The forms SSA-1099 and SSA-1042S are not available for people who receive Supplemental Security Income (SSI). A replacement SSA-1099 or SSA-1042S is typic...

Having earned income is a requirement for contributing to a traditional IRA, and your annual contributions to an IRA cannot exceed what you earned that ye...

What types of interest can be deducted. Whether you’re responsible for filing a Form 1040 or a Form 1041, the following types of interest are deductible: ...

How Form 1099-B is used You pay capital gains taxes with your income tax return, using Schedule D. The data from Form 1099-B helps you fill out Schedule D...

The average retired worker gets about $1,555 from Social Security per month, or about $18,660 per year. That’s an interesting stat, but it doesn’t tell yo...

Section 1256 contracts have lower 60/40 tax rates, meaning 60% (including day trades) are taxed at the lower long-term capital gains rate, and 40% are tax...

UBTI is subject to taxation in all varieties of retirement accounts, such as IRAs, retirement plans like Keoghs, and health savings accounts (HSA). Can Ub...

If you decide to lease equipment for your business rather than purchase it, you enter into a lease agreement with the equipment owner or vendor. Similar t...

$102,100 For 2017, the maximum exclusion has increased to $102,100. Don’t include on Form 1040, line 64 (federal income tax withheld), any taxes an employ...

If you are a resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in ...