Capsule Summary 1
1.Getting Started in Federal Income Tax 1
2.Identifying Gross Income 25
3.Specific Inclusions in Gross Income 35
4.Specific Exclusions from Gross Income 61
5.Deductions—In General 91
6.Personal Deductions 97
7.Business Deductions 123
8.Mixed Business and Personal Expenses 143
9.Transactions in Property 165
10.Nonrecognition Transactions 189
11.Timing of Income and Expenses 221
12.Character of Income and Loss 255
13.Tax Rates and Credits 283
14.Identifying the Taxpayer 299
15.Time Value of Money:Principles and Applications 311
16.Recognizing Related Tax Statutes:A Transactional Approach to Tax 333
Essay Exam Questions 359
Essay Exam Answers 361
Table of Cases 369
Table of Statutes 371
Table of Internal Revenue Code Provisions 373
Index 381