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.