Table of Contents
1 Cover
4 Introduction Tax‐Favored Items Limits on Qualifying for Tax‐Favored Items Standard Deduction versus Itemized Deductions Impact of Deductions on Your Chances of Being Audited How to Use This Book
5 CHAPTER 1: You and Your Family Marital Status Dependents Qualifying Child Qualifying Relative Child Tax Credit Earned Income Credit Dependent Care Expenses Adoption Costs Foster Care Child Support Alimony ABLE Accounts
6 CHAPTER 2: Medical Expenses Individual Mandate Employer‐Provided Health Insurance Premium Tax Credit Health Coverage Tax Credit Itemized Medical Expenses Self‐Employed Health Insurance Deduction Long‐Term Care Coverage Flexible Spending Accounts for Health Care Health Reimbursement Arrangements Individual Coverage HRAs Excepted Benefit HRAs QSEHRAs Health Savings Accounts Archer Medical Savings Accounts ABLE Accounts COBRA Coverage Medicare Continuing Care Facilities and Nursing Homes Accelerated Death Benefits Decedent's Final Illness Medical Insurance Rebates
7 CHAPTER 3: Education Costs FAFSA Submissions Employer‐Paid Education Assistance Scholarships, Fellowships, and Grants American Opportunity Credit Lifetime Learning Credit Work‐Related Education Student Loan Interest Interest on U.S. Savings Bonds Coverdell Education Savings Accounts Qualified Tuition Programs (529 Plans) ABLE Accounts Seminars Educational Travel Cancellation of a Student Loan Penalty‐Free Withdrawals from IRAs Government Reimbursements Internships and Apprenticeships COVID‐19‐Related Grants
8
CHAPTER 4: Your Home
Mortgages
Mortgage Interest Tax Credit
Home Equity Loans
Points
Prepayment Penalties
Late Payment Penalties
Mortgage Insurance
Reverse Mortgages
Cancellation of Mortgage Debt
Penalty‐Free IRA Withdrawals for Home‐Buying Expenses
Real Estate Taxes
Cooperative