Federal Taxation

Now with TaxCut! To offer maximum flexibility in your course, the text not only focuses on Federal income taxation of individuals, but also covers additional topics such as the income taxation of regular additional topics such as the income taxation of regular corporations and shareholders, Federal estate and gift taxation, and the income taxation of estates, trusts, and beneficiaries and the major aspects of tax planning.

PART I: Introduction to the Federal Tax System Chapter 1: An Overview of Federal Taxation Chapter 2: Tax Practice and Research Chapter 3: Taxable Entities, Tax Formula, Introduction to Property Transactions Chapter 4: Personal and Dependency Exemptions; Filing Status; Determination of Tax for an Individual; Filing Requirements PART II: Gross Income Chapter 5: Gross Income Chapter 6: Gross Income: Inclusions and Exclusions Chapter 7: Overview of Deductions and Losses Chapter 8: Employee Business Expenses Chapter 9: Capital Recover: Depreciation, Amortization, and Depletion Chapter 10: Certain Business Deductions and Losses Chapter 11: Itemized Deductions Chapter 12: Deductions for Certain Investment Expenses and Losses PART IV: Alternative Minimum Tax and Tax Credits Chapter 13: The Alternative Minimum Tax and Tax Credits PART V: Property Transactions Chapter 14: Property Transactions: Basis Determination and Recognition of Gain or Loss Chapter 15: Nontaxable Exchanges Chapter 16: Property Transactions: Capital Gains and Losses Chapter 17: Property Transactions: Dispositions of Trade or Business Property PART VI: Employee Compensation and Retirement Plans Chapter 18: Employee Compensation and Retirement Plans PART VII: Corporate Taxation Chapter 19: Corporations: Formation and Operation Chapter 20: Corporate Distributions, Redemptions, and Liquidations Chapter 21: Penalty Taxes on Corporate Accumulations PART VIII: Flow-Through Entities Chapter 22: Taxation of Partnerships and Partners Chapter 23: S Corporations PART IX: Family Tax Planning Chapter 24: Estate and Gift Taxation Chapter 25: Income Taxation of Estates and Trusts Chapter 26: Family Tax Planning APPENDIX A: Tax Rate Schedules and Tables APPENDIX B: Tax Forms APPENDIX C: Modified ACRS and Original ACRS Tables APPENDIX D: Two Individual Comprehensive Tax Return Problems for 2007 APPENDIX E: Glossary of Tax Terms INDEX