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West Federal Taxation 2006 Comprehensive Volume, Professional Version

by: Willis, Eugene; Hoffman, William H.; Maloney, David M.; Raabe, William A.

West Federal Taxation 2006 Comprehensive Volume, Professional Version

by: Willis, Eugene; Hoffman, William H.; Maloney, David M.; Raabe, William A.

ISBN 13:
9780324304954
ISBN 10:
0324304951
Format: Hardcover
Copyright: 04/20/2005
Publisher: South-Western College/West
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Summary

Combining the number one Individual tax text with the number one Corporations text, WEST FEDERAL TAXATION: COMPREHENSIVE VOLUME, 2006 EDITION is a true winner. An edited version of the first two WFT textbooks, this book offers a thorough and balanced treatment of relevant tax Code and regulations as applied to individuals and corporations. Ideal for undergraduate or graduate levels, this text works for either a one-semester course in which an instructor wants to integrate coverage of individual and corporate taxation, or for a two-semester sequence in which the use of only one book is desired.

Preface

iii

An Introduction to Taxation and Understanding the Federal Tax Law

(1)

History of U.S. Taxation

(1)

Early Periods

(1)

Revenue Acts

(1)

Historical Trends

(1)

Criteria Used in the Selection of a Tax Structure

(1)

Tax in the News: Adam Smith Stopped Too Soon

(1)

The Tax Structure

(1)

Tax Base

(1)

Tax Rates

(1)

Incidence of Taxation

(1)

Major Types of Taxes

(13)

Property Taxes

(1)

Tax in the News: College Expansion May Cause Property Tax Erosion

(2)

Transaction Taxes

(1)

Ethical Considerations: Making Good Use of Out-of-State Relatives

(1)

Death Taxes

(1)

Gift Taxes

(2)

Income Taxes

(1)

Tax in the News: Using the Income Tax Return As a ``Use Tax'' Reminder

(1)

Employment Taxes

(1)

Other U.S. Taxes

(1)

Proposed U.S. Taxes

(2)

Tax Administration

(5)

Internal Revenue Service

(1)

The Audit Process

(2)

Tax in the News: The IRS Gets Tough with Taxpayers Who Refuse to Pay

(1)

Statute of Limitations

(1)

Interest and Penalties

(1)

Tax Practice

(1)

Ethical Considerations: Do You Sign or Not?

(1)

Understanding the Federal Tax Law

(10)

Revenue Needs

(1)

Global Tax Issues: Outsourcing of Tax Return Preparation

(1)

Economic Considerations

(2)

Social Considerations

(1)

Equity Considerations

(3)

Political Considerations

(1)

Influence of the Internal Revenue Service

(1)

Ethical Considerations: Deducting Uncollected Charges for Services Rendered

(1)

Influence of the Courts

(1)

Summary

(1)

Problem Materials

Working with the Tax Law

(1)

Tax Sources

(19)

Statutory Sources of the Tax Law

(1)

Tax in the News: Tax Freedom Day?

(3)

Tax in the News: Those Disappearing Dependents

(1)

Global Tax Issues: Tax Treaties

(1)

Ethical Considerations: The President and the IRS

(1)

Administrative Sources of the Tax Law

(4)

Judicial Sources of the Tax Law

(2)

Tax in the News: Changing the Face of Russia

(7)

Working with the Tax Law---Tax Research

(7)

Identifying the Problem

(1)

Refining the Problem

(1)

Locating the Appropriate Tax Law Sources

(2)

Assessing the Validity of the Tax Law Sources

(2)

Arriving at the Solution or at Alternative Solutions

(1)

Communicating Tax Research

(1)

Working with the Tax Law---Tax Planning

(10)

Nontax Considerations

(1)

Tax Evasion and Tax Avoidance

(1)

Ethical Considerations: Tax Avoidance: Good or Bad?

(1)

Follow-up Procedures

(1)

Tax in the News: The Disappearing Taxpayers

(1)

Tax Planning---A Practical Application

(1)

Electronic Tax Research

(2)

Global Tax Issues: Data Warehousing Reduces Global Taxes

(3)

Problem Materials

Tax Determination; Personal and Dependency Exemptions; An Overview of Property Transactions

(1)

Tax Formula

(7)

Components of the Tax Formula

(2)

Global Tax Issues: Citizenship Is Not Tax-Free

(3)

Application of the Tax Formula

(1)

Individuals Not Eligible for the Standard Deduction

(1)

Special Limitations for Individuals Who Can Be Claimed as Dependents

(1)

Personal and Dependency Exemptions

(9)

Personal Exemptions

(1)

Dependency Exemptions---Prior to 2005

(1)

Ethical Considerations: Discovering Lost Dependency Exemptions

(2)

Ethical Considerations: A Change of Residence Can Be Rewarding

(1)

Dependency Exemptions---After 2004

(2)

Phaseout of Exemptions

(1)

Tax in the News: How to Subtly Pluck the Chicken

(1)

Child Tax Credit

(1)

Tax Determination

(5)

Tax Table Method

(1)

Tax Rate Schedule Method

(1)

Computation of Net Taxes Payable or Refund Due

(1)

Tax in the News: Tax Rate Trauma

(1)

Unearned Income of Children Under Age 14 Taxed at Parents' Rate

(2)

Filing Considerations

(7)

Filing Requirements

(3)

Tax in the News: Special Rules for Certain Military Personnel

(1)

Filing Status

(1)

Tax in the News: ``Charge It''---Convenient But Not Cheap!

(1)

Global Tax Issues: Filing a Joint Return

(2)

Ethical Considerations: The 'Hidden Benefits of Taking Care of a Relative

(1)

Gains and Losses from Property Transactions---In General

(1)

Gains and Losses from Property Transactions---Capital Gains and Losses

(2)

Definition of a Capital Asset

(1)

Taxation of Net Capital Gain

(1)

Determination of Net Capital Gain

(1)

Treatment of Net Capital Loss

(1)

Tax Planning Considerations

(3)

Taking Advantage of Tax Rate Differentials

(1)

Income of Minor Children

(1)

Dependency Exemptions

(2)

Ethical Considerations: Nondependents Can Provide Tax Benefits

(1)

Problem Materials

Gross Income: Concepts and Inclusions

(1)

Global Tax Issues: From ``All Sources'' Is a Broad Definition

(1)

Gross Income---What Is It?

(3)

Definition

(1)

Economic and Accounting Concepts

(2)

Tax in the News: Your Silent Gambling Partner: If You Win!

(1)

Comparison of the Accounting and Tax Concepts of Income

(1)

Form of Receipt

(1)

Recovery of Capital Doctrine

(1)

Year of Inclusion

(8)

Taxable Year

(1)

Accounting Methods

(2)

Exceptions Applicable to Cash Basis Taxpayers

(1)

Ethical Considerations: Choosing When to File Insurance Claims

(2)

Global Tax Issues: Tax Credit Neutralizes Foreign Income Taxes

(1)

Exceptions Applicable to Accrual Basis Taxpayers

(2)

Income Sources

(6)

Personal Services

(1)

Income from Property

(3)

Ethical Considerations: Enhancing Lottery Winnings

(1)

Income Received by an Agent

(1)

Income from Partnerships, S Corporations, Trusts, and Estates

(1)

Income in Community Property States

(2)

Items Specifically Included in Gross Income

(15)

Alimony and Separate Maintenance Payments

(3)

Imputed Interest on Below-Market Loans

(2)

Ethical Considerations: A Concealed Loan

(1)

Tax in the News: Loans to Executives Prohibited

(2)

Income from Annuities

(3)

Prizes and Awards

(1)

Group Term Life Insurance

(1)

Unemployment Compensation

(1)

Social Security Benefits

(1)

Tax in the News: A Taxpayer Learns about the ``Quirky'' Social Security Benefits Taxation Formula

(1)

Tax Planning Considerations

(4)

Nontaxable Economic Benefits

(1)

Tax Deferral

(1)

Shifting Income to Relatives

(1)

Accounting for Community Property

(1)

Alimony

(1)

Problem Materials

Gross Income: Exclusions

(1)

Items Specifically Excluded from Gross income

(2)

Statutory Authority

(1)

Gifts and Inheritances

(2)

General

(1)

Tax in the News: Begging as a Tax-Disfavored Occupation

(1)

Gifts to Employees

(1)

Employee Death Benefits

(1)

Tax in the News: Frequent-Flier Miles Will Not Be Taxed

(1)

Life Insurance Proceeds

(3)

General Rule

(1)

Accelerated Death Benefits

(1)

Ethical Considerations: Should the Terminally Ill Pay Social Security Taxes?

(1)

Transfer for Valuable Consideration

(1)

Scholarships

(2)

General Information

(1)

Timing Issues

(1)

Disguised Compensation

(1)

Qualified Tuition Reduction Plans

(1)

Compensation for Injuries and Sickness

(2)

Damages

(1)

Workers' Compensation

(1)

Accident and Health Insurance Benefits

(1)

Tax in the News: Abandoning Parent Gets an ``Undeserved'' Benefit Tax-Free

(1)

Employer-Sponsored Accident and Health Plans

(3)

Tax in the News: Employees Pay Tax on Disability Premiums to Attain Nontaxable Disability Pay

(1)

Global Tax Issues: When Jobs Leave the Country, So Do the Health Insurance Benefits

(1)

Tax in the News: The Staggering Cost of Employee Health Insurance

(1)

Medical Reimbursement Plans

(1)

Long-Term Care Insurance Benefits

(1)

Meals and Lodging

(3)

Furnished for the Convenience of the Employer

(2)

Other Housing Exclusions

(1)

Other Employee Fringe Benefits

(7)

Specific Benefits

(1)

Cafeteria Plans

(1)

Flexible Spending Plans

(1)

General Classes of Excluded Benefits

(6)

Taxable Fringe Benefits

(1)

Foreign Earned Income

(2)

Ethical Considerations: Who Should Benefit from the Foreign Earned Income Exclusion?

(1)

Global Tax Issues: U.S. Taxpayers Abroad Are Gone but Not Forgotten

(1)

Interest on Certain State and Local Government Obligations

(1)

Dividends

(1)

General Information

(1)

Stock Dividends

(1)

Educational Savings Bonds

(1)

Qualified Tuition Programs

(1)

Tax Benefit Rule

(1)

Ethical Considerations: Unintentional Generosity of the Tax Benefit Rule

(1)

Income from Discharge of Indebtedness

(2)

Tax Planning Considerations

(2)

Life Insurance

(1)

Employee Benefits

(1)

Investment Income

(1)

Problem Materials

Deductions and Losses: In General

(1)

Classification of Deductible Expenses

(7)

Deductions for Adjusted Gross Income

(1)

Itemized Deductions

(1)

Trade or Business Expenses and Production of Income Expenses

(1)

Tax in the News: Two Sides of an Issue: To Kick or to Receive?

(1)

Business and Nonbusiness Losses

(1)

Reporting Procedures

(1)

Deductions and Losses---Timing of Expense Recognition

(2)

Importance of Taxpayer's Method of Accounting

(1)

Cash Method Requirements

(1)

Accrual Method Requirements

(1)

Disallowance Possibilities

(19)

Public Policy Limitation

(1)

Ethical Considerations: Knowing the Right People

(2)

Political Contributions and Lobbying Activities

(1)

Excessive Executive Compensation

(1)

Tax in the News: Executive Pay Abuse

(1)

Investigation of a Business

(1)

Hobby Losses

(1)

Ethical Considerations: When Is a Dairy Farm a Trade or Business?

(2)

Rental of Vacation Homes

(1)

Tax in the News: Can an Extreme Makeover Produce Extreme Taxes?

(1)

Tax in the News: Vacation Homes for the Rich

(4)

Expenditures Incurred for Taxpayer's Benefit or Taxpayer's Obligation

(1)

Disallowance of Personal Expenditures

(1)

Disallowance of Deductions for Capital Expenditures

(1)

Transactions between Related Parties

(2)

Substantiation Requirements

(1)

Expenses and Interest Relating to Tax-Exempt Income

(2)

Tax Planning Considerations

(3)

Time Value of Tax Deductions

(1)

Unreasonable Compensation

(1)

Excessive Executive Compensation

(2)

Shifting Deductions

(1)

Hobby Losses

(1)

Capital Expenditures

(1)

Problem Materials

Deductions and Losses: Certain Business Expenses and Losses

(1)

Tax in the News: A Deduction for Bad Debts

(1)

Bad Debts

(3)

Specific Charge-off Method

(2)

Global Tax Issues: Writing Off Bad Debts in Australia

(1)

Business versus Nonbusiness Bad Debts

(1)

Global Tax Issues: Macau---The New Las Vegas?

(1)

Loans between Related Parties

(1)

Worthless Securities

(2)

Small Business Stock

(1)

Losses of Individuals

(8)

Ethical Considerations: What Is a Casualty Loss?

(1)

Events That Are Not Casualties

(1)

Theft Losses

(1)

When to Deduct Casualty Losses

(1)

Measuring the Amount of Loss

(3)

Statutory Framework for Deducting Losses of Individuals

(1)

Personal Casualty Gains and Losses

(2)

Ethical Considerations: The Amount of a Casualty Loss

(1)

Research and Experimental Expenditures

(2)

Expense Method

(1)

Deferral and Amortization Method

(1)

Manufacturers' Deduction

(1)

Operational Rules

(1)

Observations and Operational Problems

(1)

Net Operating Losses

(2)

Carryback and Carryover Periods

(1)

Tax in the News: Increased Net Operating Loss Cap

(1)

Tax Planning Considerations

(2)

Tax Consequences of the Groetzinger Case

(1)

Documentation of Related-Taxpayer Loans, Casualty Losses, and Theft Losses

(1)

Tax in the News: New York at a Disadvantage

(1)

Small Business Stock

(1)

Casualty Losses

(1)

Net Operating Losses

(1)

Problem Materials

Depreciation, Cost Recovery, Amortization, and Depletion

(1)

Overview

(2)

General

(1)

Concepts Relating to Depreciation

(1)

Modified Accelerated Cost Recovery System (MACRS)

(15)

Global Tax Issues: Changing the Life of a Truck

(1)

Personalty: Recovery Periods and Methods

(3)

Tax in the News: Capital Investment Write-Offs Reduce Corporate Taxes

(1)

Realty: Recovery Periods and Methods

(1)

Straight-line Election

(1)

Election to Expense Assets

(1)

Tax in the News: Changing Business Deductions

(1)

Business and Personal Use of Automobiles and Other Listed Property

(1)

Tax in the News: Spreading the Impact of the § 179 Expense Deduction

(4)

Ethical Considerations: Substantiating Business Usage of an Automobile

(1)

Alternative Depreciation System (ADS)

(1)

Accelerated Cost Recovery System (ACRS)

(1)

Amortization

(1)

Ethical Considerations: Computing § 197 Amortization

(1)

Depletion

(4)

Intangible Drilling and Development Costs (IDC)

(1)

Depletion Methods

(3)

Tax Planning Considerations

(2)

Cost Recovery

(1)

Amortization

(1)

Depletion

(1)

Tables

(6)

Problem Materials

Deductions: Employee and Self-Employed-Related Expenses

(1)

Employee versus Self-Employed

(1)

Tax in the News: Caddies or Golf Carts?

(1)

Employee Expenses---In General

(1)

Transportation Expenses

(2)

Qualified Expenditures

(1)

Computation of Automobile Expenses

(1)

Travel Expenses

(4)

Definition of Travel Expenses

(1)

Away-from-Home Requirement

(2)

Restrictions on Travel Expenses

(1)

Combined Business and Pleasure Travel

(1)

Global Tax Issues: Conventions in Faraway Lands

(1)

Moving Expenses

(2)

Distance Test

(1)

Time Test

(1)

Treatment of Moving Expenses

(1)

Global Tax Issues: Expatriates and the Moving Expense Deduction

(1)

Education Expenses

(4)

General Requirements

(1)

Requirements Imposed by Law or by the Employer for Retention of Employment

(1)

Maintaining or Improving Existing Skills

(1)

Tax in the News: Is an MBA Degree Deductible?

(1)

Classification of Specific Items

(1)

A Limited Deduction Approach

(1)

Other Provisions Dealing with Education

(1)

Entertainment Expenses

(3)

Cutback Adjustment

(1)

Ethical Considerations: Your Turn or Mine?

(1)

Classification of Expenses

(1)

Restrictions upon Deductibility

(1)

Other Employee Expenses

(4)

Office in the Home

(2)

Tax in the News: One Side Effect of 9/11

(1)

Miscellaneous Employee Expenses

(2)

Contributions to Retirement Accounts

(1)

Employee IRAs

(1)

Self-Employed Keogh (H.R. 10) Plans

(1)

Classification of Employee Expenses

(3)

Accountable Plans

(1)

Nonaccountable Plans

(1)

Reporting Procedures

(1)

Ethical Considerations: A Customized Reimbursement Agreement

(1)

Limitations on Itemized Deductions

(2)

Miscellaneous Itemized Deductions Subject to the 2 Percent Floor

(1)

Ethical Considerations: Will Separate Returns by Married Persons Save Taxes?

(1)

Miscellaneous Itemized Deductions Not Subject to the 2 Percent Floor

(1)

Tax in the News: Relief for Members of the Armed Forces Reserves

(1)

Tax Planning Considerations

(3)

Self-Employed Individuals

(1)

Ethical Considerations: Travel Expenses Can Be a Profit Center

(1)

Shifting Deductions between Employer and Employee

(1)

Transportation and Travel Expenses

(1)

Moving Expenses

(1)

Education Expenses

(1)

Entertainment Expenses

(1)

Unreimbursed Employee Business Expenses

(1)

Problem Materials

Deductions and Losses: Certain Itemized Deductions

(1)

General Classification of Expenses

(1)

Tax in the News: The President and Vice President Itemize

(1)

Medical Expenses

(8)

General Requirements

(1)

Medical Expenses Defined

(2)

Capital Expenditures for Medical Purposes

(1)

Medical Expenses Incurred for Spouse and Dependents

(1)

Transportation, Meal, and Lodging Expenses for Medical Treatment

(1)

Amounts Paid for Medical Insurance Premiums

(1)

Year of Deduction

(1)

Reimbursements

(1)

Health Savings Accounts

(2)

Taxes

(3)

Deductibility as a Tax

(1)

Property Taxes

(1)

Global Tax Issues: Deductibility of Foreign Taxes

(1)

State and Local Income Taxes and Sales Taxes

(1)

Interest

(5)

Allowed and Disallowed Items

(4)

Restrictions on Deductibility and Timing Considerations

(1)

Classification of Interest Expense

(1)

Charitable Contributions

(8)

Criteria for a Gift

(1)

Qualified Organizations

(1)

Global Tax Issues: Choose the Charity Wisely

(1)

Time of Deduction

(1)

Record-Keeping and Valuation Requirements

(1)

Limitations on Charitable Contribution Deduction

(1)

Tax in the News: Spring Cleaning and Charitable Contributions

(4)

Miscellaneous Itemized Deductions

(1)

Ethical Considerations: Job Hunting in Ski Country: A Deductible Expense?

(1)

Other Miscellaneous Deductions

(1)

Comprehensive Example of Schedule A

(1)

Overall Limitation on Certain Itemized Deductions

(4)

Tax in the News: The First Family and Itemized Deduction Phaseouts

(1)

Ethical Considerations: Between a Rock and a Hard Place

(1)

Tax Planning Considerations

(3)

Effective Utilization of Itemized Deductions

(1)

Utilization of Medical Deductions

(1)

Timing the Payment of Deductible Taxes

(1)

Protecting the Interest Deduction

(1)

Assuring the Charitable Contribution Deduction

(2)

Problem Materials

Passive Activity Losses

(1)

The Tax Shelter Problem

(1)

At-Risk Limits

(3)

Tax in the News: With Tax Shelters in the Spotlight, Taxpayers Should Be Cautious!

(2)

Ethical Considerations: Manipulating the At-Risk Limits

(1)

Passive Loss Limits

(19)

Classification and Impact of Passive Income and Losses

(3)

Taxpayers Subject to the Passive Loss Rules

(2)

Passive Activities Defined

(9)

Interaction of the At-Risk and Passive Activity Limits

(1)

Tax in the News: Newly Developed Tax Shelter Strategies Now Protected by Patents

(1)

Special Passive Activity Rules for Real Estate Activities

(3)

Ethical Considerations: How Active Is Active?

(1)

Dispositions of Passive Interests

(1)

Tax Planning Considerations

(2)

Utilizing Passive Losses

(2)

Problem Materials

Tax Credits

(1)

Tax Policy Considerations

(1)

Overview and Priority of Credits

(3)

Refundable versus Nonrefundable Credits

(1)

General Business Credit

(1)

Treatment of Unused General Business Credits

(1)

Specific Business-Related Tax Credit Provisions

(8)

Tax Credit for Rehabilitation Expenditures

(1)

Work Opportunity Tax Credit

(1)

Welfare-to-Work Credit

(1)

Research Activities Credit

(2)

Low-Income Housing Credit

(1)

Ethical Considerations: A Win-Win Situation or an Incalculable Loss?

(1)

Disabled Access Credit

(1)

Credit for Small Employer Pension Plan Startup Costs

(1)

Credit for Employer-Provided Child Care

(1)

Other Tax Credits

(13)

Earned Income Credit

(1)

Ethical Considerations: Snagging the Earned Income Credit with the Aid of a Transient Child

(1)

Tax Credit for Elderly or Disabled Taxpayers

(1)

Tax in the News: The Earned Income Credit: A Boost to the Working Poor and Merchants, Too!

(1)

Foreign Tax Credit

(1)

Global Tax Issues: Sourcing Income in Cyberspace---Getting It Right When Calculating the Foreign Tax Credit

(1)

Adoption Expenses Credit

(1)

Child Tax Credit

(1)

Credit for Child and Dependent Care Expenses

(2)

Education Tax Credits

(2)

Credit for Certain Retirement Plan Contributions

(3)

Tax Planning Considerations

(2)

Foreign Tax Credit

(1)

Credit for Child and Dependent Care Expenses

(1)

Problem Materials

Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges

(1)

Determination of Gain or Loss

(6)

Realized Gain or Loss

(1)

Tax in the News: Reevaluating Your Investment Strategy

(2)

Ethical Considerations: Reporting a Distribution: Dividend or Return of Capital?

(1)

Recognized Gain or Loss

(1)

Nonrecognition of Gain or Loss

(1)

Recovery of Capital Doctrine

(1)

Basis Considerations

(15)

Determination of Cost Basis

(3)

Tax in the News: Frequent-Flier Miles and Basis

(1)

Gift Basis

(3)

Property Acquired from a Decedent

(1)

Tax in the News: Effect of 2001 Tax Legislation on the Basis of Inherited Property: Bad News/Good News!

(1)

Disallowed Losses

(1)

Ethical Considerations: Transactions between Spouses

(2)

Conversion of Property from Personal Use to Business or Income-Producing Use

(1)

Additional Complexities in Determining Realized Gain or Loss

(1)

Summary of Basis Adjustments

(2)

General Concept of a Nontaxable Exchange

(1)

Like-Kind Exchanges---§ 1031

(7)

Like-Kind Property

(1)

Ethical Considerations: An Assumption for a Related-Party Exchange

(1)

Exchange Requirement

(1)

Boot

(1)

Basis and Holding Period of Property Received

(3)

Involuntary Conversions---§ 1033

(5)

Involuntary Conversion Defined

(1)

Computing The Amount Realized

(1)

Tax in the News: A Court Limits the Government's Taking of Property

(1)

Replacement Property

(1)

Time Limitation on Replacement

(1)

Nonrecognition of Gain

(2)

Involuntary Conversion of a Personal Residence

(1)

Reporting Considerations

(1)

Sale of a Residence---§ 121

(7)

Requirements for Exclusion Treatment

(1)

Tax in the News: A Tax Break for Those Who Serve

(1)

Exceptions to the Two-Year Ownership Rule

(1)

Calculation of the Amount of the Exclusion

(2)

Tax in the News: The Gains Keep Growing

(1)

Principal Residence

(1)

Involuntary Conversion and Using §§ 121 and 1033

(1)

Other Nonrecognition Provisions

(2)

Exchange of Stock for Property---§ 1032

(1)

Certain Exchanges of Insurance Policies---§ 1035

(1)

Exchange of Stock for Stock of the Same Corporation---§ 1036

(1)

Certain Reacquisitions of Real Property---§ 1038

(1)

Transfers of Property between Spouses or Incident to Divorce---§ 1041

(1)

Rollovers Into Specialized Small Business Investment Companies---§ 1044

(1)

Rollover of Gain from Qualified Small Business Stock into Another Qualified Small Business Stock---§ 1045

(1)

Tax Planning Considerations

(6)

Tax Consequences of Alice's Proposed Transaction

(1)

Cost Identification and Documentation Considerations

(1)

Selection of Property for Making Gifts

(1)

Selection of Property for Making Bequests

(1)

Disallowed Losses

(1)

Like-Kind Exchanges

(1)

Involuntary Conversions

(1)

Sale of a Principal Residence

(1)

Ethical Considerations: A Realtor's Recommendation for the § 121 Exclusion

(1)

Tax in the News: Sale of a Residence and the Home Office Deduction

(1)

Problem Materials

Property Transactions: Capital Gains and Losses, § 1231, and Recapture Provisions

(1)

General Considerations

(1)

Rationale for Separate Reporting of Capital Gains and Losses

(1)

General Scheme of Taxation

(1)

Tax in the News: Switching Funds Creates a Loss

(1)

Capital Assets

(4)

Definition of a Capital Asset

(2)

Ethical Considerations: Capital Assets for a Song

(1)

Effect of Judicial Action

(1)

Statutory Expansions

(1)

Sale or Exchange

(7)

Tax in the News: All Is Not Lost---It's Just Less Valuable

(1)

Worthless Securities and § 1244 Stock

(1)

Special Rule---Retirement of Corporate Obligations

(1)

Options

(1)

Patents

(2)

Franchises, Trademarks, and Trade Names

(2)

Lease Cancellation Payments

(1)

Holding Period

(5)

Tax in the News: How Long Was the Holding Period for That Property?

(1)

Review of Special Holding Period Rules

(1)

Special Rules for Short Sales

(1)

Global Tax Issues: Trading ADRs on U.S. Stock Exchanges

(2)

Tax Treatment of Capital Gains and Losses of Noncorporate Taxpayers

(9)

Capital Gain and Loss Netting Process

(3)

Ethical Considerations: Is That Capital Gain Taxable?

(1)

Qualified Dividend Income

(1)

Alternative Tax on Net Capital Gain

(1)

Treatment of Capital Losses

(1)

Tax in the News: Not All Corporate Dividends Are ``Qualified Dividends''

(2)

Tax Treatment of Capital Gains and Losses of Corporate Tax Payers

(1)

Overview of § 1231 and the Recapture Provisions

(1)

Tax in the News: Capital Gain Confusion

(1)

Section 1231 Assets

(8)

Relationship to Capital Assets

(1)

Justification for Favorable Tax Treatment

(1)

Property Included

(1)

Tax in the News: An Environmental Fight over Timber Cutting

(1)

Property Excluded

(1)

Section 1231 Assets Disposed of by Casualty or Theft

(2)

Global Tax Issues: Canadian Slow Depreciation

(1)

General Procedure For § 1231 Computation

(4)

Section 1245 Recapture

(3)

Ethical Considerations: Preparing Tax Returns without Proper Information

(1)

Tax in the News: More Depreciation and More Depreciation Recapture

(1)

Section 1245 Property

(1)

Observations on § 1245

(1)

Section 1250 Recapture

(5)

Computing Recapture on Nonresidential Real Property

(1)

Computing Recapture on Residential Rental Housing

(1)

Section 1250 Recapture Situations

(1)

Unrecaptured § 1250 Gain (Real Estate 25% Gain)

(2)

Global Tax Issues: Exchange for Foreign Property Yields Recognized Recapture Gain

(1)

Considerations Common to §§ 1245 and 1250

(3)

Exceptions

(1)

Other Applications

(2)

Global Tax Issues: Depreciation Recapture in Other Countries

(1)

Special Recapture Provisions

(1)

Special Recapture for Corporations

(1)

Gain from Sale of Depreciable Property between Certain Related Parties

(1)

Intangible Drilling Costs

(1)

Reporting Procedures

(1)

Ethical Considerations: Flow-Through 25% Gain

(1)

Tax Planning Considerations

(5)

Importance of Capital Asset Status

(1)

Planning for Capital Asset Status

(1)

Global Tax Issues: Capital Gain Treatment in the United States and Other Countries

(1)

Effect of Capital Asset Status in Transactions Other Than Sales

(1)

Stock Sales

(1)

Maximizing Benefits

(1)

Year-End Planning

(1)

Timing of § 1231 Gain

(1)

Timing of Recapture

(1)

Postponing and Shifting Recapture

(1)

Avoiding Recapture

(1)

Problem Materials

Alternative Minimum Tax

(1)

Tax in the News: The AMT: From 155 to 33 Million

(1)

Individual Alternative Minimum Tax

(24)

AMT Formula for Alternative Minimum Taxable Income (AMTI)

(3)

AMT Formula: Other Components

(3)

Ethical Considerations: Minimizing the Tax Liability

(1)

AMT Adjustments

(12)

AMT Preferences

(1)

Ethical Considerations: Tax-Exempt Bonds and the AMT

(1)

Tax in the News: Distinguishing between Taxable and Exempt Bonds for AMT Purposes

(1)

Illustration of the AMT Computation

(3)

AMT Credit

(1)

Corporate Alternative Minimum Tax

(4)

Repeal of AMT for Small Corporations

(1)

AMT Adjustments

(2)

Tax Preferences

(1)

Exemption

(1)

Other Aspects of the AMT

(1)

Tax Planning Considerations

(2)

Responding to Bob and Carol

(1)

Avoiding Preferences and Adjustments

(1)

Controlling the Timing of Preferences and Adjustments

(1)

Taking Advantage of the AMT/Regular Tax Rate Differential

(1)

Problem Materials

Accounting Periods and Methods

(1)

Accounting Periods

(8)

In General

(1)

Tax in the News: Producers' Deduction Creates Tax Planning Opportunities

(1)

Specific Provisions for Partnerships, S Corporations, and Personal Service Corporations

(3)

Making the Election

(1)

Changes in the Accounting Period

(1)

Taxable Periods of Less Than One Year

(2)

Mitigation of the Annual Accounting Period Concept

(1)

Ethical Considerations: Net Operating Loss Carryback Limits Can Put the Government Ahead of Creditors

(1)

Accounting Methods

(8)

Permissible Methods

(1)

Cash Receipts and Disbursements Method---Cash Basis

(1)

Tax in the News: Who Wants to Be a Producer?

(1)

Accrual Method

(1)

Tax in the News: Applying the All Events Test to Cooperative Advertising

(2)

Hybrid Method

(1)

Change of Method

(2)

Special Accounting Methods

(11)

Installment Method

(5)

Disposition of Installment Obligations

(1)

Interest on Deferred Taxes

(1)

Electing Out of the Installment Method

(1)

Ethical Considerations: Electing Out of Electing Out of the Installment Sale Method

(1)

Long-Term Contracts

(4)

Tax Planning Considerations

(2)

Taxable Year

(1)

Cash Method of Accounting

(1)

Installment Method

(1)

Completed Contract Method

(1)

Problem Materials

Corporations: Introduction, Operating Rules, and Related Corporations

(1)

Tax Treatment of Various Business Forms

(7)

Sole Proprietorships

(1)

Tax in the News: Corporate Tax Breaks

(1)

Partnerships

(1)

Regular Corporations

(2)

Tax in the News: Impact of the Dividend Tax Cut

(1)

Limited Liability Companies

(1)

Global Tax Issues: Entity Choice: S Corporation versus C Corporation

(1)

Entity Classification

(1)

An Introduction to the Income Taxation of Corporations

(11)

An Overview of Corporate versus Individual Income Tax Treatment

(1)

Specific Provisions Compared

(1)

Accounting Periods and Methods

(1)

Capital Gains and Losses

(1)

Passive Losses

(1)

Charitable Contributions

(1)

Ethical Considerations: Is It Better Not to Know?

(1)

Manufacturers' Deduction

(1)

Net Operating Losses

(1)

Deductions Available Only to Corporations

(3)

Determining the Corporate Income Tax Liability

(7)

Corporate Income Tax Rates

(1)

Alternative Minimum Tax

(1)

Tax Liability of Related Corporations

(1)

Controlled Groups

(2)

Ethical Considerations: A Bookkeeper's Mistake

(1)

Consolidated Returns

(3)

Procedural Matters

(3)

Filing Requirements for Corporations

(1)

Estimated Tax Payments

(1)

Reconciliation of Taxable Income and Financial Net Income

(2)

Tax Planning Considerations

(5)

Corporate versus Noncorporate Forms of Business Organization

(1)

Operating the Corporation

(1)

Related Corporations

(3)

Problem Materials

Corporations: Organization and Capital Structure

(1)

Organization of and Transfers to Controlled Corporations

(12)

In General

(1)

Global Tax Issues: Choice of Organizational Form When Operating Overseas

(1)

Property Defined

(1)

Stock Transferred

(1)

Control of the Corporation

(1)

Ethical Considerations: Proper Timing of a Gift of Shares

(2)

Assumption of Liabilities---§ 357

(3)

Basis Determination and Related Issues

(2)

Global Tax Issues: Does § 351 Cover the Incorporation of a Foreign Business?

(1)

Capital Structure of a Corporation

(4)

Capital Contributions

(1)

Debt in the Capital Structure

(2)

Tax in the News: Conflict Arises between Corporations and Their Shareholders

(1)

Investor Losses

(3)

Stock and Security Losses

(1)

Business versus Nonbusiness Bad Debts

(2)

Section 1244 Stock

(1)

Gain from Qualified Small Business Stock

(1)

Tax Planning Considerations

(4)

Working with § 351

(2)

Selecting Assets To Transfer

(1)

Ethical Considerations: The Control of a New Corporation: Insiders versus Outsiders

(1)

Debt in the Capital Structure

(1)

Investor Losses

(1)

Problem Materials

Corporations: Distributions Not in Complete Liquidation

(1)

Corporate Distributions---In General

(1)

Earnings and Profits (E & P)

(7)

Computation of E & P

(3)

Summary of E & P Adjustments

(1)

Current versus Accumulated E & P

(1)

Allocating E & P to Distributions

(2)

Ethical Considerations: Shifting E & P

(1)

Dividends

(10)

Rationale for Reduced Tax Rates on Dividends

(1)

Qualified Dividends

(1)

Property Dividends

(1)

Tax in the News: Companies Pay Record Dividends in 2004

(2)

Constructive Dividends

(2)

Global Tax Issues: Deemed Dividends from Controlled Foreign Corporations

(1)

Stock Dividends and Stock Rights

(1)

Tax in the News: The REIT (Real Estate Investment Trust) Kind of Dividends

(1)

Stock Redemptions

(8)

Tax in the News: Corporate Cash Reserves Affect the Frequency of Stock Redemptions

(1)

Overview

(1)

Global Tax Issues: Foreign Shareholders Prefer Sale or Exchange Treatment in Stock Redemptions

(1)

Historical Background

(1)

Stock Attribution Rules

(1)

Tax in the News: A Novel Interpretation of Stock Attribution Rules

(1)

Not Essentially Equivalent Redemptions

(1)

Disproportionate Redemptions

(1)

Complete Termination Redemptions

(1)

Ethical Considerations: A Friendly Dilemma

(1)

Redemptions to Pay Death Taxes

(1)

Effect on the Corporation Redeeming Its Stock

(2)

Recognition of Gain or Loss

(1)

Effect on Earnings and Profits

(1)

Redemption Expenditures

(1)

Other Corporate Distributions

(1)

Tax Planning Considerations

(5)

Corporate Distributions

(1)

Ethical Considerations: Playing Games with the Statute of Limitations

(1)

Planning for Qualified Dividends

(1)

'Constructive Dividends

(2)

Stock Redemptions

(1)

Problem Materials

Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations

(1)

Liquidations---In General

(2)

The Liquidation Process

(1)

Liquidating and Nonliquidating Distributions Compared

(1)

Liquidations---Effect on the Distributing Corporation

(4)

The General Rule

(1)

Antistuffing Rules

(4)

Liquidations---Effect on the Shareholder

(1)

The General Rule

(1)

Ethical Considerations: Shareholder Liability for Tax Deficiency of Liquidated Corporation

(1)

Special Rule for Certain Installment Obligations

(1)

Liquidations---Parent-Subsidiary Situations

(5)

Tax in the News: Include Intangible Assets When Determining a Subsidiary's Solvency

(1)

Minority Shareholder Interests

(1)

Indebtedness of the Subsidiary to the Parent

(1)

Basis of Property Received by the Parent Corporation---The General Rule

(1)

Global Tax Issues: Exception to § 332 for Liquidations of U.S. Subsidiaries of Foreign Corporations

(1)

Basis of Property Received by the Parent Corporation---§ 338 Election

(2)

Corporate Reorganizations

(6)

In General

(1)

Tax in the News: When Mergers and Acquisitions Rebound, So Does Hiring

(1)

Summary of the Different Types of Reorganizations

(1)

Summary of the Tax Consequences in a Tax-free Reorganization

(3)

Tax Planning Considerations

(2)

Effect of a Liquidating Distribution on the Corporation

(1)

Effect of a Liquidating Distribution on the Shareholder

(1)

Parent-Subsidiary Liquidations

(1)

Asset Purchase versus Stock Purchase

(1)

The Role of the Letter Ruling

(1)

Problem Materials

Partnerships

(1)

Overview of Partnership Taxation

(8)

Forms of Doing Business---Federal Tax Consequences

(1)

Tax in the News: Partnerships in the Movies

(1)

What Is a Partnership?

(1)

Tax in the News: The Growing Number of LLCs

(1)

Elections Related to Partnership Status

(1)

Partnership Taxation

(2)

Partnership Reporting

(1)

Partner's Ownership Interest in a Partnership

(2)

Conceptual Basis for Partnership Taxation

(1)

Anti-Abuse Provisions

(1)

Formation of a Partnership: Tax Effects

(10)

Gain or Loss on Contributions to the Partnership

(1)

Exceptions to § 721

(1)

Tax Issues Relative to Contributed Property

(2)

Inside and Outside Bases

(1)

Tax Accounting Elections

(1)

Initial Costs of a Partnership

(2)

Method of Accounting

(1)

Taxable Year of the Partnership

(2)

Operations of the Partnership

(16)

Measuring and Reporting Income

(3)

Ethical Considerations: A Preparer's Responsibility for Partners' Tax Returns

(1)

Partnership Allocations

(2)

Basis of a Partnership Interest

(7)

Loss Limitations

(4)

Transactions between Partners and Partnerships

(3)

Guaranteed Payments

(1)

Other Transactions between Partners and Partnerships

(2)

Partners as Employees

(1)

Distributions from the Partnership

(8)

Proportionate Nonliquidating Distributions

(4)

Proportionate Liquidating Distributions

(3)

Sale of a Partnership Interest

(3)

General Rules

(1)

Effect of Hot Assets

(1)

Limited Liability Entities

(1)

Limited Liability Companies

(1)

Limited Liability Partnerships

(1)

Tax Planning Considerations

(3)

Choosing Partnership Taxation

(1)

Formation and Operation of a Partnership

(1)

Transactions between Partners and Partnerships

(1)

Global Tax Issues: Partnerships Around the World---and Beyond

(1)

Drafting the Partnership Agreement

(1)

Problem Materials

S Corporations

(1)

Introduction

(3)

An Overview of S Corporations

(1)

When to Elect S Corporation Status

(1)

Qualifying for S Corporation Status

(6)

Definition of a Small Business Corporation

(1)

Tax in the News: Flexibility with QSSSs

(2)

Ethical Considerations: Extortion Payments

(1)

Making the Election

(1)

Shareholder Consent

(1)

Loss of the Election

(1)

Operational Rules

(20)

Computation of Taxable Income

(2)

Allocation of Income and Loss

(1)

Tax Treatment of Distributions to Shareholders

(4)

Tax Treatment of Property Distributions by the Corporation

(1)

Shareholder's Basis

(3)

Treatment of Losses

(3)

Tax on Pre-election Built-in Gain

(1)

Ethical Considerations: A Helpful Appraisal

(3)

Passive Investment Income Penalty Tax

(1)

Other Operational Rules

(1)

Tax Planning Considerations

(11)

When the Election Is Advisable

(1)

Making a Proper Election

(1)

Preserving the Election

(1)

Planning for the Operation of the Corporation

(1)

Tax in the News: An Abusive Tax Shelter?

(5)

Overall Comparison: Forms of Doing Business

(4)

Problem Materials

Exempt Entities

(1)

General Considerations

(2)

Tax in the News: Tax-Exempts: Here Comes the IRS and Maybe Congress

(1)

Types of Exempt Organizations

(1)

Requirements for Exempt Status

(3)

Serving the Common Good

(1)

Not-for-Profit Entity

(1)

Net Earnings and Members of the Organization

(2)

Tax in the News: Class-Action Lawsuits Challenge Differential Fees

(1)

Ethical Considerations: For the Good of the People

(1)

Political Influence

(1)

Tax Consequences of Exempt Status: General

(4)

Prohibited Transactions

(3)

Feeder Organizations

(1)

Private Foundations

(5)

Tax Consequences of Private Foundation Status

(1)

Ethical Considerations: A Charity Documents the Value of Charitable Contributions

(2)

Tax in the News: A Major Contribution to the Salvation Army

(1)

Taxes Imposed on Private Foundations

(3)

Unrelated Business Income Tax

(9)

Unrelated Trade or Business

(3)

Unrelated Business Income

(1)

Unrelated Business Taxable Income

(2)

Unrelated Debt-Financed Income

(3)

Reporting Requirements

(2)

Obtaining Exempt Organization Status

(1)

Annual Filing Requirements

(1)

Disclosure Requirements

(1)

Tax Planning Considerations

(3)

General

(1)

Maintaining Exempt Status

(1)

Tax in the News: Charities and Vehicle Donation Programs

(1)

Private Foundation Status

(1)

Unrelated Business Income Tax

(1)

Problem Materials

Multistate Corporate Taxation

(1)

Overview of Corporate State Income Taxation

(6)

Ethical Considerations: Encouraging Economic Development through Tax Concessions

(1)

Computing State Income Tax

(1)

Tax in the News: Britney, You Need to Pay Your Tax

(1)

Operational Implications

(1)

State Modifications

(3)

Jurisdiction to Impose Tax: Nexus and Public Law 86--272

(1)

Allocation and Apportionment of Income

(12)

The Apportionment Procedure

(1)

Business and Nonbusiness Income

(2)

Apportionment Factors: Elements and Planning

(3)

The Sales Factor

(1)

The Payroll Factor

(2)

The Property Factor

(2)

The Unitary Theory

(4)

What Is a Unitary Business?

(1)

Tax Effects of the Unitary Theory

(3)

Global Tax Issues: Water's Edge Is Not a Day at the Beach

(1)

Taxation of S Corporations

(1)

Eligibility

(1)

Taxation of Partnerships and LLCs

(1)

Other State and Local Taxes

(2)

State and Local Sales and Use Taxes

(1)

Ethical Considerations: Taxing Clicks and Bricks

(1)

Tax in the News: Collecting Those Sales/Use Tax Revenues

(1)

Local Property Taxes

(1)

Other Taxes

(1)

Tax Planning Considerations

(5)

Selecting the Optimal State in Which to Operate

(2)

Restructuring Corporate Entities

(1)

Subjecting the Corporation's Income to Apportionment

(1)

Ethical Considerations: Can You Be a Nowhere Adviser?

(1)

Planning with Apportionment Factors

(1)

Sales/Use Taxes on Capital Changes

(1)

Problem Materials

Taxation of International Transactions

(1)

Overview of International Taxation

(1)

Tax Treaties

(2)

Global Tax Issues: Other Countries' Taxes Are Strange, Too

(1)

Global Tax Issues: Why the Treaty Process Stalls

(1)

Sourcing of Income and Deductions

(6)

Income Sourced Inside the United States

(3)

Income Sourced Outside the United States

(1)

Tax in the News: Sourcing Income in Cyberspace

(1)

Allocation and Apportionment of Deductions

(1)

Section 482 Considerations

(1)

Tax in the News: APAs Reduce Uncertainty in Transfer Pricing Disputes

(1)

Foreign Currency Transactions

(3)

Tax Issues

(1)

Functional Currency

(1)

Branch Operations

(1)

Distribution from Foreign Corporations

(1)

Foreign Taxes

(1)

Section 988 Transactions

(1)

U.S. Persons with Foreign Income

(16)

Export Property Tax Incentives

(1)

Cross-Border Asset Transfers

(2)

Global Tax Issues: Boom in Cross-Border Mergers

(1)

Tax Havens

(1)

Foreign Corporations Controlled by U.S. Persons

(1)

Ethical Considerations: A Boost to Domestic Investment or a Tax Amnesty for Outsourcers?

(1)

Tax in the News: A Move to the Beach for U.S. Corporations Seeking a Vacation from U.S. Tax Rules

(1)

Tax in the News: Who Are These CFCs?

(3)

The Foreign Tax Credit

(6)

U.S. Taxation of Nonresident Aliens and Foreign Corporations

(7)

Nonresident Alien Individuals

(1)

Ethical Considerations: Should There Be Some ``Heart'' in Tax Law?

(2)

Foreign Corporations

(2)

The Foreign Investment in Real Property Tax Act

(2)

Expatriation to Avoid U.S. Taxation

(1)

Tax Planning Considerations

(3)

The Foreign Tax Credit Limitation and Sourcing Provisions

(1)

The Foreign Corporation as a Tax Shelter

(1)

Planning under Subpart F

(1)

Using the Check-the-Box Regulations

(1)

Transferring Intangible Assets Offshore

(1)

Problem Materials

Tax Administration and Practice

(1)

Tax Administration

(20)

Tax in the News: Should the IRS Be Larger?

(1)

Tax in the News: IRS Audit Initiatives

(1)

IRS Procedure---Letter Rulings

(1)

IRS Procedure---Other Issuances

(1)

Administrative Powers of the IRS

(1)

The Audit Process

(2)

Tax in the News: Collecting Those Taxes Due

(1)

The Taxpayer Appeal Process

(1)

Offers in Compromise and Closing Agreements

(1)

Interest

(1)

Taxpayer Penalties

(3)

Global Tax Issues: Advance Pricing Agreements Reduce International Uncertainty

(1)

Ethical Considerations: Good Faith Valuations

(3)

Tax in the News: Where Are All the Tax Criminals?

(1)

Statutes of Limitations

(2)

Tax Practice

(7)

The Tax Practitioner

(4)

Ethical Considerations: Where Does My Cost Saving Go?

(1)

AICPA Statements on Standards for Tax Services

(3)

Tax Planning Considerations

(4)

Strategies in Seeking an Administrative Ruling

(1)

Considerations in Handling an IRS Audit

(1)

Ethical Considerations: Should the Client Attend an Audit?

(2)

Penalties

(1)

Problem Materials

The Federal Gift and Estate Taxes

(1)

Transfer Taxes---In General

(8)

Nature of the Taxes

(1)

Tax in the News: An Erratic Approach to Transfer Taxes

(1)

Global Tax Issues: Expatriation to Avoid U.S. Taxes

(4)

Tax in the News: What Are the Chances?

(1)

Valuation for Estate and Gift Tax Purposes

(1)

Ethical Considerations: An Executor's Prerogative

(1)

Key Property Concepts

(1)

The Federal Gift Tax

(9)

General Considerations

(2)

Ethical Considerations: What Constitutes Support?

(1)

Transfers Subject to the Gift Tax

(2)

Annual Exclusion

(1)

Deductions

(1)

Tax in the News: Section 529 Plans Need Reevaluation

(1)

Computing the Federal Gift Tax

(2)

Procedural Matters

(1)

The Federal Estate Tax

(18)

Gross Estate

(9)

Taxable Estate

(1)

Ethical Considerations: The Advantage of Being Paid Up!

(2)

Ethical Considerations: It's the Thought That Counts

(2)

Computing the Federal Estate Tax

(1)

Estate Tax Credits

(1)

Tax in the News: Be Careful Where You Die!

(1)

Global Tax Issues: Treaty Relief Is Not Abundant!

(1)

Procedural Matters

(1)

The Generation-Skipping Transfer Tax

(1)

The Problem

(1)

The Solution

(1)

Tax Planning Considerations

(4)

The Federal Gift Tax

(1)

The Federal Estate Tax

(3)

Problem Materials

Income Taxation of Trusts and Estates

(1)

An Overview of Subchapter J

(4)

What Is a Trust?

(1)

Other Definitions

(1)

What Is an Estate?

(1)

Tax in the News: Should Your Trust Be All in the Family?

(1)

Nature of Trust and Estate Taxation

(3)

Filing Requirements

(1)

Tax Accounting Periods, Methods, and Payments

(1)

Tax Rates and Personal Exemption

(1)

Alternative Minimum Tax

(1)

Tax in the News: Everyone Gets Wet When You Soak the Rich

(1)

Taxable Income of Trusts and Estates

(12)

Entity Accounting Income

(3)

Tax in the News: Pick the Home State for Your Trust Carefully

(1)

Gross Income

(2)

Tax in the News: Coordinate Your Deductions

(1)

Ordinary Deductions

(1)

Deductions for Losses

(1)

Charitable Contributions

(1)

Deduction for Distributions to Beneficiaries

(4)

Tax Credits

(1)

Taxation of Beneficiaries

(5)

Distributions by Simple Trusts

(1)

Distributions by Estates and Complex Trusts

(1)

Character of Income

(2)

Losses in the Termination Year

(1)

Tax in the News: Don't Trust Your Dictionary

(1)

Tax Planning Considerations

(3)

A Trust or Estate as an Income-shifting Device

(1)

Income Tax Planning for Estates

(1)

Ethical Considerations: Should a Tax Adviser Also Be a Trustee?

(1)

Income Tax Planning with Trusts

(1)

Distributions of In-Kind Property

(1)

Problem Materials

APPENDIXES

Tax Rate Schedules and Tables

(1)

Tax Forms

(1)

Glossary of Key Terms

(1)

Table of Code Sections Cited

(12)

Table of Regulations Cited

(4)

Table of Revenue Procedures and Revenue Rulings Cited

Comprehensive Tax Return Problems

(1)

Subject Index

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West Federal Taxation 2006 Comprehensive Volume, Professional Version

West Federal Taxation 2006 Comprehensive Volume, Professional Version

9780324304954

0324304951

Summary

Table of Contents

Supplemental Materials

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Amazon no longer offers textbook rentals. We do!

West Federal Taxation 2006 Comprehensive Volume, Professional Version

West Federal Taxation 2006 Comprehensive Volume, Professional Version

9780324304954

0324304951

Summary

Table of Contents

Supplemental Materials

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