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1040 Quickfinder Handbook

1040 Quickfinder Handbook

Product Information

  • The 2015 print and ProView eBook tax year editions will be available in December 2015. Pre-order your edition today.

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The 1040 Quickfinder Handbook is your trusted source for quick reference to tax principles that apply when preparing individual income tax returns. It covers all aspects of preparing a Form 1040, including tax law changes and IRS developments, and is presented in a concise, easy-to-use format.

With the 1040 Quickfinder Handbook, you’ll be on top of the ever-changing tax rules that apply to your individual client returns. Whether determining how the tax rules apply to a particular transaction or event, or how to report a particular tax item on the return, or simply looking up an amount or rate, the Handbook gets you the accurate answers you need quickly. Here’s what you’ll get with this useful tool: 

  • Material that’s organized in a unique tab structure based on the IRS tax forms and schedules
  • Loads of quick reference tables and charts get you the answers you’re looking for quickly
  • Examples throughout that illustrate how the tax rules apply and how to report items on the return
  • A What’s New tab that summarizes significant current-year tax changes that are addressed throughout the Handbook, so you can quickly get up to speed on what’s changed
  • References throughout the Handbook to relevant Internal Revenue Code sections, IRS regulations and rulings, and court cases so you can dig deeper into a subject if needed

See information above for new edition availability.  To order the current or prior tax year editions, please call us at 800-510-8997.

  • Quickfinder Annual Tax Update 2014
    • Chapter 1 Tax Increase Prevention Act of 2014 (TIPA)
      • Key Issue 1B: Extended Tax Breaks for Individuals
      • Key Issue 1C: Cost Recovery Provisions
      • Key Issue 1D: Extended Tax Credits For Businesses
      • Key Issue 1E: Extended Business Provisions
      • Key Issue 1F: ABLE Accounts
    • Chapter 2 Health Care Reform
      • Key Issue 2A: Obtaining Insurance Through the Marketplace
      • Key Issue 2B: Market Reforms Application to Medical Reimbursement Plans
      • Key Issue 2C: Individual Mandate and the “Shared Responsibility” Penalty
      • Key Issue 2D: Premium Assistance Tax Credit
      • Key Issue 2E: Employer Mandate Delay
      • Key Issue 2F: Small Employer Health Insurance Tax Credit
    • Chapter 3 IRS Filing and Compliance Matters
      • Key Issue 3A: Update on Registered Tax Return Preparer (RTRP) Controversy
      • Key Issue 3B: Update on Preparer Voluntary Education Program
      • Key Issue 3C: IRS Issues Revised Power of Attorney Form (Form 2848)
      • Key Issue 3D: IRS Changes Policy on Individual Taxpayer Identification Numbers (ITINs)
      • Key Issue 3E: Final Regulations Ease Circular 230 Requirements on Written Advice
      • Key Issue 3F: Uncertain Tax Positions
      • Key Issue 3G: IRS Announces New Taxpayer Bill of Rights
      • Key Issue 3H: Penalties for Failure to File Timely S Corporation or Partnership Returns
      • Key Issue 3I: Fees for Installment Agreements and Offers in Compromise
      • Key Issue 3J: Contingent Fees on Refund Claims
      • Key Issue 3K: Limit on Direct Deposit Refunds
    • Chapter 4 Individual Tax Matters
      • Key Issue 4A: Additional 0.9% Medicare Tax
      • Key Issue 4B: 3.8% Net Investment Income (NII) Tax
      • Key Issue 4C: Dependency Exemption—Divorced Parents
      • Key Issue 4D: Innocent Spouse—Equitable Relief
      • Key Issue 4E: Gain on Repossession of Principal Residence
      • Key Issue 4F: Alimony—Termination of Payment Obligation upon Spouse’s Death
      • Key Issue 4G: Child-Related Contingency Prevented Treatment of Payments as Deductible Alimony
      • Key Issue 4H: Alimony—Tax Gap
      • Key Issue 4I: Simplified Home Office Deduction
      • Key Issue 4J: Interest Deduction for Unrecorded Mortgage
      • Key Issue 4K: Deduction for MBA Tuition
      • Key Issue 4L: Sale of Former Principal Residence Freed Up Suspended PALs From Rental Period Even Though Gain on Sale Was Excluded
      • Key Issue 4M: Airline Ticket Received as Award for Opening Bank Account Was Taxable Income to Recipient
      • Key Issue 4N: No Abandonment Loss for Partnership Interests Because Requisite Profit Motive Was Lacking
      • Key Issue 4O: No Charitable Deduction for Household Goods without Proper Substantiation
    • Chapter 5 S Corporations and Shareholders
      • Key Issue 5A: S Corporation Dividends and Loan Repayments Recharacterized as Wages
      • Key Issue 5B: S Corporation Built-in Gains Tax Break Extended
      • Key Issue 5C: Special Break for S Corporation Charitable Contributions of Appreciated Property Extended
      • Key Issue 5D: Section 179 Deduction for S Corporation Controlled Group
      • Key Issue 5E: Impact of Losses on S Corporation Stock Basis for Property Distributions
      • Key Issue 5F: Shareholder’s Reporting of Schedule K-1 Income
      • Key Issue 5G: Final Regulations on Basis From Debt for S Corporation Shareholders
      • Key Issue 5H: Passive Activity Loss and Debt Basis Limitation
      • Key Issue 5I: Shareholder’s Reduced Role in S Corporation Business Still Met PAL Material Participation Standard
      • Key Issue 5J: Tax Treatment of QSUB When Parent S Corporation Terminates S Election
      • Key Issue 5K: Accumulated Adjustments Account (AAA) of Terminated S Corp That Re-elected S Corporation Status
    • Chapter 6 C Corporations and Shareholders
      • Key Issue 6A: Extension of Qualified Small Business Stock Gain Exclusion
      • Key Issue 6B: Constructive Dividends
      • Key Issue 6C: Passive Activity Grouping
      • Key Issue 6D: Ownership of Goodwill
      • Key Issue 6E: Enhanced Charitable Deduction
      • Key Issue 6F: Beneficial Graduated Corporate Tax Rate Schedule Allowed for Affiliated Group That Included Personal Service Corporation
      • Key Issue 6G: Regulations on Allocation of Basis in “All Cash D Reorganizations”
      • Key Issue 6H: Final Regulations on Corporation Acquisitions and Profit Allocations
      • Key Issue 6I: Merger Proceeds Triggered Ordinary Income and Capital Gain
    • Chapter 7 Partnerships and Partners
      • Key Issue 7A: Proprietorship vs. Partnership
      • Key Issue 7B: Net Investment Income Tax (NII Tax) Rules for Income, Gains and Losses Passed Through By Partnerships and S Corporations
      • Key Issue 7C: Proposed NII Tax Regulations for Certain Payments to Partners and Deceased Partners’ Successors in Interest
      • Key Issue 7D: Updated Proposed NII Tax Regulations for Dispositions of Partnership Interests
      • Key Issue 7E: Partner’s Unreimbursed Partnership Business Expenses
      • Key Issue 7F: Effect of Partnership Technical Terminations on Unamortized Start-up and Organizational Expenses
      • Key Issue 7G: Measuring Partners’ Interests in Unrealized Receivables and Inventory Items (“Hot Assets”)
      • Key Issue 7H: Partner Was Liable for Partnership’s Unpaid Employment Taxes
    • Chapter 8 Limited Liability Companies (LLCs) and Members
      • Key Issue 8A: IRS Clarifies At-Risk Rules for LLC Debt
      • Key Issue 8B: LLC Member’s At-Risk Treatment for Co-Guaranteed Loan
      • Key Issue 8C: Active LLC Members under SE Tax and PAL Rules
      • Key Issue 8D: Guaranteed Payments to LLC Member Were Subject to SE Tax
      • Key Issue 8E: Business Bad Debt Deduction—Bona Fide Loans
      • Key Issue 8F: Disregarded SMLLC Was Separate Business for Accounting Method Purposes
      • Key Issue 8G: Payments to LLC Not Exempt from Information Reporting
    • Chapter 9 Depreciation and Amortization
      • Key Issue 9A: 2014 “Luxury Auto” Depreciation Limits
      • Key Issue 9B: 2014 Cents-Per-Mile Valuation Method for Personal Use of Employer-Provided Autos
      • Key Issue 9C: IRS Issues Final Tangible Property Regulations
      • Key Issue 9D: Post-Acquisition Allocation of Purchase Price Disallowed
      • Key Issue 9E: Uniform Capitalization Rules for Homebuilders
      • Key Issue 9F: Section 179 Expense for 2014
      • Key Issue 9G: Extended 15-Year Write-Off for Qualified Leasehold, Retail Improvement and Restaurant Property
    • Chapter 10 Business Income, Gains and Losses
      • Key Issue 10A: Final Regulations on Tangible Property Expenditures and Dispositions of Depreciable Assets
      • Key Issue 10B: Qualifying for Real Estate Professional Exception to the PAL Rules
      • Key Issue 10C: Land Is Not Necessarily a Capital Asset
      • Key Issue 10D: Interaction Between Section 121 Gain Exclusion and Suspended PALs From Principal Residence Converted to Rental Property
      • Key Issue 10E: Procedure—Schedule M-3 Filing Changes
      • Key Issue 10F: Virtual Currency
    • Chapter 11 Retirement Plans
      • Key Issue 11A: Same-Sex Marriage Considerations for Retirement Plans and Other Issues
      • Key Issue 11B: Health Flexible Spending Arrangements (Health FSAs)
      • Key Issue 11C: No Bankruptcy Protection for Inherited IRAs
      • Key Issue 11D: Planning for IRA Rollovers after the Bobrow Decision
      • Key Issue 11E: Guidance for Qualified Retirement Plan Distributions With Pretax and After-Tax Amounts
      • Key Issue 11F: Spousal Rollover of Inherited Roth IRA Despite Existence of Trust Beneficiary
      • Key Issue 11G: Electronic Filing Requirement for Retirement Plans
      • Key Issue 11H: Plan Loan Offset Triggered 10% Early Withdrawal Penalty
      • Key Issue 11I: Longevity Annuities Can Be Purchased through Qualified Plans and IRAs
      • Key Issue 11J: Late Filing Relief for One-Participant Retirement Plans
      • Key Issue 11K: My Retirement Account—myRA
      • Key Issue 11L: Safe Harbor Notice for Eligible Rollover Distributions
      • Key Issue 11M: IRA-to-SIMPLE IRA Rollover
    • Chapter 12 Fringe Benefits
      • Key Issue 12A: Group-Term Life Insurance
      • Key Issue 12B: Fringe Benefit Tax Guide for Government Entities
      • Key Issue 12C: Favorable Final Regulations on Local Lodging Expenses
      • Key Issue 12D: IRS Issues Updated Per-Diem Rates for Business Travel
      • Key Issue 12E: Employee Benefits— Transportation as Tax-Free Fringe
      • Key Issue 12F: Employee Benefits—Bike Sharing Expenses
    • Chapter 13 Payroll, Self-Employment and FICA Issues
      • Key Issue 13A: Spousal Employee vs. Independent Contractor
      • Key Issue 13B: Supreme Court Says Severance Pay Is Subject to FICA Tax
      • Key Issue 13C: 2015 Wage Ceiling for Social Security Tax Component of FICA Tax
      • Key Issue 13D: Statute of Limitations for Employment Tax Returns Filed by Third-Party Agents
      • Key Issue 13E: Employment Tax—Partner Was Responsible Person
      • Key Issue 13F: Employment Tax—Business Owner Was Responsible Person
      • Key Issue 13G: Update on 2014 Federal Unemployment Tax Rates
      • Key Issue 13H: Guidance on Reporting Additional 0.9% Medicare Tax
    • Chapter 14 Estate, Trusts and Gifts
      • Key Issue 14A: Estate and Gift Tax Rates and Exemption Amount
      • Key Issue 14B: Estate and Gift Tax Exemption Portability
      • Key Issue 14C: Valuation Discount for Fractional Interests in Artwork
      • Key Issue 14D: IRS Overvalued Estat e’s Interest in Closely-Held Corporation for Goodwill Not Owned by Corporation
      • Key Issue 14E: Material Participation By a Trust
      • Key Issue 14F: Final Regulations Address Trust and Estate Miscellaneous Itemized Deductions Subject to the 2% Floor
      • Key Issue 14G: LLC’s Recapitalization Resulted in Taxable Gifts
      • Key Issue 14H: Business Merger Resulted in Taxable Gifts
      • Key Issue 14I: Applying The Final Regulations on Net Investment Income Tax to Estates and Trusts
    • Chapter 15 Tax-Exempt Organizations
      • Key Issue 15A: Tax-exempt Organization Search Tool
      • Key Issue 15B: Streamlined Application Method for 501(c)(3) Tax-Exempt Status
      • Key Issue 15C: Relief for Revocation of Tax-Exempt Status
      • Key Issue 15D: Change in Form 1023-EZ Instructions
      • Key Issue 15E: Online Sorority Fails to Qualify as Tax-Exempt Social Club
      • Key Issue 15F: Change in Domicile Doesn’t Require New Application for Exemption
    • Chapter 16 Foreign Tax Provisions
      • Key Issue 16A: 2014 Offshore Voluntary Disclosure Program
      • Key Issue 16B: Foreign Bank and Financial Account Reporting Rules (FBAR)
      • Key Issue 16C: Online Poker Accounts Should Be Included on Foreign Financial Account Report (FBAR)
      • Key Issue 16D: Foreign Account Tax Compliance Act (FATCA) Developments
    • Chapter 17 Practice Aids