Federal Tax Course (2009)

accounting activities additional adjusted basis allowed amount apply asset Assume base benefits bonds building calculation calendar capital capital gain capital loss cash Chapter Code Sec computing considered contract contribution corporation corporation's costs Court debt decision deduction depreciation determine difference discussed distribution dividends earnings elect employees equals Example exceed excess exchange expenditures expenses facts filing gain gross income income tax increase incurred individual interest investment issued land less limited loan long-term loss method method of accounting million months operating ordinary owners paid partnership payments percent period placed production profits purchase qualified realized Reason receipts received recognized reduce regular regulations reported result rules sells shareholders shares sold sole tax credit tax laws tax liability tax rate tax return taxable income taxpayer treated types wages