I. Gross income. The nature of gross income ; Examples of gross income ; Items specifically excluded from gross income by statute -- II. Deductions and allowances. Profit related deductions and allowances ; Personal deductions and allowances ; Restrictions on deductions -- III. Timing. Taxable period ; Methods of accounting ; Judicial doctrines ; Nonrecognition provisions ; Unstated interest ; Special rules -- IV. Who is the proper taxpayer? Families ; Assignment of income ; Alimony, child support, and property settlements -- V. Characterization of income and deductions. Introduction ; Treatment of capital gains and losses ; Quasi-capital assets ; Sale of depreciable property between related taxpayers ; Recapture of depreciation -- VI. Computing tax liability. Adjusted gross income ; Taxable income ; Classification of taxpayers ; Tax rates ; Alternative minimum tax ; Tax credits -- VII. Procedure. Pay as you earn ; Income tax returns ; Refunds ; Deficiencies ; Taxpayer bill of rights ; Court structure
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