The most up-to-date entry in America’s #1 all-time best-selling personal tax guide
J.K. Lasser’s Your Income Tax 2024: For Preparing Your 2023 Tax Return delivers practical and hands-on guidance for everyday people preparing to file their taxes for the 2023 calendar year. You’ll find timely and up-to-date info about the latest changes to the US tax code, as well as worksheets and forms you can use to make filing your taxes easier. You’ll get the most current insight on how to maximize your credits and deductions, keeping more money in your pocket.
In the latest edition of this celebrated and best-selling series, you’ll find:
* Special features that walk you through the most recent Tax Court decisions and IRS rulings that determine how your deductions and credits will work
* Simple tips and tricks on how to properly file your taxes, as well as tax planning strategies that save you and your family money
* Brand new info about the latest legislation from Congress and how it impacts you
Trusted by hundreds of thousands of Americans for over 80 years, J.K. Lasser’s Your Income Tax 2024 is the perfect resource for everyone looking for the latest and most up-to-date personal tax information to make filing their next tax return a breeze.
Cuprins
What’s New for 2023 xxvii
Tax News for 2023 xxvii
Key Tax Numbers for 2023 xxx
Tax-Saving Opportunities for 2023 and Beyond xxxii
Expiring Provisions xxxiii
Filing Basics 1
Filing Status 9
Reporting Your Income 35
Wages, Salary, and Other Compensation 37
Fringe Benefits 56
Dividend and Interest Income 81
Reporting Property Sales 109
Tax-Free Exchanges of Property 158
Retirement and Annuity Income 172
Income From Real Estate Rentals and Royalties 262
Loss Restrictions: Passive Activities and At-Risk Limits 282
Other Income 312
Claiming Deductions 337
Deductions Allowed in Figuring Adjusted Gross Income 339
Claiming the Standard Deduction or Itemized Deductions 345
Charitable Contribution Deductions 352
Itemized Deduction for Interest Expenses 379
Deductions for Taxes 397
Medical and Dental Expense Deductions 406
Casualty and Theft Losses and Involuntary Conversions 426
Other Itemized Deductions 451
Travel and Meal Expense Deductions 454
Personal Tax Computations 475
Dependents 477
Figuring Your Regular Income Tax Liability 491
Alternative Minimum Tax (AMT) 496
Computing the ‘Kiddie Tax’ on Your Child’s Unearned Income 504
Personal Tax Credits Reduce Your Tax Liability 510
Tax Withholdings 534
Estimated Tax Payments 542
Additional Medicare Tax and Net Investment Income Tax 548
Tax Planning 555
Tax Savings for Residence Sales 557
Tax Rules for Investors in Securities 575
Tax Savings for Investors in Real Estate 592
Tax Rules for Investors in Mutual Funds 606
Educational Tax Benefits 615
Special Tax Rules for Senior Citizens and the Disabled 634
Members of the Armed Forces 649
How To Treat Foreign Earned Income 657
Planning Alimony and Marital Settlements 668
Other Taxes 673
Gift and Estate Tax Planning Basics 679
Business Tax Planning 689
Income or Loss From Your Business or Profession 691
Retirement and Medical Plans for Self-Employed 721
Claiming Depreciation Deductions 734
Deducting Car and Truck Expenses 751
Sales of Business Property 766
Figuring Self-Employment Tax 773
Filing Your Return and the Process After You File 783
Filing Your Return 785
Filing Refund Claims, and Amended Returns 794
If the IRS Examines Your Return 798
2023 Tax Forms 811
Glossary 857
Index 863