J.K. Lasser's Your Income Tax 2022: For Preparing Your 2021 Tax Return delivers hands-on and practical advice for everyday taxpayers getting ready to file their 2021 taxes. On top of info about the latest changes to the 2021 tax code, you'll get worksheets and forms you can use to file your taxes. You'll also find the most current advice on how to maximize your deductions and credits and keep as much money in your pocket - and out of Uncle Sam's - as possible.
In the newest edition of this celebrated series, you'll find:
- Special features on how to interpret recent IRS rulings and Tax Court decisions
- Pointers for how to file properly and optimum tax planning strategies to help you save money
- New information about the American Rescue Plan Act (ARPA) and the Consolidated Appropriations Act, 2021 (CAA)
Trusted by Americans across the country for over seventy-five years, J.K. Lasser's Your Income Tax 2022 is perfect for anyone looking for the latest and most up-to-date personal tax info before they file their personal taxes.
Table of Contents
What's New for 2021 xxvii
Tax News for 2021 xxvii
Key Tax Numbers for 2021 xxx
Tax-Saving Opportunities for 2021 and Beyond xxxiii
Pending Tax Rule Changes xxxiv
Expiring Provisions xxxvi
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 84
5 Reporting Property Sales 112
6 Tax-Free Exchanges of Property 160
7 Retirement and Annuity Income 174
Claiming Deductions 341
12 Deductions Allowed in Figuring Adjusted Gross Income 343
13 Claiming the Standard Deduction or Itemized Deductions 349
14 Charitable Contribution Deductions 356
15 Itemized Deduction for Interest Expenses 384
16 Deductions for Taxes 402
17 Medical and Dental Expense Deductions 411
18 Casualty and Theft Losses and Involuntary Conversions 431
19 Other Itemized Deductions 455
20 Travel and Meal Expense Deductions 458
21 Personal Tax Computations 479
Dependents 481
22 Figuring Your Regular Income Tax Liability 495
23 Alternative Minimum Tax (AMT) 500
24 Computing the "Kiddie Tax" on Your Child's Unearned Income 508
25 Personal Tax Credits Reduce Your Tax Liability 514
26 Tax Withholdings 538
27 Estimated Tax Payments 546
28 Additional Medicare Tax and Net Investment Income Tax 552
29 Tax Planning 559
Tax Savings for Residence Sales 561
30 Tax Rules for Investors in Securities 578
31 Tax Savings for Investors in Real Estate 595
32 Tax Rules for Investors in Mutual Funds 609
33 Educational Tax Benefits 618
34 Special Tax Rules for Senior Citizens and the Disabled 636
35 Members of the Armed Forces 651
36 How To Treat Foreign Earned Income 659
37 Planning Alimony and Marital Settlements 670
38 Other Taxes 676
39 Gift and Estate Tax Planning Basics 682
Business Tax Planning 691
40 Income or Loss From Your Business or Profession 693
41 Retirement and Medical Plans for Self-Employed 723
42 Claiming Depreciation Deductions 736
43 Deducting Car and Truck Expenses 753
44 Sales of Business Property 768
45 Figuring Self-Employment Tax 775
46 Filing Your Return And What Happens After You File 785
Filing Your Return 787
47 Filing Refund Claims, and Amended Returns 795
48 If the IRS Examines Your Return 799
2021 Tax Forms 813
Form 1040 815
Form 1040-SR 817
Schedule 1 821
Schedule 2 823
Schedule 3 825
Schedule A 827
Schedule B 828
Schedule 8812 829
2021 Tax Table 832
2021 Tax Computation Worksheet 844
2021 Earned Income Credit (EIC) Table 845
Glossary 855
Index 861
