ISBN-10:
1454833904
ISBN-13:
9781454833901
Pub. Date:
07/28/2014
Publisher:
Wolters Kluwer Law & Business
Examples & Explanations: Federal Income Taxation 7e / Edition 7

Examples & Explanations: Federal Income Taxation 7e / Edition 7

Paperback

View All Available Formats & Editions
Current price is , Original price is $53.95. You
Select a Purchase Option (New Edition)
  • purchase options
    $45.85 $53.95 Save 15% Current price is $45.85, Original price is $53.95. You Save 15%.
  • purchase options

Product Details

ISBN-13: 9781454833901
Publisher: Wolters Kluwer Law & Business
Publication date: 07/28/2014
Edition description: New Edition
Pages: 601
Sales rank: 217,971
Product dimensions: 7.00(w) x 10.00(h) x 1.20(d)

Table of Contents

An Introductory Note to Students xiii

Acknowledgments xv

Chapter 1 Introduction 1

A Introduction to Terminology and Structure 2

B Time Value of Money and the Value of Deferring Tax 11

C Alternative Tax Bases: Consumption Tax and Value Added Tax 18

D Tax Administration and Litigation 24

E Tax Legislation 30

F Tax Research 32

Chapter 2 Some Characteristics of Gross Income 37

A The Haig-Simons Definition of Income 37

B Noncash Compensation: Fringe Benefits 39

1 Employer-Provided Meals and Lodging 39

2 Employer-Provided Insurance and Health, Accident, and Death Benefits 46

3 The Section 132 Exclusion for Miscellaneous Fringe Benefits 50

C Imputed Income 65

D Windfalls, Gifts, Scholarships, Prizes, and Transfer Payments 68

1 Windfalls 68

1 Gifts and Bequests 69

3 Scholarships, Prizes, and Awards 76

4 Transfer Payments 78

E Selected Recovery of Capital Issues: Partial Sales, Annuities, Insurance Policies, Life Estates, and Remainder Interests 79

1 Partial Sales 80

2 Annuities 82

3 Life Insurance 89

4 Gambling Winnings and Losses 92

5 Life Estates and Remainder Interests 96

F Annual Accounting 98

G Personal Injury Recoveries 103

H Transactions Involving Loans and Income from Discharge of Indebtedness 112

I Tax-Exempt Bonds 123

J Gain from the Sale of a Personal Residence 124

Chapter 3 Problems of Timing 117

A Gains and Losses from Investment in Property 128

1 Realization of Gains and Losses 128

2 Recognition of Gains and Losses 129

a Like-Kind Exchanges 130

b Other Nonrecognition Rules 144

B Transfers Incident to Marriage and Divorce 146

C Installment Sale and Open Transaction Reporting 155

D Original Issue Discount 160

E The Cash Method of Accounting 167

F Section 83 Transfers 175

G The Accrual Method of Accounting 184

Chapter 4 Personal Deductions, Exemptions, and Credits 191

A Introduction 191

B Casualty Losses 199

C Extraordinary Medical Expenses 208

D Charitable Contributions 218

E Personal Interest 232

F Taxes 238

Chapter 4 Deductions for the Costs of Earning Income 243

A The Statutory Framework 244

B Current Expenses versus Capital Expenditures 246

C Repair and Maintenance Expenses 257

D Inventory Accounting 264

E Rent Payments versus Installment Purchase 274

F Goodwill and Other Intangible Assets 278

G "Ordinary and Necessary" Expenses 282

1 The Scope of "Ordinary and Necessary" 282

2 Reasonable Compensation 284

3 Costs Associated with Illegal or Unethical Activities 286

H Depreciation and the Accelerated Cost Recovery System 288

I Depletion Deductions 306

J Tax Shelters 308

1 The Characteristics of Tax Shelters 308

2 The Judicial Response to Tax Shelters 310

3 The Congressional Response to Tax Shelters 317

a The Investment Interest Limitation of § 163(d) 318

b The Passive Loss Rules of §469 321

c The At-Risk Rules of §465 332

d The Limitations of §§264 and 265 341

4 Sale and Leaseback Transactions 344

5 Corporate and Individual Tax Shelters of the 1990s 348

K Alternative Minimum Tax 352

Chapter 6 Mixed Personal and Business Expenditures 355

A Controlling the Abuse of Business Deductions 356

1 Hobby Losses 356

2 Rental of a Dwelling Used by the Taxpayer 362

3 Home Offices, Computers, and Automobiles 369

B Travel and Entertainment Expenses 376

C Child Care Expenses 385

D Commuting Expenses 389

E Clothing Expenses 392

F Legal Expenses 395

G Educational Expenses 397

Chapter 7 Income Shifting 411

A Income from Services and Property 411

B Same-Sex Couples, Joint Return Filing, and the Relationship between State Law and Federal Tax Law 422

C Trusts 426

D Grantor Trusts 430

E Family Partnerships 435

F Below-Market Loans 438

Chapter 8 Capital Gains and Losses 443

A The Tax Treatment of Capital Gains and Losses 443

B Policy Rationale for the Treatment of Capital Gain and Loss 452

C The Definition of "Capital Asset" 454

D Section 1231 and Depreciation Recapture 466

E Substitutes for Ordinary Income 472

F The Tax on Net Investment Income 478

G The Sale of a Business 482

H Connected Current and Prior Transactions 486

Appendix: Sample Examinations 487

Table of Cases 571

Table of Internal Revenue Code Sections 575

Table of Treasury Regulations 587

Table of Other Administrative Pronouncements 591

Topical Index 593

Customer Reviews

Most Helpful Customer Reviews

See All Customer Reviews