Reddit Formatting can be convenient
Italics is Italics
Bold makes Bold
Strikethrough turns into Strikethrough
Spolier will be Spoiler (at least on /r/askreddit)
Four spaces will make text like this
Quotation turns into
Quotation
Hastags Actually Make Headers
This makes a list
Tables | Can | Be
:--:|:--:|:--:
Made | Like | This
[View formatted table]
Tables Can Be
Made Like This
There are some others, but that covers some of the basics.
Edit: Someone asked how I made the explanations show up without actually doing the action. So I figured I'd explain.
If you put a \ next to something then it won't be used for formatting. So *Italics* would show up as Italics. Now, when I made it show up with the \ I actually had to use three. The first one cancels the effect of the next character, the second one is a backslash that has been cancelled, and so doesn't do anything for formatting and just appears regularly, and the third cancels the asterisk so that it doesn't generate italics.