Tax Form and Publication Changes

• Form 1040, U.S. Individual Income Tax Return, includes a checkbox and entry field in the Filing Status section that allows taxpayers to elect to treat a nonresident alien spouse or dual-status alien spouse as a resident.
• Schedule 1 (Form 1040), Additional Income and Adjustments to Income, includes an entry field for taxpayers who had amounts reported on a Form 1099-K in error or for items sold at a loss.
• Form W-2, Wage and Tax Statement, includes a new Box 12 code II for Medicaid waiver payments excluded from income under Notice 2014-7.
• Form 1099-DA, Digital Asset Proceeds From Broker Transactions. For digital asset sales prior to 2025, the broker is not required to file a Form 1099-DA. The broker may, however, voluntarily file a Form 1099-DA or Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, for each customer for whom the broker has effected a sale of digital assets.
• Publication 1244, Employee's Daily Record of Tips and Report of Tips to Employer, is obsolete. Publication 531, Reporting Tip Income, will no longer be updated annually. It is changed to continuous use.
• Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, adds two new codes for the exceptions to the additional tax on early distributions on eligible distributions to a domestic abuse victim and emergency personal expense distributions, effective for distributions made after 12/31/2023.
• Form 8888, Allocation of Refund, is now only used to split your direct deposit refund between 2 or more accounts or to split your refund between a direct deposit and a paper check. The program allowing for depositing refunds into a Treasury Direct® account to buy savings bonds, as well as the ability to buy paper bonds with refunds, has been discontinued.