Your Federal Income Tax 2016 Part 4: Part Four - Adjustments to Income (Tax Bible Series 2016)

Part Four - Adjustments to Income
The three chapters in this part discuss some of the adjustments to income that you can deduct in figuring your adjusted gross income. These chapters cover:
• Contributions you make to traditional individual retirement arrangements (IRAs) — chapter 17,
• Alimony you pay — chapter 18, and
• Student loan interest you pay — chapter 19.
• 17. Individual Retirement Arrangements (IRAs)
o What's New for 2015
o Reminders
o Introduction
o Useful Items - You may want to see:
o Traditional IRAs
? Who Can Open a Traditional IRA?
? When and How Can a Traditional IRA Be Opened?
? How Much Can Be Contributed?
? When Can Contributions Be Made?
? How Much Can You Deduct?
? Nondeductible Contributions
? Inherited IRAs
? Can You Move Retirement Plan Assets?
? When Can You Withdraw or Use IRA Assets?
? When Must You Withdraw IRA Assets? (Required Minimum Distributions)
? Are Distributions Taxable?
? What Acts Result in Penalties or Additional Taxes?
o Roth IRAs
? What Is a Roth IRA?
? When Can a Roth IRA Be Opened?
? Can You Contribute to a Roth IRA?
? Can You Move Amounts Into a Roth IRA?
? Are Distributions Taxable?
• 18. Alimony
o Introduction
? Spouse or former spouse.
? Divorce or separation instrument.
o Useful Items - You may want to see:
o General Rules
? Mortgage payments.
? Taxes and insurance.
? Other payments to a third party.
o Instruments Executed After 1984
? Payments to a third party.
? Exception.
? Substitute payments.
? Specifically designated as child support.
? Contingency relating to your child.
? Clearly associated with a contingency.
o How To Deduct Alimony Paid
o How To Report Alimony Received
o Recapture Rule
• 19. Education- Related Adjustments
o Introduction
o Useful Items - You may want to see:
o What's New for 2015
o Student Loan Interest Deduction
? Student Loan Interest Defined
? Can You Claim the Deduction?
? How Much Can You Deduct?
? How Do You Figure the Deduction?