Tax Reference

Individual Tax

Income taxation, credits, deductions, and compliance for individuals. Every guide traced to a specific IRC section.
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Individual tax law covers everything from calculating your basic income tax liability to the complex interaction of the alternative minimum tax, net investment income tax, and self-employment tax. This section covers the mechanics that matter most for individual filers - from the basics to the rules that trip up even experienced practitioners.

Rates, AMT & NIIT
Calculator
Tax Estimator 2026
Federal income tax with all 50 states. Brackets, standard deduction, credits.
Guide
Alternative Minimum Tax (AMT)
AMTI computation, ISO trap, exemptions, §53 credit.
Calculator
AMT Calculator
Estimate your 2026 AMT exposure.
Guide
Net Investment Income Tax (NIIT)
3.8% on investment income above MAGI thresholds.
Guide
Social Security Taxation
85% inclusion, provisional income, torpedo zone.
Guide
Individual AMT 2026 Under OBBBA
AMT exemptions made permanent at TCJA-doubled levels. 2026 joint phaseout RESET to $1,000,000. Phaseout rate DOUBLED to 50%. SALT cap $40K means larger add-back for AMT. ISO bargain element preference §56(b)(3). §53 Minimum Tax Credit recovery (timing items only). State AMTs (CA, IA, MN). Form 6251.
Self-Employment & Business Income
Guide
Self-Employment Tax
15.3% SE tax, S-corp election, §162(l) health insurance, SEP/Solo 401(k).
Guide
Hobby Loss Rules
IRC §183, nine-factor test, 3-of-5 presumption.
Guide
Net Operating Loss
§172, 80% limit, §461(l) excess business loss.
Guide
Passive Activity Loss
IRC §469, material participation, suspended losses.
Guide
At-Risk Rules
IRC §465, recourse vs. nonrecourse, ordering with §469.
Filing & Compliance
Calculator
Penalty Calculator
Failure to file, failure to pay, estimated tax penalties.
Guide
Tax Extension Guide
Form 4868, payment requirements, state extensions.
Guide
IRS Payments Guide
Payment methods, installment agreements, OIC.
Calculator
W-4 Optimizer
Withholding calculator to avoid underpayment.
Guide
Tax Calendar 2026
All federal filing deadlines for individuals and businesses.
Guide
Form 1098, 1098-T, 1098-E
Mortgage interest, tuition, student loan reporting. OBBBA permanent $750K cap and PMI restored.
Additional Resources
Guide
Alimony Tax (Post-TCJA)
TCJA eliminated deduction for post-2018 divorces; modification trap.
Guide
Medical Expense Deduction
7.5% AGI floor, LTC premiums by age, bunching strategy.
Guide
Military Tax
Combat pay, BAH/BAS exclusions, PCS moving deduction, SCRA.
Guide
Clergy Housing Allowance §107
Tax-free housing allowance for ministers; SE tax still applies.
Guide
Scholarship Tax §117
Tuition excluded; room/board taxable; service stipends are wages.
Guide
Net Investment Income Tax 3.8%
NIIT on passive income above $200K/$250K threshold.
Guide
§83(b) Election
30-day deadline to lock in capital gain treatment on startup stock.
Guide
ESPP Tax Guide
Qualifying vs. disqualifying disposition; basis trap warning.
Guide
Startup Equity Tax
ISO, NSO, restricted stock, RSU, QSBS comparison.
Guide
Filing Status Guide
MFJ, HOH, single, MFS, surviving spouse - 2026 amounts.
Guide
Itemized Deductions
SALT $10K cap, mortgage interest, charitable, medical.
Credits & Deductions - 2026
Guide
Earned Income Credit
Up to $7,830 refundable - §32 eligibility, investment income cap, childless worker.
Guide
Education Credits
AOTC $2,500 (40% refundable), LLC $2,000, student loan interest, 529 coordination.
Guide
Child Tax Credit
$2,200 per child (OBBBA), $1,700 refundable ACTC, dependent care credit.
Guide
HSA Guide
$4,400/$8,750 2026 limits, HDHP rules, triple tax benefit, Medicare coordination.
Guide
Home Office Deduction
§280A exclusive use test, simplified $5/sqft, actual expense, home sale depreciation trap.
New 2026
OBBBA: Tips, Overtime & Auto
New deductions for qualified tips, overtime pay, auto loan interest, Trump Accounts.
Guide
OBBBA Personal Deductions (Schedule 1-A)
Four new personal deductions 2025-2028. Senior $6,000 bonus (65+, phaseout $75K/$150K). Tips up to $25,000. Overtime FLSA premium $12,500/$25,000 MFJ. Auto loan interest $10,000 (US-assembled). Below-the-line. SSTB excluded for tips. All sunset 2028.
Guide
OBBBA SALT Cap $40,000
OBBBA §70120 raised SALT cap from $10K to $40K for 2025; $40,400 (2026); 1% annually through 2029; reverts to $10K in 2030. MAGI phaseout begins $500K (single/MFJ) / $250K (MFS) at 30% rate; floor $10,000. PTET preserved as workaround. AMT interaction. 5% top-bracket haircut replaces Pease.
Life Events & Special Situations
Guide
Divorce & Taxes
TCJA alimony, §1041 property transfers, QDRO, filing status change, §121 home sale.
Guide
Gambling Income & Losses
All winnings taxable, session method, losses limited to winnings if itemizing.
Guide
Cancellation of Debt
§108 exclusions, insolvency test, Form 982, mortgage forgiveness.
Guide
Social Security Timing
Age 62/67/70 breakeven, spousal/survivor optimization, §86 taxation.
Guide
Medicare & IRMAA
Two-year lookback, 2026 premium brackets, SSA-44 appeal, Roth planning.
Guide
Can't Pay Your Taxes
Installment agreements, OIC, CNC hardship, penalty abatement.
Guide
Kiddie Tax §1(g)
$2,500 threshold 2026, parent's rate on child's unearned income, student age-24 rule.
Guide
FSA & Dependent Care Credit
Health FSA $3,400, DCFSA $5,000, §21 credit coordination rule.
Guide
Passive Loss Grouping Elections
§469 grouping, appropriate economic unit, real estate professional election.
Guide
Annuity Tax Treatment §72
Exclusion ratio, LIFO partial withdrawals, §1035 exchange.
Guide
Household Employee / Nanny Tax
Schedule H, $2,800 threshold, FICA, why 1099 is wrong.
Guide
W-2 vs. K-1
Withholding vs. self-reporting, SE tax on K-1, S-corp W-2 requirement.
Guide
§409A Deferred Compensation
Non-qualified deferred comp rules, 20% excise tax, 6 permissible triggers.
Guide
Foreign Currency §988
Ordinary income/loss on currency, bank accounts, §988(e) capital election.
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