Table of Contents
Chapter
1 Changes in Various Limits
Business
Use of a Taxpayers Personal Vehicle
Personal
Vehicle for Charitable Purposes
Use
of a Taxpayers Personal Vehicle to Obtain Medical Care
Use
of a Taxpayers Personal Vehicle to Move
Standard
Deduction for Blind and Senior Taxpayers
Standard
Deduction Eligibility
Tax
Preference Items Added Back to Produce Alternative Minimum Taxable Income
Alternative
Minimum Tax Exemption Amount Increased
Education
Savings Bond Program
Eligible
Educational Institutions
Qualified
Education Expenses Reduced by Certain Tax-free Benefits Received
Education
Savings Bond Program Eligibility Subject to Income Limits/Filing Status
Determining
Taxpayers Modified Adjusted Gross Income
Limitation
on Itemized Deductions
Qualified
Long-Term Care Insurance Premiums and Benefits
Favorable
Benefits Tax Treatment Reserved for Chronically-Ill
Tax-Qualified
Long Term Care Premiums Deductible within Limits
Tax-Qualified
Long Term Care Insurance Benefits Tax-Free within Limits
Social
Security Taxable Earnings Limit
Maximum
Capital Gain/Dividend Tax Rate Increased for High-Income Taxpayers
Retirement
Savings Contribution Credit
Savers
Credit Applicable to Range of Retirement Contributions
Savers
Credit Eligibility Based on Income and Filing Status
EIC
Rules Applicable to Everyone
Valid
Social Security Number Required
EIC
Rules That Apply if Taxpayer Has a Qualifying Child
Relationship,
Age, Residence and Joint Return Tests
Qualifying
Child of More than One Person Rule
Taxpayer
as the Qualifying Child of Another Taxpayer Rule
EIC
Rules That Apply if Taxpayer Does Not Have a Qualifying Child
The
Dependent of Another Person Rule
The
Qualifying Child of Another Taxpayer Rule
Figuring
the Amount of the Earned Income Credit
Timing
of the Credit/Exclusion
Benefit
Phased-Out at Higher Taxpayer MAGI
Chapter
3 PPACA-Related Tax Changes
Summary
of Existing PPACA-Related Tax Requirements
Health
Flexible Spending Arrangement Contributions
PPACAs
Individual Shared Responsibility Provision
Taxpayer
Options Under the Shared Responsibility Provision
Individual
Health Insurance Coverage
Coverage
Under Government-Sponsored Programs
Limited
Benefit Coverage May Not Provide Minimum Essential Coverage
Exemptions
from Penalty for Failure to Maintain Minimum Essential Coverage
Gaps
in Coverage Shorter Than Three Consecutive Months
Exemption
for Lack of Affordable Coverage
Qualifying
for a Statutory Exemption
Individual
Shared Responsibility Payment
Refundable
Premium Tax Credit to Assist in Purchase of Qualified Health Plan
Taxpayers
Expected Contribution
Special
Rules Applicable to the Tax Credit
Reconciling
Advance Premium Tax Credits
Limitations
Affect Health Insurance Premium Credit
Full-Time
Equivalent Employee (FTE) Limitation
Average
Annual Wage Limitation
State
Premium Subsidy and Tax Credit Limitation
Large
Employer Shared Responsibility: The Employer Mandate
Employers
Not Offering Coverage
Chapter
4 Changes in Archer MSAs, HSAs & IRAs
High Deductible Health Plan
Requirement
Penalty
for Excess Contributions
Special
Rules for Employer-Installed MSAs
Account
Transfer Incident to Divorce
Archer
MSA Distribution Tax Penalty
HSA High Deductible Health Plan
Requirement
HSA
Contributions from Multiple Sources
Additional
Contributions for Age 55 and Older Account Holders
First-Year
Contributions for New Account Holders
Maximum
HSA Contributions may be Reduced
Penalty
for Excess Contributions
Account
Transfer Incident to Divorce
Modified
Adjusted Gross Income
Traditional
IRA Contributions by Active Participants
Tax
Treatment of Contributions by Active Participants
Reduced
Deductibility of Traditional IRA Contributions for Active Participants
Chapter
5 Tax Cuts and Jobs Act: Principal Individual Taxpayer Changes
Individual
Responsibility Penalty under ACA
Chapter
1 Review Questions Feedback
Chapter
2 Review Questions Feedback
Chapter
3 Review Questions Feedback
Chapter
4 Review Questions Feedback
Chapter
5 Review Questions Feedback
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