Total ordinary dividends (Form 1099-DIV, Box 1a) All dividends from stocks, mutual funds, and ETFs — including any qualified amount below. Reported on IRS Topic 404 and Schedule B. Ordinary dividends are added to taxable income. Qualified dividends are taxed at preferential rates alongside long-term capital gains per the Qualified Dividends and Capital Gain Tax Worksheet (IRS Pub. 550, Chapter 1).

Long-term capital gains / (losses) Assets held more than 1 year. Enter a negative number for a net loss. Taxed at preferential rates: 0%, 15%, or 20% (IRS Topic 409)

Prior-year long-term capital loss carryover Unused long-term losses from prior years carried forward. These first offset any long-term gains, then short-term gains. Enter as a positive number. (IRS Topic 409)

Spouse's traditional 401(k) contributions

Spouse's traditional IRA contributions

Spouse's ABLE account contributions

Child Tax Credit
$2,200 per qualifying child

Requirements:

• Be under 17 at the end of the tax year.
• Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece or nephew).
• Not provide more than half of his or her own support for the tax year.
• Have lived with you for more than half the tax year.
• Be claimed as a dependent on your return.
• Not file a joint return for the year (or filed the joint return only to claim a refund of taxes withheld or estimated taxes).
• Be a U.S. citizen, U.S. National or a U.S. resident alien.

Refundable Portion (Additional Child Tax Credit): Up to $1,700 per qualifying child

IRS: Child Tax Credit  |  IRS: 2025 Withholding Update

EITC — Qualifying Child Requirements (IRC §32(c)(3))

Requirements:

• Be under 19 at the end of the tax year, OR under 24 and a full-time student, OR permanently and totally disabled at any age. Note: this is broader than the Child Tax Credit — children who are 17 or 18, full-time students aged 19–23, and disabled dependents of any age may qualify here even if they did not qualify for the CTC.
• Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece or nephew).
• Have lived with you in the United States for more than half the tax year.
• Not file a joint return for the year (or filed the joint return only to claim a refund of taxes withheld or estimated taxes).
• Have a valid Social Security Number issued on or before the due date of your return — ITINs and ATINs do not qualify.
• Not be claimed as a qualifying child by another taxpayer for the same tax year.

IRS: EITC Qualifying Child Rules  |  IRS: 2025 EITC Tables

Child and Dependent Care Credit (Form 2441)

Credit is 20%–35% of qualifying expenses, based on your AGI. Most filers earning over $43,000 receive 20%.

Expense cap: $3,000 for 1 qualifying person · $6,000 for 2 or more
Maximum credit: $600 (1 person) · $1,200 (2+ persons) for most filers

This credit is nonrefundable — it can reduce your tax to $0 but cannot generate a refund.

IRS: Child and Dependent Care Credit  |  IRS: Topic No. 602  |  IRS: Form 2441

Total qualified education expenses paid in 2025 Enter total across all eligible students. We'll apply the $4,000/student cap automatically.

American Opportunity Tax Credit (Form 8863)

Credit per student: 100% of first $2,000 + 25% of next $2,000 = up to $2,500
Refundable portion: 40% of the credit (up to $1,000 per student)
Phase-out: Begins at $80,000 MAGI (single) / $160,000 (joint) — eliminated at $90,000 / $180,000
Limit: 4 tax years per student (not necessarily consecutive)

Student must:

• Be enrolled at least half-time in a degree or credential program
• Not have completed the first 4 years of higher education
• Have no felony drug conviction at the end of the tax year
• Have a valid TIN issued by the return due date

IRS: American Opportunity Tax Credit  |  IRS: Form 8863

Lifetime Learning Credit (Form 8863)

Credit: 20% of qualifying expenses, up to $10,000 in expenses = up to $2,000 per return
Refundable: No — can only reduce tax to $0, no carryforward
Phase-out: Begins at $80,000 MAGI (single) / $160,000 (joint) — eliminated at $90,000 / $180,000
No year limit — claim every year the student is enrolled

Eligible students: yourself, your spouse, or a dependent you claim on your return.

Qualifying Child — all 5 tests must be met:

• Relationship: Your son, daughter, stepchild, foster child, brother, sister, half-sibling, stepsibling, or a descendant of any of them (e.g. grandchild, niece, nephew)
• Age: Under 19 at year-end; or under 24 and a full-time student; or any age if permanently and totally disabled — and must be younger than you (or your spouse if MFJ)
• Residency: Lived with you for more than half the year
• Support: Did not provide more than half of their own support
• Joint return: Did not file a joint return for the year (unless only to claim a refund)

Qualifying Relative — all 4 tests must be met:

• Not a qualifying child: The person is not your qualifying child or the qualifying child of any other taxpayer
• Relationship or household: Must be related to you in one of the following ways (and does not need to live with you) — child/stepchild/foster child age 19+, parent or grandparent, sibling, half-sibling, stepsibling, stepparent, niece or nephew, aunt or uncle, in-law (son, daughter, father, mother, brother, sister); or any other person who lived with you all year as a member of your household
• Gross income: The person's gross income for the year was less than $5,200
• Support: You provided more than half of the person's total support for the year

Note: a dependent claimed for the LLC does not need to meet the under-17 age requirement that applies to the Child Tax Credit — a 20-year-old college student or an elderly parent you support can both qualify.

IRS: Lifetime Learning Credit  |  IRS: Form 8863  |  IRS: Publication 501 — Dependents

Charitable Contribution Deduction (Schedule A, Lines 11–12)

Limit: Cash donations to public charities — up to 60% of AGI
Carries forward: Excess contributions carry forward up to 5 years
Records required: Bank record or receipt for any amount; written acknowledgment for $250+

Does NOT qualify: Value of time/services, political contributions, raffle tickets, dues to social clubs, or donations to individuals.

IRS: Publication 526 — Charitable Contributions  |  IRS: Schedule A