Federal Income Taxation of Corporations and Partnerships [Connected eBook]

by Abrams, Howard E.; Leatherman, Don A.; Brennan, Thomas

• ISBN13: 9781543857795
• ISBN10: 1543857795
• eBook ISBN(s): 9798894102443
• Edition: 7th
• Format: Hardcover
• Copyright: 2025-02-24
• Publisher: Aspen Publishing
• More Book Details

Summary

Buy a new version of this textbook and receive access to the Connected eBook on Casebook Connect, including academic lifetime access to the online ebook with highlight, annotation, and search capabilities. Access also includes an outline tool and other helpful resources. Connected eBooks provide what you need most to be successful in your law school classes.

This well-regarded textbook continues its fundamental approach of clear explanations, pervasive examples, and comprehensive problem sets throughout. Utilizing a problems-based approach, Federal Income Taxation of Corporations and Partnerships, Seventh Edition, by Howard E. Abrams, Don A. Leatherman, and new co-author Thomas J. Brennan covers taxation of the three major categories of business entities: Corporations, S Corporations, and Partnerships.  

New to the Seventh Edition:

• Revised and expanded explanation of §351 contributions with boot and with assumption of liabilities, including examples and illustrative diagrams
• Discussion of new corporate alternative minimum tax
• Revised and expanded explanation of §332 subsidiary liquidations, with Associated Wholesale Grocers summarized and explained rather than reported in full
• Revised and expanded explanation of taxable acquisitions and §338 elections, including coordinated examples in different situations and illustrative diagrams
• Expanded discussion of the effect of prior and subsequent transactions on reorganizations, with new addition of J.E. Seagram Corp. and notes, and revised and expanded discussion of multi-step mergers, with Rev. Rul. 2008-25 summarized and explained rather than reported in full
• New discussion of the excise tax on the repurchase of corporate stock
• Expanded discussion of the treatment of consolidated groups
• Streamlined partnership discussion by removing coverage of non-Subchapter K loss limitations
• New note on private equity waivers of guaranteed payments in favor of additional profit shares and the government response under section 707(a)(1)
• New note on partnership basis shifting transactions and the government’s responses
• Additional and revised problems in Subchapter K chapters

Professors and students will benefit from:

• Problems and examples in addition to cases and notes to cover all aspects of the subject
• Additional and revised problems in Subchapter K chapters
• Illustrations of typical commercial transactions
• Flexible enough to be used in two-, three-, or four-credit courses
• Stand-alone coverage of C corporations, S corporations, and partnerships

Table of Contents

Summary of Contents

Contents 
Preface

PART I SUBCHAPTER C CORPORATIONS 
Chapter 1. Introduction to the Corporate Income Tax 
Chapter 2. Corporate Formation
Chapter 3. Corporate Operation 
Chapter 4. Distributions of Cash and Property 
Chapter 5. Redemptions and Partial Liquidations 
Chapter 6. Distributions of Stock 
Chapter 7. Liquidations 
Chapter 8. Integration of the Corporate and Individual Income Taxes 
Chapter 9. Taxable Acquisitions
Chapter 10. Acquisitive Reorganizations
Chapter 11. Divisive Reorganizations
Chapter 12. One-Party Reorganizations
Chapter 13. Combining Tax Attributes: Net Operating Losses and Affiliated Corporations
Chapter 14. Penalty Provisions 
Chapter 15. The Corporation as a Separate Taxable Entity 

PART II SUBCHAPTER S CORPORATIONS
Chapter 16. S Corporations: Overview 
Chapter 17. S Corporations: Selected Topics 
Chapter 18. Transition Issues

PART III SUBCHAPTER K PARTNERSHIPS 
Chapter 19. The Structure of Partnership Taxation 
Chapter 20. Determining Distributive Shares
Chapter 21. Partner’s Outside Basis
Chapter 22. Nonliquidating Distributions
Chapter 23. Acquisitions of Partnership Interests 
Chapter 24. A Partner’s Transactions with the Partnership 
Chapter 25. Dispositions of Partnership Interests 
Chapter 26. Inside Basis Adjustments
Chapter 27. Partnership-Level Issues 

Table of Cases 
Table of Revenue Rulings and Procedures 
Index