Part I: INTRODUCTION AND BASIC TAX MODEL.

1. An Introduction to Taxation and Understanding the Federal Tax Law.

2. Working with the Tax Law.

3. Tax Formula and Tax Determination; An Overview of Property Transactions. Part II: GROSS INCOME.

4. Gross Income: Concepts and Inclusions.

5. Cross Income: Exclusions. Part III: DEDUCTIONS.

6. Deductions and Losses: In General.

7. Deductions and Losses: Certain Business Expenses and Losses.

8. Depreciation, Cost Recovery, Amortization, and Depletion.

9. Deductions: Employee and Self-Employed-Related Expenses.

10. Deductions and Losses: Certain Itemized Deductions.

11. Investor Losses. Part IV: SPECIAL TAX COMPUTATION METHODS, PAYMENT PROCEDURES, AND TAX CREDITS.

12. Alternative Minimum Tax.

13. Tax Credits and Payment Procedures. PART V: PROPERTY TRANSACTIONS.

14. Property Transactions: Determination of Gain or Loss and Basic Considerations.

15. Property Transactions: Nontaxable Exchanges.

16. Property Transactions: Capital Gains and Losses.

17. Property Transactions: Section 1231 and Recapture Provisions. Part VI: ACCOUNTING PERIODS, ACCOUNTING METHODS, AND DEFERRED COMPENSATION.

18. Accounting Periods and Methods.

19. Deferred Compensation. Part VII: CORPORATIONS AND PARTNERSHIPS.

20. Corporations and Partnerships. Appendix A: Tax Rate Schedules and Tables. Appendix B: Tax Forms. Appendix C: Glossary. Appendix D: Table of Code Sections Cited, Table of Regulations Cited,Table of Revenue Procedures and Revenue Rulings Cited. Appendix E: Practice Set Assignments–Comprehensive Tax Return Problems. Appendix F: Table of Cases Cited. Appendix G: Depreciation (online only) Appendix H: Tax Formulas. Appendix I: Present Value & Future Value Tables. Index.