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1, 2, 3, A, B, C, D, E, EIC, F, H, S, K-1, M-1, M-2, B-2, PH
Start Ship Date: 12/15/22
$109
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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
Federal Tax Rate Schedules
Long-Term Capital Gain and Qualified Dividends Maximum Tax Rates Chart
Social Security Highlights Chart
Qualified Business Income Deduction Thresholds 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
Other Taxes
What's New—Business Chart
Income
Deductions
Taxes
Credits
Filing and Payment Deadlines Extended for Disasters
Other 2020 Disasters
Disaster Tax Relief
COVID-19 Provisions for Individuals
Economic Impact Payments
Unemployment Benefits
Charitable Contributions
Medical Expenses and Non-Prescription Drugs
Emergency Financial Aid Grants
Tax Treatment of Loan Forgiveness under CARES Act
Disaster Relief Payments
Health Coverage for COVID-19 Vaccines
Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals
Eligible Self-Employed Individuals
Credit for Sick Leave
Credit for Family Leave
Credit Limitation Based on SE Income
Credit Reduced if Also an Employee
State and Local Stay-At-Home Orders
Taxpayers to Receive Interest for Delayed Refunds
Premium Tax Credit Proposed Regulations
Deferral of Payroll Taxes
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 2020
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)
Filing Status
Same-Sex Marriage
Single
Married Filing Jointly (MFJ)
Married Filing Separately (MFS)
Head of Household (HOH)
Qualifying Widow(er) (QW)
Filing Status Chart
Dependents
Dependent Defined
Qualifying Child of More than One Person
Release of Child to Noncustodial Parent
(Release of Claim to Exemption)
Multiple Support Agreements
Exceptions to Time Lived With Taxpayer
Other Dependency Rules
Dependency Tests
Single Parent Situations
Deductions
Standard Deduction
Charitable Contribution Deduction
Qualified Business Income Deduction (QBID)
Income (Form 1040)
Wages
Tip Reporting
Excess Salary Deferrals
Interest and Dividend Income
Retirement Distributions
Social Security Lump-Sum Payments
Capital Gain or Loss
Recoveries
State and Local Income Tax Refund
Alimony Received
Unemployment Compensation
Other Income
Disability Payments and Sick Pay
Imputed Interest on Below-Market Loans
Lawsuit Settlements and Awards
Life Insurance
Notary Public
Fiduciaries
Nontaxable Income
Foster Care Payments
Public Safety Officers
Adjustments to Income
Educator Expenses
Health Savings Accounts (HSAs)
Moving Expenses
Penalty on Early Withdrawal of Savings
Alimony Paid
Write-In Adjustments
Other Adjustments
Taxes
Income Tax
Additional Taxes
Other Taxes
Additional Medicare Tax
Credits and Payments
Credits
Excess Social Security and RRTA Tax Withheld
COVID-19 Credits and Deferrals
Repayments
Withholdings
Estimated Tax Payments
Payments by Married Taxpayers
Estate or Trust Beneficiaries
Refund or Amount Due
Delayed Refunds for Returns Claiming Certain Credits
Refund Offsets
Direct Deposit
Applied to 2021 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
Medical Expenses
Taxes Paid—Itemized Deductions Chart
Fair Market Value Guide for Used Items
Recordkeeping Rules for Charitable Contributions
Medical Expenses
AGI Limit for Medical Expenses
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
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
Other Taxes
Interest Paid—Itemized Deductions
Interest Expense
Home Mortgage Interest
Deductible Mortgage Interest Amount
Qualified Home
Election to Treat Mortgage Interest as Not Secured by the Home
Legal Liability to Make 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 Deduction
Future Interest in Property
When Contributions Are Deductible
Charitable Contributions Deduction Limitations
Charitable Contributions of IRA Distributions
Vehicles, Boats, and Airplanes
Recordkeeping Rules for Charitable Contributions
Casualty and Theft Losses
Deductible Losses
How to Report Casualties and Thefts
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 Providers Standard 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
Calculation Methods for Business Use of Home
Simplified Method
Regular Method
Reporting Expenses for Business Use of the Home
Sole Proprietorships
Daycare Providers—Deducting Meals
Authors, Artists, and Musicians
Sharing Economy (Uber, Lyft, Airbnb, etc.)
Foster Care Business
Kids in Business—Paper Routes, Babysitting, and Lawn Mowing
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 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
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
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 (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 (IRC §1091)
Demutualization of Life Insurance Companies
Short Sales
Calls and Puts
Straddles
Classifying Investors and Traders
Reporting Rules—Investors, Traders, and Dealers
Qualified Opportunity Fund Deferral Election
Virtual Currency 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
Employee Stock Options
Statutory Stock Options (ISOs)
Employee Stock Purchase Plan (ESPPs)
Nonstatutory Stock Options
Sale of Principal Residence
Determining Basis in a Residence
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
Cancellation of Debt
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
Abandonment—Foreclosure or Repossession
Reduction of Tax Attributes (Form 982)
Qualified Real Property Business Debt
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—Airbnb
Allocating Expenses: Personal vs. Rental
Rented 14 Days or Less
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
Net Operating Loss (NOL) Chart
QBID—2020 Threshold Amounts and Phase-In Ranges Chart
Amortization Chart
Per Diem Rates
Per Diem Rates/High-Low Method
Truckers/Transportation Industry Chart
Business Deductions
Ordinary and Necessary Business Expenses
Limits on Business Deductions
Services in Trade
Bad Debts
Barrier Removal Costs
Capital Costs
Circulation Expenses
Election to Capitalize Carrying Charges
Cell Phones
Demolition Expenses
Education Expenses
Gifts
Insurance
Intangible Drilling Costs
Life Insurance
Marijuana Sales
Office Expense
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
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
Identifying Inventory Items
Valuing Inventory
Goods That Cannot Be Sold
Loss of Inventory
Uniform Capitalization (UNICAP) Rules
Qualified Business Income Deduction (QBID)—IRC §199A
Qualified Business Income Deduction (QBID)
Qualified Trades or Businesses
Threshold Amount
Qualified Business Income Deduction (QBID) Flowchart
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/Organization 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
Exception to the Accrual Method Rule for Inventory
Hybrid
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
Half-Year Convention Depreciation Rates
MACRS Recovery Periods Chart
Form 4562, Depreciation and Amortization
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)
Comparison of MACRS Depreciation Methods
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 Carryover
Section 179 Recapture
Special Depreciation Allowance
Special Depreciation Allowance (Bonus Depreciation)
Qualified Improvement Property
Cost Recovery for Qualified Improvement Property
Repairs and 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
Recovering the Cost of Computer Software
General Asset Account (GAA)
GAA Election
Depreciation Adjustments for Alternative Minimum Tax
AMT Depreciation Adjustments
Correcting Depreciation Errors
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
Renewable Electricity, Refined Coal, and Indian Coal 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 Chart
User Fees Chart
Effective Date of Tax-Exempt Status Chart
Common Types of Tax-Exempt Organizations Chart
Tax-Exempt Organizations
Tax-Exempt Organization
Tax-Exempt
Common Types of Exempt Organizations
Exempt Organization Components
Tax-Exempt Qualifications
Nonqualified Organizations
Private Foundations
Exempt Organization Responsibilities
Applying for Exempt Status
Types of Applications
User Fees
Annual Filing Requirements
Annual Information Returns
Automatic Revocation
Penalties
Excise Taxes
Unrelated Business Income Tax
Unrelated Business Taxable Income (UBTI)
UBTI Exclusions
Form 990-T, Exempt Organization Business Income Tax Return
Tax-Exempt Organization Reference Chart
Tab 33
Business Audit Strategies
Websites
Industries/Professions Tax Centers
Examination Letters
IRS Audit and Appeals Process Chart
Guide to an IRS Audit
Taxpayer Bill of Rights
IRS Audit
Audit Process
Records
The Audit
Examination Workpapers and Initial Interview
Sample Initial Interview Questions
Worker Classification
Voluntary Classification Settlement Program
Minimum Income Probes
In-Depth Examinations of Income
Formal Indirect Methods—IRS Audit
IRS Audit Techniques for Businesses
IRS Links to Industries and Professions
Partnership Audit Rules
Partnership Distributions—Disguised Sales
Activities Not Engaged in For Profit
Cash Intensive Businesses
Daycare Provider Expenses
Excise Tax on Indoor Tanning
Nonqualified Deferred Compensation
Capitalization of Tangible Property
Cost Segregation
Farmers—Income
General Livestock
Monitoring of Authorized IRS e-File Providers
Industry Issue Resolution (IIR) Program
IIR Program Goal
Business Tax Issues Appropriate for IIR
IIR Submission Procedures
Tab 34
States Business Tax Summary
Websites
Industries/Professions Tax Centers
Examination Letters
IRS Audit and Appeals Process Chart
Guide to an IRS Audit
Taxpayer Bill of Rights
IRS Audit
Audit Process
Records
The Audit
Examination Workpapers and Initial Interview
Sample Initial Interview Questions
Worker Classification
Voluntary Classification Settlement Program
Minimum Income Probes
In-Depth Examinations of Income
Formal Indirect Methods—IRS Audit
IRS Audit Techniques for Businesses
IRS Links to Industries and Professions
Partnership Audit Rules
Partnership Distributions—Disguised Sales
Activities Not Engaged in For Profit
Cash Intensive Businesses
Daycare Provider Expenses
Excise Tax on Indoor Tanning
Nonqualified Deferred Compensation
Capitalization of Tangible Property
Cost Segregation
Farmers—Income
General Livestock
Monitoring of Authorized IRS e-File Providers
Industry Issue Resolution (IIR) Program
IIR Program Goal
Business Tax Issues Appropriate for IIR
IIR Submission Procedures
Deluxe Supplement Coverage
Tab
Tab Title
1040 Edition
Deluxe Edition Plus
Deluxe Supplement
Small Business
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
Regular Use vs. Exclusive 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
Direct Selling Overview
Tax Considerations for Direct Sellers
Types of Direct Selling Companies
Direct Seller
Gross Income
Qualified Business Income Deduction
Direct Seller 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
Expenses
Net Profit (or Loss)
Profit vs. Not-for-Profit Issue—Business or Hobby
Activity for Profit Test
Court Case
Sales Representatives
Qualified Business Income Deduction
Travel and Transportation Expenses
Meals and Entertainment
Gifts
Accountable and Nonaccountable Plans
No Deduction Allowed for Substantial Business Use of RV
Tab 37
Employee Stock Options
Stock Options
Employee Stock Options
Nonstatutory Stock Options
Statutory Stock Options (ISOs and ESPPs)
Incentive Stock Options (ISOs)
Employee Stock Purchase Plan (ESPP)
Qualified Equity Grants
Restricted Property
Sale of Employee Stock Options Reporting Examples
Tax Treatment of Stock Options
Employee Stock Ownership Plans (ESOPs)
Tab 38
Farmers, Ranchers, and Hobbies
Farmers and Ranchers
Common Terms
Unique Tax Situations
Related Industries Not Covered
Farm Accounting Methods
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)
Self-Employment Tax
Income Subject to Self-Employment Tax
Self-Employment Tax
Farm Optional Method
Estimated Taxes
Estimates for Farmers
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
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
Virtual Currency
Virtual Currency
Common Terms
Currency
Protocols and Procedures
Virtual Currencies
Obtaining Virtual Currency
Exchanging Virtual Currency
Wallets
Uses for Virtual Currency
Taxation
Common Terms
IRS Concerns and Initiatives
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
Foreign Accounts and Trusts
FinCEN
FinCEN Form 114
Money Service Businesses
Enforcement Action
Tab 40
Real Estate and Rental Activities
Residential Rental Real Estate
Rental Income
Rental Expenses
Capital Expense vs. Repair
Depreciation
Section 179
Repair Regulations
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
Type of Business Entity
Employer Identification Number
Taxes Imposed on Restaurants
Business Expenses
Qualified Business Income Deduction
Recordkeeping
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
Time is Money
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Tax Industry News
Find coverage of new legislation and industry news.
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Free Online CPE Hours
Purchase any title from TheTaxBook Series, or a WebLibrary User, and receive free Online CPE Hours for each product purchased. Online CPE Hours do not expire.
Product
Free Online CPE Hours
TheTaxBook Series
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WebLibrary Plus 1st User
5 hours per 1st user
Additional WebLibrary Plus User
1 hour per additional user
WebLibrary 1st User
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Additional WebLibrary User
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Tools for Tax Pros
Electronic printable documents tax professionals use to provide disclosures, recordkeeping, substantiation, and more.
Tax Organizers: Individual, Sole Proprietor, LLC, C Corporation, S Corporation
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TheTaxBook Updates
Find a listing of pages in TheTaxBook affected by new tax law. Updates provided in PDF format for easy printing.
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Tabbed Index
Book includes a separately tabbed index with extensive page references.
More page references means less time searching for your answer.
Table of Contents
Each tab section includes a detailed Table of Contents on the first page.
Go right to a tab to find your answer!
Sturdy Binder and Tough Cover
You will reference your book often. The book is designed to withstand hard use.
All Editions are 3-Hole Punched
In addition to the traditional red binding, TheTaxBook is also 3-hole punched.
You can keep the book as is or remove the red binding
to place the entire book into a 3-ring binder.