternative Fuel Vehicle Refueling Property Credit (Form 8911) Alternative Motor Vehicle Credit (Form 8910) Biodiesel and Renewable Diesel Fuels Credit (Form 8864) Biofuel Producer Credit (Form 6478) Carbon Oxide Sequestration Credit (Form 8933) Credit for Employer Differential Wage Payments (Form 8932) Credit for Employer-Provided Childcare Facilities and Services (Form 8882) Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips (Form 8846) Credit for Increasing Research Activities (Form 6765) Credit for Small Employer Pension Plan Startup Costs and Auto-Enrollment (Form 8881) Disabled Access Credit (Form 8826) Distilled Spirits Credit (Form 8906) Employer Credit for Paid Family and Medical Leave (Form 8994) Empowerment Zone Employment Credit (Form 8844) Energy Efficient Home Credit (Form 8908) Enhanced Oil Recovery Credit (Form 8830) Indian Employment Credit (Form 8845) Investment Credit (Form 3468) Low-Income Housing Credit (Form 8586) Mine Rescue Team Training Credit (Form 8923) New Markets Tax Credit (Form 8874) Orphan Drug Credit (Form 8820) Qualified Plug-In Electric Drive Motor Vehicle Credit (Form 8936) Qualified Railroad Track Maintenance Credit (Form 8900) Renewable Electricity Production Credit (Form 8835) Credit for Small Employer Health Insurance Premiums (Form 8941) Work Opportunity Credit (Form 5884) Other Credits Credit for Federal Tax Paid on Fuels (Form 4136) Credit for Prior Year Minimum Tax—Corporations (Form 8827)
Tab 32	Tax-Exempt Orgs
Which Form to File User Fees Chart Forms That Must Be Filed Electronically Chart Common Types of Tax-Exempt Organizations Chart Effective Date of Tax-Exempt Status Chart Tax-Exempt Organizations Tax-Exempt Organization Tax-Exempt Common Types of Tax-Exempt Organizations Tax-Exempt Organization Components Tax-Exempt Qualifications Nonqualified Organizations Private Foundations Tax-Exempt Organization Responsibilities Applying for Tax-Exempt Status Types of Applications User Fees Annual Filing Requirements Automatic Revocation Penalties Excise Taxes Employment Tax Returns Information Provided to Donors Donee Information Return Unrelated Business Income Tax Unrelated Business Taxable Income (UBTI) UBTI Exclusions Form 990-T, Exempt Organization Business Income Tax Return 501(c)(3) Organizations Charitable Contributions Articles of Organization Educational Organizations and Private Schools Charitable Organizations Religious Organizations Scientific Organizations Literary Organizations Amateur Athletic Organizations Prevention of Cruelty to Children or Animals Private Foundations 501(c)(3) and Private Foundations Excise Taxes on Private Foundations Governing Instrument Private Operating Foundations 501(c)(4) Civic Leagues and Social Welfare Organizations Qualification for Exemption Homeowners' Associations Other Examples of 501(c)(4) Organizations 501(c)(5) Labor, Agricultural and Horticultural Organizations Labor Organizations Agricultural and Horticultural Organizations 501(c)(6) Business Leagues Examples of Business Leagues Attributes of Business Leagues 501(c)(7) Social and Recreation Clubs Prohibitions Purposes Limitations Non-Membership Income Other 501(c) Tax-Exempt Organizations 501(c)(8) Fraternal Beneficiary Societies 501(c)(9) Voluntary Employees' Beneficiary Associations 501(c)(10) Domestic Fraternal Societies 501(c)(12) Local Benevolent Life Insurance Associations, Mutual Irrigation, Telephone Companies, and Like Organizations 501(c)(13) Cemetery Companies 501(c)(14) Credit Unions 501(c)(17) Supplemental Unemployment Benefit Trusts 501(c)(19) Veterans Organizations 501(c)(21) Black Lung Benefit Trusts 501(c)(25) Title-Holding Corporations 501(c)(26) State-Sponsored High-Risk Health Coverage Organizations 501(c)(27) Qualified State-Sponsored Workers' Compensation Organizations 501(c)(29) Qualified Nonprofit Health Insurance Issuers Tax-Exempt Organization Reference Chart Sample Articles of Organization
Tab 33	Business Audits
Examination Letters Industries/Professions Tax Centers Websites IRS Audit and Appeals Process (IRS Pub. 556) Chart Taxpayer Advocate Service (TAS) Chart Guide to an IRS Audit Taxpayer Bill of Rights IRS Audit Records Conduct of the Audit Audit Strategy Concluding the Audit Appeals Taxpayer Advocate Service Internal Revenue Manual Part 4. Examining Process Examination Workpapers and Initial Interview Sample Initial Interview Questions Worker Classification Misclassified Workers Voluntary Classification Settlement Program IRS Audit Techniques for Businesses IRS Links to Industries and Professions Minimum Income Probes In-Depth Examinations of Income Formal Indirect Methods—IRS Audit Partnership Audit Rules Partnership Distributions—Disguised Sales Audit Techniques Guides (ATGs) Industry Issue Resolution (IIR) Program IIR Program Goal Business Tax Issues Appropriate for IIR IIR Submission Procedures Monitoring of Authorized IRS e-File Providers Acceptance and Monitoring Revocation Sanctioning Administrative Review Process
Tab 34	States Business Tax Summary
Business Return Filing Requirements Sales and Use Tax Tax Rate Schedules State Web Sites Contact Information

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Tab 35	Daycare Providers
Daycare Providers Tab Overview Kith and Kin Family Daycare In-Home Care Reporting Income and Expenses Qualified Business Income Deduction Audit Issues Income Common Daycare Deductions Child and Dependent Care Expenses Independent Contractor vs. Employee Business Use of Home General Rules Exclusive Use Exception for Daycare Facilities Exclusive Use vs. Regular Use Determining Business Percentage Calculating the Allowable Deduction Simplified Method Expenses Related to Tax-Exempt Income Depreciation of the Home Modifications to the Home Sale of the Home Meals Actual Expense Method Standard Meal and Snack Rates Family Daycare Provider Meal and Snack Log
Tab 36	Direct Sellers and Sales Representatives
Direct Sellers and Online Sellers Tax Considerations Direct Selling Overview Types of Direct Selling Companies Direct Seller Online Seller Gross Income Qualified Business Income Deduction Expenses Business Use of Home Business Taxes Accounting Methods Recordkeeping and Substantiation Rules Partnership vs. Sole Proprietorship Schedule C (Form 1040), Profit or Loss From Business Gross Profit Cost of Goods Sold (COGS) Other Income Expense Reporting Net Profit (or Loss) Profit vs. Not-for-Profit Issue—Business or Hobby Activity for Profit Test Court Case: Activity Not Operated For Profit Sales Representatives Qualified Business Income Deduction Travel and Transportation Expenses Meals and Entertainment Gifts Accountable and Nonaccountable Plans Court Case: No Deduction Allowed for Substantial Business Use of RV
Tab 37	Employee Stock Options
Stock Options Statutory Stock Options (ISOs and ESPPs) Incentive Stock Options (ISOs) Employee Stock Purchase Plan (ESPP) Qualified Equity Grants Nonstatutory Stock Options (NSOs) Restricted Property Other Types of Equity-Based Compensation Sale of Employee Stock Options Reporting Examples Stock Option Summary Employee Stock Ownership Plans (ESOPs)
Tab 38	Farmers, Ranchers, and Hobbies
Farmers and Ranchers Common Terms Unique Tax Situations Related Industries Not Covered Farm Inventory Farm Income Weather-Related Sales Rents and Crop Shares Agricultural Program Payments Patronage Dividends Cancellation of Debt Income From Other Sources Income Averaging for Farmers and Fishermen Qualified Business Income Deduction (QBID) Farm Business Expenses Personal and Business Expenses Prepaid Farm Supplies Prepaid Livestock Feed Hired Labor Repairs and Maintenance Breeding Fees Fertilizer and Lime Truck and Car Expenses Marketing Quota Penalties Tenant House Expenses Items Purchased for Resale Capital Expenses Nondeductible Expenses Agricultural Employers Farm Worker Employees vs. Independent Contractors Soil and Water Conservation Expenses Business of Farming Plan Certification Conservation Expenses When to Deduct or Capitalize Depreciation MACRS Section 179 Expense Deduction Special Depreciation Allowance Farm Property Depreciation Methods Gains and Losses Sale of a Farm Section 1231 Gains and Losses Livestock Converted Wetland and Highly Erodible Cropland Timber Sales Condemnation Casualty and Theft Losses Losses From Operating a Farm Self-Employment Tax Income Subject to Self-Employment Tax Self-Employment (SE) Tax Farm Optional Method Estimated Taxes Estimates for Farmers Hobbies Reporting Hobby Income and Expenses Hobby Loss Example Court Cases Hobby Loss Rules Regarding Complete and Accurate Records No Profit Is Not Always a Hobby Welsh Ponies Were a Hobby Hobby Expenses Are Constructive Dividends to Shareholder Hair Braiding Expenses Allowed Music Club Losses Limited by Hobby Loss Rules
Tab 39	Digital Assets
Virtual Currency Common Terms Currency Protocols and Procedures Virtual Currencies Obtaining Virtual Currency Exchanging Virtual Currency Wallets Uses for Virtual Currency Taxation IRS Concerns and Initiatives Tax Reporting Payment Received for Services Payment for Services Property Transactions Reporting Property Transactions Third Party Settlement Organizations Gifting Inheritance Divorce Charitable Contributions Casualty and Theft Losses FinCEN FinCEN Form 114 Money Services Business Enforcement Action
Tab 40	Real Estate and Rental Activities
Residential Rental Real Estate Rental Real Estate Rental Income Rental Expenses Reporting Income and Loss Capital Expense vs. Repair Repair vs. Improvement Depreciation Section 179 Special Depreciation Allowance Repair Regulations Sales and Exchanges Sales and Exchanges Gain or Loss from Sales or Exchanges Nontaxable Exchanges Qualified Opportunity Fund Deferral Election Reporting Gains and Losses Vacation Home Rules Dwelling Unit Used as a Home Court Case: Bolton Method IRS Info Letter—Extreme Makeover: Home Edition TV Reality Show Passive Loss and At-Risk Rules for Rental Real Estate Activities Limits on Rental Losses Material Participation Rental Activities Special $25,000 Rule for Rental Real Estate Grouping Activities Real Estate Professional Form 8582, Passive Activity Loss Limitations At-Risk Rules Court Case: Ballpark Guesstimate Does Not Establish Real Estate Professional Status
Tab 41	Restaurants
Starting a Restaurant Business Employer Identification Number Taxes Imposed on Restaurants Business Expenses Net Operating Loss (NOL) Qualified Business Income Deduction Credits Employee Benefits Recordkeeping Closing a Business Court Case: Credible Testimony Allows Some Deductions Under Cohan Rule Food Inventory Accounting Methods Cost of Goods Sold Food Consumed by Restaurant Employees Contribution of Food Inventory Depreciation, Capitalization, and Expensing Rules for Restaurants Leased Property Section 179 Expense Election Special Depreciation Allowance Remodel or Refresh a Qualified Building Income From Tips Gross Tip Income Reporting Tips to the Employer Reporting Tips on the Tax Return Allocated Tips Employer Reporting of Tip Income Employer Credit for Social Security and Medicare Taxes Recordkeeping for Tip Income Court Case: Records Substantiate Amount of Tip Income The Difference Between a Tip and a Wage

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