Cover

Title Page

About the Author

Notices

About CALI eLangdell Press

Preface

Table of Cases

Chapter 1: The Government Raises Money: Introduction to Some Basic Concepts of Taxes and Taxing Income

I. Introduction to Some Basic Concepts

II. Taxing Income

III. Some Definitions

IV. Layout of the Code

V. Not All Income Is Taxed Alike

VI. Illustration of the Tax Formula

VII. Statements of Tax Law and the Role of Courts

VIII. Some Income Tax Policy and Some Income Tax Principles

IX. What We Tax: What Is Income?

Wrap-up Questions for Chapter 1

What have you learned?

Chapter 2: What Is Gross Income: Section 61 and the Sixteenth Amendment

I. The Constitutional and Statutory Definitions of “Gross Income”

II. The Constitutional and Statutory Definitions of “Gross Income:” Accessions to Wealth

III. The Constitutional and Statutory Definitions of “Gross Income:” Realization

IV. The Constitutional and Statutory Definitions of “Gross Income:” Dominion and Control

Wrap-up Questions for Chapter 2

What have you learned?

Chapter 3: Exclusions from Gross Income

I. The Society and Government that We Want

II. Social Benefits

III. Employment-Based Exclusions from Gross Income

Wrap-up Questions for Chapter 3

What have you learned?

Chapter 4: Loans and Cancellation of Indebtedness

I. Tax Consequences of Borrowing Money

II. Cancellation of Indebtedness

III. Is It a Loan? Is There an Accession to Wealth?

IV. Section 108(a)’s Other Provisions

V. Transactions Involving Property Subject to a Loan

VI. Transactions Treated as Loans

Wrap-up Questions for Chapter 4

What have you learned?

Chapter 5: Progressivity and Assignment of Income

I. Compensation for Services

II. Income Splitting: the Joint Return

III. Income Derived from Property

IV. Interest Free Loans and Unstated Interest

Wrap-Up Questions for Chapter 5

What have you learned?

Chapter 6: Deductions: Business Expenses

I. Expense or Capital

II. Deductibility Under §§ 162 or 212

III. Depreciation, Amortization, and Cost Recovery

Wrap-Up Questions for Chapter 6

What have you learned?

Chapter 7: Personal Deductions and the Standard Deduction

I. “Tax Expenditures”

II. Denial of Discretion in Choosing How or What to Consume

III. Creating a More Efficient and Productive Economy

IV. Deferral Until Consumption

Wrap-Up Questions for Chapter 7

What have you learned?

Chapter 8: Tax Consequences of Divorce and Intra-Family Transactions

I. Introduction

II. Before Marriage

III. During Marriage

IV. After Marriage: Tax Consequences of Divorce

Wrap-Up Questions for Chapter 8

What have you learned?

Chapter 9: Timing of Income and Deductions: Annual Accounting and Accounting Principles

I. Annual Accounting

II. Deferral Mechanisms

III. Basic Accounting Rules

Wrap-Up Questions for Chapter 9

What have you learned?

Chapter 10: Character of Income and Computation of Tax

I. Capital Gain

II. Sections 1245 and 1250: Depreciation Recapture

III. Section 1231: Some Limited Mismatching

IV. More Matching

Wrap-Up Questions for Chapter 10

What have you learned?

Notes