Tax guidance, plainly explained

Got a Form 1099-QA for an ABLE account? Learn what boxes 1 to 6 mean, when a distribution is not taxable, and when Form 5329 may apply.

Form 1099-OID reports original issue discount on bonds, notes, and some CDs. Learn what boxes 1 through 4 mean and how to report them.

Form 1099-MISC reports rent, prizes, and other payments of $600 or more. Learn what the form covers and where the amounts go on your return.

Form 1099-LTC reports long-term care and accelerated death benefits paid. Learn what each box means and which copy you get.

Form 1099-H reports health coverage tax credit advance payments made for you. Learn what each box shows and what to check.

Form 1099-DIV Box 7 shows foreign tax paid on your dividends. Learn Box 8 and the rule that can skip Form 1116 for small amounts.

Form 1099-CAP reports cash or stock you received when a corporation changes control or its capital structure. See the boxes and steps.

Got a Form 1099-A? Learn what the boxes mean, when a lender sends it, and how a foreclosure or abandonment can affect your return.

Form 1098-Q reports details of a qualifying longevity annuity contract (QLAC). Learn what each box shows and what to check.

Form 1098-F reports amounts tied to a court order, settlement, or agreement about a violation of law. Learn each box and what to check.

Form 1098-C reports a donated car, boat, or airplane. Learn what each box shows and when you must attach Copy B to your return.

Form 1095-B reports health coverage for you and your tax family. Learn who sends it, how it differs from 1095-A and 1095-C, and what to keep.

Form 1040-V is the payment voucher you send with a check for your balance due. Learn how to fill it in, prepare the check, and mail it.

Income tax you paid to another country may reduce your U.S. tax. Learn when Form 1116 is needed and when a simpler $300 or $600 rule may apply.

Learn the 2025 federal estate tax filing threshold, the Form 706 due date, portability, and how state inheritance taxes differ.

Putting more into an IRA than the yearly limit can trigger a 6% tax. Learn how to withdraw the excess by the deadline and report it.

Eligible K-12 teachers and aides can deduct up to $300 of classroom costs paid out of pocket. Learn who qualifies and what counts.

Taking money out of a retirement account before 59½ can trigger an extra 10% tax. Learn the basic rule, the common exceptions, and how to report them.

Since 2018, most personal casualty and theft losses are deductible only if a federally declared disaster caused them. Learn the limits and Form 4684.

The alternative minimum tax can apply when certain tax benefits are large. Learn how it is figured, the 2025 exemption amounts, and Form 6251.

Higher earners may owe an extra 0.9% Medicare tax on wages or self-employment income above a threshold. Learn the limits and where Form 8959 goes.

ABLE accounts let eligible people save for disability costs with tax benefits. Learn the 2025 contribution limit, the 10% tax, and the forms to keep.

AGI is your total income minus certain adjustments. See where it sits on Form 1040, how it is figured, and why many credits check it.

A tax transcript summarizes your IRS records. It is not a copy of your return. Learn the five types and how to get one.

A traditional IRA contribution may lower your taxable income. Learn how contributing differs from deducting, and which rules limit the deduction.

Deduct up to $2,500 of student loan interest, even without itemizing. See the 2026 income phase-out limits from Revenue Procedure 2025-32.

A federal return goes to the IRS and a state return goes to your state's tax agency. Learn why they differ and where to check your rules.

A state tax refund may be taxable if you deducted state tax the year before. Box 2 of Form 1099-G shows the amount. Learn how to check.

How the IRS decides whether Social Security is taxable: Form SSA-1099, the $25,000 and $32,000 base amounts, the 50% and 85% tiers, and a worked example.

Self-employment tax covers Social Security and Medicare for people who work for themselves. Learn the 15.3% rate and when to file Schedule SE.

The Saver's Credit can lower your tax when you put money into an IRA or workplace plan. Learn who qualifies and the 50%, 20%, and 10% rates.

How the SALT deduction cap works for tax years 2025 and 2026, the income phase-down, which state and local taxes count, and when itemizing helps.

How Roth and traditional IRAs differ on deductions, withdrawals, and required distributions, with 2026 limits from IRS.gov.

The 30% residential clean energy credit covered solar, wind, geothermal, fuel cell, and battery systems installed through 2025. Learn the rules.

What a required minimum distribution is, the SECURE 2.0 age rules (73 or 75), when the first one is due, and how the amount is figured.

Rent you receive is generally taxable income. Schedule E reports rental income and expenses. Learn what counts and what to keep.

A debt can reduce your federal refund. If you filed jointly, Form 8379 may return your share. Learn who may qualify and how the form works.

The IRS sorts dependents into two groups, and each group has its own tests. Learn the rules for each, with links to IRS pages.

How the 2025 no tax on tips and overtime deductions work: eligibility, caps, income phase-outs, W-2 and 1099 reporting, and Schedule 1-A.

How the mortgage interest deduction works: the $750,000 limit, points, home equity loan rules, Form 1098, Schedule A, and when itemizing helps.