Prentice Hall's Federal Taxation 2001, Individuals: Pope, Thomas R.: 9780130260178: Book: Business & Economics: eCampus.com

(Pearson Education) Annual which includes online Multistate Income Taxation information. Provides an overview of state and local tax systems. In-depth coverage of state income tax issues such as nexus, corporate filing options, state taxable income, allocation and apportionment, state taxation of S Corporations, and much more.

Preface

xiii

An Introduction To Taxation

(1)

History of Taxation in the United States

(1)

Early Periods

(1)

Revenue Acts From 1913 to the Present

(1)

Revenue Sources

(1)

Types of Tax Rate Structures

(4)

The Structure of Individual Income Tax Rates

(2)

The Structure of Corporate Tax Rates

(1)

Marginal, Average, and Effective Tax Rates for Taxpayers

(1)

Determination of Taxable Income and Tax Due

(1)

Types of Taxes

(4)

State Income and Franchise Taxes

(1)

Wealth Transfer Taxes

(3)

Other Types of Taxes

(1)

Criteria for a Tax Structure

(2)

Equity

(1)

Certainty

(1)

Convenience

(1)

Economy

(1)

Objectives of the Federal Income Tax Law

(1)

Economic Objectives

(1)

Encouragement of Certain Activities and Industries

(1)

Social Objectives

(1)

Tax Law Sources

(1)

Enactment of a Tax Law

(2)

Steps in the Legislative Process

(2)

Administration of the Tax Law and Tax Practice Issues

(3)

Organization of the Internal Revenue Service

(1)

Enforcement Procedures

(1)

Selection of Returns for Audit

(1)

Statute of Limitations

(1)

Interest

(1)

Penalties

(1)

Administrative Appeal Procedures

(1)

Components of a Tax Practice

(2)

Tax Compliance and Procedure

(1)

Tax Research

(1)

Tax Planning and Consulting

(1)

Financial Planning

(1)

Computer Applications in Tax Practice

(1)

Tax Return Preparation

(1)

Tax Planning Applications

(1)

Tax Research Applications

(1)

Problem Materials

Discussion Questions

(2)

Problems

(1)

Case Study Problem

(1)

Research Problem

Determination of Tax

(1)

Formula for Individual Income Tax

(5)

Basic Formula

(1)

Definitions

(3)

Tax Formula Illustrated

(1)

Deductions from Adjusted Gross Income

(11)

Itemized Deductions

(3)

Standard Deduction

(2)

Personal Exemptions

(1)

Dependency Exemptions

(5)

Child Credit

(1)

Determining the Amount of Tax

(6)

Filing Status

(1)

Joint Return

(1)

Surviving Spouse

(1)

Head of Household

(1)

Single Taxpayer

(1)

Married Filing a Separate Return

(1)

Abandoned Spouse

(1)

Dependents with Unearned Income

(2)

Corporate Tax Formula and Rates

(1)

Treatment of Capital Gains and Losses

(1)

Definition of Capital Assets

(1)

Tax Treatment of Gains and Losses

(1)

Tax Planning Considerations

(3)

Splitting Income

(1)

Maximizing Itemized Deductions

(1)

Filing Joint or Separate Returns

(2)

Compliance and Procedural Considerations

(1)

Who Must File

(1)

Due Dates for Filing Return

(1)

Use of Forms 1040, 1040EZ, and 1040A

(1)

System for Reporting Income

(1)

Problem Materials

Discussion Questions

(1)

Issue Identification Questions

(1)

Problems

(4)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problems

Gross Income: Inclusions

(1)

Economic and Accounting Concepts of Income

(1)

Economic Concept

(1)

Accounting Concept

(1)

Concept of Income

(3)

Administrative Convenience

(1)

Wherewithal to Pay

(1)

Gross Income Defined

(2)

To Whom Is Income Taxable?

(2)

Assignment of Income

(1)

Allocating Income Between Married People

(2)

Income of Minor Children

(1)

When Is Income Taxable?

(4)

Cash Method

(3)

Accrual Method

(1)

Hybrid Method

(1)

Items of Gross Income: Sec. 61(a)

(10)

Compensation

(1)

Business Income

(1)

Gains from Dealings in Property

(1)

Interest

(1)

Rents and Royalties

(1)

Dividends

(2)

Alimony and Separate Maintenance Payments

(2)

Pensions and Annuities

(2)

Income from Life Insurance and Endowment Contracts

(1)

Income from Discharge Of Indebtedness

(1)

Income Passed Through to Taxpayer

(1)

Other Items of Gross Income

(4)

Prizes, Awards, Gambling Winnings, and Treasure Finds

(1)

Illegal Income

(1)

Unemployment Compensation

(1)

Social Security Benefits

(1)

Insurance Proceeds and Court Awards

(1)

Recovery of Previously Deducted Amounts

(1)

Claim of Right

(1)

Tax Planning Considerations

(3)

Shifting Income

(1)

Alimony

(1)

Prepaid Income

(1)

Taxable, Tax-Exempt, or Tax-Deferred Bonds

(1)

Reporting Savings Bond Interest

(1)

Deferred Compensation Arrangements

(1)

Compliance and Procedural Considerations

(1)

Problem Materials

Discussion Questions

(3)

Issue Identification Questions

(1)

Problems

(3)

Comprehensive Problems

(1)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problem

Gross Income: Exclusions

(1)

Items That Are Not Income

(2)

Unrealized Income

(1)

Self-Help Income

(1)

Rental Value of Personal-Use Property

(1)

Selling Price of Property

(1)

Major Statutory Exclusions

(17)

Gifts and Inheritances

(1)

Life Insurance Proceeds

(1)

Adoption Expenses

(1)

Awards for Meritorious Achievement

(1)

Scholarships and Fellowships

(1)

Distributions from Qualified State Tuition Programs

(1)

Payments for Injury and Sickness

(1)

Employee Fringe Benefits

(8)

Foreign-Earned Income Exclusion

(1)

Income from The Discharge of A Debt

(2)

Exclusion for Gain from Small Business Stock

(1)

Other Exclusions

(1)

Tax Planning Considerations

(1)

Employee Fringe Benefits

(1)

Self-Help and Use of Personally Owned Property

(1)

Compliance and Procedural Considerations

(1)

Problem Materials

Discussion Questions

(1)

Issue Identification Questions

(1)

Problems

(4)

Comprehensive Problem

(1)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problems

Property Transactions: Capital Gains and Losses

(1)

Determination of Gain Or Loss

(3)

Realized Gain or Loss

(2)

Recognized Gain or Loss

(1)

Basis Considerations

(7)

Cost of Acquired Property

(1)

Property Received as a Gift: Gifts After 1921

(1)

Property Received from a Decedent

(2)

Property Converted From Personal Use to Business Use

(1)

Allocation of Basis

(2)

Definition of a Capital Asset

(3)

Influence of the Courts

(1)

Other IRC Provisions Relevant to Capital Gains and Losses

(2)

Tax Treatment For Capital Gains and Losses of Noncorporate Taxpayers

(5)

Capital Gains

(1)

Adjusted Net Capital Gains (ANCG)

(1)

Capital Losses

(3)

Sale or Exchange

(7)

Worthless Securities

(1)

Retirement of Debt Instruments

(3)

Options

(1)

Patents

(1)

Franchises, Trademarks, and Trade Names

(1)

Lease Cancellation Payments

(1)

Holding Period

(2)

Property Received as a Gift

(1)

Property Received from a Decedent

(1)

Nontaxable Exchanges

(1)

Receipt of Nontaxable Stock Dividends and Stock Rights

(1)

Preferential Treatment for Net Capital Gains

(1)

Mobility of Capital

(1)

Mitigation of the Effects of Inflation and the Progressive Tax System

(1)

Lower the Cost of Capital

(1)

Tax Planning Considerations

(1)

Selection of Property to Transfer By Gift

(1)

Selection of Property to Transfer at Time of Death

(1)

Compliance and Procedural Considerations

(1)

Documentation of Basis

(1)

Reporting of Capital Gains and Losses On Schedule D

(1)

Problem Materials

Discussion Questions

(4)

Issue Identification Questions

(1)

Problems

(4)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problems

Deductions and Losses

(1)

Business or Investment Requirement

(2)

Ordinary Expense

(1)

Necessary Expense

(1)

Reasonable Expense

(1)

Expenses and Losses Must Be Incurred By the Taxpayer

(1)

General Restrictions on the Deductibility of Expenses

(8)

Capitalization Versus Expense Deduction

(1)

Expenses Related to Exempt Income

(1)

Expenditures That Are Contrary To Public Policy

(2)

Other Expenditures That Are Specifically Disallowed

(3)

Proper Substantiation Requirement

(1)

When an Expense Is Deductible

(6)

Cash Method

(2)

Accrual Method

(3)

Special Disallowance Rules

(11)

Wash Sales

(2)

Transactions Between Related Parties

(3)

Hobby Losses

(2)

Vacation Home

(3)

Expenses of an Office in the Home

(1)

Tax Planning Considerations

(2)

Hobby Losses

(1)

Unreasonable Compensation

(1)

Timing of Deductions

(1)

Compliance and Procedural Considerations

(1)

Proper Classification of Deductions

(1)

Proper Substantiation

(1)

Business Versus Hobby

(1)

Problem Materials

Discussion Questions

(1)

Issue Identification Questions

(1)

Problems

(5)

Comprehensive Problem

(1)

Tax Form/Return Preparation Problems

(2)

Case Study Problems

(1)

Tax Research Problem

Itemized Deductions

(1)

Medical Expenses

(6)

Qualified Individuals

(1)

Qualified Medical Expenses

(3)

Amount and Timing of Deduction

(2)

Taxes

(3)

Definition of a Tax

(1)

Deductible Taxes

(1)

Nondeductible Taxes

(1)

State and Local Income Taxes

(1)

Personal Property Taxes

(1)

Real Estate Taxes

(1)

General Sales Tax

(1)

Self-Employment Tax

(1)

Interest

(9)

Definition of Interest

(1)

Classification of Interest Expense

(7)

Timing of the Interest Deduction

(1)

Charitable Contributions

(8)

Qualifying Organization

(1)

Type of Property Contributed

(2)

Deduction Limitations

(1)

Application of Carryovers

(1)

Special Rules for Charitable Contributions Made By Corporations

(1)

Summary of Deduction Limitations

(2)

Casualty and Theft Losses

(1)

Miscellaneous Itemized Deductions

(1)

Certain Employee Expenses

(1)

Expenses to Produce Income

(1)

Cost of Tax Advice

(1)

Reduction of Certain Itemized Deductions

(1)

Tax Planning Considerations

(3)

Medical Expense Deduction

(1)

Interest Expense Deduction

(1)

Deduction for Charitable Contributions

(1)

Compliance and Procedural Considerations

(3)

Medical Expenses

(1)

Contribution of Property

(1)

Charitable Contributions

(3)

Taxes

(1)

Problem Materials

Discussion Questions

(2)

Issue Identification Questions

(1)

Problems

(4)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problem

Losses And Bad Debts

(1)

Transactions That May Result in Losses

(2)

Sale or Exchange of Property

(1)

Expropriated, Seized, or Confiscated Property

(1)

Abandoned Property

(1)

Worthless Securities

(1)

Demolition of Property

(1)

Classifying the Loss on The Taxpayer's Tax Return

(3)

Ordinary Versus Capital Loss

(2)

Disallowance Possibilities

(1)

Passive Losses

(9)

Computation of Passive Losses and Credits

(1)

Carryovers

(2)

Definition of a Passive Activity

(2)

Taxpayers Subject to Passive Loss Rules

(2)

Publicly Traded Partnerships

(1)

Other Rental Real Estate Activities

(2)

Casualty and Theft Losses

(6)

Casualty Defined

(2)

Theft Defined

(1)

Deductible Amount of Casualty Loss

(1)

Limitations on Personal-Use Property

(1)

Netting Casualty Gains and Losses on Personal-use Property

(1)

Casualty Gains and Losses Attributable to Business and Investment Property

(1)

When Losses Are Deductible

(1)

Bad Debts

(6)

Bona Fide Debtor-creditor Relationship

(1)

Taxpayer's Basis in the Debt

(1)

Debt must be Worthless

(1)

Nonbusiness Bad Debts

(1)

Business Bad Debts

(1)

Accounting for the Business Bad Debt

(1)

Recovery of Bad Debts

(1)

Deposits in Insolvent Financial Institutions

(1)

Net Operating Losses

(4)

Computing the Net Operating Loss

(3)

Carryback and Carryover Periods

(1)

Recomputation of Taxable Income in the Carryover Year

(1)

Tax Planning Considerations

(1)

Bad Debts

(1)

Casualties

(1)

Net Operating Losses

(1)

Compliance and Procedural Considerations

(1)

Casualty Losses

(1)

Net Operating Losses

(1)

Worthless Securities

(1)

Problem Materials

Discussion Questions

(2)

Issue Identification Questions

(1)

Problems

(4)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problem

Employee Expenses And Deferred Compensation

(1)

Classification of Employee Expenses

(2)

Limitations on Unreimbursed Employee Expenses

(1)

Travel Expenses

(4)

Deductibility of Travel Expenses

(1)

Definition of Travel Expenses

(1)

General Qualification Requirements

(1)

Business Versus Pleasure

(1)

Foreign Travel

(1)

Additional Limitations on Travel Expenses

(1)

Transportation Expenses

(4)

Definition and Classification

(1)

Treatment of Automobile Expenses

(1)

Reimbursement of Automobile Expenses

(1)

Entertainment Expenses

(3)

50% Disallowance for Meal and Entertainment Expenses

(1)

Classification of Expenses

(1)

Business Meals

(1)

Entertainment Facilities and Club Dues

(1)

Business Gifts

(1)

Limitations on Entertainment Tickets

(1)

Reimbursed Employee Business Expenses

(3)

Moving Expenses

(2)

Expense Classification

(1)

Definition of Moving Expenses

(1)

Treatment of Employer Reimbursements

(1)

Education Expenses

(2)

Classification of Education Expenses

(1)

General Requrements for a Deduction

(1)

Office in Home Expenses

(3)

General Requirements for a Deduction

(2)

Deduction and Limitation

(1)

Deferred Compensation

(15)

Qualified Pension and Profit-Sharing Plans

(1)

Qualification Requirements for a Qualified Plan

(1)

Tax Treatment to Employees and Employers

(1)

Nonqualified Plans

(3)

Employee Stock Options

(1)

Plans for Self-Employed Individuals

(2)

Individual Retirement Accounts (IRAs)

(1)

Traditional IRA

(2)

Roth IRA

(2)

Education IRA

(1)

Simplified Employee Pensions

(1)

Tax Planning Considerations

(2)

Moving Expenses

(1)

Providing Nontaxable Compensation To Employees

(1)

Compliance and Procedural Considerations

(4)

Substantiating Travel and Entertainment Expenses

(1)

Reporting Employee Business Expenses

(3)

Reporting Moving Expenses

(1)

Reporting Office in Home Expenses

(1)

Qualification of Pension and Profit-Sharing Plans

(1)

Problem Materials

Discussion Questions

(3)

Issue Identification Questions

(1)

Problems

(7)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problem

Depreciation, Cost Recovery, Amortization, and Depletion

(1)

General Considerations

(2)

Pre-ACRS Depreciation (Years Before 1981)

(1)

ACRS (1981 Through 1986)

(2)

MACRS (1987 and Later Years)

(4)

Section 179 Expensing Election

(1)

Macrs Restrictions

(3)

Amortization

(6)

Sec. 197 Intangibles

(3)

Depletion Methods

(2)

Treatment of Intangible Drilling and Development Costs

(1)

Tax Planning Considerations

(2)

Alternative Depreciation System Under MACRS

(1)

IDCs: Capitalization Versus Expensing Election

(2)

Structuring a Business Combination

(1)

Compliance and Procedural Considerations

(1)

IDC Election Procedures

(1)

Reporting Cost Recovery, Depreciation, Depletion, and Amortization Deductions

(1)

Problem Materials

Discussion Questions

(5)

Issue Identification Questions

(1)

Problems

(3)

Tax Form/Return Preparation Problems

(2)

Case Study Problems

(1)

Tax Research Problem

Accounting Periods and Methods

(1)

Accounting Periods

(5)

Required Payments and Fiscal Years

(1)

Changes in the Accounting Period

(1)

Returns for Periods of Less Than 12 Months

(2)

Overall Accounting Methods

(3)

Cash Receipts and Disbursements Method

(1)

Accrual Method

(1)

Hybrid Method

(1)

Inventories

(4)

Determination of Inventory Cost

(3)

Special Accounting Methods

(7)

Long-Term Contracts

(3)

Installment Sales Method

(3)

Deferred Payment Sales

(1)

Imputed Interest

(3)

Imputed Interest Computation

(1)

Accrual of Interest

(1)

Gift, Shareholder, and Other Loans

(1)

Change in Accounting Methods

(3)

Amount of Change

(1)

Reporting the Amount of the Change

(1)

Obtaining IRS Consent

(1)

Tax Planning Considerations

(1)

Accounting Periods

(1)

Accounting Methods

(1)

Installment Sales

(1)

Compliance and Procedural Considerations

(2)

Reporting Installment Sales on Form 6252

(2)

Procedures for Changing to LIFO

(1)

Problem Materials

Discussion Questions

(1)

Issue Identification Questions

(1)

Problems

(3)

Tax Form/Return Preparation Problem

(1)

Case Study Problems

(1)

Tax Research Problems

Property Transactions: Nontaxable Exchanges

(1)

Like-Kind Exchanges

(8)

Like-Kind Property Defined

(3)

A Direct Exchange Must Occur

(1)

Three-Party Exchages

(1)

Receipt of Boot

(1)

Basis of Property Received

(1)

Exchanges Between Related Parties

(1)

Transfer of Non-Like-Kind Property

(1)

Holding Period for Property Received

(1)

Involuntary Conversions

(6)

Involuntary Conversion Defined

(1)

Tax Treatment of Gain Due to Involuntary Conversion Into Boot

(1)

Tax Treatment of Gain Due to An Involuntary Conversion Directly Into Similar Property

(1)

Replacement Property

(2)

Obtaining Replacement Property

(1)

Time Requirements for Replacement

(1)

Sale of Principal Residence

(5)

Sale of More Than One Principal Residence Within a Two-Year Period

(2)

Involuntary Conversion of a Principal Residence

(1)

Tax Planning Considerations

(2)

Avoiding the Like-Kind Exchange Provisions

(1)

Sale of a Principal Residence

(2)

Compliance and Procedural Considerations

(1)

Reporting of Involuntary Conversions

(1)

Reporting of Sale or Exchange of a Principal Residence

(1)

Problem Materials

Discussion Questions

(1)

Issue Identification Questions

(1)

Problems

(5)

Tax Form/Return Preparation Problems

(2)

Case Study Problems

(1)

Tax Research Problems

Property Transactions: Section 1231 and Recapture

(1)

History of Sec. 1231

(1)

Overview of Basic Tax Treatment for Sec. 1231

(2)

Net Gains

(1)

Net Losses

(1)

Tax Rate for Net Sec. 1231 Gain

(1)

Section 1231 Property

(2)

Section 1231 Property Defined

(1)

Real or Depreciable Property Used in Trade or Business

(1)

Involuntary Conversions

(1)

Condemnations

(1)

Other Involuntary Conversions

(1)

Procedure For Sec. 1231 Treatment

(1)

Recapture Provisions of Sec. 1245

(2)

Purpose of Sec. 1245

(1)

Recapture Provisions of Sec. 1250

(5)

Purpose of Sec. 1250

(1)

Unrecaptured Section 1250 Gain

(1)

Recapture Rules For Residential Rental Property

(1)

Residential Rental Property That Is Recovery Property

(1)

Recapture Rules For Nonresidential Real Estate

(1)

Low-Income Housing

(1)

Additional Recapture for Corporations

(2)

Summary of Sec. 1231, 1245 and 1250 Gains

(1)

Recapture Provisions---Other Applications

(5)

Gifts of Property Subject to Recapture

(1)

Transfer of Property Subject to Recapture At Death

(1)

Charitable Contributions

(1)

Like-kind Exchanges

(1)

Involuntary Conversions

(1)

Installment Sales

(1)

Section 179 Expensing Election

(1)

Conservation and Land Clearing Expenditures

(1)

Intangible Drilling Costs and Depletion

(1)

Gain on Sale of Depreciable Property Between Related Parties

(1)

Tax Planning Considerations

(1)

Avoiding the Recapture Provisions

(1)

Compliance and Procedural Considerations

(5)

Reporting Sec. 1231 Gains and Losses on Form 4797

(1)

Reporting Gains Recaptured as Ordinary Income on Form 4797

(1)

Reporting Casualty or Theft Gain or Loss on Form 4684

(4)

Problem Materials

Discussion Questions

(1)

Issue Identification Questions

(1)

Problems

(5)

Tax Form/Return Preparation Problems

(1)

Case Study Problem

(1)

Tax Research Problem

Special Tax Computation Methods, Tax Credits, and Payment of Tax

(1)

Alternative Minimum Tax

(5)

Computational Aspects

(1)

Tax Preference Items

(1)

AMT Adjustments

(3)

Summary Illustration of the AMT Computations

(1)

Self-Employment Tax

(1)

Computing the Tax

(1)

What Constitutes Self-Employment Income

(1)

Overview of Tax Credits

(1)

Use and Importance of Tax Credits

(1)

Value of a Credit Versus a Deduction

(1)

Classification of Credits

(1)

Personal Tax Credits

(6)

Child Tax Credit

(1)

Child and Dependent Care Credit

(2)

Tax Credit for the Elderly and Disabled

(1)

Adoption Credit

(1)

Hope Scholarship Credit

(1)

Lifetime Learning Credit

(1)

Miscellaneous Credits

(1)

Foreign Tax Credit

(1)

General Business Credits

(4)

Credit for Increasing Research Activities

(1)

Disabled Access Credit

(1)

Tax Credit for Rehabilitation Expenditures

(1)

Business Energy Credits

(1)

Work Opportunity Credit

(1)

Welfare-to-Work Credit

(1)

Empowerment Zone Employment Credit

(1)

Limitation Based Upon Tax Liability

(1)

Refundable Credits

(3)

Earned Income Credit

(3)

Payment of Taxes

(5)

Withholding of Taxes

(3)

Estimated Tax Payments

(2)

Tax Planning Considerations

(2)

Avoiding the Alternative Minimum Tax

(1)

Avoiding the Underpayment Penalty for Estimated Tax

(1)

Cash-Flow Considerations

(1)

Use of General Business Tax Credits

(1)

Foreign Tax Credits and the Foreign Earned Income Exclusion

(1)

Child and Dependent Care Credit

(1)

Compliance and Procedural Considerations

(1)

Alternative Minimum Tax Filing Procedures

(1)

Withholding and Estimated Tax

(1)

General Business Tax Credits

(1)

Personal Tax Credits

(1)

Problem Materials

Discussion Questions

(2)

Issue Identification Questions

(1)

Problems

(4)

Comprehensive Problem

(1)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problem

Tax Research

(1)

Overview of Tax Research

(1)

Steps in the Tax Research Process

(2)

Importance of the Facts to the Tax Consequences

(1)

Ability to Design a Factual Situation Favoring the Taxpayer

(1)

The Sources of Tax Law

(19)

The Legislative Process

(1)

The Internal Revenue Code

(1)

Treasury Regulations

(2)

Administrative Interpretations

(2)

Judicial Decisions

(11)

Tax Treaties

(1)

Tax Periodicals

(1)

Tax Services

(2)

United States Tax Reporter

(1)

Standard Federal Tax Reporter

(1)

Federal Tax Coordinator 2d

(1)

Law of Federal Income Taxation (Mertens)

(1)

Tax Management Portfolios

(1)

CCH Federal Tax Service

(1)

Citators

(4)

CCH citator

(2)

Research Institute of America Citator 2nd Series

(1)

Computers As a Research Tool

(3)

Statements on Responsibilities in Tax Practice

(2)

Sample Work Papers and Client Letter

(1)

Problem Materials

Discussion Questions

(1)

Problems

(3)

Comprehensive Problem

(1)

Case Study Problem

(1)

Tax Research Problem

Corporations

(1)

Definition of a Corporation

(1)

Similarities and Differences Between Corporations and Individuals

(1)

Similarities

(1)

Differences

(1)

Specific Rules Applicable to Corporations

(4)

Capital Gains and Losses

(1)

Dividends-Received Deduction

(1)

Net Operating Losses

(1)

Charitable Contributions

(1)

Compensation Deduction Limitation For Publicly Held Corporations

(1)

Computation of Tax

(11)

Computation of Taxable Income

(1)

Computation of Regular Tax

(3)

Computation of the Corporate Alternative Minimum Tax (AMT)

(2)

Penalty Taxes

(3)

Computation of Tax for Controlled Groups

(3)

Consolidated Returns

(1)

Transfers of Property to Controlled Corporations

(4)

Section 351 Nonrecognition Requirements

(1)

Basis Considerations

(1)

Treatment of Liabilities

(1)

Capitalization of the corporation

(1)

Earnings and Profits

(3)

Calculation of Earnings and Profits

(2)

Current Versus Accumulated E&P

(1)

Nonmoney Distributions

(1)

Tax Consequences to the Shareholders

(1)

Tax Consequences to the Distributing Corporation

(1)

Stock Redemptions

(3)

Determining Whether a Redemption is a Dividend or Capital Gain

(1)

Redemption Provisions for Special Situations

(1)

Corporate Distributions in Complete Liquidation

(2)

Tax Consequences to the Liquidating Corporation

(1)

Tax Consequences to the Shareholders

(1)

Section 332: Liquidation of a Subsidiary Corporation

(1)

Tax Planning Considerations

(2)

Capital Structure and Section 1244

(1)

Dividend Policy

(1)

Use of Losses

(1)

Charitable Contributions

(1)

Dividends-Received Deduction

(1)

Compliance and Procedural Considerations

(2)

Filing Requirements

(1)

Schedule M-1 and M-2 Reconciliations

(1)

Maintenance of Records for E&P

(1)

Problem Materials

Discussion Questions

(1)

Issue Identification Questions

(1)

Problems

(6)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problem

Partnerships and S Corporations

(1)

Types of Flow-Through Entities

(2)

Partnerships

(1)

S Corporations

(1)

Limited Liability Companies

(1)

Limited Liability Partnerships

(1)

Taxation of Partnerships

(13)

Formation of A Partnership

(3)

Partnership Operations

(1)

Special Allocations

(1)

Allocation of Partnership Income, Deductions, Losses, and Credits to Partners

(1)

Basis Adjustments for Operating Items

(1)

Limitations on Losses and Restoration of Basis

(1)

Transactions Between a Partner and the Partnership

(2)

Partnership Distributions

(1)

Sale of a Partnership Interest

(1)

Optional Basis Adjustments

(1)

Electing Large Partnerships

(1)

Partnership Elections

(2)

Tax Year Restrictions

(1)

Cash Method of Accounting Restrictions

(1)

Taxation of S Corporations

(10)

Qualification Requirements

(1)

Election Requirements

(1)

Termination Conditions

(2)

S Corporation Operations

(1)

Basis Adjustments to S Corporation Stock

(1)

S Corporation Losses and Limitations

(1)

Other S Corporation Considerations

(3)

Tax Planning Considerations

(2)

Use of Operating Losses

(1)

Income Shifting Among Family Members

(1)

Optional Basis Adjustment Election Under Sec. 754

(1)

Compliance and Procedural Considerations

(3)

Partnership Filing Requirements and Elections

(1)

Reporting Partnership Items on Form 1065

(1)

S Corporation Filing Requirements and Accounting Method Elections

(1)

Reporting S Corporation Items on Form 1120S

(1)

Comparison of Alternative Forms of Business Organizations

(2)

Problem Materials

Discussion Questions

(2)

Issue Identification Questions

(1)

Problems

(5)

Comprehensive Problem

(1)

Tax Form/Return Preparation Problems

(1)

Case Study Problems

(1)

Tax Research Problems

Taxes and Investment Planning

(9)

Investment Models

(14)

The Current Model

(3)

The Deferred Model

(4)

The Exempt Model

(1)

The Pension Model

(4)

Multiperiod Strategies

(1)

Summary and Comparison of Basic Investment Models

(2)

Other Applications of Investment Models

(9)

Flow-Through Entity Versus C Corporation

(4)

Current Salary Versus Deferred Compensation

(5)

Implicit Taxes and Clienteles

(4)

Problem Materials

Discussion Questions

(1)

Problems

TABLES

1996 Tax Tables and Rate Schedules T-1

APPENDICES

Appendix A Tax Research Working Paper File

A-1

Appendix B Tax Forms

B-1

Appendix C MACRS and ACRS Tables

C-1

Appendix D Glossary

D-1

Appendix E Statements on Responsibilities in Tax Practice (SRTPs)

E-1

Appendix F Index of Code Sections

F-1

Appendix G Index of Treasury Regulations

G-1

Appendix H Index of Government Promulgations

H-1

Appendix I Index of Court Cases

I-1

Appendix J Subject Index

J-1


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