J. K. Lasser's your income tax 2022 : for preparing your 2021 tax return / by J.K. Lasser Institute.

Format:

Book

Author/Creator:

J.K. Lasser Institute, author.

Series:

J. K. Lasser

Language:

English

Subjects (All):

Income tax--United States--Handbooks, manuals, etc.

Income tax.

Tax returns--United States--Handbooks, manuals, etc.

Tax returns.

Physical Description:

1 online resource (931 pages)

Place of Publication:

Hoboken, New Jersey : John Wiley & Sons, [2022]

Summary:

The latest entry in America's #1 all-time, best-selling tax guide 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.

Contents:

Cover

Title Page

Copyright Page

Contents

What's New for 2021

Tax News for 2021

Key Tax Numbers for 2021

Tax-Saving Opportunities for 2021 and Beyond

Pending Tax Rule Changes

Expiring Provisions

Part 1 Filing Basics

Do You Have to File a 2021 Tax Return?

Filing Tests for Dependents: 2021 Returns

Where to File Your 2021 Form 1040 or 1040-SR

Filing Deadlines (on or before)

What Forms Do You Need to File?

Chapter 1 Filing Status

1.1 Which Filing Status Should You Use?

1.2 Tax Rates Based on Filing Status

1.3 Filing Separately Instead of Jointly

1.4 Filing a Joint Return

1.5 Nonresident Alien Spouse

1.6 Community Property Rules

1.7 Innocent Spouse Rules

1.8 Separate Liability Relief for Former Spouses

1.9 Equitable Relief

1.10 Death of Your Spouse in 2021

1.11 Qualifying Widow/Widower Status for 2021 If Your Spouse Died in 2020 or 2019

1.12 Qualifying as Head of Household

1.13 Filing for Your Child

1.14 Return for Deceased

1.15 Return for an Incompetent Person

1.16 How a Nonresident Alien Is Taxed

1.17 How a Resident Alien Is Taxed

1.18 Who Is a Resident Alien?

1.19 Certificate of Tax Compliance for Alien Leaving the United States

1.20 Expatriation Tax

Part 2 Reporting Your Income

Chapter 2 Wages, Salary, and Other Compensation

2.1 Salary and Wage Income

2.2 Constructive Receipt of Year-End Paychecks

2.3 Pay Received in Property Is Taxed

2.4 Commissions Taxable When Credited

2.5 Unemployment Benefits

2.6 Strike Pay Benefits and Penalties

2.7 Nonqualified Deferred Compensation

2.8 Did You Return Wages Received in a Prior Year?

2.9 Waiver of Executor's and Trustee's Commissions

2.10 Life Insurance Benefits

2.11 Educational Benefits for Employees' Children

2.12 Sick Pay Is Taxable.

2.13 Workers' Compensation Is Tax Free

2.14 Disability Pay and Pensions

2.15 Stock Appreciation Rights (SARs)

2.16 Stock Options

2.17 Election to Defer Income on Qualified EquityGrants from Private Companies (Section 83(i) election)

2.18 Restricted Stock

Chapter 3 Fringe Benefits

3.1 Tax-Free Health and Accident Coverage Under Employer Plans

3.2 Health Savings Accounts (HSAs) and Archer MSAs

3.3 Reimbursements and Other Tax-Free Payments From Employer Health and Accident Plans

3.4 Group-Term Life Insurance Premiums

3.5 Dependent Care Assistance

3.6 Adoption Benefits

3.7 Education Assistance Plans

3.8 Company Cars, Parking, and Transit Passes

3.9 Working Condition Fringe Benefits

3.10 De Minimis Fringe Benefits

3.11 Employer-Provided Retirement Advice

3.12 Employee Achievement Awards

3.13 Employer-Furnished Meals or Lodging

3.14 Minister's Housing or Housing Allowance

3.15 Cafeteria Plans Provide Choice of Benefits

3.16 Flexible Spending Arrangements

3.17 Company Services Provided at No Additional Cost

3.18 Discounts on Company Products or Services

Chapter 4 Dividend and Interest Income

4.1 Reporting Dividends and Mutual Fund Distributions

4.2 Qualified Corporate Dividends Taxed at Favorable Capital Gain Rates

4.3 Dividends From a Partnership, S Corporation, Estate, or Trust

4.4 Real Estate Investment Trust (REIT) Dividends

4.5 Taxable Dividends of Earnings and Profits

4.6 Stock Dividends on Common Stock

4.7 Dividends Paid in Property

4.8 Taxable Stock Dividends

4.9 Who Reports the Dividends

4.10 Year Dividends Are Reported

4.11 Distribution Not Out of Earnings: Return of Capital

4.12 Reporting Interest on Your Tax Return

4.13 Interest on Frozen Accounts Not Taxed

4.14 Interest Income on Debts Owed to You.

4.15 Reporting Interest on Bonds Bought or Sold

4.16 Forfeiture of Interest on Premature Withdrawals

4.17 Amortization of Bond Premium

4.18 Discount on Bonds

4.19 Reporting Original Issue Discount on Your Return

4.20 Reporting Income on Market Discount Bonds

4.21 Discount on Short-Term Obligations

4.22 Stripped Coupon Bonds and Stock

4.23 Sale or Retirement of Bonds and Notes

4.24 State and City Interest Generally Tax Exempt

4.25 Taxable State and City Interest

4.26 Tax-Exempt Bonds Bought at a Discount

4.27 Treasury Bills, Notes, and Bonds

4.28 Interest on United States Savings Bonds

4.29 Deferring United States Savings Bond Interest

4.30 Minimum Interest Rules

4.31 Interest-Free or Below-Market-Interest Loans

4.32 Minimum Interest on Seller-Financed Sales

Chapter 5 Reporting Property Sales

5.1 General Tax Rules for Property Sales

5.2 How Property Sales Are Classified and Taxed

5.3 Capital Gains Rates and Holding Periods

5.4 Capital Losses and Carryovers

5.5 Capital Losses of Married Couples

5.6 Losses May Be Disallowed on Sales to Related Persons

5.7 Special Treatment of Gain on Sale of Small Business Stock or Qualified Opportunity Zone Investment

5.8 Reporting Capital Asset Sales on Form 8949 and on Schedule D

5.9 Counting the Months in Your Holding Period

5.10 Holding Period for Securities

5.11 Holding Period for Real Estate

5.12 Holding Period: Gifts, Inheritances, and Other Property

5.13 Calculating Gain or Loss

5.14 Amount Realized Is the Total Selling Price

5.15 Finding Your Cost

5.16 Unadjusted Basis of Your Property

5.17 Basis of Property You Inherited or Received as a Gift

5.18 Joint Tenancy Basis Rules for Surviving Tenants

5.19 Allocating Cost Among Several Assets

5.20 How To Find Adjusted Basis.

5.21 Tax Advantage of Installment Sales

5.22 Figuring the Taxable Part of Installment Payments

5.23 Electing Not To Report on the Installment Method

5.24 Restriction on Installment Sales to Relatives

5.25 Contingent Payment Sales

5.26 Using Escrow and Other Security Arrangements

5.27 Minimum Interest on Deferred Payment Sales

5.28 Dispositions of Installment Notes

5.29 Repossession of Personal Property Sold on Installment

5.30 Boot in Like-Kind Exchange Payable in Installments

5.31 "Interest" Taxed if Sales Price Exceeds 150,000 With Over 5 Million Debt

5.32 Worthless Securities

5.33 Tax Consequences of Bad Debts

5.34 Four Rules To Prove a Bad Debt Deduction

5.35 Family Bad Debts

Chapter 6 Tax-Free Exchanges of Property

6.1 Like-Kind Exchanges of Real Property Used for Investment or Business

6.2 Receipt of Cash and Other Property-"Boot"

6.3 Time Limits and Security Arrangements for Deferred Exchanges

6.4 Qualified Exchange Accommodation Arrangements (QEAAs) for Reverse Exchanges

6.5 Exchanges Between Related Parties

6.6 Property Transfers Between Spouses and Ex-Spouses

6.7 Tax-Free Exchanges of Stock in Same Corporation

6.8 Joint Ownership Interests

6.9 Setting up Closely Held Corporations

6.10 Tax-Free Exchanges of Insurance Policies

Chapter 7 Retirement and Annuity Income

7.1 Retirement Distributions on Form 1099-R

7.2 Lump-Sum Distributions

7.3 Lump-Sum Options If You Were Born Before January 2, 1936

7.4 Lump-Sum Payments Received by Beneficiary

7.5 Tax-Free Rollovers From Qualified Plans

7.6 Direct Rollover or Personal Rollover

7.7 Rollover of Proceeds From Sale of Property

7.8 Distribution of Employer Stock or Other Securities

7.9 Survivor Annuity for Spouse

7.10 Court Distributions to Former Spouse Under a QDRO.

7.11 When You Must Begin Receiving Required Minimum Distributions (RMDs)

7.12 Payouts to Beneficiaries

7.13 Penalty for Distributions Before Age 59½

7.14 Restrictions on Loans From Company Plans

7.15 Tax Benefits of 401(k) Plans

7.16 Limit on Salary-Reduction Deferrals

7.17 Withdrawals From 401(k) Plans Restricted

7.18 Designated Roth Account Within 401(k), 403(b), or Governmental 457 Plans

7.19 403(b) Plans (Tax-Sheltered Annuity Plans) for Employees of Tax-Exempts and Schools and Ministers

7.20 Government and Exempt Organization Deferred Pay Plans

7.21 Figuring the Taxable Part of Commercial Annuities

7.22 Life Expectancy Tables

7.23 When You Convert Your Endowment Policy

7.24 Reporting Employee Annuities

7.25 Simplified Method for Calculating Taxable Employee Annuity

7.26 Employee's Cost in Annuity

7.27 Withdrawals From Employer's Qualified Retirement Plan Before Annuity Starting Date

7.28 Coronavirus-Related Distributions

7.29 Qualified Disaster Distributions

Chapter 8 IRAs

8.1 Starting a Traditional IRA

8.2 Contribution Limit for Traditional IRAs

8.3 Contributions to a Traditional IRA If You Are Married

8.4 Restrictions on Traditional IRA Deduction for Active Participants in Employer Plans

8.5 Active Participation in an Employer Plan

8.6 Nondeductible Contributions to Traditional IRAs

8.7 Penalty for Excess Contributions to Traditional IRAs

8.8 Distributions From Traditional IRAs

8.9 Partially Tax-Free Traditional IRA Distributions Allocable to Nondeductible Contributions

8.10 Tax-Free Direct Transfer or Rollover From One Traditional IRA to Another

8.11 Transfer of Traditional IRA to Spouse at Divorce

8.12 Penalty for Traditional IRA Withdrawals Before Age 59½

8.13 Required Minimum Distributions (RMDs) From a Traditional IRA.

8.14 Beneficiaries of Traditional IRA Owners Who Died Before 2020.

Notes:

Description based on print version record.

Includes index.

Other Format:

Print version: Institute, J.K. Lasser J. K. Lasser's Your Income Tax 2022

ISBN:

9781119839224

111983922X

9781119839231

1119839238

OCLC:

1288411093