Course Description

601:649. FEDERAL INCOME TAXATION (4)

W optional (depending on instructor)


Friedell, Livingston, Ryan, Stewart.

This course is a prerequisite to all other tax courses.


This course concentrates on the federal income taxation of individuals–although many of the concepts apply to non-individual taxpayers (corporations, trusts and estates) as well. The basic components of the tax are: gross income, deductions, adjusted gross income, exemptions, credits, basis, capital gains and losses, rates, and the rules governing who is a taxpayer. Special attention will be devoted to the tax policies underlying the Internal Revenue Code, Treasury regulations, IRS Rulings and Court Cases.