This article explores the income tax issues that arise from owning or living in a home with a person other than a spouse.
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TOPICS / INDIVIDUALS
Deductions
How to determine profit motive
This column examines two U.S. Tax Court cases addressing profit motive.
Current Developments in Taxation of Individuals
A number of recent significant developments affect
taxation of individuals.
IRS Proposes Changes to Rules for Dependents
The IRS proposed changes to various rules affecting dependents, including changing its position on when taxpayers count as “childless” for purposes of the earned income tax credit.
Standard Mileage Rates for 2017 Are Announced
The IRS issued the 2017 standard mileage rates for determining the deductible costs for operating a vehicle for business, medical, charitable or moving purposes.
IRS Agrees That Mortgage Interest Deduction Limit Applies on Per-Taxpayer Basis
Mortgage interest limitation is meant to apply on a “per-taxpayer” basis, rather than on a “per-residence” basis.
Tax Planning for Aging Clients: Medical Expense Deduction for Home Improvements
Many clients making modifications to make homes more accessible may qualify for valuable home improvement medical expense
deductions.
Form 8332 Challenges for Divorced Couples
When parents divorce without a meeting of the minds or a well-crafted agreement, issues can result as to who is entitled to the tax benefits from supporting their children.
IRS Proposes Rules for Reporting and Claiming Tuition Expenses
The IRS is proposing to amend the rules governing eligibility to claim a deduction or credit for eligible education expenses to conform them to recent legislative changes.
Tax Relief for Executive Compensation Clawbacks Under Proposed Dodd-Frank Rules
This article discusses difficult tax problems faced by executive officers whose compensation is clawed back and the limited availability of relief under Sec. 1341.
IRS Issues 2016–2017 Special Per-Diem Rates for Travel
The IRS issued its annual updates of per-diem rates for use in substantiating certain business expenses taxpayers incur when traveling away from home on or after Oct. 1.
Co-op Owner Still Cannot Take Deduction for Wall’s Collapse
Progressive deterioration caused collapse of an
80-year-old retaining wall, making a taxpayer ineligible for casualty loss deduction.
Individual Tax Update
This article covers recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.
Proposed Regs. Govern Reporting and Claiming Qualified Tuition and Related Expenses
The IRS is proposing to amend the rules governing eligibility to claim a deduction or credit for eligible education expenses to conform them to recent legislative changes.
Charitable Donations of Food Inventory
A recent change in the law makes it easier for taxpayers to claim charitable deductions for food products donated to charity.
Valuing and Substantiating Charitable Contributions
The burden of establishing fair market value of clothing and household items gifted to charity is on the taxpayer, but many have problems determining that value.
Health Savings Account Limits for 2017 Are Issued
The IRS issued the inflation-adjusted figures for the annual contribution limits for health savings accounts and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible plans.
Charitable IRA Distributions: A Great Opportunity
Exclusion of IRA “qualifying charitable distributions” can a powerful incentive to charitable giving.
Charitable Contributions of Artwork: An Important Primer
A number of tax planning opportunities are available when gifting artwork, but donors should do their homework to avoid surprises.
IRS Withdraws Controversial Charitable Donation Rules
The IRS withdrew proposed regulations that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
