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Understanding federal income taxation

Burke, J. Martin author

Publication Details Click to collapse Cite/Export

  • Creator J. Martin Burke, Michael K. Friel
  • Format Books
  • Contributors
  • Publication
    • Sixth edition
    • Durham, North Carolina : Carolina Academic Press, [2019]
    • ©2019
  • Series
  • Physical Details
    • xxv, 717 pages ; 26 cm
  • ISBNs 9781531014599, 1531014593, 9781531014605
  • OCLC on1097363710

Notes

  • Includes index.

Contents

  • Introduction to federal income tax -- Gross income concepts and limitations -- The effect of an obligation to repay -- Gains derived from dealings in property -- Gifts, bequests and inheritance -- Sale of a principal residence -- Scholarships and prizes -- Life insurance, annuities, and individual retirement accounts -- Discharge of indebtedness -- Compensation for personal physical injury and physical sickness -- Fringe benefits -- Business and profit seeking expenses -- Deduction for qualified business income : Section 199A -- Capital expenditures -- Depreciation -- Losses and bad debts -- Travel expenses and business meals -- Educational expenses -- Dual use property : home offices, vacation homes, and passenger automobiles -- The interest deduction -- The deduction for taxes -- Casualty losses -- Medical expenses -- Charitable deductions -- Limitations on deductions -- Cash method accounting -- Accrual method accounting -- Annual accounting -- Capital gains and losses -- Quasi-capital assets : Section 1231 -- Depreciation recapture -- Assignment of income and kiddie tax -- Below-market loans -- Effect of debt on basis and amount realized -- Transfers between spouses and incident to divorce -- Like-kind exchanges of real property -- Involuntary conversions -- Installment sales -- Sale of a business and sale-leasebacks -- An introduction to original issue discount -- Limitations on tax shelters -- The alternative minimum tax
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