Solution Manual for Pearson’s Federal Taxation 2019 Corporations, Partnerships, Estates and Trusts, 32nd Edition, Timothy J. Rupert, Kenneth E. Anderson

This is completed downloadable of Solution Manual for Pearson’s Federal Taxation 2019 Corporations, Partnerships, Estates and Trusts, 32nd Edition, Timothy J. Rupert, Kenneth E. Anderson

 

Product Details:

• ISBN-10 ‏ : ‎ 0134739698
• ISBN-13 ‏ : ‎ 978-0134739694
• Author: Timothy J. Rupert, Kenneth E. Anderson

The Rupert/Anderson series is unsurpassed in blending technical aspects of the most recent federal taxation mandates with maximum readability and relevance for students. Containing strong pedagogical tools that enable readers to apply tax principles within the text to real-life situations, and tax information from 2017 and early 2018,Pearson’s Federal Taxation 2019 Corporations, Partnerships, Estates & Trusts, 32nd Edition provides an up-to-date resource and better teaching and learning experience — for instructors and students.

 

Table of Content:

1. Instructor Teaching Resources
2. Chapter 1 Tax Research
3. Learning Objectives
4. Chapter Outline
5. Overview of Tax Research
6. Objective 1
7. Steps in the Tax Research Process
8. Objective 2
9. Importance of the Facts to the Tax Consequences
10. Objective 3
11. Creating a Factual Situation Favorable to the Taxpayer
12. The Sources of Tax Law
13. Objective 4
14. The Legislative Process
15. The Internal Revenue Code
16. Treasury Regulations
17. Proposed, Temporary, and Final Regulations
18. Interpretative and Legislative Regulations
19. Authoritative Weight
20. Citations
21. Administrative Pronouncements
22. Revenue Rulings
23. Revenue Procedures
24. Letter Rulings
25. Other Interpretations
26. Technical Advice Memoranda
27. News Releases
28. Announcements and Notices
29. Judicial Decisions
30. Overview of the Court System
31. The U.S. Tax Court
32. Small Cases Procedure
33. Acquiescence Policy
34. Published Opinions and Citations
35. U.S. District Courts
36. U.S. Court of Federal Claims
37. Circuit Courts of Appeals
38. U.S. Supreme Court
39. Precedential Value of Various Decisions
40. Tax Court
41. U.S. District Court
42. U.S. Court of Federal Claims
43. Circuit Courts of Appeals
44. Forum Shopping
45. Dictum
46. Tax Treaties
47. Tax Periodicals
48. Tax Services
49. Objective 5
50. The Internet as a Research Tool
51. Objective 6
52. Keyword Searches
53. Search by Citation
54. Noncommercial Internet Services
55. Citators
56. Objective 7
57. Using the Citator
58. Professional Guidelines for Tax Services
59. Objective 8
60. Treasury Department Circular 230
61. AICPA’s Statements on Tax Standards
62. Sample Work Papers and Client Letter
63. Objective 9
64. Problem Materials
65. Discussion Questions
66. Problems
67. Comprehensive Problem
68. Tax Strategy Problem
69. Case Study Problem
70. Tax Research Problems
71. Chapter 2 Corporate Formations and Capital Structure
72. Learning Objectives
73. Chapter Outline
74. Organization Forms Available
75. Objective 1
76. Sole Proprietorships
77. Tax Advantages
78. Tax Disadvantages
79. Partnerships
80. Tax Advantages
81. Tax Disadvantages
82. Corporations
83. C Corporations
84. Tax Advantages
85. Tax Disadvantages
86. S Corporations
87. Tax Advantages
88. Tax Disadvantages
89. Limited Liability Companies
90. Limited Liability Partnerships
91. Check-the-Box Regulations
92. Objective 2
93. Legal Requirements and Tax Considerations Related to Forming a Corporation
94. Objective 3
95. Legal Requirements
96. Tax Considerations
97. Section 351: Deferring Gain or Loss Upon Incorporation
98. Objective 4
99. The Property Requirement
100. The Control Requirement
101. Transferors of Both Property and Services
102. Transfers to Existing Corporations
103. Disproportionate Exchanges of Property and Stock
104. Immediately After the Exchange
105. The Stock Requirement
106. Effect of Sec. 351 on the Transferors
107. Receipt of Boot
108. Computing Gain When Several Assets Are Transferred
109. Computing a Shareholder’s Basis
110. Boot Property
111. Stock
112. Transferor’s Holding Period
113. Tax Consequences to Transferee Corporation
114. Gain or Loss Recognized by the Transferee Corporation
115. Transferee Corporation’s Basis for Property Received
116. Reduction for Loss Property
117. Assumption of the Transferor’s Liabilities
118. General Rule—Sec. 357(a)
119. Tax Avoidance or No Bona Fide Business Purpose—Sec. 357(b)
120. Liabilities in Excess of Basis—Sec. 357(c)
121. Liabilities of a Cash Method Taxpayer—Sec. 357(c)(3)
122. Other Considerations in a Sec. 351 Exchange
123. Recapture of Depreciation
124. Computing Depreciation
125. Assignment of Income Doctrine
126. Choice of Capital Structure
127. Objective 5
128. Characterization of Obligations as Debt or Equity
129. Debt Capital
130. Issuance of Debt
131. Payment of Interest
132. Extinguishment of Debt
133. Equity Capital
134. Capital Contributions by Shareholders
135. Capital Contributions by Nonshareholders
136. Worthlessness of Stock or Debt Obligations
137. Objective 6
138. Securities
139. Unsecured Debt Obligations
140. Tax Planning Considerations
141. Objective 7
142. Avoiding Sec. 351
143. Avoiding Nonrecognition of Losses Under Sec. 351
144. Avoiding Nonrecognition of Gain Under Sec. 351
145. Compliance and Procedural Considerations
146. Objective 8
147. Reporting Requirements Under Sec. 351
148. Problem Materials
149. Discussion Questions
150. Issue Identification Questions
151. Problems
152. Comprehensive Problems
153. Tax Strategy Problems
154. Case Study Problems
155. Tax Research Problems
156. Chapter 3 The Corporate Income Tax
157. Learning Objectives
158. Chapter Outline
159. Corporate Elections
160. Objective 1
161. Choosing a Calendar or Fiscal Year
162. Short Tax Period
163. Restrictions on Adopting a Tax Year
164. Changing the Annual Accounting Period
165. Accounting Methods
166. Accrual Method
167. Cash Method
168. Hybrid Method
169. Determining a Corporation’s Taxable Income and Tax Liability
170. Objective 2
171. Corporate Tax Rate
172. Sales and Exchanges of Property
173. Capital Gains and Losses
174. Net Capital Gain
175. Net Capital Losses
176. Sec. 291: Tax Benefit Recapture Rule
177. Business Expenses
178. Organizational Expenditures
179. Start-Up Expenditures
180. Limitation on Deductions for Accrued Compensation
181. Limitation on Net Business Interest
182. Entertainment Expenses
183. Executive Compensation
184. Charitable Contributions
185. Timing of the Deduction
186. Deducting Contributions of Nonmonetary Property
187. Substantiation Requirements
188. Maximum Deduction Permitted
189. Special Deductions
190. Dividends-Received Deduction
191. General Rule for Dividends-Received Deduction
192. Limitation on Dividends-Received Deduction
193. Exception to the Limitation
194. Members of an Affiliated Group
195. Dividends Received from Foreign Corporations
196. Stock Held 45 Days or Less
197. Debt-Financed Stock
198. Net Operating Losses (NOLs)
199. Sequencing the Deduction Calculations
200. Exceptions for Closely Held Corporations
201. Transactions Between a Corporation and Its Shareholders
202. Gains on Sale or Exchange Transactions
203. Losses on Sale or Exchange Transactions
204. Corporation and Controlling Shareholder Using Different Accounting Methods
205. Loss Limitation Rules
206. At-Risk Rules
207. Passive Activity Limitation Rules
208. Controlled Groups of Corporations
209. Objective 3
210. What is a Controlled Group?
211. Parent-Subsidiary Controlled Groups
212. Brother-Sister Controlled Groups
213. Combined Controlled Groups
214. Application of the Controlled Group Test
215. Special Rules Applying to Controlled Groups
216. Consolidated Tax Returns
217. Who Can File a Consolidated Return
218. Advantages of Filing a Consolidated Return
219. Disadvantages of Filing a Consolidated Return
220. Tax Planning Considerations
221. Objective 4
222. Compensation Planning for Shareholder-Employees
223. Advantage of Salary Payments
224. Advantage of Fringe Benefits
225. Compliance and Procedural Considerations
226. Objective 5
227. Estimated Taxes
228. Estimated Tax Payment Dates
229. Penalties for Underpayment of Estimated Tax
230. Special Computation Methods
231. The Annualized Income Method
232. Adjusted Seasonal Income Method
233. Reporting the Underpayment
234. Paying the Remaining Tax Liability
235. Requirements for Filing and Paying Taxes
236. When the Return Must be Filed
237. Tax Return Schedules
238. Schedule L (of Form 1120): The Balance Sheet
239. Reconciliation Schedules
240. Book-Tax Differences
241. Schedule M-1 (of Form 1120)
242. Schedule M-3 (of Form 1120)
243. Schedule M-2 (of Form 1120)
244. Financial Statement Implications
245. Objective 6
246. Scope, Objectives, and Principles of ASC 740
247. Temporary Differences
248. Deferred Tax Assets and the Valuation Allowance
249. Accounting for Uncertain Tax Positions
250. Balance Sheet Classification
251. Tax Provision Process
252. Comprehensive Example – Year 1
253. Comprehensive Example – Year 2
254. Other Transactions
255. Problem Materials
256. Discussion Questions
257. Issue Identification Questions
258. Problems
259. Comprehensive Problem
260. Tax Strategy Problem
261. Tax Form/Return Preparation Problems
262. Case Study Problems
263. Tax Research Problems
264. Chapter 4 Corporate Nonliquidating Distributions
265. Learning Objectives
266. Chapter Outline
267. Nonliquidating Distributions in General
268. Objective 1
269. Earnings and Profits (E&P)
270. Objective 2
271. Current Earnings and Profits
272. Computing Current E&P
273. Income Excluded from Taxable Income but Included in E&P
274. Income Deferred to a Later Year When Computing Taxable Income but Included in E&P in the Current Year
275. Income and Deduction Items That Must Be Recomputed for E&P Purposes
276. Deductions Allowed for Taxable Income Purposes but Denied for E&P Purposes
277. Expenses and Losses Denied for Taxable Income Purposes but Allowed for E&P Purposes
278. Distinction Between Current and Accumulated E&P
279. Nonliquidating Property Distributions
280. Objective 3
281. Consequences of Nonliquidating Property Distributions to the Shareholders
282. Consequences of Property Distributions to The Distributing Corporation
283. Corporate Gain or Loss on Property Distributions
284. Effect of Property Distributions on the Distributing Corporation’s E&P
285. Constructive Dividends
286. Intentional Efforts to Avoid Dividend Treatment
287. Unintentional Constructive Dividends
288. Loans to Shareholders
289. Excessive Compensation Paid to Shareholder-Employees
290. Insufficient Salary Amounts
291. Excessive Compensation Paid to Shareholders for the Use of Shareholder Property
292. Corporate Payments for the Shareholder’s Benefit
293. Bargain Purchase of Corporate Property
294. Shareholder Use of Corporate Property
295. Stock Dividends and Stock Rights
296. Objective 4
297. Nontaxable Stock Dividends
298. Nontaxable Stock Rights
299. Effect of Nontaxable Stock Dividends on the Distributing Corporation
300. Taxable Stock Dividends and Stock Rights
301. Stock Redemptions
302. Objective 5
303. Tax Consequences of the Redemption to the Shareholder
304. Attribution Rules
305. Family Attribution
306. Attribution from Entities
307. Attribution to Entities
308. Option Attribution
309. Substantially Disproportionate Redemptions
310. Complete Termination of the Shareholder’s Interest
311. Redemptions not Essentially Equivalent to a Dividend
312. Partial Liquidations
313. Determination Made at the Corporate Level
314. Safe Harbor Rule
315. Tax Consequences of a Partial Liquidation to the Shareholders
316. Redemptions to Pay Death Taxes
317. Effect of Redemptions on the Distributing Corporation
318. Corporate Gain or Loss on Property Distributions
319. Effect of Redemptions on E&P
320. Preferred Stock Bailouts
321. Objective 6
322. Sec. 306 Stock Defined
323. Dispositions of Sec. 306 Stock
324. Redemptions of Sec. 306 Stock
325. Exceptions to Sec. 306 Treatment
326. Stock Redemptions by Related Corporations
327. Objective 7
328. Brother-Sister Corporations
329. Redemption Treated as a Distribution
330. Redemption Treated as a Sale
331. Parent-Subsidiary Corporations
332. Redemption Treated as a Dividend
333. Redemption Treated as a Sale
334. Tax Planning Considerations
335. Objective 8
336. Avoiding Unreasonable Compensation
337. Bootstrap Acquisitions
338. Timing of Distributions
339. Compliance and Procedural Considerations
340. Objective 9
341. Corporate Reporting of Nondividend Distributions
342. Agreement to Terminate Interest Under Sec. 302(b)(3)
343. Problem Materials
344. Discussion Questions
345. Issue Identification Questions
346. Problems
347. Comprehensive Problem
348. Tax Strategy Problem
349. Case Study Problems
350. Tax Research Problems
351. Chapter 5 Other Corporate Tax Levies
352. Learning Objectives
353. Chapter Outline
354. Use of C Corporation to Avoid Income Taxes
355. Objective  1
356. Personal Holding Company Tax
357. Objective 2
358. Personal Holding Company Defined
359. Stock Ownership Requirement
360. Passive Income Requirement
361. Adjusted Ordinary Gross Income Defined
362. Reduction by Rental Income Expenses
363. Personal Holding Company Income Defined
364. Exclusion for Rents
365. Exclusion for Personal Service Contracts
366. Calculating the PHC Tax
367. Calculating UPHCI
368. Positive Adjustments to Taxable Income
369. Negative Adjustments to Taxable Income
370. Avoiding the PHC Designation and Tax Liability by Making Dividend Distributions
371. PHC Tax Calculation
372. Accumulated Earnings Tax
373. Objective 3
374. Corporations Subject to The Penalty Tax
375. Proving a Tax-Avoidance Purpose
376. Evidence Concerning the Reasonableness of an Earnings Accumulation
377. Evidence of a Tax-Avoidance Purpose
378. Reasonable Needs of the Business
379. Reasonably Anticipated Needs of the Business
380. Need for Accumulation
381. Specific, Definite, and Feasible Plans
382. No Specific Time Limitations
383. Impact of Subsequent Events
384. Working Capital: The Bardahl Formula
385. Calculating the Accumulated Earnings Tax
386. Accumulated Taxable Income
387. Positive Adjustments to Regular Taxable Income
388. Negative Adjustments to Taxable Income
389. Dividends-Paid Deduction
390. Accumulated Earnings Credit
391. Comprehensive Example
392. Tax Planning Considerations
393. Objective 4
394. Avoiding the Personal Holding Company Tax
395. Changes in the Corporation’s Stock Ownership
396. Changing the Amount and Type of Income Earned by the Corporation
397. Dividend Distributions
398. Making an S Corporation Election
399. Liquidating the Corporation
400. Avoiding the Accumulated Earnings Tax
401. Compliance and Procedural Considerations
402. Objective 5
403. Personal Holding Company Tax
404. Filing Requirements for Tax Returns
405. Payment of the Tax, Interest, and Penalties
406. Accumulated Earnings Tax
407. Problem Materials
408. Discussion Questions
409. Issue Identification Questions
410. Problems
411. Comprehensive Problem
412. Tax Strategy Problems
413. Case Study Problems
414. Tax Research Problems
415. Chapter 6 Corporate Liquidating Distributions
416. Learning Objectives
417. Chapter Outline
418. Overview of Corporate Liquidations
419. Objective 1
420. The Shareholder
421. The Corporation
422. Definition of a Complete Liquidation
423. General Liquidation Rules
424. Objective 2
425. Effects of Liquidating on the Shareholders
426. Amount of Recognized Gain or Loss
427. Impact of Accounting Method
428. When Stock Is Acquired
429. Character of the Recognized Gain or Loss
430. Basis and Holding Period of Property Received in the Liquidation
431. Effects of Liquidating on the Liquidating Corporation
432. Recognition of Gain or Loss When Corporation Distributes Property in Redemption of Stock
433. Liabilities Assumed or Acquired by the Shareholders
434. Exceptions to the General Gain or Loss Recognition Rule
435. Distributions to Related Persons
436. Sales Having a Tax-Avoidance Purpose
437. Liquidation of a Controlled Subsidiary
438. Objective 3
439. Overview
440. Requirements
441. Stock Ownership
442. Cancellation of the Stock
443. Timing of the Distributions
444. Effects of Liquidating on the Shareholders
445. Recognition of Gain or Loss to Parent Corporation
446. Treatment of Minority Shareholders
447. Basis of Property Received
448. Effects of Liquidating on the Subsidiary Corporation
449. Recognition of Gain or Loss
450. Tax Attribute Carryovers
451. Special Reporting Issues
452. Objective 4
453. Pertaining to Shareholders
454. Partially Liquidating Distributions
455. Subsequent Assessments
456. Open Versus Closed Transactions
457. Installment Obligations
458. Pertaining to the Liquidating Corporation
459. Expenses of the Liquidation
460. Treatment of Net Operating Losses
461. Recognition of Gain or Loss When Property is Distributed in Retirement of Debt
462. Objective 5
463. General Rule
464. Satisfaction of the Subsidiary’s Debt Obligations
465. Tax Planning Considerations
466. Objective 6
467. Timing the Liquidation Transaction
468. Recognition of Ordinary Losses when a Liquidation Occurs
469. Obtaining 80% Ownership to Achieve Sec. 332 Benefits
470. Avoiding Sec. 332 to Recognize Losses
471. Compliance and Procedural Considerations
472. Objective 7
473. General Liquidation Procedures
474. Section 332 Liquidations
475. Plan of Liquidation
476. Problem Materials
477. Discussion Questions
478. Issue Identification Questions
479. Problems
480. Comprehensive Problem
481. Tax Strategy Problems
482. Case Study Problems
483. Tax Research Problems
484. Chapter 7 Corporate Acquisitions and Reorganizations
485. Learning Objectives
486. Chapter Outline
487. Taxable Acquisition Transactions
488. Objective 1
489. Asset Acquisitions
490. Stock Acquisitions
491. Stock Acquisition with No Liquidation
492. Stock Acquisition Followed by a Liquidation
493. Section 338 Deemed Sale Election
494. Eligible Stock Acquisitions
495. The Election
496. Deemed Sale Transaction
497. Tax Basis of the Assets After the Deemed Sale
498. Allocation of Basis to Individual Assets
499. Section 336(e) Deemed Sale Election
500. Comparison of Taxable and Nontaxable Acquisitions
501. Objective 2
502. Taxable and Nontaxable Asset Acquisitions
503. Tax Consequences to the Target Corporation
504. Tax Consequences to the Acquiring Corporation
505. Tax Consequences to the Target Corporation Shareholders
506. Accounting for the Acquisition
507. Comparison of Taxable and Nontaxable Stock Acquisitions
508. Tax Consequences to the Target Corporation
509. Tax Consequences to the Acquiring Corporation
510. Tax Consequences to the Target Corporation Shareholders
511. Types of Reorganizations and Their Tax Consequences
512. Objective 3
513. The Target or Transferor Corporation
514. Recognition of Gain or Loss on Asset Transfer
515. Depreciation Recapture
516. Assumption of Liabilities
517. Recognition of Gain or Loss on Distribution of Stock and Securities
518. The Acquiring or Transferee Corporation
519. Amount of Gain or Loss Recognized
520. Basis of Acquired Property
521. Holding Period of Acquired Property
522. Shareholders and Security Holders
523. Amount of Gain or Loss Recognized
524. Character of the Recognized Gain
525. Basis of Stock and Securities Received
526. Holding Period
527. Acquisitive Reorganizations
528. Objective 4
529. Type a Reorganization
530. Merger or Consolidation
531. Requirements for Mergers and Consolidations
532. Advantages and Disadvantages of a Type A Reorganization
533. Tax Consequences of a Merger
534. Drop-Down Type A Reorganization
535. Triangular Mergers
536. The “Substantially All” Requirement
537. Advantages of a Triangular Merger
538. Reverse Triangular Mergers
539. Type C Reorganization
540. Consideration Used to Effect the Reorganization
541. Advantages and Disadvantages of a Type C Reorganization
542. Tax Consequences of a Type C Reorganization
543. Drop-Down and Triangular Type C Reorganizations
544. Type D Reorganization
545. Control Requirements
546. Tax Consequences of a Type D Reorganization
547. Type B Reorganization
548. Solely-for-Voting-Stock Requirement
549. Exceptions
550. Control
551. Timing of the Transaction
552. Tax Consequences of a Type B Reorganization
553. Advantages of a Type B Reorganization
554. Disadvantages of a Type B Reorganization
555. Drop-Down and Triangular Type B Reorganizations
556. Type G Reorganization
557. Divisive Reorganizations
558. Objective 5
559. Divisive Type D Reorganization
560. Forms of Divisive Type D Reorganizations
561. Asset Transfer
562. Distribution of Stock and Securities
563. The Sec. 355 Requirements
564. Divisive Type G Reorganization
565. Other Reorganizations
566. Objective 6
567. Type E Reorganization
568. Stock-for-Stock Exchange
569. Bond-for-Stock Exchange
570. Bond-for-Bond Exchange
571. Type F Reorganization
572. Judicial Restrictions on the Use of Corporate Reorganizations
573. Objective 7
574. Continuity of Interest
575. Continuity of Business Enterprise
576. Business Purpose Requirement
577. Step Transaction Doctrine
578. Tax Attributes
579. Objective 8
580. Assumption of Tax Attributes
581. Limitation on Use of Tax Attributes
582. Section 382
583. Stock Ownership Change
584. Loss Limitation
585. Section 383
586. Section 384
587. Section 269
588. Tax Planning Considerations
589. Objective 9
590. Why Use a Reorganization Instead of a Taxable Transaction?
591. Avoiding the Reorganization Provisions
592. Compliance and Procedural Considerations
593. Objective 10
594. Section 338 Election
595. Plan of Reorganization
596. Party to a Reorganization
597. Ruling Requests
598. Financial Statement Implications
599. Objective 11
600. Taxable Asset Acquisition
601. Nontaxable Asset Acquisition
602. Stock Acquisition
603. Pricing The Acquisition
604. Net Operating Losses
605. Problem Materials
606. Discussion Questions
607. Issue Identification Questions
608. Problems
609. Comprehensive Problem
610. Tax Strategy Problems
611. Case Study Problems
612. Tax Research Problems
613. Chapter 8 Consolidated Tax Returns
614. Learning Objectives
615. Chapter Outline
616. Definition of an Affiliated Group
617. Objective 1
618. Requirements
619. Stock Ownership Requirements
620. Includible Corporation Requirement
621. Comparison with Controlled Group Definitions
622. Consolidated Tax Return Election
623. Objective 2
624. Consolidated Return Regulations
625. Terminology
626. Termination of Consolidated Tax Return Filing
627. Termination of the Affiliated Group
628. Good Cause Request to Discontinue Consolidation
629. Effects on Former Members
630. Consolidated Taxable Income
631. Objective 3
632. Accounting Periods and Methods
633. Accounting Periods
634. Accounting Methods
635. Income Included in the Consolidated Tax Return
636. Calculation of Consolidated Taxable Income and Tax
637. Intercompany Transactions
638. Objective 4
639. Basic Concepts
640. Matching and Acceleration Rules
641. Matching Rule
642. Acceleration Rule
643. Applications of Matching and Acceleration Rules
644. Installment Sale of Property from Buyer to Third Party
645. Performance of Services
646. Intercompany Sale of Inventory
647. Relevance of Matching and Acceleration Rules
648. Items Computed on a Consolidated Basis
649. Objective 5
650. Charitable Contribution Deduction
651. Net Sec. 1231 Gain or Loss
652. Capital Gains and Losses
653. Departing Group Members’ Capital Losses
654. SRLY Limitation
655. Dividends-Received Deduction
656. Dividends Received from Non-Group Members
657. Dividends Received from Group Members
658. Regular Tax Liability
659. Tax Credits
660. General Business Credit
661. Foreign Tax Credit
662. Estimated Tax Payments
663. Large Corporation Rule
664. Consolidated or Separate Basis
665. Short-Period Return
666. Net Operating Losses (NOLs)
667. Objective 6
668. Current Year NOL
669. Carryovers of Consolidated NOLs
670. General Rule
671. Special Loss Limitations
672. Separate Return Limitation Year Rules
673. Consolidated Sec. 382 Rules
674. SRLY-Sec. 382 Overlap
675. Stock Basis Adjustments
676. Objective 7
677. Tiering up of Stock Basis Adjustments
678. Excess Loss Account
679. Tax Planning Considerations
680. Objective 8
681. Advantages of Filing a Consolidated Tax Return
682. Disadvantages of Filing a Consolidated Tax Return
683. Compliance and Procedural Considerations
684. Objective 9
685. The Basic Election and Return
686. Parent Corporation as Agent for the Consolidated Group
687. Separate Entity Treatment of Intercompany Transactions
688. Liability for Taxes Due
689. Financial Statement Implications
690. Objective 10
691. Intercompany Transactions
692. SRLY Losses
693. Problem Materials
694. Discussion Questions
695. Issue Identification Questions
696. Problems
697. Comprehensive Problems
698. Tax Strategy Problem
699. Tax Form/Return Preparation Problem
700. Case Study Problem
701. Tax Research Problems
702. Chapter 9 Partnership Formation and Operation
703. Learning Objectives
704. Chapter Outline
705. Definition of a Partnership
706. Objective 1
707. General and Limited Partnerships
708. General Partnerships
709. Limited Partnerships
710. Limited Liability Limited Partnerships (LLLPs)
711. Limited Liability Companies (LLCs)
712. Limited Liability Partnerships (LLPs)
713. Overview of Taxation of Partnership Income
714. Objective 2
715. Partnership Profits and Losses
716. The Partner’s Basis
717. Partnership Distributions
718. Tax Implications of Formation of a Partnership
719. Objective 3
720. Contribution of Property
721. Nonrecognition of Gain or Loss
722. Recognition of Gain or Loss
723. Effects of Liabilities
724. Partner’s Basis in the Partnership Interest (Commonly Called Outside Basis)
725. Holding Period for Partnership Interest
726. Partnership’s Basis in Property
727. Unrealized Receivables
728. Inventory
729. Capital Loss Property
730. Partnership’s Holding Period
731. Section 1245 and 1250 Property Rules
732. Contribution of Property After Formation
733. Contribution of Services
734. Consequences to the Partnership
735. Allocating the Expense Deduction
736. Partnership Gain or Loss
737. Organizational and Syndication Expenditures
738. Partnership Elections
739. Objective 4
740. Partnership Tax Year
741. Section 706 Restrictions
742. Other Partnership Elections
743. Partnership Reporting of Income
744. Objective 5
745. Partnership Taxable Income
746. Separately Stated Items
747. Partnership Ordinary Income
748. Special Deductions and Limitations
749. Qualified Business Income Deduction
750. Limitation on Net Business Interest
751. Partner Reporting of Income
752. Objective 6
753. Partner’s Distributive Share
754. Partnership Agreement
755. Varying Interest Rule
756. Special Allocations
757. Allocations Related to Contributed Property
758. Substantial Economic Effect
759. Basis for Partnership Interest
760. Objective 7
761. Beginning Basis
762. Effects of Liabilities
763. Increases and Decreases in Liabilities
764. A Partner’s Share of Liabilities
765. Recourse and Nonrecourse Loans
766. General and Limited Partners
767. Effects of Operations
768. Loss Limitation Pertaining to Outside Basis
769. Special Loss Limitations
770. Objective 8
771. At-Risk Loss Limitation
772. Passive Activity Limitations
773. Limitation on Excess Business Losses
774. Transactions Between a Partner and the Partnership
775. Objective 9
776. Sales of Property
777. Loss Sales
778. Gain Sales
779. Guaranteed Payments
780. Determining the Guaranteed Payment
781. Tax Impact of Guaranteed Payments
782. Family Partnerships
783. Objective 10
784. Capital Ownership
785. Donor Retained Control
786. Minor Donees
787. Donor-Donee Allocations of Income
788. Tax Planning Considerations
789. Objective 11
790. Timing of Loss Recognition
791. Guaranteed Payments
792. Compliance and Procedural Considerations
793. Objective 12
794. Reporting to the IRS and the Partners
795. Forms
796. Schedule M-3
797. Section 444 Election and Required Payments
798. Estimated Taxes
799. Self-Employment Income
800. IRS Audit Procedures
801. Problem Materials
802. Discussion Questions
803. Issue Identification Questions
804. Problems
805. Comprehensive Problems
806. Tax Strategy Problem
807. Tax Form/Return Preparation Problems
808. Case Study Problems
809. Tax Research Problems
810. Chapter 10 Special Partnership Issues
811. Learning Objectives
812. Chapter Outline
813. Nonliquidating Distributions
814. Objective 1
815. Recognition of Gain
816. Basis Effects of Distributions
817. Holding Period and Character of Distributed Property
818. Nonliquidating Distributions with Sec. 751
819. Objective 2
820. Section 751 Assets Defined
821. Unrealized Receivables
822. Inventory
823. Exchange of Sec. 751 Assets and Other Property
824. Liquidating or Selling a Partnership Interest
825. Objective 3
826. Liquidating Distributions
827. Gain or Loss Recognition by the Partner
828. Basis in Assets Received
829. Holding Period in Distributed Assets
830. Effects of Sec. 751
831. Effects of Distribution on the Partnership
832. Sale of a Partnership Interest
833. Section 751 Property
834. Liabilities
835. Impact on the Partnership
836. Other Partnership Termination Issues
837. Objective 4
838. Retirement or Death of a Partner
839. Payments for Partnership Property
840. Other Payments
841. Exchange of a Partnership interest
842. Exchange for Another Partnership Interest
843. Exchange for Corporate Stock
844. Incorporation
845. Formation of an LLC, LLP, or LLLP
846. Income Recognition and Transfers of a Partnership Interest
847. Termination of a Partnership
848. Events Causing a Termination to Occur
849. No Business Operated as a Partnership
850. Effects of Termination
851. Importance of Timing
852. Liquidating Distributions and Contributions
853. Mergers and Consolidations
854. Division of a Partnership
855. Optional and Mandatory Basis Adjustments
856. Objective 5
857. Adjustments on Transfers
858. Optional Adjustment
859. Amount of the Adjustment
860. Mandatory Adjustment
861. Other Issues
862. Adjustments on Distributions
863. Optional Adjustment
864. Mandatory Adjustment
865. Special Forms of Partnerships
866. Objective 6
867. Tax Shelters and Limited Partnerships
868. Publicly Traded Partnerships
869. Limited Liability Companies
870. Limited Liability Partnerships
871. Limited Liability Limited Partnership
872. Tax Planning Considerations
873. Objective 7
874. Liquidating Distribution or Sale to Partners
875. Problem Materials
876. Discussion Questions
877. Issue Identification Questions
878. Problems
879. Comprehensive Problems
880. Tax Strategy Problem
881. Case Study Problem
882. Tax Research Problems
883. Chapter 11 S Corporations
884. Learning Objectives
885. Chapter Outline
886. Should an S Election Be Made?
887. Objective 1
888. Advantages of S Corporation Treatment
889. Disadvantages of S Corporation Treatment
890. S Corporation Requirements
891. Objective 2
892. Shareholder-Related Requirements
893. 100-Shareholder Rule
894. Eligible Shareholders
895. Alien Individuals
896. Corporation-Related Requirements
897. General Rules
898. Debt Instruments
899. Election of S Corporation Status
900. Objective 3
901. Making the Election
902. Consent of Shareholders
903. Termination of the Election
904. Revocation of the Election
905. Termination of the Election
906. Allocation of Income
907. Inadvertent Termination
908. Other IRS Waivers
909. New Election Following a Termination
910. Avoiding Termination of an S Election
911. S Corporation Operations
912. Objective 4
913. Taxable Year
914. Accounting Method Elections
915. Ordinary Income or Loss and Separately Stated Items
916. Deductions That Cannot Be Claimed
917. Similarity to C Corporation Treatment
918. Carryovers When Status Changes
919. Special S Corporation Taxes
920. Excess Net Passive Income Tax
921. Built-in Gains Tax
922. LIFO Recapture Tax
923. Taxation of the Shareholder
924. Objective 5
925. Income Allocation Procedures
926. Income Pass-Though To Shareholders
927. Loss and Deduction Pass-Through to Shareholders
928. Allocation of the Loss
929. Shareholder Loss Limitations
930. Special Shareholder Loss and Deduction Limitations
931. Post-Termination Loss Carryovers
932. Family S Corporations
933. Basis Adjustments
934. Objective 6
935. Basis Adjustments to S Corporation Stock
936. Basis Adjustments to Shareholder Debt
937. S Corporation Distributions
938. Objective 7
939. Corporations Having No Earnings and Profits
940. Corporations Having Accumulated Earnings and Profits
941. Prior Rules
942. Current Rules
943. Money Distributions
944. Property Distributions
945. Distribution Ordering Elections
946. Post-Termination Transition Period
947. Other Rules
948. Objective 8
949. Tax Preference Items and Other AMT Adjustments
950. Transactions Involving Shareholders and Other Related Parties
951. Fringe Benefits Paid to a Shareholder-Employee
952. Tax Planning Considerations
953. Objective 9
954. Election to Allocate Income Based on the S Corporation’s Accounting Methods
955. Increasing the Benefits from S Corporation Losses
956. Salary Levels
957. Passive Income Requirements
958. Compliance and Procedural Considerations
959. Objective 10
960. Making the Election
961. Filing the Corporate Tax Return
962. Estimated Tax Payments
963. Consistency Rules
964. Sample S Corporation Tax Return
965. Problem Materials
966. Discussion Questions
967. Issue Identification Questions
968. Problems
969. Comprehensive Problems
970. Tax Strategy Problems
971. Tax Form/Return Preparation Problems
972. Case Study Problem
973. Tax Research Problems
974. Chapter 12 The Gift Tax
975. Learning Objectives
976. Chapter Outline
977. The Unified Transfer Tax System
978. Objective 1
979. History and Purpose of Transfer Taxes
980. Unified Rate Schedule
981. Impact of Taxable Gifts on Death Tax Base
982. Unified Credit
983. Gift Tax Formula
984. Objective 2
985. Determination of Gifts
986. Exclusions and Deductions
987. Gift-Splitting Election
988. Cumulative Nature of Gift Tax
989. Unified Credit
990. Transfers Subject to the Gift Tax
991. Objective 3
992. Transfers for Inadequate Consideration
993. Bargain Sales
994. Transfers in Normal Course of Business
995. Statutory Exemptions from the Gift Tax
996. Payment of Medical Expenses or Tuition
997. Transfers to Political Organizations
998. Property Settlements in Conjunction with Divorce
999. Qualified Disclaimers
1000. Cessation of Donor’s Dominion and Control
1001. Revocable Trusts
1002. Other Retained Powers
1003. Valuation of Gifts
1004. General Rules
1005. Life Estates and Remainder Interests
1006. Special Valuation Rules: Estate Freezes
1007. Gift Tax Consequences of Certain Transfers
1008. Creation of Joint Bank Accounts
1009. Creation of Other Joint Tenancies
1010. Transfer of Life Insurance Policies
1011. Exercise of a General Power of Appointment
1012. Net Gifts
1013. Exclusions
1014. Objective 4
1015. Amount of the Exclusion
1016. Present Interest Requirement
1017. Definition of Present Interest
1018. Definition of Future Interest
1019. Special Rule for Trusts for Minors
1020. Crummey Trust
1021. Gift Tax Deductions
1022. Objective 5
1023. Marital Deduction
1024. Unlimited Amount
1025. Gifts of Terminable Interests: General Rule
1026. Nondeductible Terminable Interests
1027. QTIP Provisions
1028. Charitable Contribution Deduction
1029. Transfers Eligible for the Deduction
1030. Split-Interest Transfers
1031. The Gift-Splitting Election
1032. Objective 6
1033. Computation of the Gift Tax Liability
1034. Objective 7
1035. Effect of Previous Taxable Gifts
1036. Unified Credit Available
1037. Comprehensive Illustration
1038. Background Data
1039. Calculation of Tax Liability
1040. Basis Considerations for a Lifetime Giving Plan
1041. Objective 8
1042. Property Received by Gift
1043. Property Received at Death
1044. Below-Market Loans: Gift and Income Tax Consequences
1045. Objective 9
1046. General Rules
1047. De Minimis Rules
1048. Tax Planning Considerations
1049. Objective 10
1050. Tax-Saving Features of Inter Vivos Gifts
1051. Use of Annual Exclusion
1052. Removal of Post-Gift Appreciation from Tax Base
1053. Removal of Gift Tax Amount from Transfer Tax Base
1054. Income Shifting
1055. Gift in Contemplation of Donee-Spouse’s Death
1056. Lessening State Transfer Tax Costs
1057. Income Tax Savings from Charitable Gifts
1058. Negative Aspects of Gifts
1059. Loss of Step-Up in Basis
1060. Prepayment of Estate Tax
1061. Compliance and Procedural Considerations
1062. Objective 11
1063. Filing Requirements
1064. Due Date
1065. Gift-Splitting Election
1066. Liability for Tax
1067. Determination of Value
1068. Penalty for Undervaluation
1069. Statute of Limitations
1070. Problem Materials
1071. Discussion Questions
1072. Issue Identification Questions
1073. Problems
1074. Comprehensive Problem
1075. Tax Strategy Problems
1076. Tax Form/Return Preparation Problems
1077. Case Study Problems
1078. Tax Research Problems
1079. Chapter 13 The Estate Tax
1080. Learning Objectives
1081. Chapter Outline
1082. Estate Tax Formula
1083. Objective 1
1084. Gross Estate
1085. Deductions
1086. Adjusted Taxable Gifts and Tax Base
1087. Tentative Tax on Estate Tax Base
1088. Reduction for Post-1976 Gift Taxes
1089. Unified Credit
1090. The Gross Estate: Valuation
1091. Objective 2
1092. Date-of-Death Valuation
1093. Listed Stocks
1094. Interests in Firms Whose Stock Is Not Publicly Traded
1095. Real Estate
1096. Annuities, Interests for Life or a Term of Years, Reversions, Remainders
1097. Alternate Valuation Date
1098. The Gross Estate: Inclusions
1099. Objective 3
1100. Comparison of Gross Estate With Probate Estate
1101. Property in Which the Decedent had an Interest
1102. Dower or Curtesy Rights
1103. Transferor Provisions
1104. Gifts Made Within Three Years of Death
1105. Gross-Up Rule
1106. Transfers with Retained Life Estate
1107. Reversionary Interests
1108. Revocable Transfers
1109. Annuities and Other Retirement Benefits
1110. Annuities Not Related to Employment
1111. Employment-Related Retirement Benefits
1112. Jointly Owned Property
1113. Ownership Involving Persons Other than Spouses
1114. Ownership Involving Only Spouses
1115. General Powers of Appointment
1116. Life Insurance
1117. Consideration Offset
1118. Recipient Spouse’s Interest in QTIP Trust
1119. Deductions
1120. Objective 4
1121. Debts and Funeral and Administration Expenses
1122. Losses
1123. Charitable Contribution Deduction
1124. Computing the Deduction
1125. Split-Interest Transfers
1126. Marital Deduction
1127. Test 1: Inclusion in the Gross Estate
1128. Test 2: The Passing Requirement
1129. Test 3: The Terminable Interest Rule
1130. QTIP Transfers
1131. State Death Taxes
1132. Computation of Tax Liability
1133. Objective 5
1134. Taxable Estate and Tax Base
1135. Tentative Tax and Reduction for Post-1976 Gift Taxes
1136. Unified Credit
1137. Portability Between Spouses of Exemption Amount
1138. Other Credits
1139. Pre-2005 State Death Tax Credit
1140. Credit for Pre-1977 Gift Taxes
1141. Credit for Tax on Prior Transfers
1142. Foreign Death Tax Credit
1143. Comprehensive Illustration
1144. Background Data
1145. Calculation of Tax Liability
1146. Liquidity Concerns
1147. Objective 6
1148. Deferral of Payment of Estate Taxes
1149. Reasonable Cause
1150. Remainder or Reversionary Interests
1151. Interests in Closely Held Businesses
1152. Stock Redemptions to Pay Death Taxes
1153. Special Use Valuation of Farm Real Property
1154. Generation-Skipping Transfer Tax
1155. Objective 7
1156. Tax Planning Considerations
1157. Objective 8
1158. Use of Inter Vivos Gifts
1159. Use of Basic Exclusion Amount
1160. What Size Marital Deduction Is Best?
1161. Use of Disclaimers
1162. Role of Life Insurance
1163. Qualifying the Estate for Installment Payments
1164. Where to Deduct Administration Expenses
1165. Compliance and Procedural Considerations
1166. Objective 9
1167. Filing Requirements
1168. Due Date
1169. Valuation
1170. Election of Alternate Valuation Date
1171. Problem Materials
1172. Discussion Questions
1173. Issue Identification Questions
1174. Problems
1175. Comprehensive Problems
1176. Tax Strategy Problems
1177. Tax Form/Return Preparation Problems
1178. Case Study Problems
1179. Tax Research Problems
1180. Chapter 14 Income Taxation of Trusts and Estates
1181. Learning Objectives
1182. Chapter Outline
1183. Basic Concepts
1184. Objective 1
1185. Inception of Trusts
1186. Inception of Estates
1187. Reasons for Creating Trusts
1188. Tax Saving Aspects of Trusts
1189. Nontax Aspects of Trusts
1190. Basic Principles of Fiduciary Taxation
1191. Trusts and Estates as Separate Taxpayers
1192. No Double Taxation
1193. Conduit Approach
1194. Similarity to Rules for Individuals
1195. Principles of Fiduciary Accounting
1196. Objective 2
1197. The Importance of Identifying Income and Principal
1198. Principal and Income: The Uniform Act
1199. Income Receipts
1200. Principal Receipts
1201. Expenditures
1202. Categorization of Depreciation
1203. Formula for Taxable Income and Tax Liability
1204. Objective 3
1205. Gross Income
1206. Deductions for Expenses
1207. Distribution Deduction
1208. Simple Trusts.
1209. Complex Trusts
1210. Personal Exemption
1211. Credits
1212. Distributable Net Income
1213. Objective 4
1214. Significance of DNI
1215. Definition of DNI
1216. Manner of Computing DNI
1217. Determining a Simple Trust’s Taxable Income
1218. Objective 5
1219. Allocation of Expenses to Tax-Exempt Income
1220. Determination of DNI and the Distribution Deduction
1221. Tax Treatment for Beneficiary
1222. Shortcut Approach to Proving Correctness of Taxable Income
1223. Effect of a Net Operating Loss
1224. Effect of a Net Capital Loss
1225. Comprehensive Illustration: Determining a Simple Trust’s Taxable Income
1226. Background Data
1227. Trustee’s Fee
1228. Distribution Deduction and DNI
1229. Trust’s Taxable Income and Tax
1230. Categorizing a Beneficiary’s Income
1231. Determining Taxable Income for Complex Trusts and Estates
1232. Objective 6
1233. Determination of DNI and the Distribution Deduction
1234. Tax Treatment for Beneficiary
1235. General Rules
1236. Exception—The Tier System
1237. Exception—Separate Share Rule
1238. Exception—Specific Bequests
1239. Effect of a Net Operating Loss
1240. Effect of a Net Capital Loss
1241. Comprehensive Illustration: Determining a Complex Trust’s Taxable Income
1242. Background Data
1243. Trustee’s Fee
1244. Distribution Deduction and DNI
1245. Trust’s Taxable Income
1246. Additional Observations
1247. Income in Respect of a Decedent
1248. Objective 7
1249. Definition and Common Examples
1250. Significance of IRD
1251. Double Taxation
1252. Deductions in Respect of a Decedent
1253. Section 691(c) Deduction
1254. No Step-Up in Basis
1255. Grantor Trust Provisions
1256. Objective 8
1257. Purpose and Effect
1258. Revocable Trusts
1259. Post-1986 Reversionary Interest Trusts
1260. Retention of Administrative Powers
1261. Retention of Economic Benefits
1262. Control of Others’ Enjoyment
1263. Tax Planning Considerations
1264. Objective 9
1265. Ability to Shift Income
1266. Timing of Distributions
1267. Property Distributions
1268. Choice of Year-End for Estates
1269. Deduction of Administration Expenses
1270. Compliance and Procedural Considerations
1271. Objective 10
1272. Filing Requirements
1273. General Rule
1274. Due Date for Return and Tax
1275. Documents to be Furnished to IRS
1276. Sample Simple and Complex Trust Returns
1277. Problem Materials
1278. Discussion Questions
1279. Issue Identification Questions
1280. Problems
1281. Comprehensive Problem
1282. Tax Strategy Problems
1283. Tax Form/Return Preparation Problems
1284. Case Study Problems
1285. Tax Research Problems
1286. Chapter 15 Administrative Procedures
1287. Learning Objectives
1288. Chapter Outline
1289. Role of the Internal Revenue Service
1290. Objective 1
1291. Enforcement and Collection
1292. Interpretation of the Statute
1293. Audits of Tax Returns
1294. Objective 2
1295. Percentage of Returns Examined
1296. Selection of Returns for Audit
1297. Other Methods
1298. Disclosure of Uncertain Tax Positions
1299. Alternatives for a Taxpayer Whose Return is Audited
1300. Special Relief Rule
1301. Meeting with a Revenue Agent
1302. Technical Advice Memoranda
1303. Appeal to Appeals Division
1304. 90-Day Letter
1305. Litigation
1306. U.S. Tax Court
1307. U.S. District Court or U.S. Court of Federal Claims
1308. Appeal of a Lower Court’s Decision
1309. Burden of Proof
1310. Requests for Rulings
1311. Objective 3
1312. Information to be Included in Taxpayer’s Request
1313. Will the IRS Rule?
1314. When Rulings are Desirable
1315. Due Dates
1316. Objective 4
1317. Due Dates for Returns
1318. Extensions
1319. Individuals
1320. Corporations
1321. Due Dates for Payment of the Tax
1322. Interest on Tax not Timely Paid
1323. Rate Determination
1324. Daily Compounding
1325. Accrual Period
1326. Abatement
1327. Failure-to-File and Failure-to-Pay Penalties
1328. Objective 5
1329. Failure to File
1330. Failure to Pay
1331. Estimated Taxes
1332. Objective 6
1333. Payment Requirements
1334. Penalty for Underpaying Estimated Taxes
1335. Exceptions to the Penalty
1336. Other More Severe Penalties
1337. Objective 7
1338. Negligence
1339. Substantial Understatement
1340. Understatement Versus Underpayment
1341. Concept of Substantial Authority
1342. Tax Shelters and Reportable Transactions
1343. Transactions without Economic Substance
1344. Civil Fraud
1345. Criminal Fraud
1346. Criminal Fraud Investigations
1347. Penalty Provisions
1348. Section 7201
1349. Section 7203
1350. Section 7206
1351. Statute of Limitations
1352. Objective 8
1353. General Three-Year Rule
1354. Six-Year Rule for Substantial Omissions
1355. Income Tax Returns
1356. Gift and Estate Tax Returns
1357. When no Return is Filed
1358. Other Exceptions to Three-Year Rule
1359. Extension of the Three-Year Limitations Period
1360. NOL Carrybacks
1361. When Fraud Is Proven
1362. Deficiency and Civil Fraud Penalty
1363. Criminal Provisions
1364. Refund Claims
1365. Liability for Tax
1366. Objective 9
1367. Joint Returns
1368. Validity of Joint Return
1369. Innocent Spouse Provision
1370. Equitable Relief
1371. The Effect of Community Property Laws
1372. Transferee Liability
1373. Tax Practice Issues
1374. Objective 10
1375. Statutory Provisions Concerning Tax Return Preparers
1376. Reportable Transaction Disclosures
1377. Rules of Circular 230
1378. Statements on Standards for Tax Services
1379. Tax Accounting and Tax Law
1380. Accountant-Client Privilege
1381. Problem Materials
1382. Discussion Questions
1383. Issue Identification Questions
1384. Problems
1385. Comprehensive Problem
1386. Tax Strategy Problem
1387. Case Study Problem
1388. Tax Research Problems
1389. Chapter 16 U.S. Taxation of Foreign-Related Transactions
1390. Learning Objectives
1391. Chapter Outline
1392. The U.S. System of International Taxation
1393. Objective 1
1394. Participation Exemption System
1395. The Lock-Out Effect of Using a Foreign Subsidiary
1396. Sec. 245A Dividends-Received Deduction
1397. Stock Basis Reduction
1398. Taxation of U.S. Citizens and Resident Aliens
1399. Objective 2
1400. Foreign Tax Credit
1401. Creditable Taxes
1402. Eligibility for the Credit
1403. Translation of the Foreign Tax Payments
1404. Foreign Tax Credit Limitation
1405. Calculating the General Limitation
1406. Determining the Income Amounts
1407. Foreign Tax Credit Carrybacks and Carryovers
1408. Special Foreign Tax Credit Limitations
1409. Foreign-Earned Income Exclusion
1410. U.S. Citizens and Resident Aliens Working Abroad
1411. Bona Fide Residence Test
1412. Physical Presence Test
1413. Foreign Earned Income Defined
1414. Amount of the Exclusion
1415. Housing Cost Exclusion or Deduction
1416. Disallowance of Deductions and Credits
1417. Taxation of Nonresident Aliens
1418. Objective 3
1419. Definition of Nonresident Alien
1420. Investment Income
1421. Trade or Business Income
1422. Special Election for Real Estate Investors
1423. Effectively Connected Tests
1424. Calculating the Tax
1425. Taxation of U.S. Businesses Operating Abroad
1426. Objective 4
1427. Domestic Subsidiary Corporations
1428. Foreign Branches
1429. Foreign Corporations
1430. Potential Deferral of Tax on Foreign Earnings
1431. Deferral Privilege
1432. Exceptions to the Deferral Privilege
1433. Deemed Repatriation
1434. Foreign Tax Credit Baskets
1435. Taxation of a Foreign Corporation’s U.S. Trade or Business Income
1436. Regular Taxes
1437. Branch Profits Tax
1438. Controlled Foreign Corporations
1439. Pre-Subpart F Rules
1440. Subpart F Rules
1441. CFC Defined
1442. Constructive Distributions of Subpart F Income
1443. Insuring U.S. and Foreign Risks
1444. Foreign Base Company Income
1445. Boycott-Related Income
1446. Bribes, Kickbacks, and Other Illegal Payments
1447. Earnings Derived in Certain Foreign Countries
1448. Related Deductions
1449. Distributions from a CFC
1450. Disposition of CFC Stock
1451. Deemed Paid Foreign Tax Credit
1452. Deemed Paid Taxes
1453. Look-Though Rules
1454. Translating the Subpart F Income and Foreign Taxes into U.S. Dollars
1455. Passive and Mobile Income
1456. GILTI and FDII
1457. Base Erosion Payments
1458. Transfer pricing
1459. Section 482 Rules and Tax Avoidance
1460. Inversions
1461. Tax Planning Considerations
1462. Objective 5
1463. Deduction Versus Credit for Foreign Taxes
1464. Election to Accrue Foreign Taxes
1465. Special Earned Income Elections
1466. Tax Treaties
1467. Special Resident Alien Elections
1468. Compliance and Procedural Considerations
1469. Objective 6
1470. Foreign Operations of U.S. Corporations
1471. Reporting the Foreign Tax Credit
1472. Reporting the Earned Income Exclusion
1473. Filing Requirements for Aliens and Foreign Corporations
1474. Financial Statement Implications
1475. Objective 7
1476. Foreign Tax Credit
1477. Problem Materials
1478. Discussion Questions
1479. Issue Identification Questions
1480. Problems
1481. Comprehensive Problem
1482. Tax Strategy Problem
1483. Tax Form/Return Preparation Problems
1484. Case Study Problems
1485. Tax Research Problems
1486. Appendices
1487. Appendix A Tax Research Working Paper File
1488. Tax Research File
1489. Appendix B Tax Forms
1490. Facts for Sole Proprietorship (Schedule C)
1491. Facts for C Corporation (Form 1120)
1492. Facts for General Partnership (Form 1065)
1493. Facts for S Corporation (Form 1120S)
1494. Appendix C Macrs Tables
1495. Appendix D Glossary
1496. Appendix E AICPA Statements on Standards for Tax Services Nos. 1–7
1497. Appendix F Comparison of Tax Attributes for C Corporations, Partnerships, and S Corporations
1498. Appendix G Reserved
1499. Appendix H Actuarial Tables
1500. Appendix I Index of Code Sections
1501. Appendix J Index of Treasury Regulation
1502. Appendix K Index of Government Promulgations
1503. Appendix L Index of Court Cases
1504. Appendix M Subject Index
1505. 2018 Tax Rate Schedules Individual Taxpayers
1506. Capital Gains and Dividends
1507. 2018 Tax Rate Schedules