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
Student has satisfied all of the following Student has completed all of the following course(s) LAW 2200 - Basic Fed. Income Tax And Student has satisfied all of the following Student has satisfied all of the following Students who specified one or more of these Programs of Study or Program Foci Taxation LLMT And Student has satisfied all of the following Students who specified one or more of these Program Areas JD Program