Information on this desk card is 2017 tax law

for 2017 returns filed in the 2018 tax season. DESK CARD Information on this desk card is accurate as of
February 9, 2018, and is subject to update.
TAX SEASON 2018

2017 2018
January 31 February 59 March 90 January 31 February 59 March 90
S M T W Th F S S M T W Th F S S M T W Th F S S M T W Th F S S M T W Th F S S M T W
Th F S
1 2 3 4 5 6 7 1 2 3 4 1 2 3 4 1 2 3 4 5 6 1 2 3 1 2 3
8 9 10 11 12 13 14 5 6 7 8 9 10 11 5 6 7 8 9 10 11 7 8 9 10 11 12 13 4 5 6 7 8 9 10 4 5 6 7 8 9 10
15 16 17 18 19 20 21 12 13 14 15 16 17 18 12 13 14 15 16 17 18 14 15 16 17 18 19 20 11 12 13 14 15 16 17 11 12 13 14 15 16 17
22 23 24 25 26 27 28 19 20 21 22 23 24 25 19 20 21 22 23 24 25 21 22 23 24 25 26 27 18 19 20 21 22 23 24 18 19 20 21 22 23 24
29 30 31 26 27 28 26 27 28 29 30 31 28 29 30 31 25 26 27 28 25 26 27 28 29 30 31

April 120 May 151 June 181 April 120 May 151 June 181
S M T W S Th F S M T W Th F S S M T W
Th F S S M T W Th F S S MT W Th F S S M T W F S Th
1 1 2 3 4 5 6 1 2 3 1 2 3 4 5 6 7 1 2 3 4 5 1 2
2 3 4 5 6 7 8 7 8 9 10 11 12 13 4 5 6 7 8 9 10 8 9 10 11 12 13 14 6 7 8 9 10 11 12 3 4 5 6 7 8 9
9 10 11 12 13 14 15 14 15 16 17 18 19 20 11 12 13 14 15 16 17 15 16 17 18 19 20 21 13 14 15 16 17 18 19 10 11 12 13 14 15 16
16 17 18 19 20 21 22 21 22 23 24 25 26 27 18 19 20 21 22 23 24 22 23 24 25 26 27 28 20 21 22 23 24 25 26 17 18 19 20 21 22 23
23 24 25 26 27 28 29 28 29 30 31 25 26 27 28 29 30 29 30 27 28 29 30 31 24 25 26 27 28 29 30
30
July 212 August 243 September 273 July 212 August 243 September 273
S M T W S Th F S M T W Th F S S M T W Th
F S S M T W Th F S S MT W Th F S S M T W ThS F
1 1 2 3 4 5 1 2 1 2 3 4 5 6 7 1 2 3 4 1
2 3 4 5 6 7 8 6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14 5 6 7 8 9 10 11 2 3 4 5 6 7 8
9 10 11 12 13 14 15 13 14 15 16 17 18 19 10 11 12 13 14 15 16 15 16 17 18 19 20 21 12 13 14 15 16 17 18 9 10 11 12 13 14 15
16 17 18 19 20 21 22 20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 19 20 21 22 23 24 25 16 17 18 19 20 21 22
23 24 25 26 27 28 29 27 28 29 30 31 24 25 26 27 28 29 30 29 30 31 26 7 28 29 30 31 23 24 25 26 27 28 29
30 31 30

October 304 November 334 December 365 October 304 November 334 December 365

S M T W Th F S S MT W Th F S S M T W ThF S S M T W Th F S S M T W Th F S S M T W Th F S
1 2 3 4 5 6 7 1 2 3 4 1 2 1 2 3 4 5 6 1 2 3 1
8 9 10 11 12 13 14 5 6 7 8 9 10 11 3 4 5 6 7 8 9 7 8 9 10 11 12 13 4 5 6 7 8 9 10 2 3 4 5 6 7 8
15 16 17 18 19 20 21 12 13 14 15 16 17 18 10 11 12 13 14 15 16 14 15 16 17 18 19 20 11 12 13 14 15 16 17 9 10 11 12 13 14 15
22 23 24 25 26 27 28 19 20 21 22 23 24 25 17 18 19 20 21 22 23 21 22 23 24 25 26 27 18 19 20 21 22 23 24 16 17 18 19 20 21 22
29 30 31 26 27 28 29 30 24 25 26 27 28 29 30 28 29 30 31 25 26 27 28 29 30 23 24 25 26 27 28 29
31 30 31

Important Dates in 2017 Important Dates in 2018 2017 Qualifying Child Tests 2017 Qualifying Relative Tests
(Calendar-year filers) (Calendar-year filers)
Used for the following tax benefits Used for the following tax benefits
01/17 4th 2016 estimated payment due (Form 1040) 01/16 4th 2017 estimated payment due (Form 1040) (additional requirements must be met): (additional requirements must be met):
• Dependency exemptions • Dependency exemptions
03/01 2016 farm returns due (Form 1040) 03/01 2017 farm returns due (Form 1040) • Head of household filing status • Head of household filing status
• Child Tax Credit • Child and Dependent Care Credit
03/15 2016 partnership returns due (Form 1065) 03/15 2017 partnership returns due (Form 1065)
2016 S corporation returns due (Form 1120-S) 2017 S corporation returns due (Form 1120-S)
• Earned Income Tax Credit 1. Not a qualifying child
• Child and Dependent Care Credit Individual may not be the qualifying child of any
04/18 2016 Individual returns due (Form 1040) 04/17 2017 individual returns due (Form 1040) 1. Relationship taxpayer
2016 corporation returns due (Form 1120) 2017 corporation returns due (Form 1120) Son, daughter, sibling (include step and half), adopt- 2. Relationship or Member of Household:
Last day for 2013 amended returns Last day for 2014 amended returns ed child (include placed child), eligible foster child • Relationship
1st 2017 estimated payment due 1st 2018 estimated payment due (agency or court placed), descendant of the above. Son, daughter, sibling (include step and half),
05/15 2016 exempt org. returns due (Form 990) 05/15 2017 exempt org. returns due (Form 990)
2. Age adopted child (include placed child),
• Under age 19* eligible foster child (agency or court placed),
06/15 2nd 2017 estimated payment due (Form 1040) 06/15 2nd 2018 estimated payment due (Form 1040) • Under age 24 if full-time student* descendant of above
• Any age if permanently and totally disabled father, mother, or ancestor thereof,
09/15 3rd 2017 estimated payment due (Form 1040) 09/17 3rd 2018 estimated payment due (Form 1040) *Must be younger than taxpayer (or taxpayer’s stepfather, stepmother,
spouse if filing jointly) uncle or aunt (by blood),
10/16 2016 returns with a valid extension due 10/15 2018 returns with a valid extension due 3. Residency certain in-laws (father, mother, son, daughter,
2017 Filing Requirement 2017 Standard Deduction
Lived with taxpayer more than half the year brother, sister)
(Nondependent) 4. Support • Member of household
Single $ 10,400 Single $ 6,350 Must not provide over half of their own support Individual who lived with taxpayer all year (for
5. Joint return dependency exemption only)
Age 65 or older 11,950 Age 65 or older or blind (each) +1,550 None except for refund of withholding 3. Gross income
Married filing jointly 20,800 Married filing jointly 12,700 6. Special rule Individual’s income must be less than $4,050
Taxpayer must meet tiebreaker rules if the child is
One spouse age 65 or older 22,050 Age 65 or older or blind (each) +1,250 4. Support
a QC of more than one taxpayer or more than one
Taxpayer must provide more than half the individ-
Both spouses age 65 or older 23,300 Married filing separately 6,350 taxpayer attempts to claim the child
ual’s support
Married filing separately 4,050 Age 65 or older or blind (each) +1,250
FORM W-2, BOX 12, CODES
Head of household 13,400 Head of household 9,350
A Uncollected social security/RRTA tax on tips. P Excludable reimbursed qualified moving expenses paid
Age 65 or older 14,950 Age 65 or older or blind (each) +1,550 B Uncollected Medicare tax on tips. directly to employee (May need to complete Form 3903).
C Cost of group term life insurance over $50,000. Q Nontaxable combat pay.
Qualifying widow(er) 16,750 Qualifying widow(er) 12,700 D §401(k) or SIMPLE §401(k) contribution. R Employer contributions to Archer MSA.
Age 65 or older 18,000 Age 65 or older or blind (each) +1,250 E §403(b) contribution. S §408(p) SIMPLE contributions.
F §408(k)(6) SEP contribution. T Adoption benefits (Complete Form 8839).
All self-employed individuals 400 Dependents – greater of earned income + G §457(b) contribution. V Income from exercise of nonstatutory stock option.
H §501(c)(18)(D) contribution. W Employer (and employee) contributions to HSA.
$350 or $1,050 J Nontaxable sick pay. Y Deferrals under §409A nonqualified deferred compensa-
K 20% excise tax on excess golden parachute payments. tion plan.
2017 Personal Exemption = $4,050 L Substantiated reimbursed employee business expenses. Z Includible income under §409A.
M Uncollected social security/RRTA tax on group term life AA Designated §401(k) Roth contribution.
2017 TAX RATE SCHEDULES insurance over $50,000. BB Designated §403(b) Roth contribution.
Single MFS N Uncollected Medicare tax on group term life insurance DD Cost of employer-sponsored health coverage.
Taxable Income ($) × Rate – Amount ($) Taxable Income ($) × Rate – Amount ($) over $50,000. EE Designated §457(b) plan Roth contribution.
FF Permitted Benefits under a QSEHRA.
0 – 9,325 10% 0.00 0 – 9,325 10% 0.00
9,326 – 37,950 15% 466.25 9,326 – 37,950 15% 466.25 FORM 1099-R, BOX 7, CODES
37,951 – 91,900 25% 4,261.25 37,951 – 76,550 25% 4,261.25
1 Early distribution, no known exception. H Direct rollover of a designated Roth account to a Roth IRA.
91,901 – 191,650 28% 7,018.25 76,551 – 116,675 28% 6,557.75 2 Early distribution, exception applies. J Roth IRA, early distribution, no known exception.
191,651 – 416,700 33% 16,600.75 116,676 – 208,350 33% 12,391.50 3 Disability. K Distribution of traditional IRA assets w/o available FMV.
416,701 – 418,400 35% 24,934.75 208,351 – 235,350 35% 16,558.50 4 Death. L Loans treated as distributions.
418,401 – no limit 39.6% 44,089.15 235,351 – no limit 39.6% 27,384.60 5 Prohibited transaction. N IRA contribution made for 2017 and recharacterized in 2017.
6 Tax-free §1035 exchange of life insurance or annuity. P 2016 taxable excess contributions & earnings/deferrals.
MFJ/QW HH 7 Normal distribution. Q Roth IRA, qualified distribution.
Taxable Income ($) × Rate – Amount ($) Taxable Income ($) × Rate – Amount ($) 8 2017 taxable excess contributions & earnings/deferrals. R Recharacterized IRA contribution made for 2016 and rechar-
0 – 18,650 10% 0.00 0 – 13,350 10% 0.00 9 Cost of current life insurance protection. acterized in 2017.
18,651 – 75,900 15% 932.50 13,351 – 50,800 15% 667.50 A May be eligible for ten-year tax option. S SIMPLE IRA, early distribution within first two years, no
75,901 – 153,100 25% 8,522.50 50,801 – 131,200 25% 5,747.50 B Designated Roth account distribution. known exception. (Under age 59½).
153,101 – 233,350 28% 13,115.50 131,201 – 212,500 28% 9,683.50 D Nonqualified annuity payment subject to §1411 tax. T Roth IRA, early distribution exception applies.
E Distributions under Employee Plans Compliance U Dividend distribution from ESOP under §404(k). (This distri-
233,351 – 416,700 33% 24,783.00 212,501 – 416,700 33% 20,308.50 Resolution System (EPCRS). bution is not eligible for rollover.)
416,701 – 470,700 35% 33,117.00 416,701 – 444,550 35% 28,642.50 F Charitable gift annuity. W Charges or payments for purchasing qualified long-term
470,701 – no limit 39.6% 54,769.20 444,551 – no limit 39.6% 49,091.80 G Direct rollover. care insurance contracts under combined arrangements.
 Information on this desk card is 2017 tax law
for 2017 returns filed in the 2018 tax season.
Additional Child Tax Credit (Sch. 8812)
Maximum credit is the lesser of (1) 15% of
earned income above $3,000 or (2) the amount
of the child tax credit remaining after reducing
regular tax and AMT to zero.
Additional Medicare Tax (Form 8959)
0.9% tax is imposed on an individual’s wages,
compensation, and self-employment income that
exceeds:
S/HH/QW $200,000
MFJ $250,000
MFS $125,000
Adoption Credit (Form 8839)
Maximum credit per child $ 13,570
Maximum employer-provided
benefits exclusion $ 13,570
Phaseout range $203,540-243,540
Affordable Care Act (ACA)
ACA Tax Penalty (officially known as Shared
Responsibility Payment)
2017 penalty is the GREATER of either of
the following, but not more than the average
Bronze plan premium:
• $695 per individual ($347.50 per child
under age 18) up to $2,085. Age 41 to 50 $ 770
• 2.5% of household income less filing
threshold per taxpayer’s filing status up
to the average Bronze plan premium.
Health Coverage Exemptions (Form 8965)
Used to claim exemptions from tax penalty.
Health Insurance Marketplace Statement
(Form 1095-A)
Every taxpayer enrolled in health insurance
coverage through the Marketplace will
receive this form. These individuals need this
form to complete their tax return. The form
reports any advanced premium tax credit paid
on behalf of the taxpayer.
Premium Tax Credit (Form 8962)
Form is used to reconcile any advanced
payment of the premium tax credit with the
actual premium tax credit.
Premium Tax Credit Eligibility
Taxpayer must purchase health insurance
coverage through the Marketplace, and
their household income must be less than
400% of the federal poverty level. See the
instructions to Form 8962 for additional
requirements.
Alternative Minimum Tax (Form 6251)
Exemption: Phase-out range:
S/HH $54,300 $120,700–337,900
MFJ/QW $84,500 $160,900–498,900
MFS $42,250 $ 80,450–249,450
Bonus Depreciation
50% expensing of qualified property placed in
service in 2017 before 9/28/2017, 100% for
remainder of year.
Capital Gains Tax Rates
Short-term capital gain are taxed at taxpayer’s
marginal rates (MR).
Long-term capital gain rates (LTCGR) are based
on taxpayer’s marginal rates (MR):
0% LTCGR for 10%,15% MR
15% LTCGR for 25%, 28%, 33%, 35% MR
20% LTCGR for 39.6% MR
Child and Dependent Care (Form 2441)
Maximum eligible expense for credit:
1 qualifying child $3,000
2+ qualifying children $6,000
Deemed full-time students/disabled earnings:
1 qualifying child $250/mo
2+ qualifying children $500/mo
§125 plan maximum exclusion of employer
dependent care assistance: $5,000 ($2,500 MFS) Household Employees (Schedule H)
Child Tax Credit (Sch. 8812)
Maximum credit $1,000 per child
under age 17 IRA – Traditional
Phaseout begins:
S/HH/QW $ 75,000 • Taxable compensation MFS living apart $12,500 Medical and Moving: 17¢
MFJ $110,000
MFS $ 55,000 Deduction phaseout range:
Key Information for Tax Season 2018 Information on this desk card is accurate as of
February 9, 2018, and is subject to update.
Earned Income Tax Credit IRA – Roth Residential Energy Efficient Property
Investment income limit $ 3,450 Contribution limit is the lower of: Credit (Form 5695)
No qualifying child and taxpayer at • Taxable compensation Credit is equal to 30% of the cost of qualified
least age 25 but less than age 65: • $5,500 ($6,500 Age 50+) solar electric systems, solar water heaters, fuel
Maximum credit: $ 510 Contribution phaseout range: cell property, small wind energy property, and
Maximum income: S/MFS living apart/HH $118,000–133,000 geothermal heat pumps installed in a dwelling
S/HH/QW $15,010 MFJ/QW $186,000–196,000 unit during the year.
MFJ $20,600 MFS living together $ 0–10,000
One qualifying child: Retirement Age (Normal)
Maximum credit: $ 3,400 Itemized Deduction Limitation Year of birth:
Maximum income: Itemized deductions are reduced by the lesser 1938 65 years, 2 months
S/HH/QW $39,617 of 3% of excess AGI over phaseout or 80% of 1939 65 years, 4 months
MFJ $45,207 total itemized deductions subject to limitation 1940 65 years, 6 months
Two qualifying children: before considering the phaseout. 1941 65 years, 8 months
Maximum credit: $ 5,616 Phaseout begins: 1942 65 years, 10 months
Maximum income: S $261,500 1943–1954 66 years
S/HH/QW $45,007 MFJ/QW $313,800 1955 66 years, 2 months
MFJ $50,597 HH $287,650 1956 66 years, 4 months
Three or more qualifying children: MFS $156,900 1957 66 years, 6 months
Maximum credit: $ 6,318 1958 66 years, 8 months
Maximum income: 1959 66 years, 10 months
S/HH/QW $48,340 “Kiddie Tax” (Form 8615)
Investment income threshold for children under 1960 and later 67 years
MFJ $53,930
age 18 or age 24 if full-time student: $2,100
Education Credits (Form 8863)
Retirement Plans
American Opportunity Credit (AOC)
Long-Term Care Insurance Premiums Maximum contribution:
Maximum credit per eligible student: $2,500
Maximum annual expense deduction: 401(k), 403(b), 457, SARSEP $18,000
Credit rate:
Age 40 and younger $ 410 Catch-up (Age 50+) additional $ 6,000
First $2,000 of expenses: 100%
SIMPLE $12,500
Second $2,000 of expenses: 25%
Age 51 to 60 $1,530 Catch-up (Age 50+) additional $ 3,000
Maximum of 40% refundable.
Age 61 to 70 $4,090 SEP*
Phaseout:
S/HH/QW $ 80,000–90,000 Age 71 and older $5,110
MFJ $160,000–180,000 Daily exclusion from income $ 360 *Maximum contribution is the lesser of25% of the
employee’s compensation or $54,000
Lifetime Learning Credit
Maximum Credit Per Tax Return: $2,000 Meal Expenses
Phaseout
Workers subject to DOT hours of service limits: Saver’s Credit (Form 8880)
S/HH/QW $ 56,000–66,000 80% of either: Maximum credit: $2,000
MFJ $112,000–132,000 • Standard CONUS meal allowance $63 Modified AGI range and credit rate:
• Actual meal cost S/MFS/QW $ 0–18,500 – 50%
Others: $18,501–20,000 – 20%
Educator Expense Deduction
$20,001–31,000 – 10%
Max. deduction per eligible educator: $250 50% of either:
• Meal allowance per locality MFJ $ 0–37,000 – 50%
Max. deduction if both spouses are $37,001–40,000 – 20%
See <www.gsa.gov/perdiem> for rates
eligible educators filing jointly $500 $40,001–62,000 – 10%
• Actual meal cost
HH $ 0–27,750 – 50%
Estate and Gift Tax $27,751–30,000 – 20%
Medical and Dental Expenses
Annual Gift Exclusion: $14,000 per recipient $30,001–46,500 – 10%
Taxpayers may deduct on Schedule A only the
Estate Tax (Lifetime Gift) Exclusion: $5,490,000
amount of qualified medical and dental
Maximum Rate 40% Section 179 Deduction
expenses greater than 7.5% of their AGI.
Maximum deduction: $510,000 qualified
Education Savings Account (Coverdell tangible property
Medicare B Premium (Scaled)
ESA) Investment limitation: $2,030,000
Maximum contribution: $2,000 Rates for 2017 vary based on taxpayer’s MAGI
See <https://www.medicare.gov/your-medicare-
Phaseout Range: Self-Employment Tax (Schedule SE)
costs/part-b-costs/part-b-costs.html>.
S/HH/MFS/QW $ 95,000-110,000 SE social security tax rate: 12.4%
MFJ $190,000-220,000 Social security earnings base: $127,200
Mortgage Insurance Premium Deduction Maximum social security tax: $15,772.80
This deduction was extended to 12/31/2017.
FICA Tax Rates
1.45% Medicare Tax on all employee wages Social Security
6.2% Social Security Tax on first $127,200 of Net Investment Income Tax Max. earnings subject to tax: $127,200
employee wages
3.8% tax is imposed on individual’s unearned Max. employee contribution: $ 7,886.40
income if their net investment income and mod- Max. earnings for recipients under full retirement
ified AGI exceeds: age before repayment: $ 16,920
Foreign Earned Income Exclusion
S/HH $ 200,000
Maximum exclusion: $102,100
MFJ/QW $ 250,000 Student Loan Interest Deduction
MFS $ 125,000 Form 1098-E is issued if the taxpayer pays $600
Flexible Spending Arrangements (FSA)
Maximum contribution: $2,600 or more in student loan interest during the year.
Nonbusiness Energy Property Credit Maximum deduction: $2,500
Maximum year-end carryover: $ 500
This deduction was extended to 12/31/2017. Phaseout range:
MFJ $135,000–165,000
Health Savings Account (Form 8889) S/HH/QW $ 65,000–80,000
Parent’s Election to Report Child’s
Self-only coverage: MFS $ 0
Contribution limit: $ 3,400 Interest and Dividends (Form 8814)
Plan minimum deductible: $ 1,300 Eligible if child’s interest and dividend income is
Plan out-of-pocket limit: $ 6,550 more than $1,050 and less than $10,500 Tuition and Fees Deduction
Family coverage: Minimum AMT exemption amount $7,500 Tuition and Fees Deduction of up to $4,000 was
Contribution limit: $ 6,750 extended to 12/31/2017
Plan minimum deductible: $ 2,600 Personal Exemptions Phaseout
Plan out-of-pocket limit: $13,100 Exemption amounts reduced 2% for every U.S. Savings Bond Interest Exclusion
Additional contribution limit Age 55+:
$ 1,000 $2,500 ($1,250 MFS) that exceeds: Series EE and I U.S. Bonds issued after 1989 and
Penalty for nonqualified distributions:20% S $261,500–384,000 used to pay qualified education expenses.
HH $287,650–410,150 Phaseout range:
MFJ/QW $313,800–436,300 S/HH /QW $ 78,150–93,150
MFS $156,900–218,150 MFJ $ 117,250–147,250
FICA threshold: $2,000
MFS $ 0
FUTA threshold: $1,000 or more of total cash
wages in any calendar quarter Rental Real Estate Special Allowance Vehicle Expenses
Active participation rental: Standard Mileage Rate
Contribution limit is the lower of: S/MFJ/HH/QW $25,000 Business: 53.5¢
• $5,500 ($6,500 Age 50+) MFS living together $ 0 Charity: 14¢
Phaseout range: Actual Expenses
Covered by employer retirement plan: S/MFJ/HH/QW $100,000–150,000 First-year motor vehicle depreciation limit:
S/MFS living apart/HH $ 62,000–72,000 MFS $ 50,000–75,000 Cars: $3,160
Trucks and vans: $3,560
MFJ/QW $ 99,000–119,000 *Plus add $8,000 if bonus depreciation
MFS living together $ 0–10,000
Not covered, but spouse is covered by
employee retirement plan:
MFJ $186,000–196,000