R1 Metrics

Medical expense itemized deduction AGI floor?

7.5% of AGI

Charitable contribution limit - Cash to public charity?

60% of AGI

Charitable contribution limit - Ordinary income property to public charity?

50% of AGI

Charitable contribution limit - Long-term capital gain property to public charity?

30% of AGI

Charitable contribution excess carryforward?

5 years

2026 charitable contribution floor?

0.5% of AGI

2026 maximum annual IRA contribution?

Lesser of earned income or $7,500

2026 IRA catch-up contribution for age 50+?

Additional $1,100

Age associated with IRA early distribution penalty?

Under age 59½

IRA early distribution additional tax?

10% of taxable early distribution unless an exception applies

Traditional IRA contribution deduction type?

For AGI deduction

Roth IRA contributions deductible?

No

Traditional IRA deduction MAGI phaseouts need to be memorized?

No - know that income and active participation in a retirement plan can limit the deduction

Roth IRA contribution MAGI phaseouts need to be memorized?

No - know that high income can limit the ability to contribute

2026 maximum educator expense adjustment?

$350

Maximum student loan interest deduction?

$2,500 per year

Student loan interest is what type of deduction?

For AGI adjustment

2026 HSA contribution limit - Self-only?

$4,400

2026 HSA contribution limit - Family?

$8,750

Additional tax on nonqualified HSA distributions?

20%

Self-employed health insurance deduction?

100% deductible as an adjustment to AGI

Deductible portion of self-employment tax?

50% of self-employment tax

Business meals generally deductible percentage?

50%

Business interest expense general limitation?

Business interest income + 30% of ATI + floor plan financing interest

2026 small-business gross receipts exception for business interest limitation?

Average gross receipts for prior 3 years of $32 million or less

Hobby activity profit presumption?

Profitable in 3 of the past 5 years

Personal residence rented fewer than how many days gets special treatment?

Fewer than 15 days

2026 SALT itemized deduction aggregate limit?

$40,400

Qualifying casualty loss per-casualty floor?

$100 per casualty

Qualifying casualty loss AGI floor?

10% of AGI after applying the $100 per-casualty floor

Home mortgage acquisition indebtedness maximum?

$750,000

Investment interest deduction limit?

Net taxable investment income

Unused investment interest carryforward?

Indefinite

2026 gambling loss deduction?

90% of losses, limited to gambling winnings

Basic QBI deduction percentage?

Up to 20% of QBI

Overall QBI taxable-income limitation?

20% of taxable income before QBI deduction minus net capital gain

2026 minimum QBI deduction?

$400 if aggregate QBI from active qualified trades/businesses is at least $1,000

Long-term capital gain and qualified dividend preferential rates?

0%, 15%, or 20%

Most common LTCG and qualified dividend rate?

15%

Maximum American Opportunity Tax Credit (AOTC)?

$2,500 per eligible student

AOTC calculation?

100% of first $2,000 + 25% of next $2,000 of qualifying expenses

AOTC refundable percentage?

40%

Maximum refundable portion of AOTC?

$1,000

AOTC available for how many years of undergraduate education?

Up to 4 years

Maximum Lifetime Learning Credit (LLC)?

$2,000 per taxpayer

Lifetime Learning Credit calculation?

20% of first $10,000 of qualifying tuition and fees

Can AOTC and LLC be used for the same student in the same year?

No

Child and Dependent Care Credit eligible expense limit - One qualifying individual?

$3,000

Child and Dependent Care Credit eligible expense limit - Two or more?

$6,000

Child and Dependent Care Credit percentage range?

20% to 50%

Credit for elderly/permanently disabled percentage?

15% of eligible income

Retirement Savings Contribution Credit maximum contribution considered?

$2,000

Retirement Savings Contribution Credit possible rates?

10%, 20%, or 50%

2026 Child Tax Credit per qualifying child?

$2,200

Child Tax Credit age test?

Qualifying child has not reached age 17 by year-end

2026 credit for a dependent who is not a qualifying child under age 17?

$500 nonrefundable credit

Earned Income Tax Credit refundable or nonrefundable?

Refundable

AOTC refundable or nonrefundable?

40% refundable

W-2 withholding refundable?

Yes - treated as a tax payment

Estimated tax underpayment penalty balance-due threshold?

$1,000 or more

Estimated tax safe harbor - Current year?

At least 90% of current-year tax liability

Estimated tax safe harbor - Prior year?

Generally 100% of prior-year tax liability

Estimated tax safe harbor when prior-year AGI exceeds $150,000?

110% of prior-year tax liability

Self-employment tax rate?

15.3%

Percentage of Schedule C net income generally used to calculate SE tax base?

92.35%

Self-employment tax basic formula?

Schedule C net income × 92.35% × 15.3%, subject to applicable limits

How much of self-employment tax is deductible for AGI?

One-half

Additional Medicare tax rate?

0.9%

Additional Medicare tax threshold - MFJ?

$250,000

Additional Medicare tax threshold - MFS?

$125,000

Additional Medicare tax threshold - All other taxpayers?

$200,000

Net Investment Income Tax (NIIT) rate?

3.8%

NIIT calculated on what amount?

Lesser of net investment income or excess AGI over the applicable threshold

NIIT threshold - MFJ?

$250,000

NIIT threshold - Other taxpayers?

$200,000

2026 Kiddie Tax standard deduction amount for unearned income?

First $1,350

2026 Kiddie Tax amount taxed at child's rate after first $1,350?

Next $1,350

2026 Kiddie Tax - unearned income above what amount reaches parent's rate?

$2,700

2026 child standard deduction when earned income exceeds $1,350?

Earned income + $450, subject to maximum

2026 maximum child standard deduction under this rule?

$16,100

Social Security benefits - maximum taxable percentage for middle-income taxpayer?

Up to 50%

Social Security benefits - maximum taxable percentage for higher-income taxpayer?

Up to 85%

Business income from an S corporation subject to shareholder self-employment tax?

No

Active partner's ordinary business income generally subject to self-employment tax?

Yes

Partnership guaranteed payments generally included in self-employment income?

Yes

2026 excess business loss limit - MFJ?

$512,000

2026 excess business loss limit - All other taxpayers?

$256,000

2026 qualified tips maximum deduction?

Up to $25,000, subject to income limits

2026 qualified overtime maximum deduction - Non-MFJ?

Up to $12,500, subject to income limits

2026 qualified overtime maximum deduction - MFJ?

Up to $25,000, subject to income limits

2026 qualified vehicle loan interest maximum deduction?

Up to $10,000, subject to requirements and income limits

2026 enhanced senior deduction maximum?

Up to $6,000, subject to income limits

Age for 2026 enhanced senior deduction?

65 or older at year-end