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J.K. Lasser's Your Income Tax 2018: For Preparing Your 2017 Tax Return

ISBN: 978-1-119-38008-5
848 pages
October 2017
J.K. Lasser

Description

The nation's most trusted tax guide, updated for your 2017 returns

J.K. Lasser's Your Income Tax 2018 is the nation's most trusted tax guide, updated to help you prepare your 2017 return. Step-by-step expert guidance walks you through the forms, calculations, and deadlines to help you file your taxes without the headaches. New changes including tax laws, IRS rulings, court decisions, and more are explained in plain English, backed by examples of how they apply to individual taxpayers like yourself. Explore your options in terms of deductions, income shelters, and planning strategies to maximize your savings and keep more of your money—without wading through volumes of dense tax code. This comprehensive yet accessible guide is your handbook for making your tax filing for 2017 easier than you thought possible.

Tax time does not have to be a source of stress and anxiety. With the experts at J.K. Lasser by your side, you can file correctly and on time while paying less than you thought; this book shows you everything you need to know, and gives you the answers you need right at your fingertips.

  • Learn how the latest changes from the IRS affect your return
  • Get trusted advice for maximizing deductions and sheltering income
  • Navigate the many IRS forms with step-by-step guidance
  • Start planning now to streamline next year's filing

Keeping up with ever-changing tax laws is a full-time job, decoding incomprehensible IRS forms can be an exercise in frustration, and searching for the answers you need can often leave you with more questions. Americans have been turning to J.K. Lasser for over 75 years to find trusted guidance on critical tax issues. J.K. Lasser's Your Income Tax 2018 is this year's essential guide to taking the stress out of tax time.

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Table of Contents

FILING BASICS 1

Filing Status 9

REPORTING YOUR INCOME 33

Wages, Salary, and Other Compensation 35

Fringe Benefi ts 52

Dividend and Interest Income 75

Reporting Property Sales 101

Tax-Free Exchanges of Property 146

Retirement and Annuity Income 161

IRAs 197

Income From Real Estate Rentals and Royalties 243

Loss Restrictions: Passive Activities and At-Risk Limits 260

Other Income 288

CLAIMING DEDUCTIONS 311

Deductions Allowed in Figuring Adjusted Gross Income 313

Claiming the Standard Deduction or Itemized Deductions 322

Charitable Contribution Deductions 330

Itemized Deduction for Interest Expenses 354

Deductions for Taxes 371

Medical and Dental Expense Deductions 378

Casualty and Theft Losses and Involuntary Conversions 396

Deducting Job Costs and Other Miscellaneous Expenses 421

Travel and Entertainment Expense Deductions 435

Personal Exemptions 461

PERSONAL TAX COMPUTATIONS 475

Figuring Your Regular Income Tax Liability 477

Alternative Minimum Tax (AMT) 481

Computing the “Kiddie Tax” on Your Child’s Investment Income 489

Personal Tax Credits Reduce Your Tax Liability 495

Tax Withholdings 516

Estimated Tax Payments 523

Additional Medicare Tax and Net Investment Income Tax 529

TAX PLANNING 535

Tax Savings for Residence Sales 537

Tax Rules for Investors in Securities 552

Tax Savings for Investors in Real Estate 568

Tax Rules for Investors in Mutual Funds 581

Educational Tax Benefi ts 590

Savings Account (ESA) 599

Home To Take Courses 607

Special Tax Rules for Senior Citizens and the Disabled 609

Members of the Armed Forces 621

How To Treat Foreign Earned Income 628

Planning Alimony and Marital Settlements 639

Other Taxes 646

Gift and Estate Tax Planning Basics 654

BUSINESS TAX PLANNING 663

Income or Loss From Your Business or Profession 665

Retirement and Medical Plans for Self-Employed 693

Claiming Depreciation Deductions 703

Deducting Car and Truck Expenses 720

Sales of Business Property 734

Figuring Self-Employment Tax 741

FILING YOUR RETURN AND WHAT HAPPENS AFTER YOU FILE 749

Filing Your Return 751

Filing Refund Claims, and Amended Returns 759

If the IRS Examines Your Return 763

2017 SAMPLE TAX FORMS 775

2017 Form 1040 777

Schedule A 779

Schedule B 780

Schedule C 781

Schedule D 783

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