Tax guidance, plainly explained

If you use your home as a home and rent it for fewer than 15 days, you do not include the rent in income. Learn the personal-use test and the rules.

Part of a pension or annuity payment may be a return of your cost. Learn who must use the simplified method and how Worksheet A works.

Parents can sometimes report a child's interest and dividends on their own return using Form 8814. Learn the child and parent rules.

A nonbusiness bad debt is a loan that was never repaid. Learn the totally worthless rule, the loan-or-gift test, and how to report it on Form 8949.

A minister's housing allowance can be excluded from income tax, within limits. It stays in the base for self-employment tax. See Publication 517.

For 2025 the standard medical mileage rate is 21 cents a mile. Learn which trips count, the parking and tolls you can add, and where it goes.

Medical costs count only if you itemize, and only the part above 7.5% of your adjusted gross income counts. Learn the rules and records.

Most life insurance payouts after a death are not taxable. Learn when the payment is taxable, how installments work, and when interest counts.

Jury duty pay is taxable income. Learn where to report it on Schedule 1 and how the rule for pay you give back to your employer works.

Move retirement money without current tax by finishing the rollover within 60 days. Learn the time limit, the waiver, and the one-year waiting period.

Interest on money borrowed to buy investments can be deducted up to your net investment income. Learn how Form 4952 and the limit work.

If you get at least one payment after the year of a sale, you may report part of the gain as payments arrive. Learn the basics of Form 6252.

Publication 530 separates repairs from improvements. Learn which costs add to your home's basis, which items lower it, and what records to keep.

Income from a hobby is taxable. Learn where to report it, why a hobby loss cannot offset other income, and how the IRS tells a hobby from a business.

Most property you receive as a gift or inheritance is not income. Learn when the income it produces is taxable and how payments for services work.

Payments for caring for a foster child or adult in your home are often excluded from income. Learn the age limits and when payments are taxable.

Form 1099-S reports the gross proceeds from certain real estate sales. Learn who sends it, what the boxes show, and when you must report the sale.

Form 1099-DA reports gross proceeds from some digital asset sales. Learn what the broker reports for 2025, what may be missing, and where the sale goes.

Form 1099-B shows what you received when you sold stocks, bonds, or funds through a broker. Learn each box and where it goes on Form 8949.

Form 1098-E shows the student loan interest you paid in a year. Learn who sends it, when, and what to do if you did not get one.

Form 1095-C is a statement from some employers about the health coverage they offered. Learn who gets it, what it shows, and how it links to your return.

The IRS lists five filing statuses. Learn how your marital status on December 31 sets the choice, and what each status requires.

After a death, the estate can be a separate taxpayer. Learn when Form 1041 is required, the $600 rule, Form 56, and how the final return differs.

Up to $5,250 a year of employer education help can be excluded from income. Learn what it covers, what goes over the limit, and how to check your W-2.

Employer reimbursements for medical care are generally not taxable. Learn how they can reduce your medical deduction and when they count as income.

Meals and lodging your employer gives you may not be taxable. Learn the three tests, the campus lodging rent rule, and an example.

Dependent care help from your employer can be excluded from income up to a yearly limit. Learn what counts, how box 10 works, and what to check.

Adoption expenses your employer pays may be excluded from income. Learn how box 12 code T works, how Form 8839 applies, and what records to keep.

Some disaster relief payments can be excluded from income. Learn the four payment types, the insurance rule, and the wildfire and mitigation rules.

Disability pensions paid under an employer plan are usually taxable. Learn the minimum retirement age rule and when payments become a regular pension.

The credit for the elderly or the disabled covers people 65 or older and some people under 65 on disability. Learn the age and income rules.

A Coverdell ESA is an account for education costs. Learn the $2,000 yearly limit, the income limits, the age 30 rule, and when withdrawals are taxable.

When the government takes your property, the payment is a condemnation award. Learn when the gain is taxable and how replacement property can postpone it.

Pay for military service in a designated combat zone can be excluded from income. Learn which months count, how rank matters, and how it shows on Form W-2.

Charitable gifts are limited to a share of your AGI. Learn how Publication 526 sets the 60%, 50%, 30%, and 20% limits and the 5-year carryover.

Travel costs can be deductible only when you are away from your tax home for business. Learn the rest rule, the one-year test, and the 50% meal limit.

Bonuses and awards from your employer are generally income. Learn how prizes are valued, when a promised bonus counts, and the award limit.

If you pay more than a bond will repay, the extra is bond premium. Learn how amortization lowers interest income and your basis in the bond.

Trading goods or services without cash is bartering. Learn how the IRS measures the value you receive and where it goes on your return.

In chapter 7 or 11 bankruptcy, the bankruptcy estate can file its own Form 1041. Learn the 2025 filing threshold and how canceled debt is treated.