New tax forms

Here is an early release of the new Federal tax forms. The big difference for retirement plans is that the old IRA line (15a & b) and the pension line (16a & b) of the old 1040 have now been combined into one line (4a & b) for reporting all forms 1099-R.

And also the old form 1040 has been replaced with the new 1040 plus 5 new schedules with largely the same lines as before. The exemptions are now out, along with the rules for determining who can claim the exemption, the standard deduction amounts have been increased, and the rates have been adjusted.

https://www.nytimes.com/2018/06/25/your-money/1040-income-tax-postcard.html



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