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LAW-2983 Federal Taxation of Property Transactions
Prof. William T. Corbett,
4 credits day; 4 credits evening.
This course, together with Basic Income Taxation, will provide students with a thorough and in
depth exposure to fundamental income tax concepts. This course is recommended to students
who are considering specializing in tax law or in any commercial or business planning area. The
course will begin with a review of capital gains and losses and holding period. It will then cover
sales of business property and other transactions covered under section 1231, depreciation
recapture from transfers of real and personal property, gains and losses from sales between
related parties, bad debts, worthless securities, charitable contributions, personal casualty losses,
installment sales, property transfers in connection with the performance of services, incentive
stock options, original issue discount and unstated interest, section 1031 like kind exchanges,
involuntary conversions under section 1033, passive activity losses, section 465 at risk rules,
activities not engaged in for profit, restriction on deductions for vacation rental and other
business uses of a home, and the tax consequences of below market rate loans.
Elective Course
Final Exam Required
<<Course Updated: November 03, 2015>>