Special Probs in Federal Tax

Hours

3.0 Credit, 3 Lecture, 0 Lab

Semester

Fall

Special property transactions, accounting periods and methods, tax payments and credit, tax concepts, and reporting tax liability.

Tax Consequences of Property Transactions

Determine and calculate the tax consequences of property transactions, including depreciation, realized and recognized gain and loss and its character.

Corporate Taxable Income

Properly calculate corporate taxable income. This includes completing a Form 1120, understanding the differences between book income and taxable income, and calculate the 199A and 163(j) deductions.

S Corporations

Properly calculate S corporation taxable income include stock/debt basis as well as AAA/OAA accounts.