Exam Type: In Class
This course is an introductory study of federal income taxation covering inclusion and exclusion of items in computing gross income; deductions from gross income; accounting and timing considerations; capital gains and losses; and the treatment of the family and gifts. Consideration will be given to the interaction of the legislative, executive, and judicial roles in the making, administering, and interpreting of the tax law; to the goals of the tax law and possibilities for future development of it; to the strategic behavior of taxpayers in response to the tax law; and to the impact of the tax law on private property transfers and other transactions. A principal goal of this course is also to teach students to analyze and apply a complex federal statute.
Unless waived by the instructor, Taxation is generally a pre-requisite for J.D. students in the advanced tax courses.