Need to Know Tax The companion to Income Tax 2026 · Federal & Colorado

Tax year 2026 · the return you file in early 2027

The booklet explains it.
This is the rest of it.

Every article in Income Tax 2026 · Need to Know · Federal & Colorado is here at full length: the worked examples, the Colorado side, what to bring your preparer, and links to the actual forms. Written for readers, not for other preparers.

Same figures as the bookletFigures freeze in mid-December with the print edition. Anything that moves afterward goes on the updates page.
No firm is named hereWhoever handed you the booklet put their name on the cover. The articles are the same for every reader.
Built for the appointmentEvery article ends with what to bring your preparer and a link to the forms it mentions.

The topics, in booklet order

Page numbers refer to the printed booklet. Every topic in the booklet has a full article here.

Start here

What this is, and the numbers every article leans on.

  1. The numbers at a glance: 2026 and 2027p. 3

What's new on the return you're filing now

Changes that take effect on the 2026 return, filed in early 2027.

  1. The charitable deduction for people who don't itemizep. 5
  2. 2026 brackets, standard deduction, and what inflation movedp. 6
  3. Trump accounts open, the 1099-K threshold goes back up, and other changes that started in 2026p. 7
  4. Paper refund checks are endingp. 8
  5. Marketplace health insurance: the first year without the enhanced creditp. 9

Follow-up: what changed in 2025 and still applies

The 2025 law's deductions and limits, most of them running through 2028.

  1. Tips, overtime, seniors, and car loan interest: the deductions that run through 2028p. 10
  2. The $40,000 SALT cap, and who loses itp. 12
  3. The bigger standard deduction and child creditp. 13
  4. Energy credits that endedp. 14

Colorado

One flat rate, a refund written into the constitution, and subtractions that make the state kinder to retirees than it looks.

  1. What makes Colorado differentp. 15
  2. How Colorado income tax worksp. 18
  3. Colorado for retirees: the pension and Social Security subtractionsp. 22
  4. What changed in Colorado for 2026p. 24
  5. Colorado changes already enacted for 2027p. 25
  6. Give it away, pay tax anyway: the $300,000 charitable addbackp. 26

Retirement and seniors

Social Security, required distributions, Medicare premiums and the accounts that feed them.

  1. How Social Security is taxed, and how the senior deduction fitsp. 28
  2. RMDs and giving from your IRAp. 29
  3. Medicare IRMAA: the premium cliffp. 31
  4. The widow's penaltyp. 32
  5. Roth IRAs and the backdoor Rothp. 33
  6. HSAs: the deduction people missp. 34
  7. Tax breaks for retirement saversp. 35
  8. Estimated payments: who has to make them, and the safe harborp. 36
  9. Medical expenses: what counts, the 7.5% floor, Medicare and long-term care premiumsp. 37

Family

Children, dependents, college, and the return nobody wants to file.

  1. The child tax credit and Trump accountsp. 38
  2. Who counts as a dependentp. 39
  3. Summer camp counts: the dependent care creditp. 40
  4. Education creditsp. 41
  5. Beyond the credits: 529s, student loans, forgivenessp. 42
  6. When a loved one dies: final returns and inherited IRAsp. 43

Deductions, credits, and gains

Whether to file, what to deduct, and how gains and gifts are taxed.

  1. Do you even need to file?p. 44
  2. Itemized vs. standardp. 45
  3. The earned income creditp. 46
  4. Capital gains: how your gains are taxedp. 47
  5. Charitable giving: the $250 receipt rule, noncash donations, mileagep. 48
  6. Gift and estate taxesp. 49
  7. The tax code for high earners: the phase-outsp. 50
  8. Why your refund wasn't what you expected: withholdingp. 52

Questions everyone gets asked

The yes-or-no boxes, the letters, the scams, and the odd income that shows up on a return.

  1. The digital asset questionp. 53
  2. IP PINs and tax identity theftp. 54
  3. Gambling and sports betting: winnings, losses, the W-2Gp. 55
  4. Cancellation of debt: when forgiven debt is incomep. 56
  5. Kiddie tax, household employees, and foreign accountsp. 57
  6. The IRS Dirty Dozen scamsp. 58

Side income

Payment apps, hobbies, and when a side activity becomes a business.

  1. Venmo, PayPal, Etsy, eBay: the 1099-Kp. 59
  2. Is it a business or a hobby?p. 60

Back pages

The calendar, what to bring, and a word about AI.

  1. Should you trust AI with your taxes?p. 61
  2. The 2027 tax calendarp. 62
  3. Getting ready: what to bring, and the questions you'll be askedp. 63
  4. The organizer: what to bring, by situation