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| The syllabus is regularly adjusted for course progress, so printing is not recommended. |
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Page last modified Monday, November 18, 2002, 12:00 P.M. |
Welcome!
Assigned material
Westin, Basic Federal Income Taxation, 2002. Detailed reading assignments are listed below.
Selected Federal Taxation Statutes and Regulations, most recent edition. 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, even if you obtained used materials on which notes were already made.
You may also have with you and use any notes made by you 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 and essay.
Reading assignments
The reading averages about 16 pages of text plus associated code and regulations per class. We proceed at varying rates through the materials, however, depending on the difficulty of the material and other considerations. Assigned problems are specifically mentioned and will be discussed in class if time permits. Other problems are not assigned.
Week 1
Wednesday, August 21
Chapter 1, Introduction and Some Key Concepts, pp. 1-24.
Thursday, August 22
Chapter 1, Introduction and Some Key Concepts (continued), pp. 24-44.
Week 2
Monday, August 26
Chapter 2, Gross Income, pp. 45-60.
Tuesday, August 27
Chapter 2, Gross Income (continued), pp. 60-75.
Wednesday, August 28.
Chapter 2, Gross Income (continued), pp. 75-91.
Thursday, August 29
Chapter 3, Gains and Losses Derived from Dealing in Property, pp. 93-106.
Week 3
Monday, September 2, Labor Day
No class.
Tuesday, September 3
In class discussion we will focus on:
Zarin v. Commissioner, p. 67;
Revenue Ruling 79-24, p. 77;
Commissioner v. Daehler, p. 83; and
Cottage Savings v. Commissioner, p. 96.
Wednesday, September 4
Chapter 3, Gains and Losses Derived from Dealing in Property (continued), pp. 107-112.
Philadelphia Park Amusement Co. v. United States is a knotty case for many students. A very close reading of the case will make your life easier.
An example may help interpret Philadelphia Park Amusement Co. v. United States.
Thursday, September 5
Philadelphia Park and example ,continued
Chapter 3, Gains and Losses Derived from Dealing in Property (continued), pp. 112-126.
Week 4
Monday, September 9
Chapter 3, Gains and Losses Derived from Dealing in Property (continued), pp. 126-138.
Tuesday, September 10
Class is canceled.
Wednesday, September 11
Chapter 3, Gains and Losses Derived from Dealing in Property (continued), pp.138-157.
Thursday, September 12
Overview discussion.
Week 5
Monday, September 16
At the beginning of class we will devote more time to Tufts, p. 147, then move on.
Chapter 4, Exclusions from Gross Income, pp. 159-173, skipping pp. 173-183.
Tuesday, September 17
Crane and Tufts, by the numbers.
Wednesday, September 18
Debt in Crane and Tufts as a vehicle for further basis discussion.
Problem 1-2, p. 35.
Problem 2-1 (a), pp. 63-64.
Problem 2-2, p. 75.
Problem 2-3, p. 77.
Thursday, September 19
Problem 3-2, p. 106.
Problem 3-3, p. 112-113.
Problem 3-4, p. 114.
Problem 3-10 (a) through (i), pp. 156-157.
Chapter 4, Exclusions from Gross Income, pp. 183-192.
Week 6
Monday, September 23
Problem 4-1, p 184.
Problem 4-3, p. 186.
Chapter 4, Exclusions from Gross Income (continued), pp. 192-224.
Tuesday, September 24
Problem 4-4, p. 187.
Problem 4-8 (a) through (c), p. 198.
Problem 4-10, p. 214.
Problem 4-13, p. 224.
Wednesday, September 25
Chapter 4, Exclusions from Gross Income (continued), pp. 224-249.
Thursday, September 26
Chapter 4, Exclusions from Gross Income (continued), pp. 249-259.
Chapter 5, Business and Profit-Seeking Deductions and Credits, pp. 261-283.
Week 7
Monday, September 30
Problem 5-1, p. 268.
Problem 5-2, p. 282.
Chapter 5, Business and Profit-Seeking Deductions and Credits (continued), pp. 283-295.
Tuesday, October 1
Tax Clinic presentation, tax procedure - Professor Karen Kole.
Wednesday, October 2
Chapter 5, Business and Profit-Seeking Deductions and Credits (continued), pp. 295-303.
Problem 5-6, p. 303.
Thursday, October 3
Chapter 5, Business and Profit-Seeking Deductions and Credits (continued), pp. 304-326.
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures, pp. 327-334.
Week 8
Monday, October 7
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures, pp. 334-337.
Problem 6-1, pp. 337-338.
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures, pp. 338-343.
Tuesday, October 8
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures, pp. 344-353.
Problem 6-4, pp. 353-354.
Anticipating the need to make up a couple of classes, I think we should use the 10:00 A.M. hour on Friday a couple of times. It may not be ideal for everyone, but it should be doable for most, and the class will be videotaped. Please note the additions to our schedule on Friday, October 11, and Friday, October 26.
Wednesday, October 9
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 354-358.
Problem 6-5, p. 358-359.
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 359-369.
.Second posting. Anticipating the need to make up a couple of classes, I think we should use the 10:00 A.M. hour on Friday a couple of times. It may not be ideal for everyone, but it should be doable for most, and the class will be videotaped. Please note the additions to our schedule on Friday, October 11, and Friday, October 25.
Thursday, October 10
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 369-375.
Please note that we have class tomorrow. It will be videotaped for those unable to attend. Multiple copies will be available on reserve.
Friday, October 11, make-up class
Problem 6-6, 375-376.
Chapter 6, Selected Other Deductions for Gain-Seeking.
Expenditures (continued), pp. 376-383.
Problem 6-7, p. 383.
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 383-388.
Problem 6-8, p. 388.
Class will be videotaped for those unable to attend. Multiple copies will be available on reserve.
Week 9
Monday, October 14
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 388-399.
Tuesday, October 15
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 399-415.
Wednesday, October 16
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 415--438.
Thursday, October 17
Discussion of exam taking.
Introduction to tax research.
Week 10
Monday, October 21
Tax research.
Tuesday, October 22
Chapter 6, Selected Other Deductions for Gain-Seeking Expenditures (continued), pp. 438-445.
Wednesday, October 23
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking, pp. 445-467 (skipping pp. 467-472).
Thursday, October 24
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), 473-484.
Friday, October 25, make-up class
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), 484-493.
Problem 7-5 (a) through (i), pp. 493-494.
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), 495-502
Week 11
Monday, October 28
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), 502-503.
Problem 7-6, p. 503.
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), 503-522.
Problem 7-9, p. 522.
Tuesday, October 29
Chapter 7, Deductions and Other Allowances that Are Not Dependent on Profit-Seeking (continued), 522-540, skipping pp. 540-554.
Wednesday, October 30, Professor Karen Kole
Chapter 8, Characterization of Gains and Losses, pp. 559-582
Thursday, October 31
Class canceled.
Week 12
Monday, November 4
Chapter 8, Characterization of Gains and Losses, pp. 582-603.
Tuesday, November 5
Chapter 8, Characterization of Gains and Losses (continued), pp. 598-613.
Wednesday, November 6
Chapter 8, Characterization of Gains and Losses (continued), pp. 613-630.
Thursday, November 7
Class canceled.
Week 13
Monday, November 11, Professor John Potts
Review.
Chapter 9, Tax Accounting, pp. 631-637.
Tuesday, November 12
Chapter 9, Tax Accounting (continued), pp. 637-649.
Wednesday, November 13
Chapter 9, Tax Accounting (continued), pp. 649-668.
Thursday, November 14
Chapter 9, Tax Accounting (continued), pp. 668-684.
Friday, November 15, make-up class
Chapter 9, Tax Accounting (continued), pp. 684-694..
Week 14
Monday, November 18
Chapter 9, Tax Accounting (continued), pp. 694-724.
Tuesday, November 19
Chapter 10, Integrity of the Taxable Year, 725-744.
Wednesday, November 20
Chapter 11, Tax Deferred Transactions, 745-774.
Chapter 11 is the reading assignment, but we will discuss Section 1031 and associated material prior to discussing Section 1033 and associated material.
Thursday, November 21
Skip Chapter 12
Chapter 13, Alternative Minimum Tax, pp. 835-843.
Read the following two very brief appendices and, to the extent you think helpful, look over the Glossary on your own sometime.
Appendix A, Phase in of Income Tax Rate Reductions, p 845.
Appendix B, Capital Gains Rates as Phased in Under 2001 Law, pp. 847-848.
Glossary, pp. 869-878.
Thanksgiving Break
Week 15
Monday, December 2
My Christmas gift to you is that there is no new reading this week. Your Christmas gift to me is that you weathered a difficult semester with good cheer and thereby considerably helped me do the same. Thank you.
Review.
Tuesday, December 3
Review
Wednesday, December 4
Review
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