Courses 2009 - 2010

Offered: Not offered this academic year
Credits: 2

This course introduces fundamental concepts in federal income taxation including the definition of income, the computation of tax liability, exclusions from income, basis, deductions available for individuals in computing taxable income, and assignment of income. The course will also present brief overviews of concepts explored in more detail in other courses, including capital gains and losses and timing issues. Students who have completed no prior course work in federal income taxation in the past five academic years and who have no professional tax experience must take the course for a grade. All other students may take the course only on a credit/no credit basis. Final grades will be based upon an in-class examination. (Not offered 2009-2010 academic year.)