In 2025, long-term capital gains are taxed at 0%, 15%, or 20% based on income, while short-term gains are taxed as ordinary income up to 37%.

Report rental income and expenses on Schedule E (Form 1040). Include rent, deposits kept, and deductible costs like mortgage interest and depreciation.

Report RSU and stock option income on Form W-2; sales go on Form 8949 and Schedule D. ISOs may also require AMT reporting on Form 6251.

Report cryptocurrency sales, trades, or income on IRS Form 8949 and Schedule D; mining and staking rewards go on Schedule 1 or Schedule C as income.

No, you don’t pay federal tax on an inheritance in 2025, but income from inherited assets or state-level taxes may apply depending on your location.

Yes, U.S. citizens and resident aliens must report all worldwide income, including foreign income, on their U.S. tax return, unless legally exempt.

Life insurance payouts are generally not taxable, but interest, installment payments, employer-owned policies, and some transfers may trigger taxes.

Yes, you must report all interest earned on savings accounts as income on your tax return, even if you don’t receive a 1099-INT.

Alimony received in 2025 is taxable only if your divorce agreement was executed before 2019 and hasn’t been modified to exclude it from income.

Scholarships and grants are tax-free if used for tuition and required expenses by degree candidates, but amounts used for room, board, or compensation for services are taxable.

Gambling winnings are fully taxable and must be reported; losses can be deducted only if you itemize and cannot exceed your reported winnings.

Unemployment benefits remain taxable in 2025 under current IRS rules—recipients should report them as income and consider tax withholding.

Social Security benefits may be taxable depending on your income—up to 85% could be taxed if your combined income exceeds IRS thresholds

Selling items online? Report all income—business sales go on Schedule C, personal gains may be taxable, and losses generally aren’t deductible.

Report side hustle income on Schedule C if it’s a business, or Schedule 1 if it’s a hobby—track all income, even without a 1099 form.

Gig workers don’t file Form 1099-NEC themselves; it’s issued by payers. Still, all income must be reported, even without receiving the form.

Yes, income from freelance or gig work like Uber or Etsy must be reported and may require paying self-employment tax if earnings exceed $400.