Page 5 - Supplement to 2022 Income Tax

Contents

Recent Tax Developments* 3 Form 1040—Schedule B 30
Filing Reminders 3 Form 1040—Schedule C 31
IRS Mileage Rates for 2022 4 Form 1040—Schedule D 33
Social Security & Medicare Taxes on 2022 Form 1040—Schedule E 35
Wages & Self-Employment Earnings 4 Form 1040—Schedule SE 37
Medicare Part B and Part D Premiums for 2022 5 Form 1040—Schedule EIC 38
2020 MAGI and Filing Status Determine 2022 Form 1040—Schedule 8812 40
Medicare Premiums and Surcharges 6 Recovery Rebate Credit Worksheet 43
Estimating Your 2022 Taxes 7 Qualified Dividends and Capital Gain
Retirement Plan Cost-of-Living Tax Worksheet 44
Adjustments for 2022 7 Schedule D Tax Worksheet 45
Non-Retirement Cost-of-Living Form 4684 47
Adjustments for 2022 8
Expired Tax Breaks 11 Form 8915-F 51
2022 Tax Rate Tables 12 Form 8949 55
Updates, Additions, and Corrections to the Form 8959 57
Text of Your Income Tax 2022 13 Form 8960 58
Where do you file your 2021 Form 8962 59
Form 1040 or 1040-SR? 15 Form 8995 61
Forms, Tables, Worksheets for 2021 16 Form 8995-A 62
Form 1040 17 2021 Tax Table 64
Form 1040-SR 19 2021 Tax Computation Worksheet 76
Form 1040—Schedule 1 23 2021 Earned Income Credit (EIC) Table 77
Form 1040—Schedule 2 25 2021 Optional State Sales Tax Tables 87
Form 1040—Schedule 3 27 2021 Bond Tables—Series EE 92
Form 1040—Schedule A 29 2021 Bond Tables—Series I 100

Recent Tax Developments*

(Boldface page references in the headings of the following articles are to the text of J.K. Lasser’s Your Income Tax 2022.)

Filing Reminders

In addition to the basic tax return—Form 1040 or Certain distributions. File Form 8915-F, Qualified
1040-SR—plus the usual array of forms and schedules Disaster Retirement Plan Distributions and Repayments
(many of which are in this Supplement), you may have to (see the Form on page 51 of this Supplement), with your
take some other actions. Here are some filing reminders: return if any of the following situations apply to you:
• Qualified 2020 disaster distributions made in 2021
Cryptocurrency transactions. If you received, sold, (coronavirus-related distributions can’t be made
after December 30, 2020)
exchanged, or otherwise disposed of any financial • Repayments of qualified 2020 disaster distributions
interest in any virtual currency during 2021, be sure to • Income in 2021 and later years from qualified 2020
check the “yes” box on the first page of the tax return. and later disaster distributions. This can result
If not, check “no.” Don’t leave this blank. It does not where you received a 2020 distribution and opted
to report the income over 3 years.
appear that this question also applies to non-fungible • Qualified distributions received on January 1, 2021,
tokens (NFTs); the IRS has not addressed this yet. for the Washington (8593-DR-WA) disaster.

*This Supplement to J.K. Lasser’s Your Income Tax reflects tax developments as of February 16, 2022. Please revisit us at jklasser.com for further updates.

Supplement to J.K. Lasser’s Your Income Tax 2022 | 3