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| The syllabus will change from time to time. Printing is not recommended. |
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Page last modified Tuesday, July 2, 2002, 7:15 P.M. |
Welcome!
Two date changes
We will not meet on Monday, May 20, or on Friday, June 7. This means Wednesday, May 22 is the first day we meet. We can cover the two canceled classes by make-up classes that are videotaped for those for whom attendance in inconvenient, or by meeting 15 minutes extra for the other classes. Or we can combine these two approaches into a less burdensome alternative. We will discuss this on Wednesday, May 22. My apologies.
Assigned material
Westin, Basic Federal Income Taxation, 2002
Selected Federal Taxation -- Statutes and Regulations, most recent edition (West Group, D. Lathrope, Ed.). The assignments of code and regulations sections are made by the main text.
Final exam materials
At the final exam, you may have with you and use the assigned reading material.
You may have with you and use any notes you made in connection with this course, regardless of the source from which you made the notes including, without by way of limitation, notes from class or from any book in the library, and notes from the notes of another student in the class as long as you have that student's permission. Having someone type your notes for your use is permissible as long as you made the notes or recording from which the typing is done.
Final exam
The final exam will be multiple-choice.
Reading assignments
In the summer we cover in 7 weeks what is usually covered in 14, and we meet only 3 times a week although this is a 4-credit course. The reading would average only about 16 pages of text plus associated code and regulations, per 50 minute class, in a regular semester. We proceed at varying rates through the materials, however, depending on the difficulty of the material and other considerations.
Week 1
Wednesday, May 22
Chapter 1, Introduction and Some Key Concepts, pp. 1-44.
Friday, May 24
Chapter 2, Gross Income, pp. 45-92.
Week 2
Monday, May 27, Memorial Day
Chapter 3, Gains and Losses Derived from Dealing in Property, pp. 93-114.
Philadelphia Park Amusement Company v. United States, p. 108, is a key case.
We will spend extensive time on Philadelphia Park, which calls for very close reading.
An example may help.
Wednesday, May 29
A videotape ot yesterday's class is on 3-hour reserve.
Discuss timing of our make-up class. Consider a Friday, in late afternon or evening. Perhaps Friday May 31 or Friday June 14. Remember, a videotape will be made promptly available.
Chapter 3, Gains and Losses Derived from Dealing in Property (continued), pp. 114-157
Friday, May 31
Chapter 4, Exclusions from Gross Income, pp. 159-173, skipping pp. 173-183
Chapter 4, Exclusions from Gross Income, pp. 183-214
Week 3
Monday, June 3
Chapter 4, Exclusions from Gross Income (continued), pp. 214-259
Wednesday, June 5
Chapter 5, Business and Profit-Seeking Deductions and Credits, pp. 261-299
Friday, June 7
Class is cancelled
Week 4
Monday, June 10
Chapter 5, Business and Profit-Seeking Deductions and Credits (continued), pp. 299-326
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures, pp. 327-344
Wednesday, June 12
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 344-403
Friday, June 14
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 403-458
Week 5
Monday, June 17, 8:00 A.M.
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking, pp. 459-467, skipping pp. 467-472
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), 473-522
Monday, June 17, 1:00 P.M. - Make-Up Class
Tapes of June 17 make-up class have been placed on reserve.
Discussion of selected hypotheticals, examples, and problems. As time allows, we will draw from among the problems listed on the linked page.
Wednesday, June 19
Tapes of June 17 make-up class have been placed on reserve.
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), pp. 522-540, skipping pp. 540-557
Chapter 8, Characterization of Gains and Losses, pp. 559-598
Friday, June 21
Chapter 8, Characterization of Gains and Losses (continued), pp. 598-609
Week 6
Monday, June 24
The following assignment is as posted at noon Sunday, June 23, 2002. Only the verbiage preceding the assignment has changed since then.
Chapter 8, Characterization of Gains and Losses (continued), pp. 609-630
Chapter 9, Tax Accounting, pp. 631--649
Wednesday, June 26
Chapter 9, Tax Accounting (continued), pp. 649-694
Friday, June 28
Chapter 9, Tax Accounting (continued), pp. 694-724
Chapter 10, Integrity of the Taxable Year, 725-744
Chapter 11, Tax Deferred Transactions, 745-756
Week 7
Monday, July 1
Chapter 11, Tax Deferred Transactions, 756-774
Skip Chapter 12
Chapter 13, Alternative Minimum Tax, pp. 835-843
Appendix A, Phase in of Income Tax Rate Reductions
Appendix B, Capital Gains Rates as Phased in Under 2001 Law
Wednesday, July 3
Class will be held in the law school.
Appendix C, Glossary.
Discussion of selected hypotheticals, examples, and problems. As time allows, we will draw from among the problems listed on the linked page.
Friday, July 5
Class will be held in the law school. The law school is open today, so there should not be a problem of access to the building.
Review.
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