User talk:Fyre4ce/Income tax

Intent of page
What is the intent of this page? I would proceed cautiously, as there is a very fine line between educating investors and providing tax guidance. The regulations are complex and recommendations on what is / is not taxed can be misleading.

I consider linking IRS publications to specific form lines to be very helpful.

However, statements of "generally reported", "not generally reported", "in general", etc. should not be used to bypass situations where the form or reporting condition does not apply. The reader may get the impression that the item should not be reported. If there is no form for the specific line item, I recommend simply leaving it blank or fill with '-'.

Consider removing the Comments columns as general guidance may be incomplete or incorrect. For example, "Life insurance proceeds are generally tax-free if the policy was purchased after-tax" fails to mention that interest on life insurance policy payouts is fully taxable. See this IRS guidance: Life Insurance & Disability Insurance Proceeds. Also, what-if the policy was provided by your employer (at no cost to you)? Perhaps link to helpful IRS guidance instead?

The complexities of providing even simple tax guidance can be controversial and may result in an unproductive wiki page.

--LadyGeek 22:46, 19 February 2020 (UTC)

The discussion continues in the wiki editor's private forum. --LadyGeek 00:23, 20 February 2020 (UTC)