LAW 705LEC - Federal Income Tax 2

This course builds on and moves beyond the issues addressed in the basic course in federal income taxation with a particular focus on property transactions and issues relating to the timing and character (capital versus ordinary) of income and deductions. Among other topics, we will cover the cash and accrual methods of accounting, depreciation, like-kind exchanges, original issue discount, installment sales, property transactions involving debt financing, and sales and leasebacks. Prerequisite: Federal Income Tax I (Law 608).

Credits: 3

Prerequisites & Notes
Pre-Requisite: LAW 608 (Federal Income Tax I).