LAW-2401 Advanced Topics Income Tax
An understanding of the material covered in this course is fundamental for any student intending to focus a significant portion of her/his practice on taxation. The topics studied include a review of capital gains, losses and holding period; sales of business property and other transactions covered under section 1231; depreciation recapture from dispositions of real and personal property; tax consequences resulting from sales between related parties; wash sales of securities; bad debts; worthless securities; charitable contributions; personal casualty losses; installment sales; property transfers in connection with the performance of services; incentive stock options; original issue discount, unstated and imputed interest; like kind exchanges; involuntary conversions; passive activity losses; at risk rules; activities not engaged in for profit; restriction on deductions for vacation rental and other business uses of a home; below market rate loans; income in respect of a decedent; deductibility of taxes, moving expenses, medical expenses, personal exemptions and dependents; net operating losses, tax benefit doctrine and restoration of previously taxed income; alternative minimum tax and federal tax accounting. Restricted to Students in the LLM Taxation Program - Summer Intensive
Prerequisite
LAW-2200