Income
96 articles across 7 subsections
Form W-2
6 articles →
Schedule B - Interest and Dividends
8 articles →
Social Security & Retirement Income
12 articles →
Schedule C - Profit or Loss from Business
7 articles →
Schedule D - Capital Gains and Losses
10 articles →
Schedule E - Supplemental Income and Loss
4 articles →
Other Income
38 articles →
Articles in Income
Employer Paid Dependent Care Benefits
Under IRS Code §129, employers can exclude up to $7,500 ($5,000 before 2026) from an employee's wages for a dependent care assistance program.
Form 1099-R - Distribution Due to Death of a Plan Participant
The taxpayer cannot treat the inherited IRA in the same manner as they can treat an IRA that they own otherwise.
Alimony Received
How alimony paid and received is treated in the individual tax return depends on when the divorce or separation agreement was entered into.
Form 1099-MISC, Miscellaneous Information
Form 1099-MISC is used to report a variety of miscellaneous payments to an individual.
Form 6198 - At-Risk Limitations
The at-risk rules place a limit on the dollar amount of any loss that a taxpayer can deduct from their business activities.
How do I Recapture Depreciation?
Some assets, such as buildings and machinery, tend to lose value over time.
Form 1099-G, Box 2 - State and Local Refunds
A refund of state or local income tax paid may in total or in part be considered income in the year that it is received, provided the taxpayer claimed the taxes paid as an itemized deduction on the prior year tax return that is referenced in box 3.
Form 1099-G, Unemployment Compensation
Unemployment compensation can include amounts received under the unemployment compensation laws of the United States or of a state.
Amortization
Amortization is a method of deducting certain capital costs over a fixed period of time, similar to straight-line depreciation.
How Do I Mark an Asset as Listed Property?
Listed property information prints on Form 4562 Part V.
Prior Year Unallowed Loss Carryover
A loss is the excess of allowable deductions from an activity for the year (including depreciation or amortization allowed or allowable and disregarding the at-risk limits) over income received or accrued from the activity during the year.