J.K. Lasser's Your Income Tax 2020

J.K. Lasser's Your Income Tax 2020

by J.K. Lasser Institute

Hardcover(Professional Edition)

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America's most trusted tax advice, backed by detailed citations of authoritative tax references

J.K. Lasser's Your Income Tax Professional Edition 2020 is the tax preparer's guide to smart tax filing and planning. The Professional Edition not only includes the trusted guidance, clear advice, and money-saving tips featured in Your Income Tax, but also provides citations of tax authorities to help tax professionals easily locate the law, IRS rulings and court decisions that support the text. Fully up to date with the newest changes for 2019 tax returns, expert guidance from J.K. Lasser helps you maximize deductions and shelter income while providing hundreds of examples of how tax laws apply to individual situations. While evolving tax law can get very complex very quickly, this invaluable guide is designed to help you find the answers you need without wading through volumes of the Internal Revenue Code or IRS materials. Special icons call out new laws, IRS rulings, court decisions, filing pointers and planning strategies, allowing you to locate important information without breaking your workflow.

Keeping up with changes to tax law is itself a full-time job—if it's not your full-time job, let the experts at J.K. Lasser do the legwork for you! Read from beginning to end or dip in and out as needed—this exceptional resource will help you:

  • Get expert answers to tough tax situations quickly
  • Navigate new laws, court decisions, IRS rulings, and more
  • Locate authoritative sources easily with citations of references from the Code, the courts and the IRS.
  • Avoid common pitfalls and adopt smart planning strategies for next year

Accessible, down-to-earth tax advice is always appreciated, but professional tax preparers need more—such as authoritative sources to back their advice and clarify tricky situations that their clients may encounter. J.K. Lasser's Your Income Tax Professional Edition 2020 provides a quick one-stop resource for every tax pro, merging detailed citations with America's most trusted tax advice for over 65 years.

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Product Details

ISBN-13: 9781119595137
Publisher: Wiley
Publication date: 02/26/2020
Series: J.K. Lasser Series
Edition description: Professional Edition
Pages: 1072
Sales rank: 830,135
Product dimensions: 8.90(w) x 11.00(h) x 2.40(d)

About the Author

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 sixty years and read by over 39,000,000 people. The J.K. Lasser Institute also publishes several 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.

Table of Contents

What’s New for 2019 xxvii

Tax News for 2019 xxvii

Key Tax Numbers for 2019 xxx

Tax-Saving Opportunities for 2019 xxxiii

Pending Legislation That Could Affect 2019 Returns xxxiv

Filing Basics 1

1. Filing Status 9

Reporting Your Income 35

2. Wages, Salary, and Other Compensation 37

3. Fringe Benefits 56

4. Dividend and Interest Income 81

5. Reporting Property Sales 109

6. Tax-Free Exchanges of Property 158

7. Retirement and Annuity Income 172

8. IRAs 212

9. Income From Real Estate Rentals and Royalties 261

10. Loss Restrictions: Passive Activities and At-Risk Limits 281

11. Other Income 311

Claiming Deductions 335

12. Deductions Allowed in Figuring Adjusted Gross Income 337

13. Claiming the Standard Deduction or Itemized Deductions 343

14. Charitable Contribution Deductions 350

15. Itemized Deduction for Interest Expenses 377

16. Deductions for Taxes 395

17. Medical and Dental Expense Deductions 404

18. Casualty and Theft Losses and Involuntary Conversions 423

19. Other Itemized Deductions 446

20. Travel and Meal Expense Deductions 449

Personal Tax Computations 469

21. Dependents 471

22. Figuring Your Regular Income Tax Liability 484

23. Alternative Minimum Tax (AMT) 489

24. Computing the “Kiddie Tax” on Your Child’s Unearned Income 497

25. Personal Tax Credits Reduce Your Tax Liability 503

26. Tax Withholdings 527

27. Estimated Tax Payments 534

28. Additional Medicare Tax and Net Investment Income Tax 540

Tax Planning 547

29. Tax Savings for Residence Sales 549

30. Tax Rules for Investors in Securities 566

31. Tax Savings for Investors in Real Estate 583

32. Tax Rules for Investors in Mutual Funds 597

33. Educational Tax Benefits 606

34. Special Tax Rules for Senior Citizens and the Disabled 625

35. Members of the Armed Forces 639

36. How to Treat Foreign Earned Income 647

37. Planning Alimony and Marital Settlements 658

38. Other Taxes 665

39. Gift and Estate Tax Planning Basics 671

Business Tax Planning 679

40. Income or Loss from Your Business or Profession 681

41. Retirement and Medical Plans for Self-Employed 713

42. Claiming Depreciation Deductions 725

43. Deducting Car and Truck Expenses 742

44. Sales of Business Property 757

45. Figuring Self-Employment Tax 764

Filing Your Return and What Happens After You File 773

46. Filing Your Return 775

47. Filing Refund Claims, and Amended Returns 784

48. If the IRS Examines Your Return 788

2019 Tax Forms 803

Part 9 839

Part 10 845

Part 11 963

Glossary 1001

Index 1007

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