J.K. Lasser's Your Income Tax 2016: For PreparingYour 2015 Tax Return
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More About This Title J.K. Lasser's Your Income Tax 2016: For PreparingYour 2015 Tax Return

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Prepare your 2015 taxes with ease!

J.K. Lasser's Your Income Tax 2016: For Preparing Your 2015 Tax Return is a bestselling tax reference that has been trusted by taxpayers for over seventy-five years. Updated to reflect the changes to the 2015 tax code, this authoritative text offers step-by-step instructions that guide you through the worksheets and forms you need to file your taxes according to the best tax strategy for your financial situation. Approachable yet comprehensive, this highly-regarded resource offers tax-saving advice on maximizing deductions and sheltering income, and provides hundreds of examples of how up to date tax laws apply to individual taxpayers. Additionally, special features inserted throughout the text highlight important concepts, such as new tax laws, IRS rulings, court decisions, filing pointers, and planning strategies.

Tax laws change each year, and it is critical that you choose a trusted reference when updating your understanding of current tax codes. This highly-regarded text features the updated information you are looking for, as well as the fundamental best practices you need to confidently and accurately file your taxes in 2016.

Review the most recent tax law changes, ensuring that your tax preparation strategy is in line with legal requirementsExplore over 2,500 tax-saving tips that maximize your return by making the most of available deductions, sheltering income, and moreAccess free supplemental materials encompassing the tax forms you need to fileLeverage a comprehensive topic index and quick reference section to quickly pinpoint specific information and expedite the tax preparation process

J.K. Lasser's Your Income Tax 2016: For Preparing Your 2015 Tax Return is an essential text that guides you in preparing and filing your tax return with confidence.

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J.K. Lasser Institute has been the premier publisher of consumer tax guides since 1939, when Jacob Kay Lasser first published Your Income Tax. Since then, the guide has been published continuously for over seventy years and read by over 39,000,000 people. The J.K. Lasser Institute also publishes personal finance books such as Small Business Taxes and 1001 Deductions and Tax Breaks. J.K. Lasser Institute spokespeople are regularly sought after as media tax experts. They regularly appear on such broadcast programs as CNBC, CNN, and Bloomberg TV. They are also often featured in numerous periodicals, including The Wall Street Journal, USA Today, Self Magazine, The New York Times, Newsweek and Reader's Digest.

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What's New for 2015 xxv

Key Tax Numbers for 2015 xxix

FILING BASICS 1

1 Filing Status 9

REPORTING YOUR INCOME 33

2 Wages, Salary, and Other Compensation 35

3 Fringe Benefits 52

4 Dividend and Interest Income 74

5 Reporting Property Sales 100

6 Tax-Free Exchanges of Property 144

7 Retirement and Annuity Income 159

8 IRAs 193

9 Income From Real Estate Rentals and Royalties 234

10 Loss Restrictions: Passive Activities and At-Risk Limits 251

11 Other Income 279

CLAIMING DEDUCTIONS 301

12 Deductions Allowed in Figuring Adjusted Gross Income 303

13 Claiming the Standard Deduction or Itemized Deductions 312

14 Charitable Contribution Deductions 320

15 Itemized Deduction for Interest Expenses 344

16 For Investment or Business 357

17 Medical and Dental Expense Deductions 367

18 Casualty and Theft Losses and Involuntary Conversions 385

19 Deducting Job Costs and Other Miscellaneous Expenses 410

20 Travel and Entertainment Expense Deductions 424

21 Personal Exemptions 450

PERSONAL TAX COMPUTATIONS 465

22 Figuring Your Regular Income Tax Liability 467

23 Alternative Minimum Tax (AMT) 471

24 Computing the "Kiddie Tax" on Your Child's Investment Income 479

25 Personal Tax Credits Reduce Your Tax Liability 485

26 Tax Withholdings 504

27 Estimated Tax Payments 511

28 Additional Medicare Tax and Net Investment Income Tax 517

TAX PLANNING 523

29 Tax Savings for Residence Sales 525

30 Tax Rules for Investors in Securities 540

31 Tax Savings for Investors in Real Estate 556

32 Tax Rules for Investors in Mutual Funds 569

33 Educational Tax Benefits 578

34 Special Tax Rules for Senior Citizens and the Disabled 596

35 Members of the Armed Forces 607

36 How To Treat Foreign Earned Income 614

37 Planning Alimony and Marital Settlements 625

38 Other Taxes 632

39 Gift and Estate Tax Planning Basics 640

BUSINESS TAX PLANNING 649

40 Income or Loss From Your Business or Profession 651

41 Retirement and Medical Plans for Self-Employed 679

42 Claiming Depreciation Deductions 689

43 Deducting Car and Truck Expenses 706

44 Sales of Business Property 720

45 Figuring Self-Employment Tax 727

FILING YOUR RETURN AND WHAT HAPPENS AFTER YOU FILE 735

46 Filing Your Return 737

47 Filing Refund Claims, and Amended Returns 749

48 If the IRS Examines Your Return 753

2015 TAX TABLE AND TAX COMPUTATION WORKSHEET 765

2015 Tax Table 766

2015 Tax Computation Worksheet 778

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