What's my Status?
This status is generally the most beneficial for married couples.
What is Married Filing Jointly?
What is Form 8949?
This gift type is not considered taxable to the recipient.
What is a cash gift?
Contributions to this account for healthcare are deductible if eligible.
What is a Health Savings Account (HSA)
A taxpayer qualifies as head of household if they have a qualifying person and paid this much of household cost.
What is more than half?
What is self-employment income?
This schedule summarizes capital gains and losses and flows to the 1040.
What is Schedule D?
Proceeds from this are excluded from income if certain requirements are met, such as two-year use and ownership.
What is the sale of a principal residence?
Teachers can deduct up to this amount in unreimbursed classroom expenses in 2024.
What is #300?
This test requires that a qualifying child be under age 19 (or 24 if a full-time student).
What is the age test?
Taxpayers must report gambling winnings as income on this schedule.
What is Schedule 1 (Form 1040)
A capital loss deduction is limited to this amount per year for individuals.
What is $3,000 ($1,500 MFS)
These benefits for injury or sickness paid through workers comp are tax-free.
What is workers' compensation?
This type of alimony is no longer deductible for divorce agreements made after 2018?
What is alimony paid under post-2018 divorce decrees?
A qualifying relative must have gross income less than this amount in 2024.
What is $4,700?
The fair market value of this type of compensation must be included in income?
What is bartered income?
If the basis of a sold asset is more than the sales price, the result is classified as this.
What is a capital loss?
These types of municipal bonds generate interest that is generally tax-exempt.
What are state and local government bonds?
A taxpayer may deduct this type of loan interest, up to $2,500.
What is student loan interest?
Scholarships used for tuition are tax-free, but funds used for this are taxable.
What are room and board?
This rule prevents taxpayers from claiming a loss if they repurchase substantially identical stock within 30 days before or after the sale.
What is the wash sale rule?
This fringe benefit, if under $50/month for transportation, may be excluded from income.
What is qualified transportation fringe benefit?
A self-employed taxpayer can deduct 100% of this as an adjustment to income.
What is self-employed health insurance?