J.K. Lasser′s Your Income Tax 2017 , Professional Edition
J.K. Lasser Series

J.K. Lasser?s Your Income Tax: Professional Edition, 2017 offers individual taxpayers and tax professionals the latest, most up to date tax information. Completely annotated, this authoritative text guides you toward the case law, IRS code sections, and regulations that support the content, which is presented in an approachable yet comprehensive manner. Additionally, this best?selling resource delivers tax?saving advice for maximizing deductions and sheltering income. Through hundreds of examples, you explore how to apply tax laws to individual tax payers, allowing you to create effective tax strategies that align with regulations. Finally, special features throughout the content call your attention to important concepts, such as icons that highlight new tax laws, IRS rulings, court decisions, filing pointers, and planning strategies.

Taxes are extremely complicated. Whether you are a professional or an individual taxpayer, it is critical that you understand how to get the highest return possible when filing either your taxes or those of your client.

• Leverage revised content that features the most updated tax code information
• Easily find the information you are looking for with special features that call your attention to key concepts
• Protect your assets with tax?saving advice on deduction, income sheltering, and more
• Dive into extended guidance that offers annotated insight into IRS code sections, regulations, and case law

J.K. Lasser?s Your Income Tax: Professional Edition, 2017 is an updated, annotated version of a classic reference that has guided tax payers through the complexities of the income tax landscape for over 65 years.

Key Tax Numbers for 2016 xxix

FILING BASICS 1

Do You Have to File a 2016 Tax Return? 3

Filing Tests for Dependents: 2016 Returns 4

Where to File Your 2016 Return 5

Filing Deadlines (on or before) 6

Which Tax Form Should You File? 8

Filing Status 9

REPORTING YOUR INCOME 33

Wages, Salary, and Other Compensation 35

Fringe Benefits 52

Dividend and Interest Income 74

Reporting Property Sales 100

Tax–Free Exchanges of Property 145

Retirement and Annuity Income 160

IRAs 195

Income From Real Estate Rentals and Royalties 241

Loss Restrictions: Passive Activities and At–Risk Limits 258

Other Income 286

CLAIMING DEDUCTIONS 309

Deductions Allowed in Figuring Adjusted Gross Income 311

Claiming the Standard Deduction or Itemized Deductions 320

Charitable Contribution Deductions 328

Itemized Deduction for Interest Expenses 352

Deductions for Taxes 369

Medical and Dental Expense Deductions 376

Casualty and Theft Losses and Involuntary Conversions 394

Deducting Job Costs and Other Miscellaneous Expenses 419

Travel and Entertainment Expense Deductions 433

Personal Exemptions 459

PERSONAL TAX COMPUTATIONS 473

Figuring Your Regular Income Tax Liability 475

Alternative Minimum Tax (AMT) 479

Computing the “Kiddie Tax” on Your Child’s Investment Income 487

Personal Tax Credits Reduce Your Tax Liability 493

Tax Withholdings 514

Estimated Tax Payments 521

Additional Medicare Tax and Net Investment Income Tax 527

TAX PLANNING 533

Tax Savings for Residence Sales 535

Tax Rules for Investors in Securities 550

Tax Savings for Investors in Real Estate 566

Tax Rules for Investors in Mutual Funds 579

Educational Tax Benefits 588

Special Tax Rules for Senior Citizens and the Disabled 606

Members of the Armed Forces 617

How To Treat Foreign Earned Income 624

Planning Alimony and Marital Settlements 635

Other Taxes 642

Gift and Estate Tax Planning Basics 650

BUSINESS TAX PLANNING 659

Income or Loss From Your Business or Profession 661

Retirement and Medical Plans for Self–Employed 689

Claiming Depreciation Deductions 699

Deducting Car and Truck Expenses 716

Sales of Business Property 730

Figuring Self–Employment Tax 737

FILING YOUR RETURN AND WHAT HAPPENS AFTER YOU FILE 745

Filing Your Return 747

Filing Refund Claims, and Amended Returns 755

If the IRS Examines Your Return 759

2016 SAMPLE TAX FORMS 771

TAX LAW AUTHORITIES 805

CITATIONS OF AUTHORITY 811

PRACTICE BEFORE THE IRS 933

GLOSSARY 969

INDEX 975