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. Gross 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 COMPUTATIONS METHODS, TAX CREDITS, AND PAYMENT PROCEDURES. 12. Alternative Minimum Tax. 13. Tax Credits and Payment Procedures. PART V: PROPERTY TRANSACTIONS. 14.

Property Transactions: Determination of Gain or Loss, and Basis 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. APPENDICES.

Appendix A: Tax Formulas, Tax Rate Schedules, and Tables. Appendix B: Tax Forms. Appendix C: Glossary. Appendix D: Table of Code Sections Cited. Appendix E: Present Value and Future Value Tables. Appendix F: Practice Set Assignments - Comprehensive Tax Return Problems. Index.