Table of Contents
Chapter 1 - 2018/2017 Easy Update & Inflation
Adjustments - Section 1
Marriage Penalty - Mostly Gone
Capital Gain & Qualified Dividend Rate
Innocent Spouse Relief - §6015(f)
Personal Exemptions & Phaseout (Suspended) -
§151
Limitation on Itemized Deductions - §68
Itemized Deductions Subject to 2% Floor Fully
Denied
Unearned Income of Children ("Kiddie
Tax") - §1(g)
Exemption Amounts & Permanent “Patch” -
§55(d)(1)
AMT Exemption Phaseout - §55(d) & §59(j)
Wage Base for Social Security & Medicare
Taxes
Earned Income Tax Credit - §32
Chapter 1 - Section 1 - Review Questions
Chapter 1 - 2018/2017 Easy Update & Inflation
Adjustments - Section 2
Child & Dependent Care Expenses Tax Credit -
§21
Alimony Payment Deduction Repealed
Moving Expense Deduction & Reimbursement
Repealed
State & Local Taxes (SALT) Limited
Charitable Contributions Modified
College Athletic Event Seating Rights Repealed
Substantiation Exception for Donee Reported
Contributions Repealed
Mortgage Interest Deduction Limited
Securities Rollover Into SSBICs Repealed
Discharge Of Student Loan Indebtedness Expanded
Higher Education Tuition Deduction (Expired) -
§222
Tax on Net Investment Income - §1411
Reduced Home Sale Exclusion For Nonqualified Use
- §121
Surviving Spouse Home Sale Exclusion - §121
Insubstantial Benefit Charitable Contribution
Limitation - §513
Education Savings Accounts - §530 & §529
Rollovers Between §529 Tuition & ABLE
Programs
Chapter 1 - Section 2 - Review Questions
Chapter 1 - 2018/2017 Easy Update & Inflation
Adjustments - Section 3
Hope & Lifetime Learning Credits - §25A
Lifetime Learning Credit - §25A(a)(1)
Hope (with American Opportunity modifications)
Credit - §25A(b)(1)
Educational Savings Bonds - §135
Student Loan Interest Deduction - §221
Discharge Of Student Loan Indebtedness - §108
Foreign Earned Income Exclusion - §911
Rehabilitation Credit Modified
Conservation Base Expansion - §170(b)
Grandfathered Archer Medical Savings Accounts -
§220
Medical Expense Deduction - §213
Personal Casualty Losses Repealed
Health Savings Accounts (HSAs) - §223
High Deductible Health Plan (HDHP)
Long-Term Care Premiums - §213(d)(10)
Long-Term Care Payments - §7702B(d)(4)
Affordable Care Act (“Obamacare”)
Health Plan Coverage Credit - §36B
Small Employers - Fewer Than 50 Employees
Large Employers - 50 or More Full-time Employees
Marketplaces & The Protecting Affordable
Coverage for Employees Act
Failure to File Tax Return - §6651
Penalties Regarding Preparing Other’s Tax Returns
- §6695
Chapter 1 - Section 3 - Review Questions
Chapter 1 - 2018/2017 Easy Update & Inflation
Adjustments - Section 4
Personal Solar Property Credit - §25D
Renewable Energy Production Tax Credit - §45
& §48
Plug-In Electric Drive Motor Vehicle Credit - §30
Advanced Energy Investment Credit - §48C
Business Income of Individuals - 20% Deduction
Corporate Tax Rate Reduced to 21%
Alternative Minimum Tax for Corporations
Small Business Accounting Methods Expanded
Excessive Employee Remuneration Limitation
Modified
Entertainment Activities Or Facilities Deduction
Repealed
Limitation on Non-corporate Losses
Net Operating Loss Deduction Modified - §172
Expenses for Child Care Facilities & Services
- §45F
Family & Medical Leave Credit - §45S
Uniformed Services Wage Credit - §45P
Small Employer HRA - §9831(d)(2)
Bonus (or Additional First-year) Depreciation -
§168(k)
Qualified Property - §168(k)(2)
Depreciation Limits on Business Vehicles -
§168(k)(2)(F)
Nonqualified Property - §168(k)(2)
Vehicle Depreciation “Caps” - §280F(a)
Bonus Depreciation - Good News, Bad News
Special Film & TV Production Expensing
(Expired) - §181
Estimated Tax Payments - §6654
Chapter 1 - Section 4 - Review Questions
Chapter 1 - 2018/2017 Easy Update & Inflation
Adjustments - Section 5
Self-Employment Tax & CRP Payments - §1402
Final Repair Regulations - §162
Health Insurance Deduction in Computing SE - §162
Social Security, Medicare & FUTA (or Payroll)
Taxes
Additional Hospital Insurance Tax On Certain
High-Income Individuals
Repatriation of Deferred Foreign Income
5 Year Amortization of Research &
Experimental Expenditures
Low-Income Housing Tax Credit - §42
Military Allowances & Low-Income Housing -
§42(h) & §142(d)
Employer-Provided Educational Assistance - §127
Parking Exclusion & Passes - §132
Bicycle Commuters Fringe Benefit (Suspended)-
§132(f)
Cents-per-Mile Valuation Method - §61
Employee Achievement Awards Exclusion Modified -
§74
Moving Expense Reimbursement Exclusion Repealed
Work Opportunity Tax Credit (WOTC) - §51
Special Long-Term Family Assistance Recipients
Calculation
Special Veterans Calculation as a Result of “VOW”
Leasehold Improvement, Retail Improvement &
Restaurant Property - §168
Qualified 15-Year Leasehold Improvement Property
- §168(e)(3)(E)(iv)
Qualified Leasehold Improvement Property
Qualified 15-Year Retail Improvement Property -
§168(e)(E)(ix)
Qualified Retail Improvement Property
15-Year Restaurant Improvement Property -
§168(e)(3)(E)(v)
Expensing & Bonus Depreciation Permitted
Recapture Considerations - §1245 & §1250
Potential Technical Correction
Qualified Improvement Property
Recovery Period Of Certain Farm Property
Shortened
Like-kind Exchanges Limited to Real Property -
§1031
Enhanced Charitable Deduction for Food - §170
Qualified Small Business Capital Gains - §1202
75% Exclusion - February 17, 2009 to September
27, 2010
100% Exclusion - September 27, 2010, to Present
Domestic Production Activities Deduction
(Repealed) - §199
Qualified Low-Income Community Investments
Imputed Interest Small Transaction Exception -
§1274
Denial of Deduction for Certain Fines Expanded
Denial of Deduction for Sexual Harassment
Settlements
Technical Termination Of Partnerships Repealed
Increased Holding on Certain Partnership Profit
Interests
Limitation On Allowance Of Partner’s Share Of
Loss
Built-In Loss Definition On Transfer Of
Partnership Interest
Foreign Person Sale of U.S. Partnership Interest
S to C Corporate Conversion Rules Modified
S Corporation Built-In Gain Period - §1374
S Corporation Charitable Contributions - §1367
Beneficiaries Of An Electing Small Business Trust
Charitable Deduction for Electing Small Business
Trust
Small Life Insurance Company Deduction Repealed
Unrelated Business Income Tax (“UBIT”) Separately
Computed
UBTI Increased by Taxable Fringe Benefits
Tax-Exempt Organization Executive Compensation
Tax
Payments To Controlling Exempt Organizations -
§512(b)
Private College And University Investment Income
Dividends Of Regulated Investment Companies
(RIC's) - §871
Information Reporting & Penalties - §6721 et
al
Corrections Resulting in Reduced Penalties
Failure to File Partnership Return - §6698
Failure to File S Corporation Return - §6699
Chapter 1 - Section 5 - Review Questions
Chapter 1 - 2018/2017 Easy Update & Inflation
Adjustments - Section 6
Defined Benefit Plans - §415(b)(1)(A)
Defined Contribution Plans - § 415(c)(1)(A)
Rollover Period For Plan Loan Offset Amounts
Extended
Compensation Limit - §401, §404 & §408
IRA AGI Phaseout Limits - §219
Individual Taxpayer is an Active Plan Participant
Spouse is an Active Plan Participant
Charitable Distributions from IRAs - §408
Roth Contribution Limit - §408A(c)(2) & §219
Roth AGI Phaseout Limits - §408A(c)(3)
In-Plan Rollovers to Roth Accounts
Roth IRA Conversions for Retirement Plans
Special Roth IRA Recharacterization Repealed
Designated Roth Accounts for §457 Plans
§401(k), §403(b) & §457 Elective Deferral
& Catch-up Limits
Simplified Employee Pensions (SEPs)
Retirement Savings (Saver’s) Credit - §25B(b)
Estate, GST & Gift Taxes - §2001, §2601 &
§2501
Repeal & Reinstatement of Estate & GST
Taxes
Applicable Exemption Amount - §2010
Basis of Inherited Property - §1014
State Death Tax Credit Replaced with Deduction -
§2058
Real Property Valuation - §2032A
Interest on Estate Tax Installments - §6166 &
§6601
Estate & Trust Income Tax Rates - §1(e)
Consistent Basis Reporting Between Estate &
Heirs
Applicable Exemption Amount for GST - §2010
Reunification of Estate & Gift Taxes
Applicable Exemption Amount for Gift Tax - §2505
Annual Exclusion for Gifts - §2503
Noncitizen Spouse Exclusion - §2523(i)(1)
Notice of Large Gifts Received from Foreign
Persons - §6039F
Chapter 1 - Section 6 - Review Questions
Chapter 1 - Section 1 Review Questions Feedback
Chapter 1 - Section 2 - Review Questions Feedback
Chapter 1 - Section 3 - Review Questions Feedback
Chapter 1 - Section 4 - Review Questions Feedback
Chapter 1 - Section 5 - Review Questions Feedback
Chapter 1 - Section 6 - Review Questions Feedback