Federal Income Taxation with Problems Supplement, 5th Edition 2004,9781587784354

Federal Income Taxation with Problems Supplement, 5th Edition 2004

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Edition: 5th
ISBN13: 9781587784354
ISBN10: 1587784351
Format: Hardcover
Pub. Date: 2004-08-30
Publisher(s): West Academic
List Price: $140.70

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Summary

Federal Income Taxation, Fourth Edition, focuses on both the technical and policy issues associated with income taxation. It thoroughly integrates all relevant amendments to the Code enacted in Taxpayer Relief Act of 1997 and presents indepth coverage of selected advanced issues. The casebook is adaptable for use in a single course covering basis income taxation or a sequence of courses dealing with income taxation at either the J.D. level or LL.M. level.

Table of Contents

Preface iii
Acknowledgements ix
Instructor's Note xi
Table of Internal Revenue Code Sections
xlv
Table of Treasury Regulations
lxxiii
Table of Cases and Rulings
lxxxiii
PART I Introduction to Federal Income Taxation
1(54)
Introduction
1(54)
An Overview of Policy Issues and the Current Income Tax
1(19)
Selection of a Tax---Goals and Criteria
1(3)
Definitions of Income and Income vs. Consumption as the Tax Base
4(1)
Goode, ``The Economic Definition of Income'' in Pechman (Ed.), Conprehensive Income Taxation
5(3)
Cunningham, The Taxation of Capital Income and the Choice of Tax Base
8(4)
The Structure of the Income Tax and Selected Policy Issues
12(1)
Defining the Tax Base
13(1)
General
13(1)
Income From Property
14(1)
Establishing the Rate Structure
15(2)
Defining the Taxable Unit
17(1)
Determining the Taxable Period and the Taxable Income for that Period
17(1)
Other Key Concepts
18(1)
Timing
18(1)
Tax Expenditure Analysis
19(1)
The Road to the Sixteenth Amendment
20(5)
Introduction
20(1)
The Early Years
21(1)
The 1894 Income Tax---Legislative Victory and Judicial Defeat
22(1)
The Sixteenth Amendment
23(1)
Illustrative Material
24(1)
The Federal Income Tax System
25(30)
The Legislative Process
25(2)
The Administrative Process
27(1)
General Organization of the Internal Revenue Service
27(1)
Administrative Interpretation of the Tax Laws
28(5)
The Judicial Process
33(1)
Original Jurisdiction
33(1)
Appellate Jurisdiction
34(1)
IRS Acquiescence and Nonacquiescence
35(1)
A Brief Survey of Income Tax Procedure
35(1)
Current Payment
35(1)
Filing of Return and Final Payment
36(1)
Investigation of Returns and Settlement Procedure
37(2)
Tax Court Proceedings
39(2)
Refund Procedure
41(1)
Interest, Penalties, and Attorneys' Fees
41(4)
Conclusion
45(2)
The Tax Adviser
47(1)
American Bar Association Formal Opinion 85--352
47(3)
Report of the Special Task Force in Formal Opinion 85--352
50(2)
Illustrative Material
52(3)
PART II Gross Income
55(304)
General Principles of Gross Income
55(24)
Income
55(9)
Increase in Net Worth
56(1)
Commissioner v. Glenshaw Glass Co.
56(3)
Illustrative Material
59(1)
Indirect Receipts
60(1)
Old Colony Trust Company v. Commissioner
60(2)
Illustrative Material
62(2)
The Realization Requirement
64(11)
Eisner v. Macomber
64(4)
Helvering v. Bruun
68(2)
Illustrative Material
70(5)
Imputed Income
75(4)
Marsh, The Taxation of Imputed Income
75(2)
Illustrative Material
77(2)
Compensation for Services
79(39)
Noncash Transactions
79(7)
Revenue Ruling 79--24
79(1)
Illustrative Material
80(1)
Rooney v. Commissioner
80(3)
Illustrative Material
83(3)
Deferred Compensation Arrangements
86(5)
United States v. Drescher
86(4)
Illustrative Material
90(1)
Employee Fringe Benefits
91(27)
Exclusions Based on Tax Policy and Administrative Convenience
93(1)
General Explanation of the Revenue Provisions of the Deficit Reduction Act of 1984
93(8)
Illustrative Material
101(10)
Employee Benefits Excluded from Gross Income to Further Social Policy Goals
111(1)
Illustrative Material
111(7)
Gifts, Inheritances, and Similar Items
118(36)
Gifts and Inheritances
118(16)
Exclusion for Gifts and Inheritances
118(1)
Illustrative Material
119(1)
The Meaning of ``Gift'' or ``Inheritance''
119(1)
Commissioner v. Duberstein
119(9)
Illustrative Material
128(6)
Life Insurance Death Benefits
134(3)
Illustrative Material
134(3)
Prizes
137(2)
Illustrative Material
138(1)
Scholarships
139(7)
General Explanation of the Tax Reform Act of 1986
139(4)
Illustrative Material
143(3)
Governmental Subsidies and Related Items
146(8)
Business Subsidies
146(1)
Illustrative Material
147(1)
Social Welfare Payments
148(1)
Notice 99--3
148(2)
Illustrative Material
150(4)
Loans and Other Receipts Balanced by Offsetting Obligations
154(30)
Loans
154(5)
Milenbach, et al. v. Commissioner
154(4)
Illustrative Material
158(1)
Claim of Right Doctrine
159(4)
North American Oil Consolidated v. Burnet
159(2)
Illustrative Material
161(2)
Illegal Income
163(9)
James v. United States
163(6)
Illustrative Material
169(3)
Deposits
172(7)
Commissioner v. Indianapolis Power & Light Co.
172(5)
Illustrative Material
177(2)
Conduit Situations
179(5)
Revenue Ruling 68--512
179(1)
Illustrative Material
180(4)
Income From the Disposition of Property
184(35)
Introduction
184(2)
Realization of Gain or Loss
186(15)
Mortgaging Property as a Disposition
186(1)
Woodsam Associates, Inc. v. Commissioner
186(2)
Illustrative Material
188(1)
Realization As Material Change
189(1)
Cottage Savings Association v. Commissioner
189(8)
Illustrative Material
197(4)
Determining the Amount of Gain
201(18)
Sales of Property and Transfers of Property in Satisfaction of a Claim
201(1)
International Freighting Corporation, Inc. v. Commissioner
201(3)
Illustrative Material
204(4)
Basis of Property Received in an Exchange
208(1)
Philadelphia Park Amusement Co. v. United States
208(3)
Illustrative Material
211(3)
The Role of Debt in Amount Realized and Basis
214(1)
Illustrative Material
215(4)
The Relationship of Basis to Income Recognition
219(25)
Gifts of Property: Transferred Basis
219(4)
Taft. v. Bowers
219(2)
Illustrative Material
221(2)
Transfers at Death: Fair Market Value Basis
223(6)
Illustrative Material
224(5)
Gifts and Inheritances of Split Interests
229(3)
Irwin v. Gavit
229(2)
Illustrative Material
231(1)
Income in Respect of a Decedent
232(6)
Edward D. Rollert Residuary Trust v. Commissioner
233(3)
Illustrative Material
236(2)
Tax Policy Aspects of Gratuitous Transfers of Appreciated Property
238(2)
U.S. Treasury Department Tax Reform Studies and Proposals
239(1)
Nonshareholder Contributions to Capital
240(4)
Illustrative Material
240(4)
Taxation of Periodic Income From Capital
244(47)
Introduction
244(8)
Illustrative Material
244(8)
Tax Deferred and Tax-Exempt Investment Accounts
252(8)
Illustrative Material
253(4)
Eugene Steuerle, Back-loaded IRAs: Head Taxes Replace Income and Consumption Taxes
257(3)
Special Treatment of Corporate Dividends
260(2)
Jobs and Growth Tax Relief Reconciliation Act of 2003, Report of the Committee on Ways and Means, House of Representatives
260(1)
Illustrative Material
261(1)
Tax-Exempt Interest on State and Local Bonds
262(8)
General Explanation of the Tax Reform Act of 1986
266(2)
Illustrative Material
268(2)
Treatment of the Owner of Annuity and Life Insurance Contracts
270(13)
Annuities
271(2)
Illustrative Material
273(5)
Life Insurance
278(2)
Illustrative Material
280(3)
Exclusion of Gains From the Sale of a Principal Residence
283(8)
Illustrative Material
284(7)
Damage Awards and Settlements and Insurance Recoveries
291(19)
Damages Received on Account of Property and Lost Profits
291(7)
Clark v. Commissioner
291(1)
Raytheon Production Corp. v. Commissioner
292(4)
Illustrative Material
296(2)
Damage Awards for Personal Injury
298(9)
General Explanation of Tax Legislation Enacted in the 105th Congress
300(2)
Illustrative Material
302(5)
Insurance Recoveries
307(3)
Compensation for Personal Injuries or Sickness
307(1)
Worker's Compensation
307(1)
Accident and Health Insurance
308(1)
Insurance Payments for Living Expenses
309(1)
Income From the Cancellation of Indebtedness
310(23)
General Principles
310(5)
United States v. Kirby Lumber Company
310(1)
Illustrative Material
311(4)
Statutory Codification of Cancellation of Indebtedness Rules
315(5)
Illustrative Material
316(4)
The Disputed Debt, or Contested Liability Doctrine
320(10)
Preslar v. Commissioner
320(7)
Illustrative Material
327(3)
Cancellation of Indebtedness as a Medium of Payment
330(3)
Illustrative Material
331(2)
Tax Expenditures
333(26)
The Concept of Tax Expenditures
333(23)
Introduction
333(1)
Identifying Tax Expenditures
334(2)
The Tax Expenditure Budget
336(1)
Estimates of Federal Tax Expenditures for Fiscal Years 2004--2008
336(9)
Illustrative Material
345(11)
Application of Tax Expenditure Analysis
356(3)
Illustrative Material
356(3)
PART III Business Deductions and Credits
359(224)
Ordinary and Necessary Business and Profit--Seeking Expenses
359(44)
The Relevance of ``Trade or Business'' Versus ``Profit--Seeking'' Expenses
360(3)
Illustrative Material
362(1)
The ``Ordinary and Necessary'' Limitation
363(10)
The Supreme Court Decisions
363(1)
Welch v. Helvering
363(2)
Illustrative Material
365(1)
The ``Ordinary and Necessary'' Limitation in the Lower Courts
366(1)
Friedman v. Delaney
366(3)
Illustrative Material
369(4)
The Limitation of ``Unreasonable'' Compensation
373(8)
Exacto Spring Corporation v. Commissioner
373(4)
Illustrative Material
377(4)
Expenses Related to Tax--Exempt Income
381(5)
Revenue Ruling 83--3
381(3)
Illustrative Material
384(2)
``Public Policy'' Limitations: Tax Penalties
386(17)
Bribes, Fines, and Penalties
387(1)
Tank Truck Rentals, Inc. v. Commissioner
387(2)
Illustrative Material
389(6)
Lobbying Activities
395(1)
Cammarano v. United States
395(1)
Illustrative Material
396(4)
Other Tax Penalties
400(1)
Illustrative Material
400(3)
Deductible Profit-Seeking Expenses Versus Nondeductible Capital Expenditures
403(48)
Expenditures to Acquire Property
405(12)
Encyclopaedia Britannica, Inc. v. Commissioner
405(3)
Illustrative Material
408(9)
Expenditures With Benefit Beyond the Taxable Year and Intangible Assets
417(12)
INDOPCO, Inc. v. Commissioner
417(4)
Illustrative Material
421(8)
Business Investigation, Start-Up and Expansion Costs
429(9)
Senate Finance Committee Report, Miscellaneous Revenue Act of 1980
431(2)
Illustrative Material
433(5)
Improvement Versus Repair or Replacement
438(13)
Midland Empire Packing Company v. Commissioner
438(3)
Mt. Morris Drive--In Theatre Co. v. Commissioner
441(2)
Mt. Morris Drive--In Theatre Company v. Commissioner
443(1)
Illustrative Material
444(7)
Cost Recovery Mechanisms
451(50)
Depreciation
453(33)
Accelerated Cost Recovery System
453(1)
Simon v. Commissioner
453(7)
Illustrative Material
460(14)
Election to Expense Certain Depreciable Business Assets
474(1)
Illustrative Material
474(1)
The Financial Impact of Accelerated Cost Recovery
475(5)
Illustrative Material
480(6)
Statutory Amortization of Intangible Assets
486(6)
Revenue Reconciliation Act of 1993, Report of the Committee on Ways and Means, House of Representatives
486(3)
Illustrative Material
489(3)
Expensing and Amortization Provisions
492(3)
Illustrative Material
492(3)
Capital Recovery for Natural Resources
495(6)
Illustrative Material
496(5)
Transactional Losses
501(32)
Business or Profit Seeking Losses
502(14)
Miller v. Commissioner
504(2)
Illustrative Material
506(10)
Loss Disallowance Rules
516(8)
Sales to Related Persons: Section 267
517(1)
Illustrative Material
518(2)
Wash Sales
520(1)
Tax Straddles
521(1)
Public Policy Limitation
522(2)
Bad Debts
524(9)
Illustrative Material
525(8)
Interest as a Profit-Seeking Expense
533(33)
What Is Interest?
533(10)
Albertson's, Inc. v. Commissioner
533(4)
Illustrative Material
537(6)
Allocation of Interest
543(5)
Illustrative Material
544(4)
Limitations on the Interest Deduction
548(18)
Investment Interest Limitation
548(1)
General Explanation of the Tax Reform Act of 1986
549(2)
Illustrative Material
551(2)
Capitalization of Interest
553(1)
Illustrative Material
554(1)
Interest on Loans to Acquire or Carry Tax Exempt Bonds
555(1)
Revenue Procedure 72--18
555(4)
Illustrative Material
559(2)
Interest Incurred in Connection with Insurance Contracts
561(1)
Judicial Limitations on the Deductibility of Interest in Tax Motivated Transactions
562(4)
Business Tax Credits
566(17)
Introduction
566(1)
General Business Credit
567(13)
Illustrative Material
568(12)
Other Business Credits
580(3)
PART IV Dual Purpose Expenses
583(100)
Determining When a Taxpayer is Engaging in a Business or Profit-Seeking Activity
583(27)
Is There a Profit--Seeking Motive?
584(14)
Peacock v. Commissioner
584(7)
Illustrative Material
591(7)
Business Use of Residence
598(12)
Hamacher v. Commissioner
598(4)
Illustrative Material
602(8)
Expenses Involving Both Personal and Business Purposes
610(49)
General Principles
610(7)
Moss v. Commissioner
611(3)
Illustrative Material
614(3)
Travel and Related Expenses
617(17)
Commissioner v. Flowers
617(2)
Hantzis v. Commissioner
619(6)
Illustrative Material
625(9)
Business Meals and Entertainment
634(13)
Churchill Downs, Inc. v. Commissioner
634(4)
Illustrative Material
638(9)
Statutory Limitations on Deductions for Certain Property
647(4)
General Explanation of the Revenue Provisions of the Tax Reform Act of 1984
647(1)
Illustrative Material
648(3)
Clothing
651(5)
Pevsner v. Commissioner
651(4)
Illustrative Material
655(1)
Child and Dependent Care
656(3)
Smith v. Commissioner
656(1)
Illustrative Material
657(2)
Expenditures Involving Both Personal and Capital Aspects
659(24)
Legal Expenses
659(12)
United States v. Gilmore
659(6)
Illustrative Material
665(6)
Expenses for Education and Seeking Employment
671(12)
Wassenaar v. Commissioner
671(3)
Illustrative Material
674(9)
PART V Deductions and Credits for Personal Living Expenses
683(104)
Itemized Personal Deductions
683(68)
Introduction---The Adjusted Gross Income Concept and Itemized Deductions
683(2)
Illustrative Material
684(1)
Medical Expenses
685(13)
Revenue Ruling 99--28
686(1)
Rev. Rul. 2002--19
687(2)
Illustrative Material
689(9)
Charitable Contributions
698(27)
Hernandez v. Commissioner
699(9)
Illustrative Material
708(17)
State and Local Taxes
725(3)
Illustrative Material
726(2)
Qualified Home Mortgage Interest
728(10)
General Explanation of the Tax Reform Act of 1986
728(1)
Illustrative Material
729(9)
Casualty Losses
738(10)
Chamales v. Commissioner
738(5)
Illustrative Material
743(5)
Limitations on Itemized Deductions
748(3)
Standard Deduction, Personal and Dependency Exemptions, and Personal Credits
751(16)
Personal Exemptions and the Standard Deduction
751(6)
The Standard Deduction
752(1)
Illustrative Material
752(1)
Personal Exemptions
753(1)
Illustrative Material
754(3)
Personal Credits
757(10)
Credits for Basic Living Expenses
757(1)
Earned Income Credit
757(1)
Illustrative Material
758(2)
The Child Credit
760(1)
Tax Credits for Personal Costs
761(1)
Illustrative Material
762(5)
Tax Expenditures for Education
767(20)
Overview of Present Law and Economic Analysis Relating to Tax and Savings Incentives for Education
767(10)
Illustrative Material
777(10)
PART VI Timing of Income and Deductions
787(142)
Tax Accounting Methods
787(79)
General Principles
787(8)
Tax Accounting Methods in General---Cash and Accrual Methods
787(3)
The Function of Tax Accounting
790(1)
The Accounting Method Standard: Clear Reflection of Income
791(2)
Differences Between Tax Accounting and Financial Accounting
793(2)
The Cash Method
795(18)
Income Items
795(1)
Revenue Ruling 92--69
796(2)
Pulsifer v. Commissioner
798(1)
Illustrative Material
799(5)
Deduction Items
804(1)
Constructive Payment and the Equivalence of Cash---Has an Item Been ``Paid''
804(1)
Illustrative Material
805(2)
Advance Payments---When Must Deduction of an Item Be Deferred Even Though Actually Paid
807(1)
Commissioner v. Boylston Market Association
808(1)
Illustrative Material
809(4)
The Accrual Method
813(43)
Income Items
813(1)
Inclusion Prior to Receipt---The Concept of Accrual
813(1)
Charles Schwab Corporation v. Commissioner
814(6)
Illustrative Material
820(5)
Advance Receipts---May Inclusion of an Actual Receipt Be Deferred
825(1)
Schlude v. Commissioner
825(5)
Illustrative Material
830(5)
Deduction Items
835(1)
The Historic All Events Test
836(1)
Mooney Aircraft, Inc. v. United States
836(4)
Illustrative Material
840(4)
The Economic Performance Requirement
844(1)
General Explanation of the Tax Reform Act of 1984
845(6)
Illustrative Material
851(4)
Long-Term Contracts
855(1)
Inventory Accounting
856(6)
Illustrative Material
858(4)
Changes in Method of Accounting or Method of Reporting Income
862(4)
Illustrative Material
863(3)
The Annual Accounting Concept
866(28)
Transactional Problems
866(21)
General Principles
866(1)
Burnet v. Sanford & Brooks Co.
866(2)
Illustrative Material
868(1)
Initial Deduction Followed by Later Recovery: The Tax Benefit Doctrine
869(1)
Hillsboro National Bank v. Commissioner
870(4)
Illustrative Material
874(3)
Initial Inclusion in Income Followed by Later Repayment
877(1)
Illustrative Material
878(3)
Related Procedural Doctrines
881(1)
The Judicial Doctrines of Estoppel and Recoupment
881(1)
Mitigation of the Statute of Litigations
882(3)
Res Judicata and Collateral Estoppel
885(1)
Policy Issues
886(1)
Net Operating Loss Carryover and Carryback
887(7)
Illustrative Material
889(5)
Deferred Compensation Arrangements
894(35)
Unfunded Deferred Compensation Contracts
894(8)
Revenue Ruling 60--31
894(5)
Illustrative Material
899(3)
Transfers of Property for Services
902(21)
The Situation Before Section 83
902(1)
Commissioner v. Lo Bue
903(3)
Illustrative Material
906(1)
Section 83
907(1)
General Explanation of the Tax Reform Act of 1969
907(1)
Alves v. Commissioner
908(4)
Illustrative Material
912(8)
Incentive Stock Options
920(1)
Summary of H.R. 4242, The Economic Recovery Tax Act of 1981
921(1)
Illustrative Material
922(1)
Qualified Pension Plans
923(6)
Simplification of Present--Law Tax Rules Relating to Qualified Pension Plans (S. 1364, The Employee Benefits Simplification and Expansion Act of 1991, and S. 318)
923(4)
Illustrative Material
927(2)
PART VII The Taxable Unit
929(104)
Shifting Income Among Taxable Units
929(39)
Income From Personal Services
930(8)
Lucas v. Earl
930(1)
Illustrative Material
931(7)
Income From Property
938(18)
Blair v. Commissioner
938(2)
Helvering v. Horst
940(4)
Harrison v. Schaffner
944(2)
Illustrative Material
946(10)
Property that is the Product of Personal Efforts
956(5)
Helvering v. Eubank
956(2)
Revenue Ruling 54--599
958(1)
Illustrative Material
958(3)
Below--Market and Interest--Free Loans
961(7)
General Explanation of the Revenue Provisions of the Deficit Reduction Act of 1984
961(4)
Illustrative Material
965(3)
Taxation of Families
968(35)
The Married Couple as the Unit of Taxation
968(14)
Druker v. Commissioner
968(5)
Mueller v. Commissioner
973(3)
Illustrative Material
976(6)
Taxation of Children as Part of the Family Unit
982(2)
General Explanation of the Tax Reform Act of 1986
982(1)
Illustrative Material
983(1)
Tax Aspects of Divorce and Separation
984(17)
Property Settlements
986(1)
Balding v. Commissioner
986(2)
Illustrative Material
988(6)
Alimony and Child Support
994(1)
General Explanation of the Revenue Provisions of the Deficit Reduction Act of 1984
994(2)
Illustrative Material
996(5)
Unitary Treatment of Related Persons
1001(2)
Taxation of the Income of Trusts
1003(30)
Grantor Trusts
1003(17)
Historical Background
1004(1)
Helvering v. Clifford
1004(3)
Illustrative Material
1007(1)
Statutory Framework
1007(3)
Illustrative Material
1010(10)
The Taxation of Non--Grantor Trusts
1020(13)
Tax Treatment of Simple Trusts
1021(1)
Introduction
1022(1)
The Statutory Pattern
1023(3)
Illustrative Material
1026(1)
Tax Treatment of Complex Trusts: Allocation Among Several Beneficiaries
1027(3)
Illustrative Material
1030(3)
PART VIII Deferred Recognition of Gain From Property
1033(82)
Like--Kind Exchanges
1033(27)
Like--Kind Exchanges In General
1034(14)
Technical Rules
1034(1)
Illustrative Material
1035(13)
Multiparty and Deferred Exchanges
1048(12)
Braker v. Commissioner
1048(5)
Illustrative Material
1053(7)
Involuntary Conversions and other Deferred Recognition Transactions
1060(19)
Involuntary Conversions
1060(15)
Willamette Industries, Inc. v. Commissioner
1061(6)
Illustrative Material
1067(8)
Miscellaneous Nonrecognition Provisions
1075(4)
Illustrative Material
1076(3)
Deferred Payment Sales
1079(17)
Nonstatutory Deferred Reporting of Gains
1079(3)
Burnet v. Logan
1079(2)
Illustrative Material
1081(1)
Installment Reporting Under Section 453
1082(14)
Illustrative Material
1083(13)
Interest on Discount Obligations
1096(19)
Introduction
1096(2)
Original Issue Discount
1098(14)
Tax Reform Act of 1984 General Explanation of the Revenue Provisions
1098(5)
Illustrative Material
1103(9)
Bond Premium
1112(3)
Illustrative Material
1112(3)
PART IX Characterization of Gains and Losses
1115(112)
Capital Gains and Losses
1115(92)
Special Treatment of Capital Gains and Losses
1115(19)
Illustrative Material
1120(14)
Definition of ``Capital Asset''
1134(47)
The Statutory Exclusions
1136(1)
Investment Assets Versus Ordinary Business Assets
1136(2)
Suburban Realty Co. v. United States
1138(10)
Illustrative Material
1148(8)
Section 1221(a)(2): Real Property and Depreciable Property Held for Use in the Taxpayers Trade or Business
1156(1)
Section 1221(a)(3): Investment Profits Versus Rewards for Personal Services
1157(1)
Illustrative Material
1158(4)
Section 1221(a)(4): Accounts Receivable
1162(1)
Section 1221(a)(5): Government Documents
1162(1)
Section 1221(a)(6): Dealer--Held Commodities Derivative Financial Instruments
1162(1)
Section 1221(a)(7): Hedging Transactions
1163(1)
Illustrative Material
1163(2)
Section 1221(a)(8): Non--Inventory Supplies
1165(1)
Judicial Limitations on Capital Asset Classification
1166(1)
Substitute for Ordinary Income
1166(1)
Hort v. Commissioner
1167(2)
Commissioner v. P.G. Lake, Inc.
1169(2)
McAllister v. Commissioner
1171(2)
Illustrative Material
1173(4)
Other Contractual Arrangements
1177(2)
Illustrative Material
1179(2)
Sale or Exchange Requirement
1181(8)
Termination of Taxpayer's Interest Without a ``Transfer''---The Creditor's Situation
1182(1)
Taxpayer Relief Act of 1997, Report of the Committee on Ways and Means, House of Representatives
1182(4)
Illustrative Material
1186(2)
Satisfaction of a Claim---The Debtor's Situation
1188(1)
Holding Period Requirement
1189(3)
Illustrative Material
1190(2)
Special Statutory Treatment of Particular Gains and Losses
1192(5)
Illustrative Material
1193(4)
Transactional Problems of Capital Gains and Losses
1197(10)
Transaction Related to a Previous Capital Transaction
1198(1)
Arrowsmith v. Commissioner
1198(2)
Illustrative Material
1200(7)
Sales of Assets Held for Use in a Trade or Business
1207(20)
Section 1231 Property
1207(10)
Illustrative Material
1211(6)
Sale of an Entire Business
1217(10)
Williams v. McGowan
1217(1)
Illustrative Material
1218(9)
PART X Tax Motivated Transactions
1227(122)
Transactions Involving Leased Property: Has a Sale or Other Disposition Occurred?
1227(28)
Estate of Starr v. Commissioner
1228(2)
Alstores Realty Corp. v. Commissioner
1230(3)
Frank Lyon Co. v. United States
1233(13)
Illustrative Material
1246(9)
Nonrecourse Debt and Leveraged Tax Shelters
1255(30)
Acquisition and Disposition of Property Subject to Nonrecourse Debt
1255(18)
Commissioner v. Tufts
1259(8)
Illustrative Material
1267(6)
Tax Shelters
1273(5)
Illustrative Material
1274(4)
The Valuation of Property Subject to Debt
1278(7)
Estate of Franklin v. Commissioner
1278(3)
Illustrative Material
1281(4)
Statutory Limitations on Leveraged Tax Shelters
1285(24)
The At-Risk Limitation
1285(9)
Senate Finance Committee Report, Tax Reform Act of 1976
1285(2)
Illustrative Material
1287(7)
Passive Activity Loss Limitation
1294(15)
Senate Finance Committee Report, Tax Reform Act of 1986
1295(3)
Illustrative Material
1298(11)
Economic Substance Doctrine
1309(40)
Tax Avoidance versus Business Purpose
1309(32)
In re CM Holdings, Inc.
1309(8)
Compaq Computer Corp. v. Commissioner
1317(9)
Illustrative Material
1326(3)
Conference Report, Jobs and Growth Tax Relief Reconciliation Act of 2003
1329(12)
Tax Shelter Disclosure and Reporting Requirements
1341(8)
Illustrative Material
1342(7)
PART XI Alternative Minimum Tax
1349(16)
Alternative Minimum Tax for Individuals
1349(16)
Structure of the AMT
1350(6)
Study of the General State of the Federal Tax System and Recommendations for Simplification, Pursuant to Section 8022 of the Internal Revenue Code of 1986, Vol. II
1350(2)
Illustrative Material
1352(4)
Current Operation of the AMT
1356(4)
Klaassen v. Commissioner
1356(3)
Illustrative Material
1359(1)
The Growth of the AMT---From Class Tax to Mass Tax
1360(5)
Study of the General State of the Federal Tax System and Recommendations for Simplification, Pursuant to Section 8022 of the Internal Revenue Code of 1986, Vol. II
1360(3)
Illustrative Material
1363(2)
Index 1365

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