Check Tax Refund
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Tax Return Checklist - Individual
Extenders (retroactive back to 2018)
Retroactive reinstatement for the mortgage insurance premium (PMI) deduction and is extended through 2020
Retroactive reinstatement for the exclusion of qualified mortgage debt forgiveness from income and is extended through 2020
Retroactive reinstatement for the-above-the-line qualified tuition and related expenses deduction and is extended through 2020
Retroactive reinstatement for the construction of energy efficient home and is extended through 2020
The medical expenses deduction limitation returns to 7.5% of your AGI, from 10%, for 2019 and 2020
The employer credit for paid family medical leave and the work opportunity credit have been reinstated for 2020
Changes to retirement plans (SECURE Act)
Age of the RMD will be 72 and removes the age limit for contributions to traditional IRAs
NOTE: Does not affect 2019. If you turned 70 1/2 in 2019 you must start taking your RMD and you are not allowed to contribute to a traditional IRA
Starting in 2020 parents can take penalty-free distributions from 401(k), IRA or another qualified retirement plan within a year after birth or adoption
The Act eliminated the "stretch IRA". Starting in 2020 beneficiaries of inherited IRAs must withdraw, and pay taxes on, all the money within ten years.